Robinhood is a scam proven!!

AwesomeTucker
AwesomeTucker

Robinhood is a scam proven!!
Stay tuned for links

BunnyJinx
BunnyJinx

and but so

Fuzzy_Logic
Fuzzy_Logic

@AwesomeTucker
I don't know about a "scam", but they do have a lot of people believing they offer the same services as a broker.
The whole "free commission" shtick would be a big deal if they did.

Carnalpleasure
Carnalpleasure

@Fuzzy_Logic
For many people Robinhood does pretty much all they need. So if you just want some simple transactions or you're a low cash/thrifty person who just wants to buy a few shares here and there till you learn more, Robinhood is a low impact option.

Brokers are a scam if anything. You pay some guy who wears a suit and the business he's an expert on is mainly driven by a haphazard combination of greed, fear, confidence and a small dose of knowledge? Just read some fucking books and do it yourself instead of paying some leech to suck on the teets of your investments while looking smug about it.

Personal feelings aside, I know there is actually a service brokers do provide and it's worthwhile for those who seek it. But if you can't afford that, there's other options and that's a good thing.

SniperGod
SniperGod

@Carnalpleasure
For many people Robinhood does pretty much all they need
You're talking about people so green, they honestly don't know what they need. They don't even really have a working idea of how markets and financial instruments operate. Robinhood merely lets them believe they're a player in the game, while at the same time making sure their odds of success are even lower.
If you want to defend a company passing their substandard bullshit off to inexperienced investors (who are more than likely to flush 90% of their capital as a result), feel free, but I'd guess you have no idea what they're keeping from you.

You pay some guy who wears a suit
You're a little out of date, unless you're talking about a "financial advisor", only old people talk to a personal broker.

Lord_Tryzalot
Lord_Tryzalot

@SniperGod
Implying you know what I and others need more than we know what we need.

Since you seem to know it all about how markets operate, please educate us.

cum2soon
cum2soon

@AwesomeTucker
wow can't wait for that links.
You really have me hooked, investigative reporter-san

MPmaster
MPmaster

@Lord_Tryzalot
Implying you know what I and others need more than we know what we need
I've only been in the industry since 2005.
But I'd still say I'm more knowledgable than the people using RobinHood. You guys are trying to escape Wall Street's fee structure, and haven't figured out that you don't get something for nothing.
You knew that RH was designed by two guys who built HFT platforms, right?

Gigastrength
Gigastrength

@MPmaster
oh no someone is making money by providing value to others

for someone in the industry you sure are a fucking retard

WebTool
WebTool

@Gigastrength
providing value to others

MPmaster
MPmaster

Robinhood is the opposite of a scam. Brokers charge people to trade stocks for fuck's sake when it costs nothing. Some of those fees are high enough to eat your gains by 10%. It's rigged against the little guys.

SomethingNew
SomethingNew

@WebTool
did you lose all your clients to robinhood or something? is that why you are so butthurt

PackManBrainlure
PackManBrainlure

@SomethingNew
Nope. I don't have clients.
Just trying to give a heads up. Good luck out there.

5mileys
5mileys

how exactly is it a scam? it doesn't claim to be anything that it's not and if you had any knowledge of how these institutions work you'd know they literally can't just run off with your money or some bullshit

Because their charts are shitty or their data a bit late at times? just use other avenues for charting and news anddon't blindly place market orders like an idiot.

ZeroReborn
ZeroReborn

So what was the point of this thread again?

Stark_Naked
Stark_Naked

@AwesomeTucker

It's not a scam, is it not literally the same thing as the optionshouse account I had 3 weeks ago? I have not noticed a difference except that it was easy as shit to sign up.

Elaborate.

Stark_Naked
Stark_Naked

@5mileys
they literally can't just run off with your money or some bullshit
What about when they crash and you can't do shit?
They might as well be running off with my money at that point.

iluvmen
iluvmen

Robinhood does really suck though

can't short
no candlestick charts
possibility of crashing DURING market hours

I had the last one happen to me twice and lost a substantial amount of cash because I couldn't get out of a trade. I know use interactive broker

If your under 25 you can start an account with 3k

idontknow
idontknow

@Stark_Naked
she's a better investor than buffet

Gigastrength
Gigastrength

@Stark_Naked
FINRA SIPC
google

ZeroReborn
ZeroReborn

@Gigastrength
This, OP and this guy @SniperGod
have no idea what they're talking about. If you want high frequency trading, better charts, etc., Use a more expensive trading platform.

This should go without saying but you get what you pay for

Booteefool
Booteefool

@Gigastrength
You mean you can't lose money like these guys did?

Boy_vs_Girl
Boy_vs_Girl

@MPmaster
Yes, read up on the founders and how and why they started what's now - Robinhood.

There's no free lunches, somebody has to pay. I don't mind it if my margin funding earns them whatever interest in this near 0/- ve interest rate scenario or if they trade in BTC or fund the Trump/Hillary campaigns.

massdebater
massdebater

@iluvmen
can't short
possibility of crashing DURING market hours

these two are exactly why i dont use RH

Inmate
Inmate

@MPmaster
costs nothing
wrong

Disable AdBlock to view this page

Disable AdBlock to view this page