Re:Robinhood sued by family of stock trader who killed himself
by Cthulhu_ on Tuesday February 09, 2021 @09:48AM
(#26078090)
Robinhood isn't liable for this, as long as they abide(d) by SEC or European laws.
Re: your second paragraph, consumers / retail traders in Europe have to prove basic understanding of the stock market and the risks involved before they are allowed to trade stock (MIFID II [1]).
I've been involved in building a stock trading platform for a bank, both before this was a thing and while it was being implemented. I'm a customer there nowadays, and with my knowledge level I'm not allowed to trade in stock options. Probably for the best. I'm doing well enough with a low risk index tracker on the one hand, and 'play money' on the other that I can risk losing.
Re: your second paragraph, consumers / retail traders in Europe have to prove basic understanding of the stock market and the risks involved before they are allowed to trade stock (MIFID II [1]).
I've been involved in building a stock trading platform for a bank, both before this was a thing and while it was being implemented. I'm a customer there nowadays, and with my knowledge level I'm not allowed to trade in stock options. Probably for the best. I'm doing well enough with a low risk index tracker on the one hand, and 'play money' on the other that I can risk losing.
[1] https://en.wikipedia.org/wiki/Directive_2014/65/EU