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"Robinhood" steals from its users to gives to its investors: "Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders" [1

"Robinhood" steals from its users to gives to its investors: "Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders" [1] "Robinhood Investing App Secretly Makes Millions Selling Millennials' User Data To HFT Firms" [2] [1]https://seekingalpha.com/article/4205379-robinhood-making-millions-selling-millennial-customers-high-frequency-traders https://seekingalpha.com/article/4205379-robinhood-making-mi... [2]https://www.zerohedge.com/news/2018-09-15/robinhood-investing-app-makes-millions-selling-users-data-high-frequencstealing https://www.zerohedge.com/news/2018-09-15/robinhood-investin...

Zooper 8y ago
So, they're exploiting users in some of the ways banks are, but not all ways currently. Other banks do all of the things listed above already, have been for decades.
gruez 8y ago
I skimmed both of your links and they both sound like https://en.wikipedia.org/wiki/Payment_for_order_flow https://en.wikipedia.org/wiki/Payment_for_order_flow, which is regulated. Specifically, they can't give you a worse price than what the NMS provides, so you're not getting a worse price. What's the issue here?
talltimtom 8y ago
Robinhood is a small operation that’s skimming pennies off your transactions to fund its operation. The alternative is banks who are doing the sambut times a hundred and banks are making a ton of money off their customers even with 100 times as many employees as robinhood. They are not bad guys’s. They are still making money(surprice!?), but they are much much more modest about it than traditional banks. This account is a fine example. They don’t need to give you a 3% deal, but they are doing it anyway because it’s benefitting both them and their costumers.
- dragonwriter 8y ago
  > Robinhood is a small operation that’s skimming pennies off your transactions to fund its operation. The alternative is banks There are other alternatives, e.g., credit unions.

Zooper 8y ago

So, they're exploiting users in some of the ways banks are, but not all ways currently. Other banks do all of the things listed above already, have been for decades.

gruez 8y ago

I skimmed both of your links and they both sound like https://en.wikipedia.org/wiki/Payment_for_order_flow https://en.wikipedia.org/wiki/Payment_for_order_flow, which is regulated. Specifically, they can't give you a worse price than what the NMS provides, so you're not getting a worse price. What's the issue here?

talltimtom 8y ago

Robinhood is a small operation that’s skimming pennies off your transactions to fund its operation. The alternative is banks who are doing the sambut times a hundred and banks are making a ton of money off their customers even with 100 times as many employees as robinhood. They are not bad guys’s. They are still making money(surprice!?), but they are much much more modest about it than traditional banks. This account is a fine example. They don’t need to give you a 3% deal, but they are doing it anyway because it’s benefitting both them and their costumers.

dragonwriter 8y ago
> Robinhood is a small operation that’s skimming pennies off your transactions to fund its operation. The alternative is banks There are other alternatives, e.g., credit unions.