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/biz/ - Business & Finance

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580477 No.580477 [Reply] [Original]

Hey /g/,
some of you may have heard of this new stock brokerage called "Robinhood", which offers $0 commission trading on U.S. securities. Just under a year ago, I joined their waiting list. They recently released their app, and I have been sent an invite. However, not only do I not have an iPhone (required for their app right now), but I'm not a US citizen, so I can't use it right now. However, I don't want to just make waste of it, since apparently anybody who joins now will be put at the end of a 500,000 long wait list.

Anybody want to buy the code from me?

>> No.580478

*fuck, I mean /biz/

>> No.580479

>Hey /g/

>> No.580489

Scam scam scam scam scamly scam scam scam...

SCAM SCAM SCAM SCAM SCAMLY SCAMMMM OOOHOOHOOOO OOOOOOOH.

(to the tune of two and a half men obviously)

>> No.580497

>>580489
Me or Robinhood?

>> No.580899

niggas bump

>> No.580934
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580934

>>580477

> mfw $0 commission

This has to be the ultimate piker platform. If you honestly think that $0 commission will be a good thing for you, then you are the plebbiest of the plebs. Trading is not free, there is undoubtedly some major hooknosing going on behind the scenes to try and push that lie.

>> No.581149

>>580934
"The app could attract a younger, less wealthy demographic to the stock market because people can trade smaller amounts without having their potential earnings eaten up by the fees most brokerages charge. Instead, Robinhood makes money through interest on funds you hold with it or when you trade on margin, plus selling trade volume to stock exchanges."

http://techcrunch.com/2014/12/11/robinhood-free-stock-trading/

>> No.581151

BAMP

>> No.581180

>>580934

Robinhood is trying to get as many customers as possible by offering ridiculous perks then it's going to be bought out by some big trading platform for the customer acquisition

>> No.581186

>>581180
Sounds plausible

>> No.581254

In case anyone is wondering, your trades are delayed, and the trade info you make is sold to those running algos so they can profit from the correction

>> No.581420

>>581180

Its called payment for retail order flow. Robinhood will likely sell order flow to Citadel or other major players or route orders in any way to scrape rebates. Just like all other low-cost brokerages, except with the promise of "free commission" and trendy app bullshit.

The entire premise of the app is getting uninformed retail order flow. This is PRICELESS to other firms and will parasitically leech the system. Interacting with this order flow is very lucrative. It will be a feeding frenzy for HFT which the 20-someodd year founders will sell out to when they see the money to be made. Orders will be bucketed, execution will be dog shit, features and data will be primitive (again, pikers don't know a thing about trading).