Currently using robinhood, was wondering if there's more benefits to using a more established broker. Any insight is greatly appreciated.
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Do you get any useful tools using a stockbroker like scotttrade or ameritrade?
Gavin Murphy
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Jose Sullivan
I love Robinhood. The only benefit other brokers offer, from my experience, is they provide research and tools. The only reason I switched to TD Ameritrade was due to the ability to set a trailing stop so I'm not having to constantly reset my stops.
Ryan King
Robinhood is literally shit tier
Use td ameritrade or interactive broker
Daniel Young
How so?
Aaron Harris
If I set a stop limit order and a limit order and one fills will it cancel the other out with robinhood?
Ian Carter
>broker crashing during market hours
>can't short
>no candlestick charts
If you have over 3k and are under 25 you can start an interactive broker account. They have $1 commissions
Isaiah Cook
Nothing in Robinhood automatically cancels. Everything must be done manually. Once you put in an order, it allocates the funds needed to fill that order until it is filled or cancelled. Any broker you use will have it's advantages and disadvantages.
Jason Thomas
Why do you have to be under 25?
Nicholas Stewart
You have to allocate funds or shares to your orders and they won't be available for other orders if you do.
Sebastian Bell
I use Trade Architect with TD Ameritrade. It's completely free, even if you have 0 balance in your account. Live stock quotes and market updates every second.
Literally the closest thing to Bloomberg, for free, that I've seen.
Landon Butler
does TD have a free level 2? im currently looking for a broker that offers a level 2. i think etrade you need 25k in it just to get a level 2
Matthew Hernandez
It has access to level 2 quotes
David Martinez
thanks
Lucas Barnes
Create an account with TD Ameritrade. Choose to deposit funds later. You now have ThinkOrSwim with free real time data.
Dominic Sanders
>How so?
>No margin, so you can't multiply your profit at all
>No After Hours, so if your stock crashes you have no access
>No real time quotes, so you're guessing at whatever prices you buy/sell
>Oh, and their servers tend to crash randomly.
Do you need more reasons?
I would run from them, unless you're just gambling with pennies.
Connor Bailey
If you trading common stock on a cash account there is 0 reason to not use Robinhood.
Luke Jones
TD Ameritrade and Fidelity have tools for free. Fidelity is a cluster fuck though. I'm sure other places other tools too.
William Rogers
How many levels / how much depth in the orderbook do they show?
I've heard Ameritrade filters their data so the volume studies like volume profile are not accurate. Is this true in practice?
Does TDAmeritrade have a good volume study which shows the volume delta at the bid and offer?
James Hughes
With instant I think they have margin trading and you can get your money from selling stock instantly.
The prices update constantly I'm not sure what you mean?
Haven't had it crash on me yet. Sometimes I buy only 3 stocks at a time, I don't have huge amounts of money. But fuck if I'm not learning and making money.
Jaxson Cox
Options.
Henry Williams
We pay for a number of additional features, all of them secondary to more accurate bid/ask info. That is primarily where the expense comes from. It is worth the commission.
>inb4 robinhood displays accurate prices
ours are more accurate.