Burgerwars Posted February 6, 2018 (edited) A couple weeks ago I opened a Robinhood brokerage account for the heck of it. Free stock trades with everything done through their smartphone app. Â I'm building a miniature portfolio of low priced stocks, and I'm talking tiny. I started with $25 in my account. They gave me one share of Sprint just for opening the account (worth $5). I've bought one share of RBS ($8), one share of Ford ($10 - my "major" holding) and one share of Intelsat ($2). Today I bought one share of Avon ($2). They must have felt so sorry for how poor I am that they gave me two shares for the price of one. Â I'm unsure what cheap stock I'll by tomorrow. Â Just call me the "Wall Street Tycoon." Edited February 6, 2018 by Burgerwars Quote Share this post Link to post Share on other sites
cv91915 Posted February 6, 2018 Smart money is on Lending Club! Quote Share this post Link to post Share on other sites
Quit Screwing Me Posted February 7, 2018 I have a Robinhood account as well. I love it. Quote Share this post Link to post Share on other sites
Burgerwars Posted February 7, 2018 For today, I bought two shares of Sirius XM ($6 each). I think they pay a one cent diivdend, so now I have a steady income stream. My miniature portfolio is growing. I must be up there with some of the world's biggest stock market tycoons. Quote Share this post Link to post Share on other sites
Burgerwars Posted February 9, 2018 (edited) I've been busy "stock trading like an 8 year old." Â The amounts/transactions in the account have been equivalent to what an eight year old may get as an allowance, with maybe some birthday money added. The value of the account at this moment is about $93. $25 in cash, and the rest spread among eight low-priced stocks (one or two shares each). My largest holding is Mattel, because of course I'm "8 years old." That one share put me back $16. Edited February 9, 2018 by Burgerwars Quote Share this post Link to post Share on other sites
tiggerlgh Posted February 9, 2018 I have been using Robinhood for over a year with no issues. I started small as well. Quote Share this post Link to post Share on other sites
thesaintly Posted February 14, 2018 I can't wait for them to finish their Robinhood for Web Browser platform. There's only so much staring one wants to do at a smartphone when you have a big 4k monitor. Also, they plan to add crypto trading for those interested. 2018 looks to be an interesting year for the company. I have a Schwab account I'm not using very much any longer due to Robinhood being free for trades. Should hopefully apply further pressure on other brokerages to lower prices, and draw in more first-time investors. I see that as a good thing. Quote Share this post Link to post Share on other sites
Burgerwars Posted February 14, 2018 (edited) I too, am waiting for their web app. That shouldn't be hard to do. With crypto, reports are that one won't be able to spend or transfer it in or out. Their service will only be for trading, although that can always change. Robinhood charges $75 to transfer out securities, that's obviously to discourage that. Â The micro trading I do on Robinhood I wouldn't do in my Schwab account. I do have a large Schwab account, that are mainly long term investments. Commissions there are $4.95 for stock trades. I would be surprised if they lower that, although they have in the past. They probably don't look at Robinhood as their competition. Their average customer wants more services and products than Robinhood. Giving away their service isn't part of their business model. Edited February 14, 2018 by Burgerwars Quote Share this post Link to post Share on other sites
Burgerwars Posted March 21, 2018 Robinhood finally has a website to manage your account (not just by a smartphone app). I was able to log in today. Quote Share this post Link to post Share on other sites
IndyPoolPlayer Posted March 21, 2018 so with Robinhood can you trade penny stocks off the pink sheets or strictly exchange listed? Quote Share this post Link to post Share on other sites
Burgerwars Posted March 22, 2018 (edited) You won't be able to trade OTC/pink sheet stocks with Robinhood. You can't buy mutual funds or open an IRA either, but can trade ETFs. It's not a full replacement for a regular brokerage account. Â They did just introduce the ability to log into their website to manage your account. I just logged in. Before it was all through their smartphone app. Edited March 22, 2018 by Burgerwars Quote Share this post Link to post Share on other sites
Burgerwars Posted March 22, 2018 I reviewed their new website a bit more. One thing you can't do on it is submit a crypto (bitcoin/ethereum) buy or sell. You still must do that from their smartphone app. Everything else it looks like can be done. It's slick-looking, similar to the app. Quote Share this post Link to post Share on other sites
