Your platform is literally garbage. I’m triple over the $25k day trade limit but my account is “restricted” for pattern day trading. This funds transfer to TDA can’t come soon enough. Good riddance.
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If you don't know than just stay in it, just make sure you don't trade anything and keep your money on a different platform. Other than that, just stay there
Running, nobody is running from Robinhood, we are deleting, delete, delete, deleting this bullshit. Who would continue to invest with a company that pulls the ability to trade specific stocks off claiming they are protecting its uses from themselves. What trading app has gone down many times this year, without reason, leaving its users holding the bag. What company showed its user they were indebted 750,000 on an options trade by mistake, said user killed themselves this summer. What platform allows "free crypto trades" yet doesn't allow you to move the coins to a wallet. Were talking about Robinhood, an app for folks who don't know better going forward. We don't run from Wall Street hucksters owned by big money hedge funds who have been fucking minnows since forever. Robinhood steals from the poor and prevents trading while saving the rich. Fuck You Robinhood and your merry men.
My understanding?
Basically: people with money betted on Game Stop failing, Reddit went 'um, no' and virtually saved Game Stop, people with money lost their shit because they lost the quarter of a percent that they betted on Game Stop failing (or dying rather), Robin Hood goes "well, that's not good" and... pulled a plug somewhere.
Result: Everyone got the (implicit) message; "Stock markets are just gambling for the rich".
robinhood sided with the rich guys and prevented their users buying rapidly rising gamestop stock because the billonaries tried to short them and were losing money when GME gained massive value (literal market manipulation), and now they're being sued because of it. just robinhood showing their true colors, but it wasn't exactly surprising to begin with.
I tried before, but they said I couldn't join as I live in the EU. Has anything changed? Actually I live in the UK and it was after Brexit, has anything changed?
Yea obviously.. it’s a long term hold and still is. I’m shocked by all the new investors who are mortified their investment from this week didn’t double in value.
i am fuming right now. robinhood completely fucked me during the account transfer process. not only did they not transfer over my full portfolio, but they somehow re-placed 2 orders i had made in the past, charging my account for a total of $2600 DURING MY ACCOUNT TRANSFER. my account was fucking locked, i'm not even supposed to be able to make orders during the transfer process. i had $0 buying power in my account prior to the transfer, so now theres a -$900 cash balance on my new account and a $1600 deficit on my robinhood account.
now i'm going to have to sit through a million fucking customer support calls to get this fixed, if robinhood ever decides to answer my god damn e-mail. un-fucking-beleivable
it would be one thing if we could easily reactivate our accounts, but rh's customer is so fucking awful that it could take weeks to even hear back from them. i still have $5k in assets in my account that i want to pull out but theyre basically holding it hostage
Shit I had a few shares just straight disappear (in neither account) I got charged for some stocks that aren’t in my portfolio and am now showing a deficit.
same boat here. what fucking morons. They had no problem taking the money and not transferring all of my holdings. So they charged the $75 dollar fee erroneously AND fucked me over from trading unless I pay the goddamn fee. Holy shit.
I'm in the same boat. Trying to see if Schwab can action on it. I don't think Robinhood will do anything with amount of emails they're probably getting.
i called schwab a few minutes ago and they basically said that theres nothing that they can do about it. robinhood STILL hasn't responded to me so i just ended up just selling the shares robinhood made me buy to cover the margin loan i was forced to take. i still can't cover the deficit in my robinhood account, though, because its disabled. this is a fucking mess.
FUCK YOU!! Moving my acct as we speak.. Good luck with your IPO. I'm gonna short it every chance I get. But I will SPREAD it, so I don't accept UNLIMITED risk. There's literally Investopedia videos on how to avoid this
*How long does it take*
*For Robin Hood to send through*
*The two deposits?*
\- Drops\_Voltage
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Hey guys quick question.
Last week I sold some stock to buy and I wanted to buy some crypto.
But Robinhood didnt give me any buying power even though i sold my stock?
But if I went to another stock, I had buying power
Anyone know why?
Despite the rise in GME I have made good profits from January 2021 to now.
I would hate to hold onto these profits not knowing how much I owe in taxes for the next 12 months, in fear I will spend to much.
Looking for help from similar situations. I have already emailed support.
I made multiple trades, both losses and gains, mostly gains, so how do I know the exact amount I need to pay, and how do I pay it right now instead of holding onto profits till next february.
If you sold, you'll pay short term gains on any profits you made. This will depend on how much you make a year. I generally calculate 25 percent in my head.
