Robinhood, in Need of Cash, Raises $1B from Its Investors

Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by hnrodey on Friday January 29, 2021 @11:20AM (#25958920)

Just my two cents.

I created a Robinhood account on Wednesday evening and transferred $1000 via Plaid. My account is still not active and AFAIK that $1000 is in limbo.

The app tells me "We're reviewing your application and your deposit is pending. Application approval may be delayed. We'll notify you when you can begin trading."

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by ev1 on Friday January 29, 2021 @02:01PM (#25960955)

Note that if you start being able to use those funds before several weeks have passed, you're almost certainly going to be trading on margin even though you made a "cash deposit", because ACH funds will not settle for up to a month.

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by nrmitchi on Friday January 29, 2021 @11:25AM (#25959011)

IIRC this is a new thing in order to limit exposure to the positions above.

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