Current Events > What happened with RobinHood?

(+) Yeah! (+)

I remember everyone hyping that site up during this stock market thing, but it sounds like everyone's turned against it, maybe?

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I moved all my shit to Fidelity and uninstalled Robinhood.

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For all the hate it gets it did force other brokerages to stop charging trading fees.

But there are better brokerages out there now.

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The main reason currently is how they handled the GME situation. They shut down BUYING but not the selling of GME at one point and are blamed for stopping GME from "going to the moon" by some people. Like GME was going up and up and up and Robinhood stopped buying and it stopped going up.

Now, are they to blame? That's where it gets tricky. They say they had to stop trading so they could meet regulations regarding amount of money on hand. The fervid WSB people say it was a plot to stop the hedge funds from losing tons of money.

either way, Robinhood took a huge ding to their name.

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Sayoria posted...

I moved all my shit to Fidelity and uninstalled Robinhood.

Same, just haven't uninstalled RH yet for some reason lol.

I do hate having to recreate my records since they didn't fully import over from Fidelity, but I do appreciate how much more insightful Fidelity's reports, analyses and profiles of investments are.

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I opened a fidelity account but simple tasks like looking at my portfolio and trading are so much more cumbersome than on RH, plus it takes forever for money to settle. So basically I'm keeping RH for basic trades out of convenience but using Fidelity for research and OTC trades.
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RH tried to rig the game against their customers and so everyone left.

@lilORANG If you spend a lot of time on a computer I recommend downloading Active Trader Pro, it's a free program from Fidelity and it's... actually really cool. Lets you organize your display however you want, shows you real time analysis of stocks, lets you trade, transfer money, etc.

It honestly reminds me a little of WinMX but it's a really cool program, takes a few minutes to get used to though.

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It got a bunch of free advertising and nothing happened to it.