Robinhood is fully insured. You get cash back up to 250K from your account if they go under and no entity is going to be taking your stock held in street name out from under you. It's a name change in a ledger if it comes to that. There's no Jon Corzine thing going on here because there's no futures accounts from which to pilfer. My answer is correct. Don't daytrade with them, use limit orders and you'll get what you want as price trades through your order. "Trust" has nothing to do with market orders. You put one out there and you're advertising, "I'm here! Please screw me!" You get what you deserve. Everyone knows that IB is conservative, solid, has competitive commissions and virtually trades anything on the planet. But the OP didn't want that. He wanted free and RH is going to be as good as it gets at that level.
I see the same thing Bob, C2 gives .42 cents back on single leg equity customer orders adding liquidity in penny classes, which is the best of all the exchanges. On non penny classes, Bats and Pearl are the best at .85 with C2, Nasdaq at .80 rebates (as of December).
interesting offer. Bob can you elaborate on this. GET OFFER Lightspeed Trading offers robust brokerage and technology solutions for the sophisticated trader. Through their proprietary software and third-party relationships, they offer both out of the box and custom trading solutions to meet your trading needs. Their experienced desk offers unique platform insight and top-notch customer service, all with an ultra-competitive pricing structure. Committed to their clients and continually investing in the latest trading technologies and tools giving their customers the edge they need. Put simply, Lightspeed is the broker for the sophisticated, active trader.
https://www.lightspeed.com/10k-2018/ OPEN A NEW ACCOUNT AND Get up to $10,000 Cash Back Open a new account and Lightspeed will rebate 50% of your equities and options commissions for the first three months up to $10,000 cash back Offer available to new customers who utilize any of our DMA trading platforms (Lightspeed Trader, Sterling, or RealTick) Use promo code “10K2018“ Promotion period starts the day the account is opened and ends after 90 calendar days. Rebate will be deposited directly into your Lightspeed account within 45 days of the end of the promotional period. Cannot be combined with any other offer or discounted rates. Offer available to new customers only. Only NASDAQ, AMEX, and NYSE listed stocks, and listed options contracts, are eligible. Does not apply to non-exchange listed stock, i.e. OTCBB and Pink Sheets. Does not apply to accounts using WebTrader. Account must be funded with, and maintain, a minimum of $25,000 in equity at all times during the promotional period. Rebate does not apply to routing or regulatory fees.* $1 minimum.
If anyone here does not have an account with us and wants to give us a try, go to this link, sign up for an equity/option account (Cash, margin, DT margin), choose your platfrom and Robert Morse as your sales person. Minimum account size is $25,000 https://secure.lightspeed.com/AccountOpening/step1.php Domestic PMA is a different link ($175000+) Email me and I will send you that. Foreign accounts are done with paper applications. I can help you get the right one if you email me. I can also help choose a platform if I know more about you and your trading. Bob
Hate it when companies do this! Cable companies do this all the time. What message does it send to existing customers? Why not include existing customers to enjoy temporary perks? Practically forced me to cut the cord! I understand it's not your call Robert, just venting .
The purpose of these promotions is to give a new client the opportunity to try our services. As is, for a Direct Market access broker, our base stock rates are among the lowest in the industry and the same for our option and futures rates.
The firm I trade through offers sort of fixed monthly trade fee, but there is a breakdown by trade volume; still it turns out a good deal.