Binance is restricted in the US. Coinbase/Coinbase pro are good starter platforms. I personally migrated from Binance to KuCoin cuz I hold abunch of alt coins.
Yeah... This is absolutely ridiculous. Eventually is just just going to flag stocks going up or w/ high volume. I think going forward if they're somehow able to block buys on shares without worry if people haven't already left them - they hopefully do soon. Also, with this growing list, it's probably an indicator for short positions to squeeze.
FYI : they're having liquidity problems. They just had to borrow lines of credit from lendors totaling something like $1 billion.
I'm hoping this isn't going to spread systemically to other brokerages or something. I can't tell if it's starting to affect other stocks or if people are just taking profits in these other sectors. Or possibly just hedging. I was ready to dump some money into the market after a couple of down days, but I'm still mulling that over. With the GME zaniness, I may wait a bit.
Well CEO says the opposite though? Robinhood CEO Vlad Tenev shot down speculation on Thursday about the company's finances, telling CNBC's Aaron Ross Sorkin "there was no liquidity problem." The rumors arose after Bloomberg reported Robinhood had borrowed "at least several hundred million dollars" from banks amid the recent trading frenzy on its platform. "In terms of the credit lines," Tenev told CNBC, "that was really a proactive measure." "We pulled those credit lines so that we could maximize, within reason, the funds we have to deposit at the clearing houses," he added, referring to regulations that require brokerage firms like Robinhood to have a minimum amount of money deposited with financial clearinghouses at all times.
Hmmm... interesting. If that's true, then I'm wrong. The restrictions allowing you to close positions only has been done before in the past (it's not like they're necessarily trying to "screw the little guy"), but I want to see if there's any evidence of cheating the system with that. I think several brokerages did the same thing with USO futures back in the Spring if you remember that cluster. I think other brokerages were also limiting trading on GME and other similar stocks during the recent run-up, so it wasn't just them. It doesn't necessarily mean anything nefarious. This is one of those times I wish I still worked at a brokerage. I could go ask the guys in-the-know and legal department about questions like this. LOL. I was just a peon looking at order execution. I'm sure it'll all come out. But like I said, I hope this crap doesn't spread.
If you don't understand why there was a run up on doge, you should probably stay out of crypto. Crypto is much more difficult to trade in. There are no back room deals to exploit. There is no hidden money to shore up reserves. Everything is out in the open. As more and more money is dumped into crypto, the harder it will become to manipulate. This 'easy' money fallacy will eventually catch up. There are a handful of very smart retail investors who are tell us dumb people what to buy. FYI: Dogecoin spiked because WSB wanted to cause further liquidity issues for RH.
I suggest you fully understand what you're doing with crypto before you get screwed over -- especially if you're going to buy a large amount. Assuming you're in the US, get on something like Coinbase, Gemini, or Kraken or something and buy bitcoin or ethereum to avoid the headaches of trying to figure out if you're on a "legal" exchange. Learn about 2FA, wallets, addresses, etc. or have someone walk you through before you get into it. Then be prepared and understand if your crypto is on a wallet not on the exchange to not be able to log into your exchange if there is a massive run or something where you want to sell. lol. I say that only half-jokingly. Or ... just buy some and forget about it for a while and pray it goes up some.
? I don't get it... what is the tweet trying to say? What ads? I generally don't blindly react to "30 second vids" or screenshots of a 10 minute video, so help a brotha understand...
This is beer money gambling. I'm not using this for real investing. I might put in a few hundred if that and see where it gets me. You are mistaking investing with carnival gaming. If I can see it go down slightly in the day then buy then I can make on the upticks. You make it sound more than that.. Perhaps I lose my 500 or so bucks and that's that. So where can I do trading like I'm saying? What is the way. All my robinhood is frozen for 3 business days. Maybe in 3 days I can with robinhood but right now I can't. I was going to gamble instead will try this it seems no different
I want to blow like 500 and buy /sell all day this sh*it is fluctuating big time. How? Get on one of those and buy and sell? That easy? One that is quick? Thanks! Again I'm talking small bets
Sorry I posted two separate things in the post. First was just a video from CNBC about the restricted stocks on RH. Second is a picture of a CNBC tweet. Bottom left of the CNBC tweet = Promoted...assuming that means they are paying to pump that tweet I think.
I bought my positions and held. I'm not sure what all the cool kids are using. For basics, do coinbase and Gemini. Binance and Bittrex will extend your casino floor to all the scam coins. A couple hundred is a good start to lose. Just understand there are no firewalls or circuit breakers. send your bag to the wrong wallet, it's gone forever.
Ah, ok. Gotcha. I don't know, but anything that CNBC promotes will be something news-related unless it's promoting a show, I guess. Squawk Box is one of their morning shows and that was breaking and big news, so no idea about that one. I'd like to see some of their other "promoted" stuff and compare. If you guys are trying to say all these organizations are "rigged", to an extent, I think that's pretty much known. Maybe not intentionally in some cases, but a lot of them are "used" for nefarious purposes. Some of this is starting to sound like watching a Dem vs. Rep argument nowadays. Grab the pitchforks and a side. lol. Just be careful you're not being roped into a gang and investigate what's really going on. I'm more concerned about the changes in regulation that may result from this. But who knows when we'll find that out. Or what we'll find out. Some of the stuff we're hearing like "omg, they pay for order flow?" or "CITADEL FUNDS THEM?!" ... derp... all this is known and out in the open, has been know, and is part of the "system". The intertwined nature of finances has always been there and it's disgusting. It's full of sleaze, and inherently so, because it's greed, money, and human nature.
It very well might cause a market collapse. In the long-run everyone's accounts (up to $500K) are protected by SIPC insurance but it will take time to sort through which sucks if your money or stock is tied up, but regardless, a broker or hedge fund is a big enough domino to fall and freak out market. We're in uncharted territory with this whole GME thing and no one really knows the true exposure of institutional shorts given the lack of transparency and use of leverage by hedge funds. If hedgies would have just eaten their loss in the $50-200 range, this would have blown over and been a story for the ages but it looks like instead, they tripled down and resorted to shady tactics, which basically poured way more gasoline on the dumpster fire.
I don’t understand. I was agreeing with you completely, and saying that the post you were replying to was troll. Who seriously thinks something going from 4 to 7 is that out of line? New to this years market? No. Newcomer to this thread? Yes.
So when Vlad said it wasn't a liquidity issue what he meant was, it's a liquidity issue. **** robinhood
