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Robinhood, Wealthfront, WeBull, etc.

Well it appears after much deliberation I have developed cold feet. I'm just going to continue plugging what I can into the brokerage account I already have.
 
Robinhood disrupted the industry by introducing zero commission trades, and more recently an interest bearing brokerage account (currently 1.3%). Within the last few months all the major brokerages now offer $0 trades. I was going to open a Robinhood account when they announced they would pay 3% on cash in your brokerage account, but they couldn’t make it happen.

I haven’t personally used Robinhood’s platform but fwiw, most experienced traders use Thinkorswim. And for good reason. It’s an amazing platform. It was sold to TD Ameritrade some time ago. The guy that created ToS now runs his own brokerage- TastyTrade and they have a really good platform too.
 
After the bad week Robinhood has had, I'm kinda glad I shyed away from jumping into a digital platform.

Robinhood attracted a lot of millennials with the free trades. This is both good and bad as making it easy and free to trade stocks is a recipe for disaster for young and inexperienced traders.

I can’t think of a reason to use Robinhood now that all major brokerages offer free trades. If all you’re doing is trading stocks, almost any brokerage will do. You should be using many different tools for research, not just the platform you trade, so executing the order isn’t a big deal.

If you get into Options, that’s when the platform really matters. I’ve used a few over the years and nothing can touch Thinkorswim for Options.
 
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