Analysis: Robinhood protected from lawsuits by user agreement, Congress

Re:Analysis: Robinhood protected from lawsuits by user agree... by boatsie on Saturday January 30, 2021 @01:26PM (#25971494)

I seriously doubt it will be even a blip on their radar. In fact, I think this will be their “no such thing as bad publicity” moment and they will have massive growth. People have short memories (no pun intended) and the switching costs are also nontrivial.

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Re:Analysis: Robinhood protected from lawsuits by user agree... by csmiller on Saturday January 30, 2021 @01:44PM (#25971696)

What are the switching costs? Seems fairly trivial to move assets between brokerages.

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Re:Analysis: Robinhood protected from lawsuits by user agree... by elliekelly on Saturday January 30, 2021 @01:51PM (#25971773)

RH charges $75 to transfer holdings to a different broker. If you have a big account that's probably worthwhile but I get the impression a lot of RH customers are small-time people who are just dabbling in the stock market for fun. If your account only holds $500-1000 of securities a $75 fee is pretty steep.

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Re:Analysis: Robinhood protected from lawsuits by user agree... by mrep on Saturday January 30, 2021 @02:08PM (#25971941)

Or you know, just don't open any new positions there and transfer your funds back to your account once you have closed the rest like I did. Then you have nothing there, can deactivate your account and just open an account at another place.

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Re:Analysis: Robinhood protected from lawsuits by user agree... by franklampard on Saturday January 30, 2021 @02:09PM (#25971948)

Effectively $0. Outbound costs $75 at Robinhood. If you are moving more than a few hundred dollars, the new broker will reimburse the it.

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