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This is entirely thanks to Robinhood. Like the company or not, they've done a great deal to shake things up. In my opinion, it's generally been for the better,
by lawrenceyan 6y ago
This is entirely thanks to Robinhood. Like the company or not, they've done a great deal to shake things up. In my opinion, it's generally been for the better, and especially so for the average person.
- bob1029 6y agoI am ambivalent on the company (I've recently switched to another), but I have seen nothing else get my friends and family this obsessed with investing and finance. For some, this accessibility is more of a liability than an asset (i.e. gambling addicts with full options access), but I agree that its generally been for the better.
- 0xy 6y agoOptions can indeed be like gambling, but that doesn't mean we should restrict it. It'll just serve to screw over the non-rich just as the "distinguished investor" rules do. The system is already structured to favor the wealthy by denying access, restricting it because of some problems only serves to help them. Additionally, while the gambling house edge might be 1-7% in a casino, stocks are real assets (mostly) representing profitable companies (which on average increase in value over the long term).
- tupputuppu 6y agoMore likely this is due to synergies Morgan Stanley expect, such as being able to cross-sell their other products to Etrade customers, and being able to convert their current customers to Etrade. Even if Etrade is way behind the current generation of fintechs, it's way beyond what the big banks are capable of building inhouse.