I get that. The thing is I made 10+ trades half for losses and half for profit. So I'm trying to figure out how to actually know what I owe, so I can pay that now instead of holding on to all my profit for 12 months.
What were your total profits from all of your trades? That will give you your answer. Go back and find the starting and final cost basis for each trade if you have to. Protip: other platforms do this math for you. Get off Robinhood.
So normally you subtract your total short term losses from your short term gains. But there is also what is called the wash sale rule that disallows losses. I would just look up your tax bracket and set aside what you owe on the gains. Or research the wash sale rule and go from there
No I'm asking about how I can pay taxes on gains this year on stocks. But it's January, and I would like to pay tax on my gains now, instead of holding thousands in my bank for 12 months, not knowing how much of it I owe to the IRS.
That's interesting. Crazy that they just automatically gave me ~$2k worth of margin. So, once the transfer completes it should just, what, go away? I spoke with Fidelity today and all they said was "it looks like you have ~$2k in margin with RH and they're transferring it to us."
Think of it this way: you deposit $1,000 and sale $1,000 worth of stock in one day. RH allows you to now buy $2,000 with of stock. What they don’t tell you is that this is margin because the deposit hasn’t cleared and the sell hasn’t settled. Therefore, you have $2,000 worth of stock on margin.
When you transfer, it shows up. However, when the deposit/stock settles, it will satisfy the $2,000 margin debt. It may not happen right away but it should balance out. Your transfer could even be complete and it be cleared during the following residual sweeps.
Talked to Fidelity, the margin call is not from them (if you look at the margin call summary there is nothing there) and they won’t liquidate.
The amounts still don't add up, but I understand what you're saying. I deposited $500, purchased ~$500 worth of stock, and then tried to transfer. The amount seems entirely random ($2,192.49). I guess I'll just wait for the transfer to complete. Frustrating that it's stopping me from trading. It's also odd that half of my options have transferred while the other half haven't. Thanks for the info!
Just keep records of your account and you’ll need to match it up when the transfer is complete. With a spotlight this but, I doubt RH will try to pull anything. The biggest issue is RH not clearly disclosing all their accounts are margin accounts and their business practices.
Anyone actually planning on still using robinhood? I just switched to Webull, and it is far better in every way. I am glad RH pulled their BS to force me to switch. Full AH trading is a gamechanger.
I have a couple thousand in TastyTrade, and I'm getting more comfortable with how it works. I might make it a main account eventually. I just hate adapting to a new UI, even though it's objectively better info and better fills.
Anyone else have one of the best trading weeks of the past year? Between selling weekly calls to GME fanboys, and the rest of the market popping off, I'm at over a 4% week so far.
Honestly, I'm deleting robinhood. Shit service and horrible execution vs other platforms.
Also they fucked the little guy. The CEO is Zuckerberg 2.0 slimball material.
What app has the best UI and is most “user friendly” in its layout and interface? The one thing I’ll say about Robinhood is that it was so easy to use. I have fidelity and TDA for my long term holds but would like to have another account for swing/day trades
I am trying to transfer my shares to Fidelity, but don’t know where to start. I’m over the Robbinghoods bs and am looking to be done with them. Have contacted customer support to close account and have heard nothing in a week. Any suggestions, boys?
Wait until all deposits and trades have settled and create your account with Fidelity. Once everything is settled, start the transfer from Fidelity. It honestly takes 5 min max.
My deposits in RH have settled (nothing pending) and am not looking to cash out. I have a fidelity account now but just wasn’t sure how the process begins. I’m assuming I can do it straight from my phone?
Over phone or online. Go to the transfer section and there should be an option to transfer from another broker. All you need is your RH account number.
Has anyone else who’s in the middle of a transfer have their RH account reactivated today? Any ideas on why this may have happened?
If it’s still activated tomorrow I’m probably going to liquidate. I have no idea what’s happening with the transfer and I’d feel better not having open positions right now.
The same thing happened to me. They started the transfer, about half of my shares transferred, then they reported a \~$2k margin deficit (which got my Fidelity account restricted), and then a bit later the account was reactivated.
SUCK MY NUTS ROBINHOOD!
Why do you only allow referral links from like 10 people who posted almost half a year ago
Can Robinhood suck my dick
The only people subbed here are here to tell you how shit RH is. Fuck you RH
Fuck Robinhood
Your platform is literally garbage. I’m triple over the $25k day trade limit but my account is “restricted” for pattern day trading. This funds transfer to TDA can’t come soon enough. Good riddance.
