4 ms·

To those still on RH, with all the other fee free brokers out there, why are you still on there?

brenden2 7y ago
TD Ameritrade is pretty good, as is tastyworks. Interactive Brokers is great for price and execution, but their tooling is not wonderful. For options specifically, I would go with tastyworks.
siddarthd2919 7y ago
The UI is what keeps me
chickenpotpie 7y ago
I don't want to pay $75 to move my shares to another broker. I also don't want to risk selling all my shares right now, transferring the money to my bank, then transferring it to another broker, and buying them again and risking the market coming back during that process and losing thousands of dollars. There's probably a way to transfer out faster for free, but I don't know it. Any new money I invest will be in a different broker, though.
- kasey_junk 7y ago
  This plus I don’t trade enough that the downtimes matter. I buy twice a month on a fixed schedule they’ve not been down on any of those times so I wouldn’t know they have issues if it weren’t for the news.
  - chickenpotpie 7y ago
    Exactly, I the only times I trade are when I get a paycheck and when I need to re-balance my portfolio.
- deleted 7y ago
  [deleted]
- ProAm 7y ago
  The question there is did you lost more than $75 not executing trades you wanted to execute? There's risk but a lot of risk in a platform that might crumble because its a startup.
  - chickenpotpie 7y ago
    I'm not a day trader, I only trade about twice a month
- lykr0n 7y ago
  I moved from Robinhood to Schwab, and didn't know about this fee on Robinhood's side. So I ask Schwab support and they not only told me about it, they gave me an additional $75. YMMV but I think most brokerages would be happy to help if you ask.
ThisIsTheWay 7y ago
All of my positions are long, and temporary outages like these have no impact on my trading performance. If I were just starting out I probably wouldn't select Robinhood given the recent issues, but I don't see the need to change to a different platform at this time.
andreilys 7y ago
Because it takes too long to move my money and I would be missing lots of good trading opportunities
ra7 7y ago
There's no reason to be on RH anymore if you're buying/selling shares. But they do offer free option trades, whereas you need to pay $0.65 per contract on Schwab for example. Personally, for the volume of options I trade, I just use Schwab and feel I'm paying $0.65 for a much better trading platform and research data availability (Schwab Trade Source).

TD Ameritrade is pretty good, as is tastyworks. Interactive Brokers is great for price and execution, but their tooling is not wonderful. For options specifically, I would go with tastyworks.

siddarthd2919 7y ago

The UI is what keeps me

chickenpotpie 7y ago

I don't want to pay $75 to move my shares to another broker. I also don't want to risk selling all my shares right now, transferring the money to my bank, then transferring it to another broker, and buying them again and risking the market coming back during that process and losing thousands of dollars. There's probably a way to transfer out faster for free, but I don't know it. Any new money I invest will be in a different broker, though.

kasey_junk 7y ago
This plus I don’t trade enough that the downtimes matter. I buy twice a month on a fixed schedule they’ve not been down on any of those times so I wouldn’t know they have issues if it weren’t for the news.
- chickenpotpie 7y ago
  Exactly, I the only times I trade are when I get a paycheck and when I need to re-balance my portfolio.
deleted 7y ago
[deleted]
ProAm 7y ago
The question there is did you lost more than $75 not executing trades you wanted to execute? There's risk but a lot of risk in a platform that might crumble because its a startup.
- chickenpotpie 7y ago
  I'm not a day trader, I only trade about twice a month
lykr0n 7y ago
I moved from Robinhood to Schwab, and didn't know about this fee on Robinhood's side. So I ask Schwab support and they not only told me about it, they gave me an additional $75. YMMV but I think most brokerages would be happy to help if you ask.

ThisIsTheWay 7y ago

All of my positions are long, and temporary outages like these have no impact on my trading performance. If I were just starting out I probably wouldn't select Robinhood given the recent issues, but I don't see the need to change to a different platform at this time.

andreilys 7y ago

Because it takes too long to move my money and I would be missing lots of good trading opportunities

ra7 7y ago

There's no reason to be on RH anymore if you're buying/selling shares. But they do offer free option trades, whereas you need to pay $0.65 per contract on Schwab for example. Personally, for the volume of options I trade, I just use Schwab and feel I'm paying $0.65 for a much better trading platform and research data availability (Schwab Trade Source).