Current Events > Is that free stock trading app Robin Hood legit?

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Hexenherz 10/01/18 6:44:01 PM #1:	Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909786342] in Is that fr... [t:77058267]...</cite> <quote>Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine).</quote> ... Copied to Clipboard!
EliteLevel 10/01/18 6:47:45 PM #2:	If it has to call itself Robin Hood then its no good. --- Judge not, lest ye be judged and get butthurt. <cite>EliteLevel posted [p:909786556] in Is that fr... [t:77058267]...</cite> <quote>If it has to call itself Robin Hood then its no good.</quote> ... Copied to Clipboard!
Space_Man 10/01/18 6:47:48 PM #3:	I've never used it but used similar services. Some took a few days to process but everything was legit. Good for light trading/getting your feet wet --- There sure are a lot of different mes just like you have a lot of different yous! I'm going outside to play now I hope all the different yous have fun too. Bye! <cite>Space_Man posted [p:909786560] in Is that fr... [t:77058267]...</cite> <quote>I've never used it but used similar services. Some took a few days to process but everything was legit. Good for light trading/getting your feet wet</quote> ... Copied to Clipboard!
The Trent 10/01/18 6:48:29 PM #4:	It's legit...easy entry --- i swear to God most of y'all cats just don't know The Trent you barely know yourself so i guess most of y'all should be offended <cite>The Trent posted [p:909786597] in Is that fr... [t:77058267]...</cite> <quote>It's legit...easy entry</quote> ... Copied to Clipboard!
CommonStar 10/01/18 6:49:18 PM #5:	It's legit. I've used it before. <cite>CommonStar posted [p:909786637] in Is that fr... [t:77058267]...</cite> <quote>It's legit. I've used it before.</quote> ... Copied to Clipboard!
MabusIncarnate 10/01/18 6:49:59 PM #6:	It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well. --- Ten million dollars on a losing campaign Twenty million starving and writhing in pain <cite>MabusIncarnate posted [p:909786678] in Is that fr... [t:77058267]...</cite> <quote>It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well.</quote> ... Copied to Clipboard!
SaithSayer 10/01/18 6:51:22 PM #7:	https://www.youtube.com/watch?v=Xwr-7nkTuX4" data-time="&start=20 <cite>SaithSayer posted [p:909786748] in Is that fr... [t:77058267]...</cite> <quote> https://www.youtube.com/watch?v=Xwr-7nkTuX4" data-time="&start=20</quote> ... Copied to Clipboard!
Hexenherz 10/01/18 6:51:32 PM #8:	MabusIncarnate posted... It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well. My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account. --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909786761] in Is that fr... [t:77058267]...</cite> <quote><cite>MabusIncarnate posted...</cite> <quote>It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well.</quote> My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account.</quote> ... Copied to Clipboard!
CommonStar 10/01/18 6:55:50 PM #9:	Hexenherz posted... MabusIncarnate posted... It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well. My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account. I wouldn't trust it to keep your money on it long term. If that's your plan, then open a vanguard or charles schwab account instead. <cite>CommonStar posted [p:909786990] in Is that fr... [t:77058267]...</cite> <quote><cite>Hexenherz posted...</cite> <quote><cite>MabusIncarnate posted...</cite> <quote>It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well.</quote> My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account.</quote> I wouldn't trust it to keep your money on it long term. If that's your plan, then open a vanguard or charles schwab account instead.</quote> ... Copied to Clipboard!
Hexenherz 10/01/18 6:56:33 PM #10:	CommonStar posted... Hexenherz posted... MabusIncarnate posted... It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well. My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account. I wouldn't trust it to keep your money on it long term. If that's your plan, then open a vanguard or charles schwab account instead. I mean what's the difference here? Regardless you're buying the stock, right? --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909787037] in Is that fr... [t:77058267]...</cite> <quote><cite>CommonStar posted...</cite> <quote><cite>Hexenherz posted...</cite> <quote><cite>MabusIncarnate posted...</cite> <quote>It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well.</quote> My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account.</quote> I wouldn't trust it to keep your money on it long term. If that's your plan, then open a vanguard or charles schwab account instead.</quote> I mean what's the difference here? Regardless you're buying the stock, right?</quote> ... Copied to Clipboard!
s0nicfan 10/01/18 6:58:20 PM #11:	Hexenherz posted... Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz <cite>s0nicfan posted [p:909787141] in Is that fr... [t:77058267]...</cite> <quote><cite>Hexenherz posted...</cite> <quote>Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine).</quote> So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it?</quote> ... Copied to Clipboard!
