They are still struggling with the regulation, which applies to all brokers, but concerns about deposit availability are specific to brokerage. I have been using Robinhood for almost three months. I was also attracted by the zero commission structure they have. At first I felt like it was a pain to have to wait 3 days before the money could settle for it, but then I saw it in a positive light. It forces you not to do everything, but to spread your capital over a week of trade. Since then, however, I`ve updated my Robinhood account to Robinhood Instant. This allows you to instantly access your trading capital without having to wait the 3 days for the funds to be happy. They`re still limited by the PDT rule, but overall, I think Robinhood is a good tool for those with small accounts. One of the worst factors since I used Robinhood is probably the technical problem.
Twice I was in a business where I couldn`t go out because the app was having technical difficulties. Very dangerous for trade in the short term! Overall, I think Robinhood could be really great for swing trading and maybe be good for a bit of part-time day trading, but on the other hand, they didn`t use an app for daytrader. Personally, I love Robinhood. I`ve always dreamed of becoming a Daytrader, and with this app, I can. No trading fees apart from the ~.02 they charge per trade, it`s crazy. I`ve been trading with HR since November and I`m only making a $50 deposit, and of course I add more if I could. I have invested $1000 of my own money and I am currently 20% + on my trades. I have my own business method, like everyone else. I`m not going to reveal how I act because I think everyone should find their own.
But I`ll say this: take full advantage of limit purchases and stop/limit. Damn it, just a FB stock from the post office at $75. I know you wish you had bought more, lol. But frankly, this is the most important thing for us who can`t afford to broker and want to learn how to invest. Rating 5 stars in my name. It even offers free shares if you set up a link like this. Nothing to lose, but everything to gain! No fees. The first of its kind. share.robinhood.com/caseys175 If you have a Robinhood Instant or Robinhood Gold account, you have instant access to funds from bank deposits and the proceeds of stock market transactions. This means that if you sell a stock today, you can use the funds immediately, instead of waiting for the typical two trading days to gain access to those funds. For Robinhood Crypto, funds from stock sales, ETFs and options will be available for purchase within 3 business days.
However, limited cash deposits and all revenue from crypto-sales are immediately available for instant accounts. For more information, see Crypto Buying Power on our Cryptocurrency Investing page. . . .