Robinhood Reviews

Excellent trading platform

After skimming through about a dozen negative reviews of Robinhood I needed to speak out Other than a few navigation issues with the app looking for a few rules Robinhood does exactly what it is supposed to do I don t think many customers realize that to offer FREE trades Robinhood needs to make a profit to stay in business They make most of their profit by leveraging interest gained during the short times between when you transfer money to RH from your bank account and in the time between when you sell stocks and the transaction is completely done which is not the point at which you actually sell your stock Robinhood is required to follow all trading regulations set by various domestic and international government regulatory bodies Unless you are a day trader in which case you must follow different guidelines in general you should never expect to have funds available for transfer or buying power for several days after a request is made That is unrealistic and not what investing is about If you hear about brokerage firms selling a person s stock and making the funds immediately available that is not really what is happening What IS happening is that large brokerage firms actually front the money to the customer and then when the actual funds are posted to the brokerage firm the customer does not get that because they ve already been paid Brokerages charge fees for trading maintenance and getting your funds quickly etc and these costs are significantly higher than the tiny interest that Robinhood receives while processing funds through their brokerage Currently RH is offering a debit card tied to a customer s account to reduce the time needed for funds to be available If people refuse to take the time to learn about online trading or to use a brokerage firm and pay their fees they deserve to learn a hard lesson about investing That it s not for everyone Final Note Many of the negative reviews for Robinhood on Trustpilot are thinly veiled scams and brokerage firm agents trying to scare customers away from Robinhood People need to keep in mind that these particular brokers skirt the fine line between opinion and actionable activities i e legal consequences - Before anyone chooses to deal with any of the broker agents posting their emails on Trustpilot reviews of Robinhood they will need to consider the possibility that if a brokerage is sued by Robinhood in the future not an unlikelihood and Robinhood wins also not an unlikelihood that the brokerage firm will pass on those legal costs to their customers Nothing is free or without risk in the investing business