I'm amazed anyone is sticking on that platform now that td / etrade / schwab went to free trades. There's no reason left, other than you want dumbed down tools / don't know better.
Maybe its just me, but these "dumbed down tools" are working fine over here. What fantastical brokerage experience are you guys expecting here that Robinhood doesn't support?
Are some of you actually concerned that your money is going to disappear overnight because it's in RH? I can assure you this is not a thing, unless you legitimately made very poor investment decisions with said money. Also, if this is the case, any of the above platforms will provide a virtually identical journey into poverty.
1. No dividend reinvestment tools so you’ll have cash drag unless you hand hold it
2. Inferior research tools
3. Fewer investment options (just stocks / etfs, no bonds or mutual funds)
4. Lacking support (ideally you don’t need this but having fantastic support can be nice over the long haul and most established firms have excellent support)
5. It’s only brokerage whereas pretty much anywhere else is going to allow you to consolidate retirement accounts
6. Tax reporting is a lot better in established firms but I might be dated here, looks like they built out some syncing tools in last year or so
I’m sure robinhood is fine & I wouldn’t be worried about losing money, and if it works for you great. But you can get a lot more from a bigger brokerage and I don’t know what they’re going to be able to do to differentiate now that free trades are mainstream.
