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Post Info TOPIC: ROBINHOOD
What do you think of Robinhood [3 vote(s)]

I have used it and I like it
0.0%
It's a garbage company
0.0%
I have had many problems with Robinhood and do not recommend
0.0%
Never used it before
100.0%


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ROBINHOOD


Making this thread because today was the first day that I said to myself, "You know what, I like the name of DOGECOIN and I am going to buy some, if only because I like dogs and if I could make some money because I like dogs that would be even better!"

So I set out to buy some of this DOGECOIN, if only because I forsee a lot of time at home over the next 100 days and I wanted to give the market a try for my very first time, and DOGECOIN seemed like just the ticket.

ENTER ROBINHOOD.

A quick search and all arrows were pointing to this company "Robinhood" and quickly I remembered my son having mentioned it in the past as he was small time trading at the young age of 18 with the help of this application on his iPhone called "Robinhood". Having done a little reading on Reddit about ways to buy Dogecoin I was aware that many people were saying that you couldn't even buy DOGECOIN until the 5th due to certian transfer restrictions put in place by Robinhood to ensure all the money that was being transfered had cleared. I figured since my son was already a member in good standing he might have the ability to buy some however when I asked him about it he said that he recently just transfered his money back to his bank account. He opened his app and was about to transfer $30 into his account when I told him about what I had read and he decided to do a test transfer of just $2 to see if it was going to allow him to buy. Sure enough he transfered $2 into his Robinhood account from his bank account and the $2 showed as avaliable in his Robinhood account instantly, but when he went to spend the entire $2 on Dogecoin the app would not allow him to make the purchase until the 5th when the transfer had "cleared". 

It goes without saying that come the 5th, that Dogecoin will be much higher than it's current price of .029 cents but it just goes to show how rediculous this company Robinhood is, and also how crooked the entire industry is on the whole. This sort of manipulation recently played out with a handful of stocks that were shorted, most notably Game Stop, where regular people were getting together publicly in mass to execute group strategies which ended up bankrupting the Melvin brokerage firm as the stock shaply went up in price causing Melvin to default on it's shorts. If there is one thing the collective internet likes to do together it's fuck shit up. The whole type a few keys here and a wiggle there causing some billionare hedge fund brokerage to get short squeezed and go bankrupt made a lot of people happy, and to be honest it sure was a whole hell of a lot of fun. It brought people together and I like that, even if it is the only positive. But things got worse after Robinhood decided to prevent it's users from buying certian stocks, namely all the ones that were costing these hedge fund companies so much pain.

All that said, I still have not set up a Robinhood account and my son's $2 is trapped in limbo until the 5th. I don't know that I could ever trust Robinhood, or the market for that matter anyway but I WAS willing to give it a try today. Too bad they bungled it all up and now I have all the same reservations as I always did about the market, it's a scam and regadless if you're buying or selling there will always be some glitch or gotcha that will cause you to lose money. 



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Dispite my better judgement I decided to review the Robinhood App and also the desktop version. I been mulling it for awhile now, and while I had originally planned on signing up with E-Trade, I liked the fact Robinhood was zero commission.

I also am told that my kid will get some free stuff since I decided to give it a try at his recommendation, or lack there of anyway. Had him send the link before I registered so we will see how true this promise from Robinhood is since I have noticed they are less than truthful in their advertising. I say that based on the promise that they display at sign up that they will back you for up to $1,000 while you're waiting on your transfers to clear.

doge.png

Although interestingly enough they do require your social security number to join, AND it would seem just to join there is an "Application", as if to suggest they might reject you.

robinhood.png

So based on this it leads me to think that I just possibly signed up for a $1,000 line of credit, rather than setting up what I considered to be a "free" account. If my credit gets whacked for a hard pull I'm gonna be a little pissed.

But I sucked it up, having been part of new technologies like Microsoft, eBay, PayPal and even the earlier Bulletin Board Systems I was going to give them a chance, risky as it may be. And that just happens to be plastered all over the site "Warning you may loose money" LOL!

I only put thru a small dollar amount transfer just to be able to venture further into the company and website, but so far I'm un-impressed, much like I was in the early days of Twitter but not because the site design is poor, but rather because the long delays to get going.

I am also being told that my money transfers will have to go thru a clearinghouse, not the "instant $1,000" backing as flashed upon sign up. Guess you have to read the really small print on that.

One thing I am almost certian of is the fact there will be all kinds of gotcha's and technicalities along the way, in addition to the ones I have noticed above. LOL

I will keep everyone posted.

 



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Got an email this morning about 3AM saying that I had been approved for a Robinhood account and that my small transfer had been initiated from my bank. Went on Robinhood and even though it advertised that my transfers up to $1,000 would be instantly available I still can't buy any DOGE coin. They did give me two free stocks however, CBAY and SPPI, both pharmaceutical stocks and I have never heard of them. Current value between the two is almost $10.

