Robin Hood is dangerous for the young millennial. Short term trading is really risky and if you have some cash saved up it can make a big difference in the longer term if you don't blow it up or lose it. Being young matters.
If you're in Australia and looking for something longer term access to Berkshire Hathaway shares or ETFs https://getfirststep.com is another service too [no individual shares] its more like wealthfront/betterment/acorns.
They fractionalise the investment so you don't need huge amounts which is quite nice.
Not saying you don't have a point, but there are a lot of ways to lose your ass in this world and I don't see Robinhood as a particularly egregious case that requires any more warning than Fidelity (which will jam fees).
Unless you have a gambling addiction, it is hard to get into trouble with a cash account. Margin accounts are another issue, but in the States, "pattern day trading" requires $25k minimum balance to execute more than 4 trades in 5 biz days. That is a pretty effective filter.
Just to be clear, unless you're in the margin account beta, "free-riding" is impossible in Robinhood, so users will never be breaking any day trading rules.
>Day trades can occur in a cash account (only) to the extent the trades do not violate the free-riding prohibition of Federal Reserve Board's Regulation T. In general, failing to pay for a security before you sell the security in a cash account violates the free-riding prohibition. If you free-ride, your broker is required to place a 90-day freeze on the account.
This is exactly what I do personally, and RobinHood allows me to buy gradually in small increments to minimize fluctuation in my cash emergency fund. If I were to buy $100 in ETF shares at a traditional brokerage I'd start down something like 10% on fees alone.
looking at your post history, I see your previous post also mentioned the same company. If you are affiliated with them, please add a disclaimer at the bottom.
Not saying it's wrong, my apologies if my comment came across that way!
Usually, if you have a short post history, and link to a product more than once, it raises alarm. Usually better to put a disclaimer either way: I am not affiliated w this company, just a huge fan of their product.
Is there a particular reason most US investing startups require an SSN? A lot of foreign ones seem to only need the address/id (it's usually okay if the investor is foreign).
If you're in Australia and want to try investing in a similar way check out http://getfirststep.com.
I wish Lambda would allow listening to a socket [it helps binaries communicate with node]. This would move our team to use this without any further doubt.
The Common Agricultural Policy has its upsides too. It's nice to know a lot of the produce is based of a certain baseline. Particularly when it comes to pesticides and GMO & allowing this to work in market through the use CAP
In Spain we definitely have mosquitos, and most Augusts we have these summery storms, sometimes bringing also hailstorms (sizze varies though between drop sized ice and golfball sized ice)
Cold isn't required for hailstorms. The ice forms at altitude. We have a lot of hailstorms in the spring and summer in Colorado, and while it isn't the mosquitoiest place I've ever lived, there are mosquitoes.
Yeah. Mosquitoes are densest in the tropics where hailstorms are rare, but just about everywhere on earth short of Antarctica has some mosquitoes. I'd think mosquitoes would meet hailstones occasionally, though I can't really see the mosquito surviving it.
I just returned from a vacation in Wyoming where we were hit by a number of hailstorms, not to mention more common thunderstorms (it was a VERY wet and cold May). Still had to deal with mosquitos (but not nearly as bad as in mid-late summer).
It is natural for issues for happen like this time to time. If it's not technology, something else. Australia's visa offices (DIBP) are on industrial action at the moment.
On a technical level, it's possible, on a practical level it's not. You can't get 100% uptime due to the unforeseen problems that will hit once in a while.
If the downtime was anticipated it can always be averted. Even a Fortune 500 can expect some downtime over a period large enough.
Take Sony earlier this year. The US government itself the year before.
If you're in Australia and looking for something longer term access to Berkshire Hathaway shares or ETFs https://getfirststep.com is another service too [no individual shares] its more like wealthfront/betterment/acorns.
They fractionalise the investment so you don't need huge amounts which is quite nice.