NightMarishPie 10/01/18 6:58:34 PM #12:	The catch is that not every stock is on there. At least, that's how it used to be like 2 years ago. Idk what it's like now. --- "Who dares, wins" 3DS FC: 1521 3697 7272 <cite>NightMarishPie posted [p:909787155] in Is that fr... [t:77058267]...</cite> <quote>The catch is that not every stock is on there. At least, that's how it used to be like 2 years ago. Idk what it's like now.</quote> ... Copied to Clipboard!
Rick-C137 10/01/18 6:59:29 PM #13:	It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one --- Rickest Rick bro <cite>Rick-C137 posted [p:909787209] in Is that fr... [t:77058267]...</cite> <quote>It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one</quote> ... Copied to Clipboard!
Hexenherz 10/01/18 7:03:47 PM #14:	Rick-C137 posted... It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one Ugh that sucks about the portfolios. Is there a supplementary tool you can use for that, or is there just another service in general you would recommend? I also don't mind paying per trade. --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909787425] in Is that fr... [t:77058267]...</cite> <quote><cite>Rick-C137 posted...</cite> <quote>It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one</quote> Ugh that sucks about the portfolios. Is there a supplementary tool you can use for that, or is there just another service in general you would recommend? I also don't mind paying per trade.</quote> ... Copied to Clipboard!
Rick-C137 10/01/18 7:07:19 PM #15:	M1 finance is free and has basically everything --- Rickest Rick bro <cite>Rick-C137 posted [p:909787587] in Is that fr... [t:77058267]...</cite> <quote>M1 finance is free and has basically everything</quote> ... Copied to Clipboard!
emblem boy 10/01/18 7:12:46 PM #16:	s0nicfan posted... Hexenherz posted... Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? And they don't give interest for the money you have laying there. Also, the no day trade is a legal thing if I'm not mistaken. Doesn't have to do with length you process trades. --- Posted with GameRaven 3.5.1 <cite>emblem boy posted [p:909787900] in Is that fr... [t:77058267]...</cite> <quote><cite>s0nicfan posted...</cite> <quote><cite>Hexenherz posted...</cite> <quote> Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine).</quote> So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it?</quote> And they don't give interest for the money you have laying there. Also, the no day trade is a legal thing if I'm not mistaken. Doesn't have to do with length you process trades.</quote> ... Copied to Clipboard!
emblem boy 10/01/18 7:13:34 PM #17:	TC. Visit the Wallstreetbets subreddit and start trading options. Have fun losing money --- Posted with GameRaven 3.5.1 <cite>emblem boy posted [p:909787940] in Is that fr... [t:77058267]...</cite> <quote>TC. Visit the Wallstreetbets subreddit and start trading options. Have fun losing money</quote> ... Copied to Clipboard!
emblem boy 10/01/18 7:16:31 PM #18:	Rick-C137 posted... It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one Most services require you to buy each stock one by one. Except for M1 like you mentioned --- Posted with GameRaven 3.5.1 <cite>emblem boy posted [p:909788085] in Is that fr... [t:77058267]...</cite> <quote><cite>Rick-C137 posted...</cite> <quote>It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one</quote> Most services require you to buy each stock one by one. Except for M1 like you mentioned</quote> ... Copied to Clipboard!
CharlesBronson 10/01/18 7:19:35 PM #19:	Hexenherz posted... My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account. Why not invest in treasury bonds the yield on the 10yr is over 3% <cite>CharlesBronson posted [p:909788233] in Is that fr... [t:77058267]...</cite> <quote><cite>Hexenherz posted...</cite> <quote>My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account.</quote> Why not invest in treasury bonds the yield on the 10yr is over 3%</quote> ... Copied to Clipboard!
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WarfireX 10/01/18 7:20:11 PM #21:	I've made thousands on it so far. It is legit. --- Spider-Man 3 was a good movie. <cite>WarfireX posted [p:909788269] in Is that fr... [t:77058267]...</cite> <quote>I've made thousands on it so far. It is legit.</quote> ... Copied to Clipboard!
