Does anybody trade with Robinhood? Any experiences, positive/negative.

>>1832393
>Is the $0 commission just a meme?
no its legit

>>1832399
Would you recommend trading with it?

>>1832393

Just don't listen to any of the advice in the /rgt/ threads

they are a bunch of no good shitbags who get off on making other people lose their life savings.

they are the scum of the scum who want to see you fail

>>1832405
t. CERU bagholder.

>>1832405
Why would you take investing advice from a Mongolian horse warrior forum?

>>1832405
Thanks for pointing it out. I'm a newfag to /biz/ and wasn't aware there was a Robinhood general before making this this thread.

Been researching into the app and it seems totally legit. I've always wanted to find something were you can start off trading with little to nothing.

>>1832449
do your research, investing is not difficult. it's also not difficult to lose all your money investing in a shit company or a meme coin. Trust your gut and remember.

NO ONE CAN PREDICT THE FUTURE
NO ONE CAN PREDICT THE FUTURE
NO ONE CAN PREDICT THE FUTURE

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I've been using it for a week now, decent results so far, I'd suggest starting with at least $100 to get a feel for things before you blow a ton of money and lose it then commit Sudoku. I've found you can get caught in a real bind if you jump into a /rhg/ meme stock if you don't have a freed up day trade to bail out before it tanks, I lost $50 as I had used up all my day trades (4 is the limit, only use 3 till it resets after 5 days)
10/10 pretty good just do your research and don't get too cocky and excited when a /rhg/ stock goes up 2% and you think you can sleep thinking it'll rocket up 50%, bail out ASAP and accept your gains, any gain is a good gain. Otherwise find your own stocks if you want to invest for the long term

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>>1832393
positive - "cheapest" fees
negative - fractional fee on selling, it is extremely low however. They round up to 1 cent (2 cents including side fee) for most trades so it affects penny stocks the most or massive share sells.

positive - easy to use
negative - no assistance besides the leading indicator of the price over the last 5 years.

positive - fairly inexpensive leverage if you want it for a fee
negative - without robinhood gold there is significant downtime from funds limbo. If you need to be a day trader you will probably want to have the subscription (9 a month or more if u want a bigger pool to work with)

positive - has access to a lot of stocks/bonds/funds
negative - doesn't access absolutely everything

positive - dumps dividends into account
neutral - no option to auto-reinvest (can be positive or negative so rated neutral)

positive - probably best way to make money on capital vs time and effort involved
negative - don't expect a lot of help from the help menu if there are issues

positive - limit trades available
negative - if you do a normal buy/sell there is a delay in stock price and it may be different from what you thought it would be

overall - great long term investing strategy, or for simple stock trading
bad for - inexperienced traders, penny stock traders, people that like full automation.

I rate it a 7/10 and a 9/10 if you are experienced and a 3/10 if you are a beginner.

its fun. dont buy nak.

Yeah use Robinhood if you wanna own stock or Vanguard if you're an ETF cuck until you have 25-30K, then switch to Interactive Brokers for stock and stay with Vanguard for ETFs.

Any thoughts on robinhood gold? It looks good just for the instant deposit. I'm only investing like $100 right now so I'm not sure i could recoup the monthly fee. They loan $1000, but i could see that going south quickly

It's totally legit, but I do not recommend it for serious traders. Its severely limited, you dont really get any help, its pretty barebones and doesnt offer any kind of analytics.

Its really for simple basic stock trading, for people with small amounts of capital that like to casually "play" in the stock market. But for those with serious capital I suggest going with a more complete platform.

is there a comparative service for canadians?

>>1832393
One of the most important things about Robinhood and trading in general is what is defined as a pattern day trader in the US. Basically, you can't trade more than 4 times in 5 days with a margin account that has less than $25,000. You can get around this by having a cash account, but you can't access the money you make for over 3 business day. This pointless initial paywall is basically how the jews keep the dirty gentiles from trading stocks.

>>1832393
It would be great if it weren't so damn glitchy.

>>1832785
Can you expound, friend? Does Robinhood have a limit on how much you can trade on a weekly basis?

