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Started By
Message
If Robinhood goes under tomorrow will I lose everything?
Posted on 1/29/21 at 9:15 am
Posted on 1/29/21 at 9:15 am
If so, can I transfer my investments to another firm?
5
Posted on 1/29/21 at 9:18 am to caill430
Posted on 1/29/21 at 9:18 am to caill430
No, you still own the shares and can transfer to another firm. I'd go ahead and transfer now though.
Posted on 1/29/21 at 9:20 am to Vols&Shaft83
But what’s the timeline on a transfer. My fear is transferring and it gets held up and I won’t be able to sell when the time comes
Posted on 1/29/21 at 9:22 am to Steveohh
it should be pretty damn fast considering you can buy and sell instantly.
Posted on 1/29/21 at 9:24 am to notsince98
A typical transfer happens within a week.
Posted on 1/29/21 at 9:31 am to caill430
Robin Hood got $1 billion in additional financing over night.
This is good news.
I don't think RH loses money---they simply lacked the capital to hand the volume they were sending through the clearing houses after the clearing houses raised their capital requirements on these crazy stocks.
This is good news.
I don't think RH loses money---they simply lacked the capital to hand the volume they were sending through the clearing houses after the clearing houses raised their capital requirements on these crazy stocks.
Posted on 1/29/21 at 9:32 am to caill430
Yes.
Posted on 1/29/21 at 9:37 am to LSUisBetterthanU
Any yes, you can transfer your funds elsewhere.
Posted on 1/29/21 at 9:38 am to LSUisBetterthanU
quote:
All stock and funds are federally insured through third parties.
You sure about that?
Posted on 1/29/21 at 9:40 am to LSUisBetterthanU
quote:
No you will not lose anything. All stock and funds are federally insured through third parties. All Robinhood corporate funds are not commingled with your portfolio funds.
You are insured up to 500k.
If Robinhood goes under, they cannot touch your funds.
I've literally heard the exact opposite about Robinhood.
Posted on 1/29/21 at 9:41 am to TDTOM
Read the article on the link per my post above. It’s very informative
Posted on 1/29/21 at 10:30 am to LSUisBetterthanU
Who should I transfer to? What is everyone else using?
Posted on 1/29/21 at 10:42 am to HighRoller
quote:
Who should I transfer to? What is everyone else using?
quote:
HighRoller
Shouldn’t you be telling us?
I’m in the same boat as you, btw. I asked the exact same question this morning for the exact same reasons. I’m moving to E*Trade but don’t have a real solid reason for advising you to do the same. I have a family member that uses that and is satisfied so I’m going with it.
Posted on 1/29/21 at 10:43 am to supadave3
quote:
I’m moving to E*Trade
Didn't they restrict trading on GME as well? Why use someone like Fidelity or Schwab?
Posted on 1/29/21 at 10:44 am to HighRoller
Vanguard
Posted on 1/29/21 at 11:16 am to caill430
Idk about you but I got the spic insurance on my trading stuff and fdic on my held cash vis thst other bank they're partnered with. I'll take 2 federal payouts please.
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