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RE: Robinhood stock trading
This is not an alternative to brokers. Most people cannot afford those.
This is an alternative to online trading apps that charge upwards of $10/trade--apps like eTrade, Tradeking, and many, many more.
As for the "advice" of brokers, it's been proven time and time again that no one can predict the market.
No one can predict the market but most people who can't afford a $10 fee shouldn't be trading single stocks anyways. You don't need the advice of a broker to buy low MER ETFs. Buying a few NYSE stocks is risky, it's better to just buy an index fund and put some bonds into your mix.
Online trading platforms are usually better than the apps, they provide access to analyst reports helping investors make more informed decisions. You can also buy bonds, ETFS, mutual funds, GICs, non-NYSE stocks, use trailing stops, and do a whole lot of other things which you can't do on Robinhood. The fact that you can't buy index funds and that they are selling your information to HFTs concerns me. Robinhood is turning an entire generation into gamblers (speculators) and exploiting them.
@hatu
robhinhood is big data trading app they sell data to big trading funds to frontrun their users trades why would you promote the use such a scam?
false
First off, please point me to who has predicted the market.
As for big data: the users utilizing the free platform have such a minute impact on the market that HFTs do not care for their data. Do you actually think Citadel wants to bypass a $75 trade? Or even 1,000 $75 trades?
The net daily volume generated through Robinhood is smaller than the average trade size of a trading desk at major firms.
depends on your definition of predicting a market
do you need trades with price points either side or calling bottom and tops or calling timeframes for price directions
if you want an example of the ability to analysis and predict markets.
My Bitcoin Profit From BTC/USD trades for 2017/2018 most of which were posted on steem if you need some verification
2017 + 400%
2018 + 780%
yes i wholly believe big data trading corps would utilize the trading data they buy from millions of users to front run markets short sell pump and dump etc
Robinhood has over 4 million users
https://www.investors.com/news/robinhood-app-has-more-customers-than-online-broker-etrade/
Article with details on Robinhood selling User Data to HFT firm
https://bitcoinist.com/no-such-thing-as-a-free-lunch-robinhood-user-info-sold/