News for hackers. Stuff that matters.

A comment on Analysis: Robinhood protected from lawsuits by user agreement, Congress. Parent comment

Re:Analysis: Robinhood protected from lawsuits by user agree... by gruez on Saturday January 30, 2021 @02:01PM (#25971874)
Is there proof of this? This gets repeated a lot and the best "proof" I've seen was a wsb post claiming they got sold "without [their] permission", but stopped short of saying whether they were using margin or not.
[ Parent | on HN ]
Re:Analysis: Robinhood protected from lawsuits by user agree... by nrmitchi on Saturday January 30, 2021 @02:10PM (#25971955)
One piece of the "Robinhood Abstraction" that is popping up a lot right now is that the fact that a large majority would have been using margin, but not known it.

Much of the nice and fast experience that Robinhood offers ("Just signed up? You can start trading!", "Initiated a transfer? Start trading now!", "Just sold something? Rebuy something else immediately!") are all powered by the fact that these are all technical using margin.

[ Parent | on HN ]
Re:Analysis: Robinhood protected from lawsuits by user agree... by Jommi on Saturday January 30, 2021 @03:41PM (#25972795)
If you use the "instant deposit" feature (its ON by default) on Robinhood, you are using margin. Its one of the weird things people never really though about.
[ Parent | on HN ]