[fixxer]

Not saying you don't have a point, but there are a lot of ways to lose your ass in this world and I don't see Robinhood as a particularly egregious case that requires any more warning than Fidelity (which will jam fees).

Unless you have a gambling addiction, it is hard to get into trouble with a cash account. Margin accounts are another issue, but in the States, "pattern day trading" requires $25k minimum balance to execute more than 4 trades in 5 biz days. That is a pretty effective filter.

I really hope they add IRA support soon.

[ryanmonroe]

Just to be clear, unless you're in the margin account beta, "free-riding" is impossible in Robinhood, so users will never be breaking any day trading rules.

disclaimer: this is not legal advice

http://www.finra.org/investors/day-trading-margin-requiremen...

>Day trades can occur in a cash account (only) to the extent the trades do not violate the free-riding prohibition of Federal Reserve Board's Regulation T. In general, failing to pay for a security before you sell the security in a cash account violates the free-riding prohibition. If you free-ride, your broker is required to place a 90-day freeze on the account.

[fixxer]

Yup, agreed. For the uninitiated, this refers to your account showing a positive balance based on a sale that occurred but has not settled.

Seems like a great app... just have to get some money in there without telling them my bank creds...