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Please explain Robinhood App
Posted on 3/12/15 at 9:47 am
Posted on 3/12/15 at 9:47 am
I have received an invite and it's asking for all my personal information and just wanted to make sure this is a secure and legitimate app and not some scam. What are the features this app provides that you can not do from a regular brokerage account?
3
Posted on 3/12/15 at 9:49 am to TigerSaint1
Feature that you can't do with a regular brokerage account: Not pay for trades.
Its legit.
Its legit.
Posted on 3/12/15 at 9:52 am to TigerSaint1
It is legitimate.
It actually has way less features than a regular brokerage account...but it has free trades, which you can't really get anywhere else.
It actually has way less features than a regular brokerage account...but it has free trades, which you can't really get anywhere else.
Posted on 3/12/15 at 10:03 am to studentsect
If you're concerned about bid/ask spreads once you start trading just use online tickers and place limit orders.
Its legit.
Its legit.
Posted on 3/12/15 at 10:35 am to STLhog
Only complaint is how slow all the transactions are
It's of no use for a day trader or someone trying to become one
It's of no use for a day trader or someone trying to become one
Posted on 3/12/15 at 10:54 am to Croacka
quote:
Only complaint is how slow all the transactions are
Agree with this. I have also found that when you sell they place a hold on that money for three days. So you can not reinvest it right away.
Posted on 3/12/15 at 11:31 am to Ranger198
That's the NYSE placing a hold on your money. It take 3 days for a trade to settle and your money to become available. Most firms will float that transaction tho if you want to immediately place another trade.
Posted on 3/12/15 at 11:39 am to TigerSaint1
Only works with iOS...no Android yet
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