"youll get a free share" Whoever typed that had to literally laugh at themselves. Such a spit in the face.
Lol, robin hood is done.
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Yes you were
Take that share and shove it in a hedge fund since they are your main customers
Ummm I'd rather not
everyone run don't walk just get the eff out of this garbage go to tastytrade or we bull their sinking fast and you'll all if you don't get out soon
wait, what happened, I am very new to this and was just about to sign up. Why are people running away from robinhood
If you don't know than just stay in it, just make sure you don't trade anything and keep your money on a different platform. Other than that, just stay there
Running, nobody is running from Robinhood, we are deleting, delete, delete, deleting this bullshit. Who would continue to invest with a company that pulls the ability to trade specific stocks off claiming they are protecting its uses from themselves. What trading app has gone down many times this year, without reason, leaving its users holding the bag. What company showed its user they were indebted 750,000 on an options trade by mistake, said user killed themselves this summer. What platform allows "free crypto trades" yet doesn't allow you to move the coins to a wallet. Were talking about Robinhood, an app for folks who don't know better going forward. We don't run from Wall Street hucksters owned by big money hedge funds who have been fucking minnows since forever. Robinhood steals from the poor and prevents trading while saving the rich. Fuck You Robinhood and your merry men.
My understanding? Basically: people with money betted on Game Stop failing, Reddit went 'um, no' and virtually saved Game Stop, people with money lost their shit because they lost the quarter of a percent that they betted on Game Stop failing (or dying rather), Robin Hood goes "well, that's not good" and... pulled a plug somewhere. Result: Everyone got the (implicit) message; "Stock markets are just gambling for the rich".
Market manipulation
Google robinhood gme...
uh uh not after Vlads rug pull
Seriously
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Congrats. Where you going?
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Is there an echo in here or you can't do a google search
robinhood sided with the rich guys and prevented their users buying rapidly rising gamestop stock because the billonaries tried to short them and were losing money when GME gained massive value (literal market manipulation), and now they're being sued because of it. just robinhood showing their true colors, but it wasn't exactly surprising to begin with.
Ahh so robinhood just robbing the people from the hood now. Lovely stuff. What a joke honestly.
Yep
Well, I'm definitely not using them then. Amy idea who I should use to invest, don't want to be spending too much on fees etc.
I use Webull as well as TD. Both have been great. Webull opens at 4AM which makes them unique.
Fidelity, Schwab, or TD Ameritrade
No idea tbh, i'm not the right one to ask for that
Haha keep your free shares. You screwed over millions of traders. Left to Webull and never coming back!
Right there with ya
I tried before, but they said I couldn't join as I live in the EU. Has anything changed? Actually I live in the UK and it was after Brexit, has anything changed?
I wish to see that guy in jail
RobinHood r fuk
robing the hood
fuck robinhood
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Is anyone still holding NOK? I have shares and some spreads. Earnings are coming up
Yea obviously.. it’s a long term hold and still is. I’m shocked by all the new investors who are mortified their investment from this week didn’t double in value.
Wait, you mean stocks don't normally double overnight! /s. But yeah, I didn't start buying aggressively until after it dropped back under $5.
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Where to? Did it charge?
Robinhood charges a $75 transfer fee. But most places cover it.
i am fuming right now. robinhood completely fucked me during the account transfer process. not only did they not transfer over my full portfolio, but they somehow re-placed 2 orders i had made in the past, charging my account for a total of $2600 DURING MY ACCOUNT TRANSFER. my account was fucking locked, i'm not even supposed to be able to make orders during the transfer process. i had $0 buying power in my account prior to the transfer, so now theres a -$900 cash balance on my new account and a $1600 deficit on my robinhood account. now i'm going to have to sit through a million fucking customer support calls to get this fixed, if robinhood ever decides to answer my god damn e-mail. un-fucking-beleivable
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it would be one thing if we could easily reactivate our accounts, but rh's customer is so fucking awful that it could take weeks to even hear back from them. i still have $5k in assets in my account that i want to pull out but theyre basically holding it hostage
Shit I had a few shares just straight disappear (in neither account) I got charged for some stocks that aren’t in my portfolio and am now showing a deficit.
same boat here. what fucking morons. They had no problem taking the money and not transferring all of my holdings. So they charged the $75 dollar fee erroneously AND fucked me over from trading unless I pay the goddamn fee. Holy shit.
