Robinhood is owned by the same people who own Citadel, if you followed the GME stuff. They make money by selling your order flow to citadel's high frequency trading hedge funds.
Robinhood is only different in its margin features. They have great margin rates and instant margin access and sale settlement, which is a source of revenue nobody else in the free-broker sphere uses.
The Robinhood investment account sync is kind of a mess so I just do it manually now in Empower. Ex: it sometimes just shows the balance, but not the underlying holdings (throwing off a bunch of charts like asset allocation), it won't reflect margin being used, you get hit with 2-factor prompts every time you open Empower, etc.
Robinhood credit card 3% cash back on everything - Mr. Money Mustache
Robinhood and Beneficiaries Robinhood doesn't allow for beneficiary designation. Rather than having to wait through the probate process for my heir (s) to get the assets in the Robinhood account, is it possible the account could be put into a trust, like my home, to avoid the probate process?
I read that Robinhood doesn't offer mutual funds, so you probably can't buy VTSAX there. Note at Robinhood your trading data is the product they sell to hedge funds. In terms of how they make money, hedge funds are their clients. I don't like that kind of conflict of interest. For new investors, Vanguard offers a lot of safe choices.
If anyone should need to enter extensive detailed transaction information (for example, lots of wash sales), most tax programs allow you to import or copy-paste in transaction information that is in CSV or spreadsheet format. As described below, Robinhood definitely provides an Excel file upon request. I would be surprised if Loyal3 did not have a similar function. When we couldn't wring a ...