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Why would you though? What's the advantage of using Robinhood vs. say Fidelity which your 401K and other investments are already on? Robinhood executed on a few
by ctvo 4y ago
Why would you though? What's the advantage of using Robinhood vs. say Fidelity which your 401K and other investments are already on? Robinhood executed on a few things well, one of which was how mobile friendly and low friction it was to execute trades. Long term investment doesn't require that. Pseudo day trading from work and speculating? Yes.
- bombcar 4y agoRobinhood added fractional shares before other brokers (and some still don’t have them) which is a minor advantage I guess.
- 8ytecoder 4y agoInstant Deposits & Withdraw. Access to detailed MorningStar analysis for just $5/mo. (May be other brokerages have started matching Robinhood but the one I use ETrade still takes 2 full days to settle and then another 3 days to withdraw cash. It also takes 2-3 working days to deposit cash. So if you spot a buying opportunity you can't. Or, you'd always keep cash lying around and ready in the account.)
- bombcar 4y agoOr get a margin account, as that's all Instant D&W is. My TD Ameritrade lets me buy from deposit instantly, and doesn't "show" margin usage as it clears, even though it's clear from the amount I can buy that it's just the margin on the account. Withdrawals are basically instant, too though the ACH takes its normal time.
- Miner49er 4y agoSome reasons to use Robinhood over Fidelity is they have cheaper margin, easier access to cryptocurrencies (well maybe not anymore), and easier access to options trading.
- deleted 4y ago[deleted]