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The biggest broker in the world? I use both Robinhood and Schwab, and the Robinhood app is absolutely terrible. The visual aesthetic is nice, but usability is

The biggest broker in the world? I use both Robinhood and Schwab, and the Robinhood app is absolutely terrible. The visual aesthetic is nice, but usability is awful... I don't really understand the hype. For example they have no dedicated orders screen to cancel limit order that I can tell. There's an "inbox" where your limit order will show up after some delay. I placed an order once and decided to cancel it, but the inbox message didn't show up for 5 minutes, so I had no way to cancel it. Also you can't see older than 5? years on stock charts. Or zoom or anything, only specific presets. Finally, I bought a small amount of crypto, and did a market order sell once, and my fill price was like 10% under current market value. Obviously market orders are bad, but most brokers have safeguards that prevent executing them at such a difference from last traded price. Anyway, bad experience all around. I imagine the only people who use it seriously are those that haven't tried more serious brokers, or that don't know any better. The idea behind Robinhood is good, but it could be done so much better. So many obviously bad design elements

rfd4sgmk8u 5y ago
Totally agree, I have multiple brokerage accounts and RH is the least feature rich. RH was my first, but I understood its limitations early. It did also allow free trades which was unbelievable at the time. It is the easiest to use and most approachable broker for new people, young people. The UI is kinda genius, really, for what it is. Most people will stop at RH, the idea of a complex brokerage account is beyond their comfort zone. They will not see the need to look elsewhere, as it has everything they believe they need in one app. These things are not about you or I, they are about the acceptability by the masses. And the masses love RH. You cannot dismiss the huge effect they had on the industry with their business model, and they have lots more things planned.
- adam_arthur 5y ago
  Definitely the concept is great! However it can be done so much better. I only used the app for a few weeks and encountered so many problems. I'm even surprised people tout their UI as a pro. The visual flair/theme is nice, but it's quite poor from a UX perspective. Sidenote, I don't get why brokers don't offer a monthly payment to avoid having your order flow sold/provide better fills. Lots would take up on that

rfd4sgmk8u 5y ago

Totally agree, I have multiple brokerage accounts and RH is the least feature rich. RH was my first, but I understood its limitations early. It did also allow free trades which was unbelievable at the time. It is the easiest to use and most approachable broker for new people, young people. The UI is kinda genius, really, for what it is. Most people will stop at RH, the idea of a complex brokerage account is beyond their comfort zone. They will not see the need to look elsewhere, as it has everything they believe they need in one app. These things are not about you or I, they are about the acceptability by the masses. And the masses love RH. You cannot dismiss the huge effect they had on the industry with their business model, and they have lots more things planned.

adam_arthur 5y ago
Definitely the concept is great! However it can be done so much better. I only used the app for a few weeks and encountered so many problems. I'm even surprised people tout their UI as a pro. The visual flair/theme is nice, but it's quite poor from a UX perspective. Sidenote, I don't get why brokers don't offer a monthly payment to avoid having your order flow sold/provide better fills. Lots would take up on that