3 ms·
Robinhood's behavior here is wicked and wrong. Yes, Robinhood's EULA technically allows them to do this wicked thing. The same EULA says that Robinhood can't be
by quotemstr 6y ago
Robinhood's behavior here is wicked and wrong. Yes, Robinhood's EULA technically allows them to do this wicked thing. The same EULA says that Robinhood can't be sued over it or anything else.
It's about time we talk about how it's not in the public's interest to allow companies to put arbitrarily user-hostile terms in their user agreements.
- freeone3000 6y agoEULA allows them to close out a margin call, but not sell shares held for a client. Selling held shares without a standing order from the client is illegal, no matter what an EULA says.
- jrochkind1 6y agoAre you looking at a particular clause in the EULA? Where do we find the EULA?
- SpicyLemonZest 6y agoThe challenge in this case is that many people want this. They see it as only fair that the little guy should be allowed to invest on the same (sometimes user-hostile) terms as big institutions do. If you pass a new regulation saying that margin calls feel scummy so nobody can offer small investors a margin account, is that really a win for small investors?