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Robinhood is a predatory lending scheme. The vast majority of its users should not be trading anything other than indexes.
Care to elaborate? I was under the impression that Indexes are treated the same way as stocks.
Robinhood is a predatory lending scheme. The vast majority of its users should not be trading anything other than indexes.
It's everyone's right to shoot themselves in the foot with dumb financial decisions. Robinhood isn't doing anything egregious here, they're only reducing friction and fees. I've used the app sparingly in the past with "fun money" but haven't done serious investing with it.
The industry regulations would indicate otherwise. Generally, the “dumber” the money, the more regulatory protections that will apply. At their core, financial regulators are consumer protection entities.
Robinhood is a predatory lending scheme. The vast majority of its users should not be trading anything other than indexes.
Robinhood is a predatory lending scheme. The vast majority of its users should not be trading anything other than indexes.
Can't you say the same thing about everyone using any other retail brokerage?
Earlier quoted context omitted.
Lending? What makes them worse than than anyone that charges a fee?
The ones who charge a fee don’t make interest on your balances.
" 57% of Schwab’s revenues are from net interest"
https://www.kalzumeus.com/2019/6/26/how-brokerages-make-mone...
Robinhood is a predatory lending scheme. The vast majority of its users should not be trading anything other than indexes.
I have a couple of shares on the app for a company. Just for anecdotal data. It’s fun to see. I would never put large amounts of my money in there.
Earlier quoted context omitted.
Can't you say the same thing about everyone using any other retail brokerage?
No. Upstanding retail brokerages (such as Interactive Brokers) don’t make interest on their customers’ balances.
Earlier quoted context omitted.
Can't you say the same thing about everyone using any other retail brokerage?
No. Upstanding retail brokerages (such as Interactive Brokers) don’t make interest on their customers’ balances.
https://www.kalzumeus.com/2019/6/26/how-brokerages-make-mone...
Earlier quoted context omitted.
Can't you say the same thing about everyone using any other retail brokerage?
No. Upstanding retail brokerages (such as Interactive Brokers) don’t make interest on their customers’ balances.
https://www.kalzumeus.com/2019/6/26/how-brokerages-make-mone...