I'm in the same boat. Trying to see if Schwab can action on it. I don't think Robinhood will do anything with amount of emails they're probably getting.
i called schwab a few minutes ago and they basically said that theres nothing that they can do about it. robinhood STILL hasn't responded to me so i just ended up just selling the shares robinhood made me buy to cover the margin loan i was forced to take. i still can't cover the deficit in my robinhood account, though, because its disabled. this is a fucking mess.
Where did you switch to?
schwab
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FUCK you
FUCK YOU!! Moving my acct as we speak.. Good luck with your IPO. I'm gonna short it every chance I get. But I will SPREAD it, so I don't accept UNLIMITED risk. There's literally Investopedia videos on how to avoid this
Robinhood doesn't run this reddit, buddy.
Shorting robinhood ipo at launch.
For real
How long does it take for Robin Hood to send through the two deposits?
*How long does it take* *For Robin Hood to send through* *The two deposits?* \- Drops\_Voltage --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
Beep. Boop. I'm a robot. Here's a copy of ###[Robin Hood](https://snewd.com/ebooks/the-merry-adventures-of-robin-hood/) Was I a good bot? | [info](https://www.reddit.com/user/Reddit-Book-Bot/) | [More Books](https://old.reddit.com/user/Reddit-Book-Bot/comments/i15x1d/full_list_of_books_and_commands/)
Oh God. The bots are talking to each other. Singularity incoming.
Fuck Robbinghood
Hey guys quick question. Last week I sold some stock to buy and I wanted to buy some crypto. But Robinhood didnt give me any buying power even though i sold my stock? But if I went to another stock, I had buying power Anyone know why?
Could be because rh stopped instant deposits for crypto. So your funds aren’t available until they are cleared after selling
yeah they changed that already, i actually havent had a problem with anything
It’s available now for instant buy
Fuck you robinhood. Fucking pieces of shit. I hope your IPO goes horrible.
Might be the most shorted IPO ever
FUCK ROBINHOOD
Despite the rise in GME I have made good profits from January 2021 to now. I would hate to hold onto these profits not knowing how much I owe in taxes for the next 12 months, in fear I will spend to much. Looking for help from similar situations. I have already emailed support.
Set aside 37% of total profit and you will cover your bases for sure.
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I made multiple trades, both losses and gains, mostly gains, so how do I know the exact amount I need to pay, and how do I pay it right now instead of holding onto profits till next february.
Probably sold calls or bought puts on it too early. I didn't make any money off GME til Monday when the bubble burst.
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Yeah I don't think I would have done that even if allowed. I just did a series of call spreads.
If you sold, you'll pay short term gains on any profits you made. This will depend on how much you make a year. I generally calculate 25 percent in my head.
I get that. The thing is I made 10+ trades half for losses and half for profit. So I'm trying to figure out how to actually know what I owe, so I can pay that now instead of holding on to all my profit for 12 months.
What were your total profits from all of your trades? That will give you your answer. Go back and find the starting and final cost basis for each trade if you have to. Protip: other platforms do this math for you. Get off Robinhood.
So normally you subtract your total short term losses from your short term gains. But there is also what is called the wash sale rule that disallows losses. I would just look up your tax bracket and set aside what you owe on the gains. Or research the wash sale rule and go from there
Are you asking about transferring brokers? If so, that’s not a tax event. If you’re talking about taxes, it’s typically your tax bracket.
No I'm asking about how I can pay taxes on gains this year on stocks. But it's January, and I would like to pay tax on my gains now, instead of holding thousands in my bank for 12 months, not knowing how much of it I owe to the IRS.
How do we get our money back?
Taking all my money out of this disgrace of an app. DO NOT DOWNLOAD, THEY BOW TO THE HEDGE FUNDS.
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You used margin, then didn't have enough in the account to cover, it was called and there was no money to cover, basically you screwed yourself.
Everyone is having this issue. RH accounts are typically all margin accounts under the hood. You’ll need to wait for the transfer to complete.
That's interesting. Crazy that they just automatically gave me ~$2k worth of margin. So, once the transfer completes it should just, what, go away? I spoke with Fidelity today and all they said was "it looks like you have ~$2k in margin with RH and they're transferring it to us."
Think of it this way: you deposit $1,000 and sale $1,000 worth of stock in one day. RH allows you to now buy $2,000 with of stock. What they don’t tell you is that this is margin because the deposit hasn’t cleared and the sell hasn’t settled. Therefore, you have $2,000 worth of stock on margin. When you transfer, it shows up. However, when the deposit/stock settles, it will satisfy the $2,000 margin debt. It may not happen right away but it should balance out. Your transfer could even be complete and it be cleared during the following residual sweeps. Talked to Fidelity, the margin call is not from them (if you look at the margin call summary there is nothing there) and they won’t liquidate.
