Just wanted to know how many here have Robinhood as primary trading platform. I have Fidelity, tradeking(ally) and thinking to consolidate everything to robinhood. I have been active in market since 8 years. Any pros/cons with Robinhood? Would appreciate if you can prefix your answer with the number of years you have been actively investing/trading stocks.
Robin hood opts for Fifo
I had a very bad experience with Robinhood. Approval for my account t took more than 8 working days and still waiting . Every email to them was responded by a bor saying he we are experiencing high intake volume each v etc . When they actually responded nothing concrete . Ended up canceling my account and moved to ETrade .much happy now .... I would rather pay some commission and get good customer support than a freebie crap like RH
Cons: product, customer service, and apex trades do not seem to execute as quickly as others. Pros: nice mobile UI. Honestly do not understand why anyone would be interested in robinhood though so I may be missing something.
Afaik no options with Robinhood
They will support free option trades. Got the email for that last month.
I used Fidelity, Tradeking (now alley) before. But after Robinhood, I've never used them. Solely on Robinhood. Free trades, good mobile interface. Now there's even a web interface.
I use them for basics/couple k to play with. Have Schwab account for the real shit because we get it for free.
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If you just do buy and sell, then robinbood is good. If you are into options, then stick with fidelity
Worth noting they have slowly started rolling out options this year, available in a handful of states so far