Economy stonks v13, gamestonkegeddon

[Wadtucket]

Anyone know about the security of Binance?

Funds are safu.

 

[G-19]

Even if they don’t go bankrupt why would anyone want to trade through them after what they just did.

That I agree with. Just set up the transfer and move on.

 

[44nutman]

Yeah bruvva I'm trying but they are limiting withdrawals and I can't initiate the next one until the first one clears

At this rate it's gonna take me a year to get my cash out of RH

Cant you just transfer all your stocks to another provider?
Selling them all would be a huge tax hit.

 

[G-19]

It's mostly the cash I'm worried about tbh, I am trying to fund another broker account but it takes ages to clear every transaction

Yea, I definitely feel your pain there. I downloaded RH for my son originally but when I really need to get funds up quick I trade from their platform too.

 

[HOLA]

I just transferred some positions from TD to Interactive Brokers. It was pretty quick - 4 days or so. They're showing my cost basis out of whack though. It's right in some areas but not in others.

 

[44nutman]

Cant you just transfer all your stocks to another provider?
Selling them all would be a huge tax hit.

Never mind @HOLA already answered my question.

 

[reveler]

Same. What is going to happen if they go tits up? I was planning on letting current positions ride and just cycling out of RH to Fidelity as I close them, but now it looks like RH is planning to just shut the thing down and make off like a bandit.

SIPC covers up to $500k as a mix of cash and securities, max $250k of cash. i believe that is per BD, not per account. meaning, if you have 10 accounts with the same BD, the coverage is still $500k, is not $5m.

for retails investors, this should be fine. but, i am sure the claims process and recovery time is arduous.

 

[Wadtucket]

Cant you just transfer all your stocks to another provider?
Selling them all would be a huge tax hit.

Options, the tax hit is already a done deal

 

[Revolver]

I have (had) most of my boomer holdings with boomer brokers, RH was just for yolo that turned out a lil bit better than I thought it could

Boomer brokers ftw. TOS is great btw.

 

[HOLA]

• "Robinhood (RBNHD) faced a lot of flak from users over placing of restrictions on AMC and GameStop securities. The securities have seen heavy trading activity from users of Reddit's r/WallStreetBets this week.
• A data employee at tech firm asked the Blind platform, the largest anonymous professional network: “After this whole thing is over, do you plan on leaving Robinhood.” 76% said they plan to leave Robinhood, while 13% said they already moved to other platforms and only 11% said they won’t be leaving the Robinhood platform.
• On Thursday, Robinhood users filed a class-action lawsuit against the company’s decision to restrict the transactions of individual investors, while allowing hedge funds to trade the stocks freely.
• Other trading platforms like Interactive Brokers, TD Ameritrade, Webull and Charles Schwab also blocked transactions for the same securities, But Robinhood has drawn the most ire, likely due to its popularity among the Reddit day traders who fueled the unprecedented rise of GameStop to begin with."

 

[Wadtucket]

Boomer brokers ftw. TOS is great btw.

I do Schwab and JP Morgan but it makes me feel a dirty little whore doing business with Jamie Dimon tbh

 

[Thepaintbucket]

Lawsuit IMO. They essentially forced people to sell by closing off trades.

I personally lost tens of thousands cause of them and now I'd rather use a shitty interface app like Webull over RH.

People don't just forget when you screw them over money

 

[brackis1]

bahahaha FUSE rumor of taking MoneyLion public!!!!!! 13% after hrs
Called that shit TOOOOOODAY. We shall see if it holds but someone posted a Bloomberg screenshot .

I DO NOT KNOW IF THIS IS REAL, JUST SHARING FROM STOCKTWITS.

 

[dirtypablo]

Wow. Glad I use a real broker.

What do you use?

 

[Proud American]

this thread sucks so much more than the worst parts of all the previous ones combined.

To.........
The.........
MOOOOOOOOOOOON!!!!!!!!

 

[Deleted member 513083]

Funds are safu.

GOAT Youtube channel

 

[Gas121]

Even if they don’t go bankrupt why would anyone want to trade through them after what they just did.

Make no mistake that Robinhood will be looked at as a second rate, poverty broker from here. Lawsuits filed. Any real trader or investor won't be there anymore.

I think they've made a huge mistake here and there going to lose billions.

 

[PaleMoonlight]

I'm done with them

Issue rn is that that they have withdrawal limits and I don't know if I can get all my money out of there before Robinhood goes bankrupt/gets shut down

Shit's making me a lil nervous ngl

Make sure you screenshot your account just in case they mess with it.

Maybe try Vanguard - been using them for 8 years and they’re really professional. Even with the craziness today, I was able to talk to a rep in about 20 minutes.

 

[Hadron90]

SIPC covers up to $500k as a mix of cash and securities, max $250k of cash. i believe that is per BD, not per account. meaning, if you have 10 accounts with the same BD, the coverage is still $500k, is not $5m.

for retails investors, this should be fine. but, i am sure the claims process and recovery time is arduous.

$500k worth of securities? Next week that will be like 2 GME shares.

 

[PolishHeadlock2]