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> They shouldn't be using Robinhood to buy individual stocks, buy cryptocurrency, or do options trading. What if they do it for fun? Personally, I would have

by dwild 8y ago

> They shouldn't be using Robinhood to buy individual stocks, buy cryptocurrency, or do options trading. What if they do it for fun? Personally, I would have fun having a few thousands there (but I'm Canadian), it's not worse than having a few thousands over a gaming computer, or gambling at the casino. If you consider Robinhood as the way to finance your retirement, well you are doing something pretty bad, but that was always true for any stock trading.

SnowingXIV 8y ago
This is a big part of it, which true some people get burned and lose money. But that doesn't mean they shouldn't do it. In fact, I'd argue it's slightly healthy to have a little bit of skin in the game to understand how these things work. If you're into numbers, it's nothing more than a game or say fantasy football and you can cheer for your favorite players (companies). Robinhood presents a nice way of making it easy to get into the stock market with a pretty interface and without going through a cumbersome broker and paying fees for things you don't understand. Do seek professional help if you are looking for 401k and retirement guidance. If anything, RH is sophisticated gambling.
vec 8y ago
If you understand what you're signing up for and still want to dabble in stock trading for fun then sure. Go wild. Everyone needs a hobby. But the homepage of robinhood.com has the following call to action above the fold: > Investing, Checking & Savings. All for Free. > Robinhood gives you the tools you need to grow your savings, invest in your future, and do more with your money. Does that sound like "this is not an appropriate way to finance your retirement" to you?
- anthuswilliams 8y ago
  What should their ad copy say instead? "Robinhood gives you the tools to lose all of your money making impulsive decisions" ? All brokerage accounts advertise themselves as investments, even if the reality is that idiots open them and lose all of their money trading options. I mean, if you really have this expectation of marketing copy, I don't blame you, that's a totally legitimate position to hold. It's just not one I would expect many people to share.
  - vec 8y ago
    The grandparent talked about treating it like fantasy sports, and if they advertised themselves like, say, Draft Kings does then it would be one thing. As it is, though, the more thoroughly you trust their representation of how their product should be used the worse off you will be. I usually take that particular trait as a big red flag that a the universe would be better off without the company in question. And yes, this criticism does apply to most brokerage accounts. Most brokerage accounts don't have half of Silicon Valley fawning over them, though.

by dwild 8y ago

SnowingXIV 8y ago

This is a big part of it, which true some people get burned and lose money. But that doesn't mean they shouldn't do it. In fact, I'd argue it's slightly healthy to have a little bit of skin in the game to understand how these things work. If you're into numbers, it's nothing more than a game or say fantasy football and you can cheer for your favorite players (companies). Robinhood presents a nice way of making it easy to get into the stock market with a pretty interface and without going through a cumbersome broker and paying fees for things you don't understand. Do seek professional help if you are looking for 401k and retirement guidance. If anything, RH is sophisticated gambling.

vec 8y ago

If you understand what you're signing up for and still want to dabble in stock trading for fun then sure. Go wild. Everyone needs a hobby. But the homepage of robinhood.com has the following call to action above the fold: > Investing, Checking & Savings. All for Free. > Robinhood gives you the tools you need to grow your savings, invest in your future, and do more with your money. Does that sound like "this is not an appropriate way to finance your retirement" to you?

anthuswilliams 8y ago
What should their ad copy say instead? "Robinhood gives you the tools to lose all of your money making impulsive decisions" ? All brokerage accounts advertise themselves as investments, even if the reality is that idiots open them and lose all of their money trading options. I mean, if you really have this expectation of marketing copy, I don't blame you, that's a totally legitimate position to hold. It's just not one I would expect many people to share.
- vec 8y ago
  The grandparent talked about treating it like fantasy sports, and if they advertised themselves like, say, Draft Kings does then it would be one thing. As it is, though, the more thoroughly you trust their representation of how their product should be used the worse off you will be. I usually take that particular trait as a big red flag that a the universe would be better off without the company in question. And yes, this criticism does apply to most brokerage accounts. Most brokerage accounts don't have half of Silicon Valley fawning over them, though.