RobinHood - $0 Dollar Commissions Broker

[Swimmingly]

Are you still using Robinhood for trading? Just got a flyer in the mail saying "Get Free Stock" when you sign up.

[Ultimate Warrior]

I just learned about RobinHood today from a representative at Fidelity. It looks really good. I have opened an account and am awaiting the two small deposits into my bank account to confirm my info and get started.

[rawiron1]

I am using it and it kicks butt compared to Scottrade. I am only going to use Scott for some OTC trades.

Robinhood

[mjbaker84]

it has been 6 months since the last post here. Do you guys have any insight into robinhood now?
is anybody using it currently?
the waiting list is 300k long

[AAAtrades]

The fact that they are focusing on the mobile space initially is very smart. Mobile is the future and should allow for organic massive growth.

Look out etrade !!!

[AAAtrades]

Bank of America/Merril Lynch offer free trades but they require a huge initial balance to get that.

Other brokers tried zero commissions before but they were not efficient enough and were run by finance guys, not engineers.

[AAAtrades]

A round trip trade is about 16 to 20 dollars at etrade. There is no way to start trading with 100 dollars and still be profitable in such a scenario.

If you think it is impossible to trade 100 into a much larger amount, think again. It all depends on the system in place.

[AAAtrades]

Yes I think this is going to be a huge disruptor entrant into the brokerage space.Robinhood will be very successful and maybe even cause the other brokers to suffer some serious damage.

I can see them getting a few million total accounts to sign up eventually.

I do not care if you are trading a 100K account or a 1K account, the fact is that if you can save 1000 to 10K a year in brokerage commissions, why not go for it ?

The arguments people make that they will somehow sell their order flow to other market makers and give you a bad execution price needs to be examined carefully. However, I think for small accounts just starting out the slightly worse execution price is a NON issue in my opinion.

robinhood allows anyone with even only 10 dollars to start, to try to grow it into much larger amounts through trading.