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Robinhood cuts losses after transaction revenue drops

wsj.com

11–20 of 174 posts

Re: Robinhood cuts losses after transaction revenue drops

#11
post #8

If Robinhood had to close shop, who's a good broker to transfer holdings over to?

Fidelity. Very nice desktop and mobile apps. Trustworthy and established. Robinhood cant even be compared to it. While you are at it, get yourself some FNILX stocks and collect dividends on an index.

Fidelity mobile sucks though. Robinhood is makes gambling savings fun!

Re: Robinhood cuts losses after transaction revenue drops

#12
post #8

Earlier quoted context omitted.

Fidelity. Very nice desktop and mobile apps. Trustworthy and established. Robinhood cant even be compared to it. While you are at it, get yourself some FNILX stocks and collect dividends on an index.

Fidelity mobile sucks though. Robinhood is makes gambling savings fun!

I see this as a feature.

Re: Robinhood cuts losses after transaction revenue drops

#16

If Robinhood had to close shop, who's a good broker to transfer holdings over to?

Schwabb if you arent actively trading, tdameritrade if you are. Scwabb customer service is great

They're merging, so it doesn't really matter a super lot which one you choose. I switched to TD Ameritrade because I like their UI better, but this time next year they'll both be the same thing.

Re: Robinhood cuts losses after transaction revenue drops

#17

If Robinhood had to close shop, who's a good broker to transfer holdings over to?

I’d say it’s extremely unlikely that Robinhood would actually close shop. Worst case, they get bought for a pittance and customers get migrated over 12-24 months.

Re: Robinhood cuts losses after transaction revenue drops

#18

If Robinhood had to close shop, who's a good broker to transfer holdings over to?

Schwab or Vanguard.

Vanguard pioneered the low cost index fund and Schwab was one of the original "discount brokers". Their innovations were adopted by every other broker, driving down costs for the small trader. They remain allies of small investors.

Re: Robinhood cuts losses after transaction revenue drops

#19

> Rising interest rates helped lift quarterly net interest revenue to $128 million, more than doubling from the same period a year ago. Chief Financial Officer Jason Warnick said the company has about $17 billion in assets that generate interest revenue. While Robinhood used to pay a competitive interest rate for cash in the account, it is now 1.5% while Fed risk-free rate is now 3.75%+. You need to pay for Gold subs…

It wasn't long ago when I felt 1.2% was a good CD rate. Now I'm canceling all of them to move to online savings account paying 2-2.5x that amount.

Re: Robinhood cuts losses after transaction revenue drops

#20
post #8

If Robinhood had to close shop, who's a good broker to transfer holdings over to?

Fidelity. Very nice desktop and mobile apps. Trustworthy and established. Robinhood cant even be compared to it. While you are at it, get yourself some FNILX stocks and collect dividends on an index.

The thing about Robinhood seems to be fee-free options trading. I don't think any other broker does this
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