After loosing around 4k as a beginner thru etrade I noticed fees were 1600. I took a chance with robinhood and discovered that there software is very basic but by watching stocks thru etrade software and trading thru robinhood I have only lost one trade and no fees. A beginner makes many mistakes and cant afford to pay these high fees. I got the quick survey that people complaint about and was able to trade with no problem. By the way i do all this thru an iphone6s plus and a 9 to 6 job and I love it. I want to thank Tim and the rest of the guys for the knowledge and motivation.
Thank you Tim
Posted Feb 01, 16 3:10 PMbydatashare28
Categories
Basics
I just tried Robinhood and sold my positions this morning... I still don't have access to trade with the proceeds. I don't know if this is typical, but it kind of stinks if you want to dump a loser and switch your funds over to arising stock quickly. Am I missing something?
@rmc0315 PDT rule. 3 days before you can use funds to enter a new position. Robinhood calls this "Unsettled Funds" It is supposed to protect investors from losing everything they have when they have small accounts.
@calamode I have not been able to verify Robinhood trades either. And their execution times have been good so far.
@Rollingball thanks for the heads-up! I've been trading with my USAA Brokerage account because I thought Robinhood was too slow to release my funds. I just got a "Good Faith Violation" warning. Evidently my USAA account has the same waiting period too, I've just been trading with the unsettled funds. I just got warned... All things considered, Robinhood is looking better and better
Join now or log in to leave a comment