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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.
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.
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.
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.