[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 29 KB, 1024x1024, Robinhood_Logo.png [View same] [iqdb] [saucenao] [google]
12416379 No.12416379 [Reply] [Original]

/biz/ Is this a viable way to start small time investing?

>> No.12416389

>CoinBase

>> No.12416421

>>12416379
These fags have no fees because they use a fractional reserve system and also mine your trading data so their machine learning finds a way to dump on you.

>> No.12416499

if I buy crypto on robinhood can I transfer the coins to my wallet?

>> No.12416504

>>12416379
just remember, nothing in life is for free

>> No.12416514

>>12416379
Yes. Dividends are your fren.

>> No.12416537

>>12416421
so you're saying you can't cash out?

>> No.12416539

>>12416499
You dont own the tokens on RH because you don't buy them traditionallly like in a market. You just buy a "share" of the token which is limited to RH. You are basically just speculating on the tokens price to make a profit. They don't even have a wallet.

>> No.12416543

>>12416539
Exactly. You should only use robinhood to speculate on growth companies.

>> No.12416544

>>12416514
Seconded. I also use Acorns. If you can shill 12 people into setting up acorns this month, you’ll make a grand.
https://acorns.com/invite/PCL6PE << my shill link by the way

>> No.12416549

>>12416379
Why do retards do this shit? Index investors outperform the average equity investor.

>> No.12416557

>>12416549
Shilling people into signing up. Between Robinhood and Acorns, there’s usually an extra thousand dollars to be made per month by referrals.

>> No.12416560

>>12416549
I never sell. I just collect dividend companies like Pokémon. It’s fun.

>> No.12416565

>>12416549
Oh and the options casino

>> No.12416638

>>12416565
Hold on a minute. I'm making something for you.

>> No.12416658

>>12416638
https://www.youtube.com/watch?v=IkdmOVejUlI

>> No.12416670

>>12416638
Well?

>> No.12416676

>>12416670
goddammit this takes time hold on

>> No.12416700
File: 1.19 MB, 1261x5000, IT.png [View same] [iqdb] [saucenao] [google]
12416700

>>12416638
>>12416670
Okay.

>> No.12416809

>>12416560
I have 1 share of like 45 different monthly payers. It's so comfy seeing 6 cents here, 8 cents there...

>> No.12417062

>>12416379
I am banned from purchasing from day trading for 90 days on the app. Kraken rookie here. I did A pattern day trading violation several times until they locked me

>> No.12417088

>>12416809
how much you invested to get 6c per month?

>> No.12417293

>>/smg/

>> No.12418066

>>12417088
One share of PSEC, currently valued at $6.70, will bring in 6 cents on a monthly basis. Until it doesn't. AMZA currently pays 11 cents/month and is less than $6, but no way that shit is sustainable.

>> No.12418492

>>12418066
>PSEC share price 5 years ago $11
>PSEC current share price $6.70

>> No.12418575

>>12417062
How hard is it to follow rules honestly?

>> No.12419649

>>12418492
So a share bought in 2011 would produce enough income to buy another share, which would be a small gain in dollar value and bringing in 12 cents a month.
VTI, VXUS, BND are for long term share price gains. Chasing dividends is just for fun.

>> No.12419669

It's an exit scam in the making

>> No.12419999

Is shorting possible?

>> No.12420028
File: 81 KB, 512x469, IMAGE-44.jpg [View same] [iqdb] [saucenao] [google]
12420028

>>12416700
>completely ignores how hedge fund managers make millions a year
yeah fees lul

>> No.12420029

>>12416379
They have no commisions because they sell your trade data to third parties, who then take the other side of your trade. They do this because they know 90% of traders are absolutely retarded and shouldn't be trading. If you do manage to trade successfully, they'll hedge your trades and still break even. You're better off saving and starting a decent account on a real broker. Other than that, take proper training and stop falling for scams. But hey if you think crypto is still a solid idea, I doubt you have what it takes to be successful in this field long term.

>> No.12420074

>>12420029

Every broker does that moron

>> No.12420130

Yes it's great for short term/swing/med term trades and slowly building up your portfolio. I'm up ~20% in 3 months off my initial $300 making conservative trades only.

>> No.12420151

>>12420029
>they sell your trade data to third parties, who then take the other side of your trade.
This is why you should always use limit orders on rh. Their market buy orders execute at up to 5% above the current price and market sell orders execute at up to 5% below the current price. They freely admit this on their site (https://support.robinhood.com/hc/en-us/articles/360001214843-Why-didn-t-my-market-buy-order-execute-).).

The other way they make money is by secretly investing your cash in short-term bonds. Many other brokerages also do this, but they give you some of the interest that they earn.

If you don't keep much cash in your account and never place market orders then rh is the best broker. Otherwise, you should look elsewhere.

>> No.12420164

>>12420029
>>12420074

Seconded, every broker does that to break even.
Never tried Robinhood

>> No.12420200

>>12416379
Do they not bypass fees by bundling trades and getting High Frequency Traders to execute them on your behalf?
Any source for the fractional reserve thing?

>> No.12420679

>ITT paranoid aspies