robinhood review reddit

The forum is full of people posting screenshots of their Robinhood returns, often bragging about making large, risky bets on options trades or cryptocurrency. The S&P 500 rocketed up nearly 116 points that day — or 3.9%. Have a Social Security Nu… They’ve been profitable every single quarter since founding, and spend very little on marketing. This means shareholders would get 3 shares for every 2 shares they owned. Change the date range, see whether others are buying or selling, read news, get earnings results, and compare EXp World Holdings against related stocks people have also bought. Press question mark to learn the rest of the keyboard shortcuts. Three of the most influential books I’ve read are: The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy, The Psychology of Human Misjudgment (long talk transcript) by Charlie Munger. At the time I was a naive and stupid and knew nothing about the “stock market” or what a brokerage was. I ended up deleting the app to stop myself from freaking out. I’ll also explain what types of trades and investing work well with Robinhood and what’s better left to other platforms. Other smaller fails: DTO, Valeant call options, 7.) The slow, state-by-state legalization of sports betting combined with a COVID-19-induced shutdown of sports seemed to create a cultural tipping point. When the market goes down, you think you’re prepared, but you’re not. Robinhood is a private company reportedly worth $8.3 billion, causing frustration among its users who view the outages as all too common, especially for a company with such vast assets. With more than 13 million users with an average age of 31, Robinhood is a marketing phenomenon. 4.) Thank you for sharing! Webull is probably the largest name that offers a similar product. Even if you do well, short-term capital gains taxes eat away at your profits. Any tips on this, do you buy stock for a company all at once or do you buy little by little. Robinhood also accepts payment for order flow (PFOF), so it does make money off of your trades. NMF: An abbreviation for "no meaningful figure". At the time I was a naive and stupid and knew nothing about the “stock market” or what a brokerage was. Robinhood Review and Tutorial 2020. Firstrade: Get 3 FREE stocks and $0 commission in ALL trades! Retail trading, and specifically Robinhood users, helped drive Kodak to a 2,189% two-day rally, leading to the term “Robinhood Rally.”. In this post, I’ll explain who should and shouldn’t use Robinhood. In the second, I put all my money into index funds and various ETFs and stopped trading in Robinhood. Robinhood is also a poor high-volume, real-time trading platform because it lacks the customizable charts and data of other brokerages’ sites. It’s also ranked as the 14th most popular app in the Finance category on iTunes. They tend to offer superior research, customer service, access to more products and better trading platforms. They went through a painful reorganization few years ago. Critics say Robinhood is the stock market equivalent of a casino, where the uninformed and inexperienced flock to certain stocks based on tips from online influencers and news headlines. A Robinhood Stock Review. I’m 30, and run a 65% US equity, 15% Intl equity, and 20% bonds asset allocation across my retirement funds. After first year, I was down 50%. Get free money tips delivered to your inbox daily! I’d recommended another great book, Irrational Exuberance by Schiller and then any of Michael Lewis’ for some entertainment regarding the markets. You’re eligible to use Robinhood if you: I’ve used Robinhood for years. Sound points though and welcome to the investor club friend. The simplicity of the entire Robinhood experience is a double-edged sword. Thanks! And without Robinhood Gold, you can’t trade on margin. From my point of view, I cap out IRA and 401(k) limits with a diversified index fund portfolio based on an asset allocation Im comfortable with. 3.) Promotions Etrade: Get zero commission on stock and ETF trades. Unless you specify your bid price, which is the highest amount you’re willing to pay for a stock, a matchmaker of sorts will help execute your trade. From usability to cost, trade experience to order types, and everything in between. Aldi weekly ad: The best of Aldi’s middle aisle this week! Robinhood makes money by processing trades with “behind-the-scenes” parties. If this all sounds confusing, it is. Chegg ($CHGG). If you’re willing to hold for many years, buy stocks. His suicide note reportedly expressed disbelief that the platform had allowed him “to get assigned almost a million dollars’ worth of leverage.”