Robinhood

Started by Maritza M.
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Kristen S.

I just started my robin hood have seen and fluctuations yet but praying for the best

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Latasha B.

Be careful with Robinhood. They were recently in the news because investors were getting alerts that their accounts were withdrawn and they log in to see all of their money is gone.

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Tony D.

IT is a brokerage account so if you are selling holdings you will need to wait for trades to settle before withdrawing funds so it is not instantaneous like an online checking account but in most situations you can receive the proceeds within a few days.

Deleted user

I had about 1500$?in stocks but the market kept taking hits due to bad global economy so I pulled out maybe when it gets better I’ll try again ?

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Tony D.

Generally if you want to invest you need to ask yourself if you can handle the inevitable downswings that inevitably come in time. To date every such downturn has eventually seen the market recover and subsequently go on to new highs. Occasionally the time frame has been many years, even in the US. If you need the funds in less than 10 years you probably should not be in the market and definitely not if you will need them within 5 years.

Many people think they will be able to anticipate turns in the market or that they'll get out early on the way down and back in early on the way up but in about 95% of cases "timing the market" leads to long term losses.

The proper mindset is to tell yourself you will see your account value go down 10%, 20% 30% and even more but if you can accept these emotional costs and remain in a diversified portfolio you will likely (although nothing is guaranteed) prosper significantly in the long run.

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C. Aiden S.

I have Robinhood as well, but I can rarely justify the initial cost of most stocks, so I have only purchased a few. I've also invested in partial shares of a couple of pricey stocks. Honestly, it just seems like a more volatile alternative to a savings account that earns interest, especially if you tend to restrict yourself to stocks that offer decent dividends.

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Mayra C.

robinhood charges you high fees hidden in the price of the stock, so you do not see that they are sticking it to you. Beware!! also recently in news for being infiltrated by hackers.

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Ming C.

Was in the news, it was fined for misleading its stock market customers about how the company makes its revenue.

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Tony D.

Yes, evidently they failed to inform customers that their stock orders were sold to trade execution firms that may have cost them more in price performance than paying zero commissions compared to other low priced brokers.

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Jnai P.

Interesting commentary. I plan to do some additional research. I have used Robinhood with no issue. I want to learn more about the "behind the scenes". Thanks for sharing your experiences

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Bridget E.

Some good advice, as I am thinking about investing this year.

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Stephen K.

It is important to invest and not put all your eggs in 1 basket. Invest in stocks, mutual funds, 401k, crypto, startups, gold, silver, bonds, cd’s. The more the better in the long range.

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David P.

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