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Robinhood Has Lured Young Traders, Sometimes With Devastating Results (archive.vn)

Robinhood is somewhat easier to use, but on a scale of 1-10 I'd say it's 9 while my $big_broker account is 7 - it's not terribly difficult to execute trades in the big broker's account either. They just don't do the big whitespace crap that Robinhood does.

That being said, the disclosure of risk isn't very good on Robinhood's pages, but if you're playing the market you should already know to start small and see how it works instead of doing like the idiot in the story and jumping in with thousands.

All we need is another dot-bomb crash and all those unrealized gains go to loss, or worse yet - to bankruptcy and no chance of recovery.

Robinhood is somewhat easier to use, but on a scale of 1-10 I'd say it's 9 while my $big_broker account is 7 - it's not terribly difficult to execute trades in the big broker's account either. They just don't do the big whitespace crap that Robinhood does. That being said, the disclosure of risk isn't very good on Robinhood's pages, but if you're playing the market you should already know to start small and see how it works instead of doing like the idiot in the story and jumping in with thousands. All we need is another dot-bomb crash and all those unrealized gains go to loss, or worse yet - to bankruptcy and no chance of recovery.

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[–] [deleted] • 1 pt

It's almost like companies like Charles Schwab and Extrade are paying for these Robinhood hit-pieces, wouldn't be surprised. RH just makes it easier to shoot yourself in the foot, that's not its fault.

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[–] • 0 pt

That could be. Thing is, I have a ML account, it's not much more difficult to make trades and doesn't cost anything either. I guess the only thing the big guys have to lose is people going to robinhood instead of Schwab and Merrill where the big guys can market their own funds to schmucks.

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[–] [deleted] • 1 pt

also commissions on buys and sells, which RH doesn't do

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[–] • 0 pt

I'm guessing there are still some high commission fix-fee houses out there. ML charges me $0.03/$1000 sold, which is pretty manageable. I've read that RH uses other methods, including being paid to be the arbiter for a transaction.

I'd love to know what's going on behind the curtain. Well...maybe I wouldn't.

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