So far the kid says he hasn't gotten his free bird-dog stock, so I might have to email them and ruffle some feathers.

This whole taking 5 days to make a transfer makes me wonder. I wish PayPal offered DOGE coin or I might not have even signed up for Robinhood. Oh well, it's done now so I suppose I'll just wait it out and see. All I know is that I'm positive whenever I need to do something when the market is moving, be it buy or sell, that some other bullshit gotcha to cause me delays will crop up... I just know it. But it's free, supposedly, so I'll keep on trying it out. 

Guess the old saying the 1st one is free also applies to the market... I wanted my first ever stock to be DOGE coin but instead I got some pharmaceutical stocks I never even heard of. 



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A middle-aged loner on a crusade to champion the cause of the innocent, the helpless, the powerless - in a world of criminals who operate above the law.

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Welp, I was able to buy my first DOGECOIN today!

Finally it let me use the money I had transfered, and I even checked my bank account and the money has not been removed yet! So I guess they kept their promise on the $1,000 instant avaliable, even though I only spent about $60 for about 1,500 coins. No fees!

If they drop back down to .001 again I'll just buy another $100 worth and let em' ride. 

I'd like to have about 20-30,000 of them. Don't know why but that sounds like a good number to me. 

Wish me luck!

TO THE MOON! LOL



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Good luck.

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Thanks Shawnee!

After a few days in the market I guess you could say watching the stocks thru the day is at least a little more interesting. Planning on going long with most all investments, but I am only putting a small amount out there as I think a big dip is surely around the corner. That is when I might consider buying up some more stocks or cryptos.

I even picked up a share of Ford Motor Company for $11, if only because I wanted to have more than just two stocks I had never heard of. I also picked up a stock of HSBC because they have never played any games with my credit line. I plan on buying stock in ALL my creditors who have opperated on the level with me over the years. Maybe not anytime soon, but eventually. 

So far, after set-up I have found Robinhood to be chugging along pretty well, with no complaints at the moment. I even purchased a little BitCoin and Ethereum, but I used PayPal to buy these just to try them out and diversify a little. Each buy cost me .50 cents on PayPal so I know that Robinhood is saving me money since I haven't paid a single fee since setting up, in fact they gave me $10 worth of stock for free when I signed up.

So all is well that ends well, so far. 

Feel free to share your stories if you ever give them a try.



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I thought of penny stocks. Probably be fun, at least time consuming with something different.

With these, Bitcoin, Robinhoot, Dodgecoin etc. Say you put $1K in. It turned into $35K. Can you get a check in real money?

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I have never tried to cash out yet but so far the way it works is you put money in your "Robinhood" account and then you can buy Crypto or Stock with them funds. If you sell I'd imagine the money would be put in your Robinhood account where you could transfer it to your bank account, in my case it would be the same one they pulled money out of to invest. I don't know if they have the option to send out a check and I am almost positive you can't just visit a Robinhood location and make a withdrawl in cash like you do a bank. 

But yes, if you had set up a Robinhood account and bought DOGE when it was .001 (tenth of a cent) last year you could have gotten about 30,000 shares for $30! That 30,000 shares would be worth $2,400 today with DOGE worth .08 cents. Currently you would have to pay .08 cents to even buy one DOGE coin, which seems high but only because I bought in at .03 cents myself. My worry is that if it jumps up to $5 or $10 I'll be kicking myself for thinking it was expensive at .08 cents. All I know is the people who bought in at .001 (tenth of a cent) are probably kicking themselves they didn't buy a whole hell of a lot more. But such is how the market works, except with Crypto it's 24/7/365 whereas the market is Monday-Friday 9:30am - 4pm except holidays. So Crypto is always something to watch move regardless if the market is closed. 

There is also a lot of risk, as the Crypto Coin could go back down to .001 and unlike Bitcoin there is not a set amount of Doge coins so it keeps the cost within reach of just about anyone. But who knows.

My son also tells me it's not prononced "Dog-e" like Doggy, it's pronouced Doje like a karate Dojo or Doja Cat (if you ever heard of her). I told him that I like it better my way.

I also forgot to mention that this whole "Robinhood" company is oddly reminiscent of an HBO series called "Silicone Valley" where these geeks set up a computer and phone app that is named "Pied Piper". I am shocked that more people havent made that connection.

 



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Hmmm. Then if I can buy real stocks, I can sell them and get cash? Even at .08, could be worth a few bucks see what happens.

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When you say "cash" I assume you mean bank transfer or EFT because most all brokerages and online companies typically do not accept paper "cash" unless you're dealing with a local business, bank or credit union.

If that assumption is correct then I'd say "Yes" if you bet right and you're lucky you could stand to make some money. 

I didn't put a lot of money in either, more or less something to watch and keep me entertained. 

