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Robinhood Is Down Again?

status.robinhood.com

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Re: Robinhood Is Down Again?

#31

Post by thefreeman »

rriepe wrote: post #19
bob1029 wrote: post #6

I've been defending Robinhood since the beginning but this is just too much. I will start looking at new brokers this afternoon. At this point for me its not so much about the lost opportunity as it is about what the hell actually exploded so hard that they need to be down for 2 consecutive days. From my perspective, it's looking less and less like some one-off technical or hardware screwup and more like a fundamenta…

I haven't looked into the technical credibility of this at all [EDIT: I should have more strongly indicated my doubt here], so this isn't any sort of condemnation on my end, but I thought the Leap Day theory was interesting: https://twitter.com/jtech63/status/1234600045787394048

I am seeing this parroted everywhere this comes up and it is very unlikely to be the case. For one we have no idea what that API call is doing. The date parameter could be an upper bound, ie. it's just asking for all of the most recent data. In addition, Robinhood was up over the weekend, after the leap year occurred, and was even available early on Monday before the market opened.

Re: Robinhood Is Down Again?

#34

Post by johnbrodie »

lsiunsuex wrote: post #7
toomuchtodo wrote: post #3

Please move to a real brokerage if you use Robinhood! > Why? EDIT: Because their systems are garbage and their support non-existent. You can do better literally anywhere else (Fidelity, Schwab, Interactive Brokers).

Why ? Somewhat serious question - what will a real brokerage offer me on my tiny ( Blanket statement like that without reason would equal please switch to self hosting git instead of using github.com cause it went down last week or so - both have their purpose / skill level / cost associated with them. So a 3rd party app went down for a bit. Happens often (as most of us know)

I have no experience with it directly, but Robinhood is also widely regarded (in at least some circles) as having very poor execution. Meaning you're potentially not getting orders filled, or getting them filled at a sub-optimal price. They're also known for having "tech startup" level tech support if there _are_ issues, unlike more established brokers that allow you to talk to a real person almost instantly, allow you to trade over the phone if needed, etc.

They're also known for mispricing essentially _every_ morning, showing nonsensical pricing and account values for the first 30 minutes of trading. Overall, their software is clearly lagging behind something like Think or Swim from TDA.

Robinhood kind of made sense for low-value accounts that wanted to avoid commission. They've changed the game a bit in that most brokers offer low to no commission now. I'll echo the parent comment, I just don't see the point in using them given that most of the alternatives are better.

Re: Robinhood Is Down Again?

#35

Post by ISL »

JumpCrisscross wrote: post #25
paulgb wrote: post #21

Earlier quoted context omitted.

Investing under $1000, especially with commission-free trades, is a good way to learn the basics mechanics of stock trading.

> Investing under $1000, especially with commission-free trades, is a good way to learn the basics mechanics of stock trading Individual investors are at a huge disadvantage when it comes to intraday trading. For everything other than a child's hobby account, intended to teach emotional stability through gains and losses, a <$1,000 stock-trading account is value destroying.

That education, for a child or an adult, is primarily what one gains from a Also, one need not trade a small account intraday. I make small trades, but they are always with a multi-year perspective. Give me limit orders and small commissions, and I am happy.

(N.B. I use a different broker/don't have a first-hand perspective on Robinhood.)

Re: Robinhood Is Down Again?

#36

Post by eden_hazard »

I'm a QA engineer and this is freaking infuriating. I just went on Linkedin and 0 QA engineers. Just some QA associates that have no tech backgrounds. And one QA Engineer opening. I wonder how long it's been open? How does a trading platform not have a big team of QA engineers? Some dev managers, devs are so freaking arrogant. They think since they aren't coding, they aren't smart and they aren't important.

This isn't the first time that it's happened. Robhinhood should have been prepared. This is unforgiveable.

Re: Robinhood Is Down Again?

#37

Post by hoffs »

crystaldev wrote: post #17
lsiunsuex wrote: post #7

Earlier quoted context omitted.

Why ? Somewhat serious question - what will a real brokerage offer me on my tiny ( Blanket statement like that without reason would equal please switch to self hosting git instead of using github.com cause it went down last week or so - both have their purpose / skill level / cost associated with them. So a 3rd party app went down for a bit. Happens often (as most of us know)

Trading with < $1000 is an utter waste of your time. Interactive Brokers has a $10k lower account limit for your own good.

No it doesn't. You can have as little as few hundred dollars.

Re: Robinhood Is Down Again?

#38

Post by swiley »

christophilus wrote: post #13

It's a shame. I was rooting for Robinhood, since they really did disrupt the brokerage industry. I suspect two days in a row of this will be a death knell for them.

I don’t actively trade stocks but I’ve looked at it. What exactly does robinhood do that etrade didn’t? (Other than the shiny app and front running being a formal part of the business model.)

Re: Robinhood Is Down Again?

#39

Post by spectramax »

kyleblarson wrote: post #32

Given the sorts of positions RH has allowed the wallstreetbets crowd to put on I would not put 5 bucks onto the platform.

I actually don't think any sort of gatekeeping to do whatever the hell you want to do with your money is the broker's business. Sure, don't allow naked calls and other margin shenanigans, but for the most part - these are fully functional adults - if they decide to gamble with their money, so be it. Let them do it.

Re: Robinhood Is Down Again?

#40

Post by spiderjerusalem »

crystaldev wrote: post #17
lsiunsuex wrote: post #7

Earlier quoted context omitted.

Why ? Somewhat serious question - what will a real brokerage offer me on my tiny ( Blanket statement like that without reason would equal please switch to self hosting git instead of using github.com cause it went down last week or so - both have their purpose / skill level / cost associated with them. So a 3rd party app went down for a bit. Happens often (as most of us know)

Trading with < $1000 is an utter waste of your time. Interactive Brokers has a $10k lower account limit for your own good.

They lowered this to 2k a while back though.

EDIT: It seems it's completely removed now. https://www.interactivebrokers.com/en/index.php?f=4969

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