I am a military member whose been trying to grind ahead for some time. I have had this app for over one year convincing my friends to utilize it. At first it had great interface and support. Whenever a glitchy interface issue happened it wasn’t a big deal. I am a bit aggressive with my investments and utilize margin. They have always been transparent with regards to when a calls happening and when funds are due. Recently, the app gave me conflicting messages. I lodged two complaints / trouble tickets as that’s the only means of communication besides a number that only plays a recording to lodge complaints online. Long story short, I was told to cover but when I went to cover and see what was needed and estimated as a safe amount, it said I was fine. Today they sold my positions at a huge loss. I was prepared to cover but they’d rather not answer customer service. I will be seeking recoupment legally as this is not a sound business model. Every brokerage is responsive within an hour or so or at the very least will tell you in a single location what amount of funds are needed and when. This is straight up bad business and a poorly run app. Unless customer service fixes this problem I will keep this review in place and encourage all my friends to place similar reviews. I will also be reaching out to the media as I have app screenshots showing it displaying this conflicting information.
From Robinhood Markets, Inc.: Free stock trading. Stop paying up to $10 for every trade.Robinhood for iPhone, iPad, and Apple Watch is a free download that allows people to buy and sell stocks for free! View market data in real-time, build a personalized watchlist, and place trades with a few taps. Robinhood for iPhone- Free trading refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities via mobile devices. SEC & FINRA regulatory fees may apply.- Access market data and quotes in real-time- Build a personalized stock watchlist with historical market data and detailed charts- Place market, limit, stop loss, stop limit, and good till canceled orders- Track your portfolio through our Notification Center widget- Quickly tell when the markets are open and closed, with simple color schemesRobinhood for Apple Watch- Check your portfolios overall performance - Peek at your watchlist and view detailed information- Buy and sell stocksSecurity- Authenticate quickly with Touch ID or set a custom PIN code- Your sensitive personal information is fully encrypted using SSLAccount Protection- Robinhood Financial is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.Please read important disclosures below:All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.Margin trading involves interest charges and risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market. Before using margin, customers must determine whether this type of trading strategy is right for them given their specific investment objectives, experience, risk tolerance, and financial situation.System response, execution price, speed, liquidity, market data, and account access times are affected by many factors, including market volatility, size and type of order, market conditions, system performance, and other factors.All securities and investments are offered to self-directed customers by Robinhood Financial, LLC, member FINRA (www.finra.org) & SIPC (www.sipc.org). Robinhood Financial, LLC is a wholly owned subsidiary of Robinhood Markets, Inc.
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