I too wonder what would happen if a few big companies bought in and the price went way up there, what would happen is a lot of people like me would sell off and in doing so would that cause the system to crash or halt trading like they did with GameStop and AMC? It's a very valid concern, one that I often ponder as well. GameStop was hovering above $500 for a few days, now it's down to $50! I think it's highly unlikely that the people holding thinking that they will recoupe their losses will ever see $500 again, but you never know. It's really no different than gambling although it's more like poker where a little skill can go a long way keeping you in the game for the opportunity to get lucky.



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A middle-aged loner on a crusade to champion the cause of the innocent, the helpless, the powerless - in a world of criminals who operate above the law.

LET'S GO BRANDON!

 



FAR BEYOND DRIVEN

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Yes. Transfer the $$$ electronically is good.

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So I been watching the Robinhood a few times a day, pretty much the same amount as before when I only looked at the markets and crypto on my iPhone stocks app. 

Also been going back and fourth with Robinhood support over the free stock for the kid... only problem is that every time I reply I get this message back

robinhoodmail.png

It's pretty frustrating, and I am pretty sure Robinhood knows their mailbox is full and kicking back the replies. What makes it even sneaker is they will respond back saying that since they haven't heard from you they assume the problem somehow resolved itself and are closing the ticket because they haven't gotten a response! LOL, never mind the fact I DID respond, their email server just kicked it back! 

So as I had suspected the place is a little shady, and so far I don't think the kid got his promised bird-dog stock. I can only imagine how frustrating this would be if I had serious money at stake. It's really quite off-putting to be honest. 

I'll keep everyone posted, but so far I have not sold any stock or coins... only purchases. I don't plan to sell because I don't want to deal with the capital gains taxes assosiated with selling. Like I said, I don't plan to be a day trader. But I sure won't be putting any more money into Robinhood until they get their acts together. I'm not going to tolerate them stiffing this kid out of his bird-dog stock.



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That sux.

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It would seem that Robinhood is having a hard time keeping up with DOGE trades,

rhdoge.png

Tried to make a purchase early this morning when the coin had settled a bit but Robinhood wasn't having it! Also had this problem a little while ago too!

I put up with it because I am not paying a commission, but it is rather frustrating at times.



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0.420 on 4-20!

doge420.jpg



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I exited most all of my stock holdings today, except for three that are down... I'll hold them until I get my money back regardless how long that takes. I have a serious feeling a market correction is inevitable and that most of what is on the market, crypto included, is way overpriced.  I have been studying the graphs going back 10 years and it's clear to me that something is just not right.

So I am keeping my profits from the stock sales in my account so I can be ready to pounce when the correction comes, or anything else I feel could turn a quick buck... I have gone from Diamond hands to paper hands! I no longer have any loyalty to any stock or crypto that isn't going to turn me a quick return, however small it might be. 

With my recent selling of a large portion of my DOGE coin before it took a plunge I have come to realize that holding, or HODL as they call it in meme land, is for suckers and rich fucks who have so much money they have to tuck it away somewhere.

 



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A middle-aged loner on a crusade to champion the cause of the innocent, the helpless, the powerless - in a world of criminals who operate above the law.

LET'S GO BRANDON!

 



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Damn! 

Wished I wouldn't have let go of my AMC stocks at $14.02 because now it's up to $65!!!

I bought a few shares at like $13.99 and got spooked, but them AMCAPES are really sticking it to the hedge fund guys! LOL

It's fun to watch, even if my paper hands missed out on $180!

What a pisser, guess that's just the way she goes on the market.



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A middle-aged loner on a crusade to champion the cause of the innocent, the helpless, the powerless - in a world of criminals who operate above the law.

LET'S GO BRANDON!

 



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Just letting everyone know that you can get in on Robinhoods IPO up until 11:59 Eastern time tonight! 

Opening price is $38 per share and there is no guarantees.

I figured I'd throw down on a few shares because of how well the service has worked for me and without ANY fee's whatsoever. 

So win, lose or draw I'm just trying to give back in appreciation for good customer service, even if it was a little bumpy at the start.

Just when I thought I was out, they pull me back in! LOL



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LET'S GO BRANDON!

 



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Well I lost $6.30 cents already!

But my purchase of a few shares wasn't about flipping, rather I just wanted to be able to say I purchased my first IPO and inked fresh paper.

It could go down quite a bit, but unless I get really jammed up I think I'll hold them regardless since I am using the service for free. Feels like the least I could do to show support. 



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LET'S GO BRANDON!

 



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WOW!

Robinhood really popped off! 

I wish I would have purchased a little more on the opening day when it was slumped at $33 because now it's already cracked $70 and almost cleared $80 at one point!

It's nice that Robinhood gave the small investors and customer first dibs on their IPO, unlike them snobs at JP Morgan and Goldman! 

I have no doubts they are trying to take over Robinhood to run it into the ground, who could go back to paying fees to trade after using Robinhood?



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A middle-aged loner on a crusade to champion the cause of the innocent, the helpless, the powerless - in a world of criminals who operate above the law.

LET'S GO BRANDON!

 

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