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There's only one context, you can't misrepresent the market. You also sign a lot of paperwork stating that you understand the mechanics and risks of trading. T

There's only one context, you can't misrepresent the market. You also sign a lot of paperwork stating that you understand the mechanics and risks of trading. There are several levels between buying stock and selling options that you need to ask approval for.

slg 6y ago
You also have to agree to a EULA to create an account on the App Store to download Robinhood. How many people read that EULA? How many people read whatever paperwork Robinhood asks you to read? The truth is that Robinhood targets a less educated segment of the market. They have a moral responsibility to either educate those users or put protections in place so it is harder for those users to harm themselves due to the lack of an education that can be assumed standard in other investment contexts.
- manigandham 6y ago
  This is not an EULA. It's a serious contract with real signatures and legal repercussions. You cannot claim that you didn't read it and just deny any consequences. I already stated elsewhere that there should be more verification and testing of credentials and knowledge but at some point, the adult making the decision still has the final responsibility.
  - slg 6y ago
    I didn't say it was a EULA, I was comparing it to the EULAs that users are accustomed to agreeing with. I don't know Robinhood's specific process, but do they make it clear that what the user is agreeing to is something distinctly different than a EULA? Do they accurately communicate what is being agreed to or do they just assume the user read and understood the paperwork? >I already stated elsewhere that there should be more verification and testing of credentials and knowledge but at some point, the adult making the decision still has the final responsibility. And in the absence of this verification and confirmation of credentials, Robinhood should be expected to communicate these details in a way that even someone without those credentials can easily understand.
    - manigandham 6y ago
      Reading and understanding the paperwork is your responsibility, and you attest to it in those same documents. Saying you didn’t know what you were signing isn’t an excuse and doesn’t relieve you of your contract. While more verification is necessary, lying about your credentials is still your fault, if not outright criminal.

slg 6y ago

You also have to agree to a EULA to create an account on the App Store to download Robinhood. How many people read that EULA? How many people read whatever paperwork Robinhood asks you to read? The truth is that Robinhood targets a less educated segment of the market. They have a moral responsibility to either educate those users or put protections in place so it is harder for those users to harm themselves due to the lack of an education that can be assumed standard in other investment contexts.

manigandham 6y ago
This is not an EULA. It's a serious contract with real signatures and legal repercussions. You cannot claim that you didn't read it and just deny any consequences. I already stated elsewhere that there should be more verification and testing of credentials and knowledge but at some point, the adult making the decision still has the final responsibility.
- slg 6y ago
  I didn't say it was a EULA, I was comparing it to the EULAs that users are accustomed to agreeing with. I don't know Robinhood's specific process, but do they make it clear that what the user is agreeing to is something distinctly different than a EULA? Do they accurately communicate what is being agreed to or do they just assume the user read and understood the paperwork? >I already stated elsewhere that there should be more verification and testing of credentials and knowledge but at some point, the adult making the decision still has the final responsibility. And in the absence of this verification and confirmation of credentials, Robinhood should be expected to communicate these details in a way that even someone without those credentials can easily understand.
  - manigandham 6y ago
    Reading and understanding the paperwork is your responsibility, and you attest to it in those same documents. Saying you didn’t know what you were signing isn’t an excuse and doesn’t relieve you of your contract. While more verification is necessary, lying about your credentials is still your fault, if not outright criminal.