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Robinhood

vprvpr Posts: 606 ✭✭✭
in Precious Metals
They're a new stock discount brokerage that offers 0 fee trading of stocks. SIPC insures your account up to $500K, so no risk that they will go belly up and take your money. Only issues I've noticed are that:

1. You can only trade on an iOS device.
2. You can only trade US listed stocks (on top of that, they don't seem to have access to some stocks. I couldn't find ABX).

The biggest benefit is that you can even buy 1 share at a time, since there are no commissions. I've been buying stocks 2-3 times a week and just averaging in.

They're currently in public beta, so you can't just sign up for an account. I got mine a month ago and have 3 invites. So, if you're interested in signing up, send me a PM. First 3 PMs get the invites.
References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.

Comments

  • ZubieZubie Posts: 1,160 ✭✭✭✭
    PM sent!
    Positive BST Transactions with:
    Overdate, BestMR, Weather11AM, TDEC1000, Carew4me, BigMarty58, Coinsarefun, Golfer72, UnknownComic, DMarks, JFoot13, ElKevvo, Truthteller, Duxbutt, TwoSides2aCoin, PerryHall, mhammerman, Papabear, Wingsrule, WTCG, MillerJW, Ciccio, zrlevin, dantheman984, tee135, jdimmick, gsa1fan, jmski52, SUMORADA, guitarwes, bstat1020, pitboss, meltdown, Schmitz7, 30AnvZ28, pragmaticgoat, wondercoin & MkMan123
    image
  • jmski52jmski52 Posts: 22,858 ✭✭✭✭✭
    Wow. How do you know where your money is going, and how can they stay in business with no fees? Do you know who owns this thing? Is it one of the big banks?

    Doesn't this seem like quite a stretch? Just real skeptical here. It seems like a gambling arena set up because other revenue sources are drying up. image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,132 ✭✭✭✭✭
    For $7 a trade I'll stay at Fidelity.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • vprvpr Posts: 606 ✭✭✭
    They are a new startup backed by Google and other big names. They make money off people trading on margin, overnight lending of funds that are unused, etc. Not everything is a scam. : )
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    I'm happy with Scottrade. Like the features and the download capability to H&R Block software.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • chumleychumley Posts: 2,305 ✭✭✭✭
    I,ll stick with TDAMERITRADE
  • bluelobsterbluelobster Posts: 1,220 ✭✭✭
    Probably a good brokerage for people just wanting to put in a little bit at a time, I wouldn't use it for myself, but great for custodial accounts. I like the idea of inexpensive, easy entry for people to save and invest. The Millennials and the like, need options to put money away no matter how small.
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭


    << <i>For $7 a trade I'll stay at Fidelity. >>




    Yeah, who knows where the next Madoff lies.
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Interesting !!! image
    Timbuk3
  • vprvpr Posts: 606 ✭✭✭
    1 more invite left...
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
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