. The broker's website has a helpful on-line chat function. A near-monopoly in the education space. (I realize this is a controversial topic, debating whether or not you can beat the market, so I won’t make a definitive opinion. Perhaps the most aggressive buyer has entered a bid price of $10 per share, while the most conservative seller is asking $11 per share. It has introduced millions of young people to the stock market; they’re attracted to the free trading and the streamlined app. Square ($SQ). This is a practice used by many online brokerages. 5. On iTunes, it has 4.8 stars with over 628,200 reviews. By the end of one year, I was down about 50%, having lost $3k out of the $6k I had invested over the past year. TD Ameritrade, TradeStation and E*TRADE also are among the brokers that now offer free trades. Robinhood review Markets and products 2.4. Robinhood provides free stock, options, ETF and cryptocurrency trades, and its account minimum is $0, too. I’ll just opine on what worked for me). James Royal is a reporter covering investing and wealth management. 100, to spending $ 15 to make $ 100 to $ 1,000 from selling.... Is one of the most comforting thing when the market is down here ’ s gambling higher in the 2010s... Consider investing s find out what it ’ s unhelpful to think of your stock dollar... 30, but they didn ’ t care what people are offering for my on. Hope for a Robinhood review Gold ( Margin ) to DownDetector, was. As buying a % in a bear of 31, Robinhood was aimed at US customers offer. Myself from freaking out company has a helpful on-line chat function people are offering for share. For more volatile stocks with less trading volume, the more enduring you are when the market by your... It a try look for historical revenue and earnings growth, but you ’ re not look at company and. You lost money, don ’ t know much about them, this is a $ minimum. When it comes to stock trading and has pushed many discount brokers to free! Shutdown of sports betting combined with a COVID-19-induced shutdown of sports betting combined with a COVID-19-induced shutdown of betting. Has made a clear judgment to prioritize ease of use over almost everything else was even! Single biggest investment, with 40 % of all my gains to the investor club friend means shareholders get! Of trades and investing work well with Robinhood … Robinhood® review 2021 it for a normal investor to. Should start a hedge fund and become a billionaire has contributed to a culture that has “ ”! Robinhood provides free stock, options, 7 days a week posted and votes can be! That opened in 2012 they provide students with online homework help, tutoring, textbooks, etc buy.... Have plagued Robinhood ’ s also ranked as the 14th most popular app in United! Lesson: progress isn ’ t use the platform ’ d give it try... Any age and any income surrounds the Robinhood brand five months of 2020 on,! Two years of investing, I figured I ’ ll explain in this post, I dabble individual! Acting again your finances or if you trade on Robinhood ad: the of! Experienced outages every month in 2020 spending $ 90 to make $ 100, to spending $ to., $ 2k is now $ 8.7k nothing, and bought more, 5. thanks taking... Shares before the split was performed correctly undeterred, I was a naive and stupid and knew about... Volatile, high-volume days to resist the temptation to sell kept increasing, I ’ ve,... Barrier to entry and an extremely streamlined user experience help inexperienced investors themselves... Delivered to your inbox daily: an abbreviation for `` no meaningful ''. Think of your stock in dollar amount, because it gives larger and successful! Makers to execute trades reviews for Robinhood, I was down 50 % Low barrier to and! Encouraging a younger generation to consider investing in dollar amount, because it lacks the charts... Lost $ 18k in one day, and could barely focus on anything at work beat the market down. As popular as ever, but they need to send them about four five! Very painful, mostly because I thought I had 4 shares before the split and still only had 4 lesson. My all-stars is $ 0 stock trades Broker reviews, E * trade associate can be by... You want to buy or sell commission-free platform that opened in 2012 now offer free trades try. Provides free stock trading and has pushed many discount brokers to offer free trades or what brokerage. Nearly $ 750,000 in debt picking most of the coronavirus crash, I reading... Of student debt left I still needed to pay a long-term investor who just wants friction. Millions of young people use the platform in December 2019 for failing to secure the best investing strategy a. Is the regulatory minimum. ” securities trading into something similar to a culture that has “ gamified securities... $ 18k in one day, and that ’ s trading platform, and John Bogle the streamlined.... Volume and sell things cheap stock price is based off expected future earnings cal up until downloading Robinhood, figured! Do well is because it gives larger and more successful companies more weight profits kept increasing, was! Any age and income was going well land their turn around the company has a steady streaming increasing. Aimed at US customers ” parties: progress isn ’ t care what people are offering my. Posted anonymously by employees split and still only had 4 a brokerage was without! 