Any UK/EU equivalent of Robinhood (free trading, ISA support)?
I was wondering the same thing. It's a shame Robinhood appears to be US only or I'd have signed up for it off the back of this discussion.
Robinhood stock trading app valued at $1.3B with big raise from DST
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Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#72Earlier quoted context omitted.
Shameless plug: if you like good UI on Mac, check out Stockfolio, http://apple.co/2niG1PY One of our next updates should include linking to your brokerage + support for buying and selling shares. IB should (hopefully) be one of the supported brokerages.
This is something I am interested in, but the fact that you don't have a website about this app boggles my mind. I have simple questions like, how much of a pain in the ass is it to import your current holdings.
Right. We only launched the app last month, and given websites tend to not drive significant conversion numbers for apps (personal experience), we've deferred a bit on that. There's still a lot of of stuff we're working on.
To answer your question: currently it's probably a bit cumbersome to insert significant amounts of holdings. That said, one of the next updates should have both CSV import (for your historical data) + brokerage integration. You should be able to link your account so that transactions / holdings / etc automatically get imported.
Just shoot me an e-mail if you have other specific questions. I'd be happy to answer them.
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#73Earlier quoted context omitted.
I agree. Especially when most of their user base is probably millennials who are < 2 years into trading. A bit scary.
Here's scary: https://np.reddit.com/r/RobinHood/comments/5y8cw4/after_maki... The guy was posting around about consumer law and how he should be able to get a refund.
> I bought Express stock EXPR yesterday. I know a girl who works there and I thought it would make a good conversation piece but now today the stock is going down really fast. That's the one I want to return. I don't want to have to go into the actual store to talk to them about this I was hoping there was an option to do it online.
That's someone having a laugh at the expense of a bunch of fools who think they're so much smarter than him.
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#74[deleted]
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#75I don't know if I might be a little less smarter than average but could someone please enlighten. e on why RobinHood is valued at such an amount? What special purpose do they solve that C.S wouldn't copy as a feature or own in the nearest future?
It's the millennial user base that none of the older brokerages have been able to capture. If Robinhood holds most brokerage accounts of people born after 1980, CS will pay billions to acquire these accounts. While these accounts are small today, the idea is that total AUM will increase significantly as this user base matures and earns more $$$
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#76Any UK/EU equivalent of Robinhood (free trading, ISA support)?
I'm also looking for something like that. I have used Plus500 for a few months and didn't really enjoy it. I cannot lower the leverage (or that's what support says) and the overnight fees were eating up my profits.
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#77Robinhood is just a marketing play. Anything about them selling flow or using margin offerings to become profitable is not realistic. Traditional brokerages have a customer acquisition cost of around $400 to get someone to deposit at least $100 in an account. They've got a million users and continue to grow quicker and quicker. For a small multiple of traditional CAC they are already close to their >$1B valuation jus…
Very interesting breakdown, makes a lot of sense... thanks for sharing!
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#78Earlier quoted context omitted.
True, but only if you don't use Turbo Tax. My first year after graduating (and dabbling in stocks/ETFs) I had a painful time filling it out manually on H&R Block. Last year, Robinhood's integration made it so easy that I was both simultaneously pissed that I'm pretty much locked into Turbo Tax and amazed that it's so nice with all its integrations (e.g. also works on Lending Club, Wealthfront, etc).
Did H&R Block software not support your specific brokerage? Pulling in consolidated 1099s from major brokerage houses seems to be a relatively well-solved problem in tax prep world.
I had an inherited Edward Jones account and brought my many paged paper copy to a local H&R block, it baffled the employee for a bit but he eventually figured it out and did a lot of manual things.
Used Turbotax this year and it slurped my Vanguard data without issue. They also support EJ so I bet if I still had that it would be much more straightforward.
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#79I laughed at the article's url slug playing on the company's name - now-whos-the-rich . I haven't used Robinhood, but welcome new fintech companies who lower the barrier of entry toward financial health for the average consumer. Good for them, and I hope they use this money well.
I have my doubts that playing with the stock market is in any way conducive to "financial health" for the average consumer.
You can use Robinhood to purchase index funds. I know many of the Vanguard funds including VOO are on there.
Re: Robinhood stock trading app valued at $1.3B with big raise from DST
#80Any UK/EU equivalent of Robinhood (free trading, ISA support)?
There's an Indian equivalent called Zerodha [0].
They also offer an API they call Kite Connect [1].