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Robinhood Is Down Again?

status.robinhood.com

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Re: Robinhood Is Down Again?

#21

Post by paulgb »

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.

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

Re: Robinhood Is Down Again?

#22

Post by eshyong »

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

That was probably a joke, see Robinhood's reply: https://twitter.com/AskRobinhood/status/1234861941413351434

Seems like infra problems.

Re: Robinhood Is Down Again?

#23

Post by SirLJ »

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)

Mature publicly traded company founded by a real pioneer, with ironclad API - it just works:

https://www.interactivebrokers.com/

Re: Robinhood Is Down Again?

#24

Post by jfengel »

trickledown wrote: post #4

Geesh, what do you want for free.

Well, "free". They hold your money and your stocks, which gives them opportunities to make profits. They also play middleman (or rather, sell the rights to be a middleman), making a profit on the difference between the asking and selling prices.

Re: Robinhood Is Down Again?

#25

Post by JumpCrisscross »

paulgb wrote: post #21
crystaldev wrote: post #17

Earlier quoted context omitted.

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

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.

Re: Robinhood Is Down Again?

#27

Post by freehunter »

godlikeNoob wrote: post #14

Robinhood has the worst customer service and security. My account got hacked, I changed the email, phone number and enabled 2FA and it got hacked again. I was trying to resolve it for a month. I really don't see why anybody would use Robinhood instead of an actual brokerage, now that all of them are free.

Why did you write this in a format that requires mobile users to scroll sideways? No one is going to read that.

Re: Robinhood Is Down Again?

#28

Post by koolba »

Is this a technical issue with the platform or underlying financial issue with their company and margin system?

I would not be surprised if a “move fast and don’t test things” approach to margin stress testing would collapse in the market we’ve had for the past week.

Re: Robinhood Is Down Again?

#29

Post by bob1029 »

eshyong wrote: post #22
rriepe wrote: post #19

Earlier quoted context omitted.

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

That was probably a joke, see Robinhood's reply: https://twitter.com/AskRobinhood/status/1234861941413351434 Seems like infra problems.

It's starting to seem like they use some sort of message bus to tie everything together. If the servers actually processing messages can't handle the volume, the entire show comes grinding to a halt. I've seen similar things in other industries where the entire system looks like its perfectly healthy, and then before you know it 100% of your systems are down because you simply can't push peak message volume or because one participant is infinite-looping messages.

Re: Robinhood Is Down Again?

#30

Post by Humdeee »

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

There was a discussion last night about this. Some of the more technically competent posters dismissed it because it's unbelievable that a financial platform would roll their own date-time implementation.
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