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Robinhood stock trading app confirms $110M raise at $1.3B valuation

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Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#371

Post by rl3 »

randomizor22 wrote: post #313
rl3 wrote: post #2

Nice, now hopefully they can deliver on a public API, short selling, and a desktop app.

Not sure exactly what you're looking for in a Robinhood API, but I work for a company that provides a brokerage API (the sort of API that would power a Robinhood-type product). Might be relevant: https://www.thirdparty.com We've got quite a few things on the roadmap that exceed Robinhood's offering.

The market you're targeting is at least an order of magnitude out of my price range, but I appreciate the info. Best of luck.

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#372

Post by SEJeff »

wwalser wrote: post #363
SEJeff wrote: post #330

Earlier quoted context omitted.

It bugs the crap out of me that they don't integrate with other services like Mint. Right now I do a few things. I manually track my position using personal capital (I can't recommend this service / app enough for tracking ALL of your investments and planning for your future). It is kind of like mint, but exclusively for your investments ( https://www.personalcapital.com/ ) I've written a fair bit of code (python) to…

I've been retargeted by Personal Capital on FB for several months now. Are you recommending the "free financial tools" from Personal Capital? I sort of assumed the "free" was just there to entice you into paying for their wealth management services which look like every other robo but with higher fees. Are the tools actually good? Several low-cost robos (Wealthfront and Betterment) now have fairly good retirement pla…

They very politely try to upsell you on their wealth management "call and speak with our professional advisers today!" services, which I simply decline. Their ability to track investments seems superior to mint for the things I want to do, but to each their own. If you just use the free tier, it is great. I simply use it to make sure I don't need to do much rebalancing of my investments every year based on my investment goals and risk tolerance. Having been a mint user since early 2007, I actually prefer PC for the investment only advice, and mint for everything else.

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#374

Post by nommm-nommm »

tanderson92 wrote: post #280
nommm-nommm wrote: post #157

Earlier quoted context omitted.

I've written this on HN before but Fidelity(1) and Schwab(2) have similar low cost index fund offerings to Vanguard as well so don't think you are stuck with Vanguard. Both Fidelity and Schwab also offer the best checking account you can possibly get (no fees, minimums, plus ATM reimbursement) for free as well. Additionally, Fidelity has a great 2% cash back credit card. Even if you don't use Fidelity or Schwab's bro…

Schwab has the best checking accounts out there, I use them. But I use Merrill Edge as a commission-free brokerage (30 trades per month with $50k assets, 100 trades per month with $100k assets). The upside (apart from not being limited to iShares at Fidelity and Schwab at Schwab) is in the credit card, which beats Fidelity. Bank of America Travel Rewards rates: * $50k+ Merrill Edge Balance: 2.25% travel rewards cash…

Thanks for sharing your experiences. I know people who use Merrill Edge (owned by BoA) for index funds as well but I didn't feel comfortable writing about something I don't have any experience with and only a vague knowledge of.

My point was, while Vanguard is certainly a great option, there's plenty of other great options out there as well.

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#375

Post by harryh »

tomp wrote: post #366
harryh wrote: post #135

Earlier quoted context omitted.

I give you data, and you give me discount on your other services That's not what rebate means in this context. It is, in fact, actual money. Robinhood also isn't just giving someone data. They're sending order flow to various market makers. Not data about the orders but the actual flow in need of execution.

But that's exactly the point; that flow is data, and it's valuable, especially to market makers. If it weren't, they wouldn't be paying for it...

That flow isn't really data. Like sure, ok, it's data in the sense that everything is data. But that's not the point. The point of retail flow is that it's not based on other market events but is based on mundane things like regular monthly 401k deposits.

This flow is a source of customers for market makers. Those customers get charged a fee. A % of that fee is rebated back to Robin Hood (or other retail brokers) for being originators of the customers.

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#376

Post by devopsproject »

jameskegel wrote: post #333
devopsproject wrote: post #298

Earlier quoted context omitted.

that link kills the back button. also, you can't make money so why bother

Can you explain the latter half of your statement please?

you can't make money trading with fake money in a simulated stock market.

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#377

Post by Qub3d »

fuckemem wrote: post #327
artursapek wrote: post #257

Earlier quoted context omitted.

What a condescending response. How is it wrong? Look at VFINX for example: - VFINX is up 72% in 10 years. AMZN for example is up 1220% in the same 10 years. - VFINX is up 72% in 5 years. XIV is up 530% in the same 5 years.

Lookup: Survivorship Bias

Hey, xkcd just made a really good comic about that!

https://xkcd.com/1827/

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#378

Post by nommm-nommm »

protomok wrote: post #233
slimsag wrote: post #182

Earlier quoted context omitted.

I use Robinhood for passive funds. VOO, VYM, UPRO, SHY, etc.

Nice, I would probably use it the same way. Would you know if Robinhood supports pre-authorized purchase plans? For example the ability to buy x shares of VOO on the first day of each month automatically? I didn't see anything on the FAQ but maybe I missed it. Pre-authorized purchase plans + no commissions could be interesting.

Robinhood is severely lacking in features and it is mobile app only, no website. If you want that kind of thing with index funds go with another brokerage (Fidelity, Schwab, Vanguard, all have commission free index funds.) The other really crappy thing about Robinhood is that it doesn't integrate with other platforms so if you want to track your wealth with Mint or Personal Capital you can't.

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#379

Post by webninja »

jameskegel wrote: post #334
webninja wrote: post #242

Earlier quoted context omitted.

Day trading is hazardous to your health and your wealth and more-so with the increase in HFTs. But the buy and hold for long-term strategy works very well. Use limit orders and you won't be paying any "hidden" costs. For example, Lets say you put in a Market Order for 1 share of GOOG. Currently the price per share is about $900. It could fill immediately at $900, or it could fill immediately at $930 with that $30 pre…

Can you substantiate the last paragraph somehow with a source on this statement?

Yes, Robinhood Order Types: https://support.robinhood.com/hc/en-us/articles/208650386-Or...

Edit: Now only market buy orders are converted into limit orders. Market sell orders remain as market sell orders. They must have changed their policy in this last year.

Re: Robinhood stock trading app confirms $110M raise at $1.3B valuation

#380

Post by charlesdm »

JakeAl wrote: post #349
SEJeff wrote: post #101

Earlier quoted context omitted.

But even if you pay the $9-$15 for their Gold account, you still can only get on margin the amount of capital you have in the account max ie: if you deposit $5 and have $5 of cash on hand in your robinhood, but own ~$1200 of stocks, you can use https://support.robinhood.com/hc/en-us/articles/213262686-Ro... Note that I am a robinhood user and do not use gold or any margin investing. I use it for speculation for long…

Investing or trading on margin is intended to allow you to trade while you are waiting for previous trades to settle. It's not meant to be a loan, but it is exploited that way by both banks and traders at their own risk. It's simple enough to fix, only allow margin to cover the amount of money waiting to be settled. In other words if a trade hasn't settled then the funds are not available for trading.

Margin can be powerful as a wealth building strategy, when interest rates are low. Risky? Yes. Profitable? Sometimes, if you've done your homework.

I don't think you can be a consistent good stock picker, HOWEVER, there are certain companies you just know will do well because they're closely aligned to the industry you work in, for example. "Doubling down" using margin (borrowed at 1-2% per year, not 8-10%) can (maybe, sometimes, not always) be a good strategy.

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