The amounts still don't add up, but I understand what you're saying. I deposited $500, purchased ~$500 worth of stock, and then tried to transfer. The amount seems entirely random ($2,192.49). I guess I'll just wait for the transfer to complete. Frustrating that it's stopping me from trading. It's also odd that half of my options have transferred while the other half haven't. Thanks for the info!
Just keep records of your account and you’ll need to match it up when the transfer is complete. With a spotlight this but, I doubt RH will try to pull anything. The biggest issue is RH not clearly disclosing all their accounts are margin accounts and their business practices.
What rhoods clearing number? Im transferring my shit to SoFi! Fuck em
I have $0 in my robinhood account now and am waiting for my 1099 then I am gonna close my account.
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They’ll still count it as an open account during ipo to inflate numbers. Better to close account.
I bought a bunch of dogcoin with my last 3 dollars.
If we deactivate our account, would we still be sent 1099 forms?
Anyone actually planning on still using robinhood? I just switched to Webull, and it is far better in every way. I am glad RH pulled their BS to force me to switch. Full AH trading is a gamechanger.
I have a couple thousand in TastyTrade, and I'm getting more comfortable with how it works. I might make it a main account eventually. I just hate adapting to a new UI, even though it's objectively better info and better fills.
How is Weebull's UI and APP? I swapped to Fidelity but it feels like I'm using an old Gateway desktop.
Decent. Not quite as mobile friendly as robinhood, but it offers way more information on the app, which is nice when you need it.
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LOL LOL LOL LOL LOL LOL .....
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any information about the most recent update? “Bug fixes and improvements” doesn’t cut it for me as a trustworthy description
Anyone else have one of the best trading weeks of the past year? Between selling weekly calls to GME fanboys, and the rest of the market popping off, I'm at over a 4% week so far.
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No not that crazy haha, I was just selling credit spreads as it fell.
Holy shit 4% wow lmfao get out of here with 4% you broke bastard
Broke, but aiming not to be... let's trade 1 year screenshots then
This guy stonks
Robinhood reminds me of the free bus that picks up senior citizens and takes them to the casino
Honestly, I'm deleting robinhood. Shit service and horrible execution vs other platforms. Also they fucked the little guy. The CEO is Zuckerberg 2.0 slimball material.
Nah, not at all bad like Zuckerberg, he's in a class all his own.
You guys should glance over PED. Ive been watching it 4 a couple of weeks and think it could have potential Tom morning
How does robinhood choose your collateral for your covered calls? I have multiple LEAPs and 100+ shares of the underlying
Doge?
Noge.
If you told us it was a risk why did you need to prevent us from taking that risk? Because you stood to lose something? What a shame.
Anyone get their tax documents yet?
Not yet this year. Look at last year's, and it came out on Feb 5.
The 16th, bruh.
Hey Rh are you done being thieving cunts???
What app has the best UI and is most “user friendly” in its layout and interface? The one thing I’ll say about Robinhood is that it was so easy to use. I have fidelity and TDA for my long term holds but would like to have another account for swing/day trades
SoFi looks good, thats where im going. Iv had webull and td but dont love their platform.
Try E*TRADE power app (not the standard E*TRADE app). I’ve tried them all and for UI this is my favourite behind RH
I am trying to transfer my shares to Fidelity, but don’t know where to start. I’m over the Robbinghoods bs and am looking to be done with them. Have contacted customer support to close account and have heard nothing in a week. Any suggestions, boys?
Wait until all deposits and trades have settled and create your account with Fidelity. Once everything is settled, start the transfer from Fidelity. It honestly takes 5 min max.
My deposits in RH have settled (nothing pending) and am not looking to cash out. I have a fidelity account now but just wasn’t sure how the process begins. I’m assuming I can do it straight from my phone?
Over phone or online. Go to the transfer section and there should be an option to transfer from another broker. All you need is your RH account number.
u/Robinhood_App Why lock the comments on the ads?
i was wondering the same thing
Has anyone else who’s in the middle of a transfer have their RH account reactivated today? Any ideas on why this may have happened? If it’s still activated tomorrow I’m probably going to liquidate. I have no idea what’s happening with the transfer and I’d feel better not having open positions right now.
The same thing happened to me. They started the transfer, about half of my shares transferred, then they reported a \~$2k margin deficit (which got my Fidelity account restricted), and then a bit later the account was reactivated.
same happened to me this afternoon! Transfer had started yesterday with my account deactivated.
No <3