Honestly, this doesn't surprise me at all. The interface in Robinhood makes me think it can only be useful for people that have 0 idea what they are doing. Case in point: their graphs (at least on Android) have no labled Y axis! Seriously, WTF.
> their graphs (at least on Android) have no labled Y axis!
It's the same on iOS.
I can't say I'm happy with Robinhood. It's dumbing down something that can get you into a world of financial pain if you don't know what you're doing.
If they want to target people that don't understand what they are playing with, they shouldn't be giving away options/crypto access/margin buying to people that don't understand those concepts. Expect a lot of people to lose a lot of money. /r/stupidfinance has some pretty great posts in which people were left in the cold after playing with fire in RH.
I know very little about stock trading. I shouldn't get in a world of financial pain if I don't trade on margin (Robinhood Gold Buying Power) and only transfer money I can afford to lose right?
That is treating Robinhood like a casino. I recognize I don't know what I'm doing at the casino. Therefore I don't use a credit card to buy casino chips and I have a hard stop-loss of a couple hundred bucks that's budgeted as entertainment money.
Seriously maddening : ( How hard was it to put the ticks on the axis? So that at least I can gauge how big the changes are? Those graphs are comically useless...