Rick-C137 10/01/18 7:21:48 PM #22:	emblem boy posted... Rick-C137 posted... It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one Most services require you to buy each stock one by one. Except for M1 like you mentioned really? I would think most would at least let you organize your stocks --- Rickest Rick bro <cite>Rick-C137 posted [p:909788356] in Is that fr... [t:77058267]...</cite> <quote><cite>emblem boy posted...</cite> <quote><cite>Rick-C137 posted...</cite> <quote>It's legit and here to stay But you have to do everything yourself. But you can't make portfolios so you have to buy each stock one by one</quote> Most services require you to buy each stock one by one. Except for M1 like you mentioned</quote> really? I would think most would at least let you organize your stocks</quote> ... Copied to Clipboard!
lesidesi 10/01/18 7:24:40 PM #23:	just open an interactive brokers account --- If they can get you asking the wrong questions, they don't have to worry about the answers. <cite>lesidesi posted [p:909788525] in Is that fr... [t:77058267]...</cite> <quote>just open an interactive brokers account</quote> ... Copied to Clipboard!
Hexenherz 10/01/18 7:30:54 PM #24:	byron posted... Hexenherz posted... MabusIncarnate posted... It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well. My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account. You could be getting 1.85%-1.9% in a savings account Still not as much as what these various stock options offer though. CharlesBronson posted... Hexenherz posted... My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account. Why not invest in treasury bonds the yield on the 10yr is over 3% Another coworker did swear by certain types of municipal bonds. I think it was his... uncle or great uncle that made quite a bit just buying those up, but I don't think I have enough starting capital for that? I don't know. @ Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time? --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909788865] in Is that fr... [t:77058267]...</cite> <quote><cite>byron posted...</cite> <quote><cite>Hexenherz posted...</cite> <quote><cite>MabusIncarnate posted...</cite> <quote>It's reputable and legit, you aren't gonna make big bucks on it but you can gain or lose a little bit if you are interested in trying. I know a few people who use it, and I have as well.</quote> My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account.</quote> You could be getting 1.85%-1.9% in a savings account</quote> Still not as much as what these various stock options offer though. <cite>CharlesBronson posted...</cite> <quote><cite>Hexenherz posted...</cite> <quote>My intent is really just to get a little more interest through dividend...ed stocks (like IBM, McDonald's, etc.) instead of just having it sit in my 0.25% savings account.</quote> Why not invest in treasury bonds the yield on the 10yr is over 3%</quote> Another coworker did swear by certain types of municipal bonds. I think it was his... uncle or great uncle that made quite a bit just buying those up, but I don't think I have enough starting capital for that? I don't know. @ Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time?</quote> ... Copied to Clipboard!
Hexenherz 10/01/18 7:31:50 PM #25:	emblem boy posted... s0nicfan posted... Hexenherz posted... Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? And they don't give interest for the money you have laying there. Can you explain this in more detail? --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909788919] in Is that fr... [t:77058267]...</cite> <quote><cite>emblem boy posted...</cite> <quote><cite>s0nicfan posted...</cite> <quote><cite>Hexenherz posted...</cite> <quote> Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine).</quote> So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it?</quote> And they don't give interest for the money you have laying there. </quote> Can you explain this in more detail?</quote> ... Copied to Clipboard!
EzeDoesIt 10/01/18 7:32:11 PM #26:	EliteLevel posted... If it has to call itself Robin Hood then its no good. Should get the Sheriff of Nottingham app instead. --- What the *** does MMF topic mean?* -Azalea9X <cite>EzeDoesIt posted [p:909788941] in Is that fr... [t:77058267]...</cite> <quote><cite>EliteLevel posted...</cite> <quote>If it has to call itself Robin Hood then its no good.</quote> Should get the Sheriff of Nottingham app instead.</quote> ... Copied to Clipboard!
spudger 10/01/18 7:33:23 PM #27:	totally legit i use it. have some etf and stocks in a portfolio using the app --- -Only dead fish swim with the current http://error1355.com/ce/spudger.html <cite>spudger posted [p:909789008] in Is that fr... [t:77058267]...</cite> <quote>totally legit i use it. have some etf and stocks in a portfolio using the app</quote> ... Copied to Clipboard!
