You're unironically retarded if you're still using Robinhood

Not being glued to a chart all day

I like the look. Robinhood is my "trading" money. I use Fidelity for my investing. I've also been doing this long enough to not freak out when I see red on an options play. My day job is in IT, I work from home, and I only have to go on site for major issues. Covid actually gave me time to stare at a screen and I have actually been able to time plays better with RH than I would if I would with Fidelity.

Access to penny stocks

I'm good on that. Penny stocks are shit and I started off in penny's and got my ass handed to me more often than when I first started playing with options.

Actual customer support

I've honestly never had to contact support on any broker ever. But I do agree this is a big weakness for RH and they really need a phone based customer support system in place and fully operational before they go public.

Instant transfers

I've very rarely needed a reason to put money in my account instantly. My funds are already in there, if I need instant funds I'll sell something off, or there's some tricks you can use where you add the RH debit card as a source on another service and do instant transfers to the card which make the funds instantly available on your account.

Huge assets under management

This has literally been an issue once. On a meme stock that I was getting out of anyways. If anything this is an argument for large brokers to offer RH type apps and interfaces because to have a thing that happened before, you're going to need the same large influx of new users. They're going to use whatever is easiest. How many posts were there of people using Cash app to buy stocks? Way too many.

Cool desktop/web apps

I agree with this. RH is mobile first and web a very very distant second. Personally I use atom for the "cool desktop" experience and just have both RH and Fidelity added in my portfolio section.

TL;DR I really don't have a problem with Robinhood. But I do have more than one broker and I use them for different things. To simply put, I use Robinhood for trading and I use Fidelity for investing. Robinhood does what I need it to do pretty much perfectly. I was also in some long plays when they totally shit the bed a year or two ago and people couldn't make trades for what seemed like almost entire days at a time. So for right now, I'm going to be staying with my dual broker approach.

/r/wallstreetbets Thread