Why does Robinhood get a bad rep?
EDIT: Im aware of the Gamestop Short squeeze. The security breaches and account hacks are more concerning! I’m new to investing and have been using Robinhood the past few months. The general consensus is to use TD Ameritrade or Fidelity for investing. The Robinhood UI and mobile app are intuitive and beginner friendly compared to counterparts. I’m primarily using Robinhood for long term investments in ETFs and buying some stocks, Not for day trading. #personalfinance #investments TC: 180K
I use it for long term etfs too ...What is the issue?
$GME
How does Hood make money?
Do you seriously not notice the many problems Robinhood has? Barely any logging of past orders, showing your positions, market and limit order support without me calculating how many shares it's just dumb. now keep asking lc hards
I feel the same, Robinhood has way bested UI than other options. Few reasons people hate it are 1. They sell preorder fulfillment data to hedge funds 2. Mismanaged GameStop saga 3. UI is addictive and game like , so some people don’t get enough time to think rationally and loose money I intend to keep using them and have all my stock investments with them
Im aware of the Gamestop Short squeeze. The security breaches and account hacks are more concerning!
Security breach was one CX agent who was social engineered into giving up her credentials. About 100 customers out of 20 million was the impact. We have since added monitoring for they. Account hacks - again are of the customer failing to keep their credentials safe and not turning on 2fa. If you set up 2fa, you are in good shape.
Yep I have setup 2fa
I like the idea of Robinhood. Isn't the point of Robinhood to democratize finance for all? How is that possible when it delays and freezes trading? It's taking power away from the people, which goes against its name.
https://www.investopedia.com/terms/c/circuitbreaker.asp Unless youre talking about GME incident? Though the majority of brokers had to stop buys due to increased collateral cost
Because it has an amateurish offering and commitment to security and quality when compared to the major players.
Robinhood switched focus to power customers half way through this year. We go against our own mission. Leadership sucks.
Did you try searching on blind before posting on this? I will be surprised if you miss the reason.