>>1832540
AMD took a shit today and etherum and snap chat keep climbing. The markets also make little sense.

>>1832405
I wouldn't feel bad for someone who listens to advice about investing on this board. If you consider this to be a sound place for advice, and not just rampant money themed shitposts, you kinda deserve it.

>>1832393
The 0$ commission isn't a meme. I use it, but like I said above, don't take advice from here. You'll fuck yourself over if you do.

>>1832815
It's not Robinhood itself, but rather FINRA, which is a regulatory commission that back in 2000 created a rule which all US brokerages have to abide by which basically states that you cannot make 4 trades in 5 days without having 25k in your brokerage account. If you do, Robinhood will flag you as a pattern day trader and you won't be able to do anything for 5 days.

http://www.finra.org/investors/day-trading-margin-requirements-know-rules

This is one of those things that I feel should be a disclaimer on the front page of any site that has anything to do with stock trading as it's basically a hidden entry fee to keep the goyim from actually getting into the stock market, as most working-class people can't afford to just have 25k sitting in brokerage account. The worst part is that FINRA claims it's in place to "protect" new investors from bad decisions.

It's one of those catch 22's when entering the stock market game. "Day-trading" is defined as a separate category from regular trading and this regulation is put in place supposedly to "protect" investors, and yet you can't actually make any meaningful gains with sub-25k in capital without day-trading. Luckily, cash accounts exist in Robinhood.

>>1832871
Sorry for being retarded, but could you explain this cash account loophole?

Any tips for someone about to start using Robinhood for the first time? Signed up for Ameritrade but the fees were too high for my broke ass (< $1000 to invest).
Now I'm just waiting for money to go through from my Ameritrade account so I can put it in Robinhood.

>>1832880
Research A LOT, never blindly follow advice posted here or anywhere else without you yourself being confident in the stock. Do at least a month of constant learning before you invest anything.

>>1832401
Yeah until you have real money RH is the best.

>>1832405
This though I don't think it's intentional, I just think people here are mostly stupid yet still feel the need to give advice like they are experts. /biz/ has some great posters but most are ignorant as shit.

>>1832540
>NO ONE CAN PREDICT THE FUTURE

Pretty much the only rule you need to apply to yourself on the market. Learn and make your own trades because these fortune tellers are full of shit.

>>1832875
You have to have $25k in your account to be able to day trade more than 3 times in any given week.

Robinhood counts cash in your account as part of your account, so you could literally just have $25k of cash sitting around and meet the requirement. You wouldn't need to buy $25k of stocks to meet it.

>>1832880
Do your research. Don't blindly follow anyone. Robinhood generals suggests penny stocks, but many of them are on the decline and super-cheap, which means they're at risk of being de-listed (worthless).

You have to understand how you react to invest well. Do you panic sell when the price dips? Do you hold and wait for the next bump? What can you afford to lose?

>>1832886
>>1832891
Learned my lesson on the research part when I lost a good portion on TGT.
As far as I know I've learned all the basics and fundamentals of investing and nothing is really confusing to me anymore so I think I'm good there.
Thanks for the advice.

>>1832875
To put it simply, a cash account is what most people outside of stocks think the stock market is. You buy stocks with your money and trade it for more or less money. Easy. The downside being with Robinhood you can't access that money used for 3 days because reasons.

A margin account is the default account type, for some reason. With margin you can potentially buy more stock than you can afford by borrowing directly from the broker. In this way, if you win, you win big, but if you lose, you end up paying a lot more, and this is partially the reason why the 25k entry fee to day trade on margin exists.

>>1832919
Robinhood recently is introducing Robinhood Gold.
I'll most likely try it out for fun.

>>1832933
What advantages does Gold offer?

>>1832947
It's what the anon above me talked about, you just borrow money from RH. The limit you can borrow depends on how much your account is worth. I think I borrow up to 20k or something.

>>1832955
It's ass-backwards though because they shouldn't penalize you for day trading with less than 25k unless you actually use margins.

>>1832425
This never fails to make me laugh.

>>1832824
well yeah, what did you expect? AMD is way overvalued