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Couldn't agree more. Just because the UI doesn't look like it was designed by a committee of boomers and is instead pleasant to look at and use, doesn't mean it

Couldn't agree more. Just because the UI doesn't look like it was designed by a committee of boomers and is instead pleasant to look at and use, doesn't mean it's "gameified" somehow. I've had a RH account for years, and the only "gameification" I've ever seen was the little game they had to get off the wait list for their debit card (perish the thought!). Actually trading and evaluating stocks or other assets is nearly the same as what you'd get on Etrade or whatever, just displayed more pleasantly and without fees. Also, does anyone really believe that we would be better off if everyone were paying transaction fees for trades? The door for HFTs buying trading data is open and can't easily be closed (unless there were regulatory action, which seems unlikely), so what good does it do anyone to pay fees if she can avoid it? The whole article just seems like an unfocused attack on finance as a whole, whether the anger is justified or not.

filoleg 6y ago
>does anyone really believe that we would be better off if everyone were paying transaction fees for trades? I don't like throwing accusations around randomly, but I feel like people arguing FOR fees in this thread (which is really strange to see) are experiencing a strong case of "biting off the nose to spite the face". The only defense for fees in the thread I see just seems to boil down to "well, if you think those fees are too much, then you probably would have been better off not trading", which just sounds like straight up gatekeeping of people who aren't wealthy or those who prefer to invest a bit more manually than just throwing all their cash in a mutual fund/etf once a month.
- jjeaff 6y ago
  Do you have any data that suggests that $0 transaction fees leads to a net gain for consumers? Because I think the point the naysayers are making is that $0 transaction fees are not actually a benefit.
  - filoleg 6y ago
    >Because I think the point the naysayers are making is that $0 transaction fees are not actually a benefit. I don't know what kind of data you are looking for in support of my point, but I think it is a net positive for a person when they get something for free instead of paying for it if the experience becomes unchanged otherwise. I traded using platforms that required fees before RH, and those small transaction fees add up and make certain trading strategies straight up unviable, unless the amounts you trade are giant. For a small retail trader like me, it certainly has saved me a ton of money over time and allowed me to execute on trading strategies I simply couldn't before. So, basically, the lack of transaction fees just opens up more opportunities for more people, without taking away anything from the rest. I count that as a net win.

filoleg 6y ago

>does anyone really believe that we would be better off if everyone were paying transaction fees for trades? I don't like throwing accusations around randomly, but I feel like people arguing FOR fees in this thread (which is really strange to see) are experiencing a strong case of "biting off the nose to spite the face". The only defense for fees in the thread I see just seems to boil down to "well, if you think those fees are too much, then you probably would have been better off not trading", which just sounds like straight up gatekeeping of people who aren't wealthy or those who prefer to invest a bit more manually than just throwing all their cash in a mutual fund/etf once a month.

jjeaff 6y ago
Do you have any data that suggests that $0 transaction fees leads to a net gain for consumers? Because I think the point the naysayers are making is that $0 transaction fees are not actually a benefit.
- filoleg 6y ago
  >Because I think the point the naysayers are making is that $0 transaction fees are not actually a benefit. I don't know what kind of data you are looking for in support of my point, but I think it is a net positive for a person when they get something for free instead of paying for it if the experience becomes unchanged otherwise. I traded using platforms that required fees before RH, and those small transaction fees add up and make certain trading strategies straight up unviable, unless the amounts you trade are giant. For a small retail trader like me, it certainly has saved me a ton of money over time and allowed me to execute on trading strategies I simply couldn't before. So, basically, the lack of transaction fees just opens up more opportunities for more people, without taking away anything from the rest. I count that as a net win.