Current Events > Robinhood did a really good thing for people

(+) Yeah! (+)

They get a lot of hate for starting pop investing and that checking account controversy they had, but before Robinhood most brokers had commissions on trades. Now none of them do.

That is huge for people who are relatively new to investing on their own.

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Agreed, I made 800 dollars today laying in bed, a little bit of reading and research and you make ez money
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Catering to "small investors" is what allowed me to start a Roth IRA with a zero cost total market index fund at Fidelity with $100 to start.

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yeah Fidelity ended their commission trading. They have awesome customer service and ETFs

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But I can't trade Bitcoin on Fidelity....

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Commission was only $7, and you are better of not trading that often anyways. This just makes risky stuff like day trading more common.

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Robinhood made it effortless to buy Ethereum and Bitcoin. Not a wallet, but good enough.

DandyQuackShot posted...

But I can't trade Bitcoin on Fidelity....

It's getting closer. You can link your Coinbase account to view balances and institutions can use Fidelity Digital Assets to buy Wise Origin Bitcoin Index Fund.

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Squall28 posted...

Commission was only $7, and you are better of not trading that often anyways. This just makes risky stuff like day trading more common.

Now I can set aside a certain amount every month to buy stocks, before it would usually not be worth it to do this.

This inherently makes it easier for people to invest their money in the stock market, which takes time but is a fantastic way to make money.

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I did wrong clicking on this topic...will have to check out that fund. I'm really wanting to load up on PLL (lithium miner with Tesla contract).

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Yeah looking back it is crazy how brokers were able to get away w/ charging such outrageous fees.

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If anything, Robinhood made meme investing a thing. Lots of people are going to have a rude awakening once the bubble pops.

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My only problem with Robinhood is that the stock ticker that they show in their app is actually inaccurate. It smooths over lines and ends up hiding dips and spikes in the process. One time I brought up a ticket in the app and another one on Google and it was a little disturbing to see how different the two graphs were period

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Squall28 posted...

If anything, Robinhood made meme investing a thing. Lots of people are going to have a rude awakening once the bubble pops.

Meme investing always comes and goes. While I agree Robinhood has brought a lot of ignorant/meme investors in to fuck up the market, I wouldn't say Robinhood made it a thing.

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