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Titled “A Note From Robinhood”
For Robinhood to operate, we must meet clearinghouse deposit requirements to support customer trades.
Deposit requirements are determined in part by how much stock a firm’s customers hold. If a firm’s customers’ holdings are volatile, a broker (in this instance Robinhood) is obligated to meet higher deposit requirements.
Last week, in part due to volatility in some popular stocks, Robinhood’s deposit requirements rose tenfold. The combination of the deposit increase and the extraordinary increase in volume on these particular symbols led us to put temporary buying restrictions in place on a small number of those stocks.
We had to take steps to limit buying in those volatile stocks to ensure we could comfortably meet our deposit obligations. We didn’t want to stop people from buying stocks and we certainly weren’t trying to help hedge funds.
Now, the confidence I have in using the platform comes from the FDIC insurance up to 250k
This is my opinion.
The idea of leaving the platform as a matter of principle is off-base
1st, several platforms did the same thing and will do it again in the future.
The reality is, there’s WAY more people trading now and a lot more money in the system.
It’s really easy to trade on margin (borrow money from a broker), that’s the real issue.
Robinhood was the bridge millions of people needed to feel comfortable trading and investing.
They, along with a few other smaller companies forced the adoption of many retail friendly tools
One of which was no commission trades.
Feeling betrayed by someone that brought you along can be hard, and emotional.
Whatever your decision, I suppose I just wanted you to know that it is still very safe to trade and invest on Robinhood because your money is insured up to 250k. Slowdowns on heavy volume in the first 15mins are a blessing in disguise for many newbie traders because morning movements have destroyed more accounts than any other time during market hours
