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by benbowdene 3367 days ago
I agree. Especially when most of their user base is probably millennials who are < 2 years into trading. A bit scary.
2 comments

Here's scary: https://np.reddit.com/r/RobinHood/comments/5y8cw4/after_maki...

The guy was posting around about consumer law and how he should be able to get a refund.

> I bought Express stock EXPR yesterday. I know a girl who works there and I thought it would make a good conversation piece but now today the stock is going down really fast. That's the one I want to return. I don't want to have to go into the actual store to talk to them about this I was hoping there was an option to do it online.

That's someone having a laugh at the expense of a bunch of fools who think they're so much smarter than him.

"I was banned from [/r/wallstreetbets] for 2 days for linking this thread. Worth it."
It's so bad. If you offered the same people a loan at x% annual interest rate, I bet far fewer of them would bite, but that's exactly what the Gold monthly fee is.
At $10/mo (=$120 year), assuming a 1.5% interest rate, you're actually saving money on interest expenses if you invest more than $10k on margin for > 1 year. Doesn't sounds that bad to me?
It's $10/mo to borrow up to $2k. The cost to borrow more goes up.
It's 100$ pm to borrow 24K$. It is not bad overall.
At least 6% and 5%? Not bad. If you use all of it.

Still, I'm predicting margin calls in someone's future.