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I think even novice traders know what margin is. I'd prefer they just use the correct nomenclature. I have an account with Robinhood and have much more than $5
by nodesocket 10y ago
I think even novice traders know what margin is. I'd prefer they just use the correct nomenclature.
I have an account with Robinhood and have much more than $500 in it. I don't think the assumption that most of their users only put small amounts is entirely accurate. I like Robinhood because I can lower my dollar cost average buy buying small little chunks on the way down commission free.
- artursapek 10y agoRH's headline feature is "free trading," a feature that mostly appeals to people who are investing smaller amounts (for whom an $8 commission is significant). Their oversimplified interface is consistent with this targeting of novices. I'm saying it as a generality - of course it's not completely black and white. That said, RH does have several problems - notably their unreliability on days of high volatility and their poor customer support - that generally deter bigger investors from using them over a traditional broker.