71–80 of 116 posts
Thread from exactly 4 years ago, March 2 2016: https://old.reddit.com/r/RobinHood/comments/48mep4/robinhood...
Thread that pointed it out: https://old.reddit.com/r/wallstreetbets/comments/fcoaev/and_...
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)
If you are trading much more frequently/short term, or WSB style options, then yea, I think that a proper brokerage (IB) is likely better for you.
Also perusing twitter --- lots of people were planning on executing that _perfect trade_ if only RH was up... lol
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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.
Now I have a much larger account, and I'm trading / investing with a much lower risk profile, because of what I learned on my >$1000 account. I consider that the exact opposite of wasting time.
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Which, hilariously, will cost you 75 dollars. Man, Robinhood is in for quite the lawsuit.
Most brokerage firms will charge similar fees.
EDIT: Why am I getting downvoted for this..? That's the reality of the situation here.. If I missed something, please reply instead of just downvoting.
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.
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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.
As a fellow software engineer, I feel for the people who work there. As a customer who lost a decent chunk of money yesterday (and today) because their system was down, I'm angry. I hate to say this, but I do not think they're competent enough to continue to operate as a broker. I, for one, will move all my money off as soon as I can. I'm also going to file a complaint with finra[1]. [1] https://www.finra.org/investo…
If this is a leap year problem, apparently similar issues happened 4 years ago and they never fixed it... Thread from exactly 4 years ago, March 2 2016: https://old.reddit.com/r/RobinHood/comments/48mep4/robinhood... Thread that pointed it out: https://old.reddit.com/r/wallstreetbets/comments/fcoaev/and_...
Fed cut interest rate by 50 basis points. Volume greatly increased since 10AM announcement.