Rick-C137 10/01/18 7:49:19 PM #28:	Hexenherz posted... @ Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time? multiple stocks from one company i was just annoyed comparing it to m1 cause you can organize stocks there and robinhood just lists them --- Rickest Rick bro <cite>Rick-C137 posted [p:909789974] in Is that fr... [t:77058267]...</cite> <quote><cite>Hexenherz posted...</cite> <quote>@ Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time? </quote> multiple stocks from one company i was just annoyed comparing it to m1 cause you can organize stocks there and robinhood just lists them</quote> ... Copied to Clipboard!
emblem boy 10/01/18 8:48:10 PM #29:	Hexenherz posted... Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time? I believe in M1, you can buy fractional shares, rather than having to buy a full share. Hexenherz posted... emblem boy posted... s0nicfan posted... Hexenherz posted... Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? And they don't give interest for the money you have laying there. Can you explain this in more detail? Let's say you have money in a brokerage. Not actual money you've spent on stock, just money laying around in the brokerage you haven't used. They'll usually pay you interest on that, like a checking account. It's not much. Robinhood makes some money by not doing that https://support.robinhood.com/hc/en-us/articles/360001226106-How-We-Make-Money --- Posted with GameRaven 3.5.1 <cite>emblem boy posted [p:909793169] in Is that fr... [t:77058267]...</cite> <quote><cite>Hexenherz posted...</cite> <quote>Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time?</quote> I believe in M1, you can buy fractional shares, rather than having to buy a full share. <cite>Hexenherz posted...</cite> <quote><cite>emblem boy posted...</cite> <quote> <cite>s0nicfan posted...</cite> <quote> <cite>Hexenherz posted...</cite> <quote> Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). </quote> So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? </quote> And they don't give interest for the money you have laying there. </quote> Can you explain this in more detail?</quote> Let's say you have money in a brokerage. Not actual money you've spent on stock, just money laying around in the brokerage you haven't used. They'll usually pay you interest on that, like a checking account. It's not much. Robinhood makes some money by not doing that https://support.robinhood.com/hc/en-us/articles/360001226106-How-We-Make-Money</quote> ... Copied to Clipboard!
Hexenherz 10/01/18 8:52:19 PM #30:	emblem boy posted... Hexenherz posted... Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time? I believe in M1, you can buy fractional shares, rather than having to buy a full share. Hexenherz posted... emblem boy posted... s0nicfan posted... Hexenherz posted... Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? And they don't give interest for the money you have laying there. Can you explain this in more detail? Let's say you have money in a brokerage. Not actual money you've spent on stock, just money laying around in the brokerage you haven't used. They'll usually pay you interest on that, like a checking account. It's not much. Robinhood makes some money by not doing that https://support.robinhood.com/hc/en-us/articles/360001226106-How-We-Make-Money So basically if you transfer money over to them and it just sits there they aren't giving you anything for it but other companies would? I guess that doesn't make a huge difference as long as you're immediately buying stuff up right? --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909793392] in Is that fr... [t:77058267]...</cite> <quote><cite>emblem boy posted...</cite> <quote><cite>Hexenherz posted...</cite> <quote>Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time?</quote> I believe in M1, you can buy fractional shares, rather than having to buy a full share. <cite>Hexenherz posted...</cite> <quote><cite>emblem boy posted...</cite> <quote> <cite>s0nicfan posted...</cite> <quote> <cite>Hexenherz posted...</cite> <quote> Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). </quote> So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? </quote> And they don't give interest for the money you have laying there. </quote> Can you explain this in more detail?</quote> Let's say you have money in a brokerage. Not actual money you've spent on stock, just money laying around in the brokerage you haven't used. They'll usually pay you interest on that, like a checking account. It's not much. Robinhood makes some money by not doing that https://support.robinhood.com/hc/en-us/articles/360001226106-How-We-Make-Money</quote> So basically if you transfer money over to them and it just sits there they aren't giving you anything for it but other companies would? I guess that doesn't make a huge difference as long as you're immediately buying stuff up right?</quote> ... Copied to Clipboard!
