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Posted: 1/20/2017 7:12:27 PM EDT
[#1]
Quoted:
http://robinhood.com I'm a beginner wanting to trade on the NYSE (penny stocks) and I found this app through a programmer friend. Free trading with no minimums. I'm using it on my iPhone but I'm guessing it's also on Android. Yes. |
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Posted: 1/20/2017 8:02:59 PM EDT
[#2]
Anyone else use this?
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Posted: 1/20/2017 10:41:04 PM EDT
[#3]
Quote HistoryQuoted:
Anyone else use this? Yes. |
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Posted: 1/22/2017 11:43:11 PM EDT
[#4]
no in-kind transfers or options, but fine for average person.
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Posted: 1/25/2017 1:46:53 PM EDT
[#5]
I like it.
I have a traditional brokerage account with automatic monthly deposits and purchases. I use Robinhood to throw in an extra $1000 here and there. My deposits are available immediately for trades and the interface is simple with good reporting. I have yet to find a downside. |
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Posted: 1/25/2017 3:19:26 PM EDT
[#6]
Argh, only works for NYSE. Is there a similar app for NASDAQ?
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Posted: 1/26/2017 11:16:26 AM EDT
[#7]
Quote HistoryQuoted:
Argh, only works for NYSE. Is there a similar app for NASDAQ? Not true. I bought and own NASDAQ stocks with Robinhood. |
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Posted: 1/26/2017 11:25:47 PM EDT
[#8]
Quote HistoryQuoted:
Not true. I bought and own NASDAQ stocks with Robinhood. Hmm, ok. I have two near worthless penny stocks I own that do not show up but I can still trade them on ETrade. When I signed up on Robinhood I tried looking them up and they don't show in a search. |
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Posted: 1/27/2017 12:49:00 AM EDT
[#9]
Quote HistoryQuoted:
Hmm, ok. I have two near worthless penny stocks I own that do not show up but I can still trade them on ETrade. When I signed up on Robinhood I tried looking them up and they don't show in a search. They are probably OTC stocks. RObinhood doesn't do OTC stocks. https://support.robinhood.com/hc/en-us/articles/208650286-Available-Securities-on-Robinhood |
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Posted: 1/28/2017 1:18:37 PM EDT
[#10]
So if it's free trades how are they making money?
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Posted: 1/30/2017 3:47:54 PM EDT
[#11]
Quote HistoryQuoted:
So if it's free trades how are they making money? From their site... https://support.robinhood.com/hc/en-us/articles/202853769-How-does-Robinhood-make-money- Robinhood makes money in many of the same ways as traditional online brokerages. These include: Revenue from Robinhood Gold, our collection of premium services including margin and extended hours trading, starting at $10 a month (Learn more) Accruing interest from customers’ uninvested cash balances. It is important to note that our customers are not charged. Robinhood has raised $66 million from NEA, Index Ventures, Ribbit Capital and others. |
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Posted: 2/18/2017 1:52:08 PM EDT
[#12]
So why is anyone still with TD Ameritrade, Scottrade, Capital One Investing, or Etrade?
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Posted: 2/19/2017 9:35:03 AM EDT
[#13]
It's not full featured. No ACAT, bonds, options, etc etc
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Posted: 2/20/2017 1:25:28 PM EDT
[#14]
Quote HistoryQuoted:
So why is anyone still with TD Ameritrade, Scottrade, Capital One Investing, or Etrade? -Better software platforms -faster trade processing -larger product offering (forex, options, futures ect) Robinhood is fine to get started. Nothing wrong with it. |
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Posted: 2/20/2017 1:39:58 PM EDT
[#15]
Can you only trade from your phone?
Can you setup limit buy/sell trades? |
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