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Robinhood Trade $0 Commission Stock Brokerage
#1
I cam across this startup company a not too long ago. They currently accepting members for their Beta trials, but hope to open it up publicly soon.

You can learn more and sign-up for access here:
https://www.robinhood.com/?ref=TYpVfx




Here's a recent article Forbes wrote about them:

http://www.forbes.com/sites/halahtouryal...ttle-cash/


Seems really interesting!
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#2
Has anyone received access to Robinhood Trade yet?


(06-09-2014, 08:26 AM)DRILLINDK Wrote: I cam across this startup company a not too long ago. They currently accepting members for their Beta trials, but hope to open it up publicly soon.

You can learn more and sign-up for access here:
https://www.robinhood.com/?ref=TYpVfx




Here's a recent article Forbes wrote about them:

http://www.forbes.com/sites/halahtouryal...ttle-cash/


Seems really interesting!
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#3
(07-21-2014, 03:31 PM)DRILLINDK Wrote: Has anyone received access to Robinhood Trade yet?


(06-09-2014, 08:26 AM)DRILLINDK Wrote: I cam across this startup company a not too long ago. They currently accepting members for their Beta trials, but hope to open it up publicly soon.

You can learn more and sign-up for access here:
https://www.robinhood.com/?ref=TYpVfx




Here's a recent article Forbes wrote about them:

http://www.forbes.com/sites/halahtouryal...ttle-cash/


Seems really interesting!

Not yet, I am 26337 on the waiting list. Hopefully they roll it out soon.
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#4
I'm number 334,000. Heh I guess it's okay then that I'm not looking to initiate new positions yet. Tongue
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#5
I wonder if they'll allow the use of credit card purchases like Loyal3 does (small orders) so I can earn points when I buy. I didn't see anything about it though.
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#6
Here's another article I read today about Robinhood. I just received an email notification stating I should receive an invite within the next 24 hours!!!

UPDATE: They are currently only offering the platform on iOs 7&8. I'm an Android guy, and they are saying they're hoping to release it by mid-2015.

http://techcrunch.com/2014/12/11/robinho.../?ncid=rss
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#7
I'm still skeptical. They say it's about the low costs but seriously now: they are basically targeting young and not-so-wealthy investors, they themselves say that the $500 minimum is too much. So how many people, with a couple hundred dollars to invest, will pay for their premium services? None. How many of those same people will use their 5% leverage? What will they use as collateral to the leverage? Their portfolio right? So if that is worth $500 and they give 50% leverage on that then it's $250 borrowed... at 5% that will bring their profit to $12.5 per year. So after tax that will be less than a dollar / month earned from a small investor leveraging their portfolio with their ridiculously expensive 5% rate.

I still don't see how they are planning on creating a sustainable, profitable company. The leverage idea is of course good and will bring in SOME profit but not nearly enough to have a meaningful effect. Then it's all up to the premium membership...

AHH and of course I should have checked their fees first. Hmm lets see... $35 for trades to Europe and Canada, $15 to modify/cancel a trade outside of the US market, if you are not using ACH then fund transfers will be $25 for USA and $50 for foreign customers. And a few other things. So yeah, for anyone outside of the USA or looking to invest to markets outside of the USA this is quickly looking to become the most expensive broker around.
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#8
Got my invitation today. Thinking I'm going to start an account. The thing I don't like is that they don't automatically reinvest dividends. I don't plan to use it as my main brokerage (yet), so I'm only going to have a couple hundred dollars in there. Anyone else using it?
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#9
Keep us posted with your experience.
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#10
I got an invitation as well but when I tried to use it they told me I need to live in the US... bummer...
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