emblem boy 10/01/18 8:53:39 PM #31:	Hexenherz posted... emblem boy posted... Hexenherz posted... Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time? I believe in M1, you can buy fractional shares, rather than having to buy a full share. Hexenherz posted... emblem boy posted... s0nicfan posted... Hexenherz posted... Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? And they don't give interest for the money you have laying there. Can you explain this in more detail? Let's say you have money in a brokerage. Not actual money you've spent on stock, just money laying around in the brokerage you haven't used. They'll usually pay you interest on that, like a checking account. It's not much. Robinhood makes some money by not doing that https://support.robinhood.com/hc/en-us/articles/360001226106-How-We-Make-Money So basically if you transfer money over to them and it just sits there they aren't giving you anything for it but other companies would? I guess that doesn't make a huge difference as long as you're immediately buying stuff up right? Yep. --- Posted with GameRaven 3.5.1 <cite>emblem boy posted [p:909793463] in Is that fr... [t:77058267]...</cite> <quote><cite>Hexenherz posted...</cite> <quote><cite>emblem boy posted...</cite> <quote> <cite>Hexenherz posted...</cite> <quote> Everyone saying "buy the stocks one by one", you ... mean buying multiple stocks but from one company at a time, right? Or ... is it literally one share at a time? </quote> I believe in M1, you can buy fractional shares, rather than having to buy a full share. <cite>Hexenherz posted...</cite> <quote> <cite>emblem boy posted...</cite> <quote> <cite>s0nicfan posted...</cite> <quote> <cite>Hexenherz posted...</cite> <quote> Friend showed it to me, sounds like one of those "too good to be true" sorta deals. If you don't know, it's a service that doesn't charge you for trades, though I guess the "one" drawback is that they take a little longer to process your trades so you can't use it for day trading (which is perfectly fine). </quote> So I guess they make their money by doing the trade immediately and then keeping as profit the money made in between when you placed the order and when they transfer it? </quote> And they don't give interest for the money you have laying there. </quote> Can you explain this in more detail? </quote> Let's say you have money in a brokerage. Not actual money you've spent on stock, just money laying around in the brokerage you haven't used. They'll usually pay you interest on that, like a checking account. It's not much. Robinhood makes some money by not doing that https://support.robinhood.com/hc/en-us/articles/360001226106-How-We-Make-Money</quote> So basically if you transfer money over to them and it just sits there they aren't giving you anything for it but other companies would? I guess that doesn't make a huge difference as long as you're immediately buying stuff up right?</quote> Yep.</quote> ... Copied to Clipboard!
Hexenherz 10/01/18 9:10:31 PM #32:	Thanks for explaining that. --- FFXIV: Herzog Erislieb (Cactaur) \| ESO: @Ultima_Vyse RS3: UltimaSuende . 99 WC/99 FISH/99 Cook <cite>Hexenherz posted [p:909794306] in Is that fr... [t:77058267]...</cite> <quote>Thanks for explaining that.</quote> ... Copied to Clipboard!
XXHornDogXX 10/03/18 12:38:16 AM #33:	It pretty legit. they even have crypto on there now... not that it determines their legitimacy... <cite>XXHornDogXX posted [p:909865421] in Is that fr... [t:77058267]...</cite> <quote>It pretty legit. they even have crypto on there now... not that it determines their legitimacy...</quote> ... Copied to Clipboard!
Solid Snake07 10/03/18 12:44:01 AM #34:	You can totally use it for day trading. It's pretty bare bones platform but yeah it's legit. Great tool for people who can only afford to make small trades. Commission fees really cut into your returns unless you're trading thousands of dollars per trade. They just don't offer the kind of support you would get from a brokerage firm. But it's a great way for people to start investing. --- "People incapable of guilt usually do have a good time" -Detective Rust Cohle <cite>Solid Snake07 posted [p:909865660] in Is that fr... [t:77058267]...</cite> <quote>You can totally use it for day trading. It's pretty bare bones platform but yeah it's legit. Great tool for people who can only afford to make small trades. Commission fees really cut into your returns unless you're trading thousands of dollars per trade. They just don't offer the kind of support you would get from a brokerage firm. But it's a great way for people to start investing.</quote> ... Copied to Clipboard!
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Current Events > Is that free stock trading app Robin Hood legit? (+) Yeah! (+)

Current Events > Is that free stock trading app Robin Hood legit?