Burgerwars Posted March 22, 2018 I also noticed you can't look-up/trade OTC ADRs on Robinhood. For example ANZ or Air New Zealand. Keep another brokerage account for that. Quote Share this post Link to post Share on other sites
Burgerwars Posted July 12, 2018 One more thing: Robinhood just added the ability to buy/sell Bitcoin Cash and Litecoin. That is all. Quote Share this post Link to post Share on other sites
hegemony Posted July 22 Robinhood Plans Relaunch of High Yield Cash Account Quote Share this post Link to post Share on other sites
Burgerwars Posted July 24 (edited) They didn't do their homework when they learned the SIPC doesn't insure savings and checking accounts. The FDIC does.  On a related note, Betterment, which offers robo-adviser accounts investing in a basket of ETFs, also plans to offer later this year a cash management feature with a debit card. Most of the main brokerage companies, like Fidelity, Schwab, Etrade, Merrill Edge and TD Ameritrade, already do. Edited July 24 by Burgerwars 1 hegemony reacted to this Quote Share this post Link to post Share on other sites
hegemony Posted July 25 On 7/23/2019 at 5:56 PM, Burgerwars said: They didn't do their homework when they learned the SIPC doesn't insure savings and checking accounts. The FDIC does.  On a related note, Betterment, which offers robo-adviser accounts investing in a basket of ETFs, also plans to offer later this year a cash management feature with a debit card. Most of the main brokerage companies, like Fidelity, Schwab, Etrade, Merrill Edge and TD Ameritrade, already do. Robinhood stored passwords in plaintext, so change yours now Quote Share this post Link to post Share on other sites
Burgerwars Posted July 25 1 hour ago, hegemony said: Robinhood stored passwords in plaintext, so change yours now Thanks. I got an email about another Robinhood breach a few days ago, but just changed the password again, just in case.  A couple weeks ago I got a piece of suspicious email from someone who wanted to extort some money from me by sending it to a bitcoin address. They said they had a password of mine, and will protect me if I send them bitcoin. Actually, they included the password right in the email. I immediately recognized it as an old LinkedIn password. I changed that a while ago after LinkedIn said probably all their passwords was stolen. I don't use LinkedIn for much of anything, so it being fraudulently logged into wouldn't be much of an issue. Anyway, I didn't send the guy bitcoin. Quote Share this post Link to post Share on other sites
aroberson Posted September 9 I use robinhood, and got into options trading on their, you can make some decent money if you are smart. Quote Share this post Link to post Share on other sites
MarvBear Posted September 9 9 minutes ago, aroberson said: I use robinhood, and got into options trading on their, you can make some decent money if you are smart. Glad you were successful on there.  Just don't troll us for that site. Our members are too smart.  Welcome to CreditBoards. 1 Burgerwars reacted to this Quote Share this post Link to post Share on other sites
aroberson Posted September 9 7 minutes ago, MarvBear said: Glad you were successful on there.  Just don't troll us for that site. Our members are too smart.  Welcome to CreditBoards. lol I will not, I am actually interested on working to pay my debt down and get some scores in the 800s Quote Share this post Link to post Share on other sites
hegemony Posted October 8 Robinhood makes second attempt at launching a high-yield account similar to banks Quote Share this post Link to post Share on other sites
cv91915 Posted October 8 Brilliant move offering savings accounts with yields you can get elsewhere to people who have no money. 2 1 MarvBear, Burgerwars and hegemony reacted to this Quote Share this post Link to post Share on other sites
Burgerwars Posted October 9 13 hours ago, hegemony said: Robinhood makes second attempt at launching a high-yield account similar to banks I joined the waiting list. I'm something like number 214,000, but I can wait. 2% interest on the $75 of free cash I keep in my account will change my life. 😕 Actually, with some ETFs in my account, along with some tiny stock positions, my account is a few thousand $. With zero commissions now becoming standard, there's nothing special about Robinhood. Maybe I'll eventually transfer the account's ETFs to my regular brokerage account, but no rush. Quote Share this post Link to post Share on other sites
hegemony Posted November 5 HAHAHAHAHAHAHA  Robinhood Traders Discovered a Glitch That Gave Them ‘Infinite Leverage’ Quote Share this post Link to post Share on other sites