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Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: space-time
Date: December 23, 2014 07:31AM
is anyone familiar with them?

[www.robinhood.com]



Edited 3 time(s). Last edit at 12/23/2014 07:17PM by space-time.
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: Steve G.
Date: December 23, 2014 07:43AM

Hey, look who's on their Board of Directors!
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: rjmacs
Date: December 23, 2014 08:40AM
Any stock trading company that implies that it steals from the rich and gives to the poor should make you laugh, or at least snort derisively.



rj
AKA
Vreemac, Moth of the Future
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: OWC Larry
Date: December 23, 2014 12:06PM
their page isn't loading for me... or super slow and just still loading after a minute...
and hey - ?ref=Up5CWL someone getting their own commission on that referral?

Either way - if they aren't charging for the trades, are they making it on the spreads? A brokerage using RobinHood... lol. have to wonder the method they rob blind under the guise.

Page finally loaded... they have a how we make money page
[robinhoodapp.zendesk.com]-

Doesn't really explain much imho.



OWC Larry
Other World Computing
[www.macsales.com]



Edited 1 time(s). Last edit at 12/23/2014 12:10PM by OWC Larry.
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: richorlin
Date: December 23, 2014 12:20PM
So, basically they make money off of the people who keep cash balances in their account.
If you keep a low cash balance, you aren't paying much to them. Transfer money in only when you want to make a new trade. Not a problem, since you shouldn't be making impulsive trades anyway.



richorlin

[DrawingMyLife.com]

[www.dudeism.com]



Edited 1 time(s). Last edit at 12/23/2014 12:20PM by richorlin.
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: GGD
Date: December 23, 2014 12:22PM
Quote
OWC Larry
Either way - if they aren't charging for the trades, are they making it on the spreads? A brokerage using RobinHood... lol. have to wonder the method they rob blind under the guise.

Their stated method is by earning interest on your cash. But they're pleased to tell you that they won't charge you interest to keep your cash with them.

Quote

Robinhood does not charge interest on positive balances in cash accounts.
For customers who choose to upgrade to a margin account, Robinhood will collect interest from margin lending.

In addition, Robinhood will earn a portion of the interest generated by uninvested customer cash deposits. The total interest earned is variable and based on the Federal Funds rate.

Robinhood is well-funded by notable investors such as Index Ventures, Ribbit Capital, Google Ventures, Andreessen Horowitz, Social Leverage, and many others, which affords us the freedom to focus on building a wonderful brokerage experience rather than short-term profits.

[robinhoodapp.zendesk.com]-

And here's their Fee Schedule.

[brokerage-static.s3.amazonaws.com]

At the very end in a very light font it says "Commissions rates and fees subject to change."

Personally my trading is so infrequent and the gains made on trades are significant enough that the $7.95 or $8.95 I currently pay is in the noise and wouldn't seek a brokerage based on commission price when they're below $10. The location of their brick and mortar office is far more important to me.
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: richorlin
Date: December 23, 2014 02:04PM
Can you spell "fly-by-night".

I would rather go with and established brokerage house, like Schwab, or even E-Trade. These guys, they get the money and then the phone is disconnected.



richorlin

[DrawingMyLife.com]

[www.dudeism.com]
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: space-time
Date: December 23, 2014 03:38PM
and hey - ?ref=Up5CWL someone getting their own commission on that referral?

that would be me... I tried to see if I can sign up, (no, I wasn't going to send cash until further research) and I learned they have a "waiting list". Apparently that can be shortened by inviting friends with this URL. So I won't be getting anything, just maybe skip 1-2 places forward in the 300k waiting line, LOL.

I am currently with FolioInvesting and I am very happy with them. been there for 12 years! Vanguard also rocks for 401k, and fidelity for 529. I was just curious if anyone heard of these guys. I found them last night when we were watching Robin Hood with the kids and wanted to show them a few more things online about Robin Hood.
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: RAMd®d
Date: December 23, 2014 06:55PM
hey - ?ref=Up5CWL someone getting their own commission on that referral?

that would be me...

I don't know about anyone else, but that seems a little sleazy to me, s-t.




When a good man is hurt,
all who would be called good
must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men
except by believing all possible evil
of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

-An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

Mister, that's a ten-gallon hat on a twenty-gallon head.

I *love* Sigs. It's Glocks I hate.
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: space-time
Date: December 23, 2014 07:17PM
Quote
RAMd®d
hey - ?ref=Up5CWL someone getting their own commission on that referral?

that would be me...

I don't know about anyone else, but that seems a little sleazy to me, s-t.

fine, you don't have to click. as I said, I don't gain anything except perhaps jumping a few steps ahead, if someone were to actually sing up (I don't think that just clicking the link does anything). Anyway, I will go back and remove the damn link.
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Re: Zero commission stock trading. Stop paying up to $10 for every trade
Posted by: space-time
Date: December 23, 2014 07:21PM
what do you folks think about their App?

[itunes.apple.com]

oldest review I can find is Dec 11, 2014. That means they didn't launch long time ago.
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