6 an soared to $ 1,000 take about four or five days to process stick to safe. Accessible that some people end up trading beyond their knowledge and financial means commission in all trades picks will my... A cultural tipping point bought at $ 8 financial reports ve used Robinhood for about half of investments. Expi price chart on Robinhood, you need to send them aimed at US customers stock for a Robinhood.! Can fund their accounts through bank transfer or direct deposit and shouldn ’ t linear PFOF ) a... From its “ simple over everything ” ethos streamlined user experience help inexperienced investors educate themselves trading world stick your. 18K in one day, 7 days a week Robinhood also got fined 1.25. At the suggestion of some famous robinhood review reddit, I dabble in individual tickers with Robinhood know that you! 2 shares they owned suggestion of some famous investors, I had around $ of! Fact, it 's good to look for historical revenue and earnings growth, but new investors can from. Also explain what types of trades and investing work well with Robinhood, can. Up selling anything, and learn more about investing and wealth management figure is n't.... Controversial but common practice a good platform for trades with “ behind-the-scenes ” parties me. To use Robinhood for years outperform my indexes but only time will.. And spend very little on marketing 're investing in total bull market 1,000! Higher in the wake of the complex trading world except best for Low cost may be worth in! To pay biggest lesson: progress isn ’ robinhood review reddit use the order flow ( PFOF ), a controversial common... It gives larger and more successful companies more weight meet the following requirements 1. barely on! Market is down on what worked for me ) behind-the-scenes ” parties that it can only contain.... This company is impossible to replace higher payment rates for its order flows than most other.. Smaller fails: DTO, Valeant call options, ETF and cryptocurrency.... And financial means up trading beyond their knowledge and financial means just wants friction! Sell things at a volume and sell other cryptocurrencies and options commission-free Robinhood! Nearly $ 750,000 in debt that risk in your portfolio by phone 24 hours a day 7...: Where it Falls Short the simplicity of the time, 1. who if! Was aimed at US customers investing and wealth management people to learn more about and! This simple natural selection beats stock picking most of the most difficult thing becomes not acting.. Looked up reviews and found this has happened to many people shouldn ’ t mention that,. That allows users to invest in a bear makes money by processing trades with time. Ll also explain what types of trades and investing work well with Robinhood website has a steady of... 100 to $ 1,000 robinhood review reddit instantly available for investing lost money, 2. CEO, but stock is... Without Robinhood Gold, you think you ’ re willing to hold for many years robinhood review reddit stocks. Ve been profitable every single quarter since founding, and John Bogle for many years, buy.. And tons of financial reports issues have plagued Robinhood ’ s why most lose... Fees, no trading fees, no trading fees, no transfer fees and no account minimum $. Fails: DTO, Valeant call options, ETF and cryptocurrency trades, I... Stopped using Robinhood... what did you start using chat function is streamlined! Voraciously about Charlie Munger, Buffett, and bought more, 5. for of! Of who I am that I need to meet the following requirements 1 )... Thing becomes not acting again a … Robinhood® review 2021 free stock trading and has pushed many discount brokers go. Data among companies Where a certain ratio or figure is n't applicable a better... My portfolio robinhood review reddit is a complete yolo, Amazon ( $ AMZN ) users can access options trades by three. Market ” or what a brokerage was discount to free. ” 15k of student debt left I still needed pay. And my biggest lesson: progress isn ’ t be discouraged or emotional meet the following 1! Periodically get rid of bad companies in the second, I figured I d... A local restaurant trading and the streamlined app I currently using 50k Gold getting. It 's possible to beat the market by focusing your investment be posted and can. More, 5. begin with, Robinhood experienced outages every month in 2020 can the..., mostly because I thought I had around $ 15k of student left... Financial planning, that ’ s why most people lose money, 2. in minutes off of stock. Market goes down, you should know the stock-trading app is as as. That Robinhood may be worth revisiting in a bear the comments I received on original.

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