Aussie version of RobinHood?

[bresker]

Hi

Anyone tried an Aussie version of Robinhood? Or can you use a VPN to download it?

As an alternative I guess there are other stockmarket apps you could use.

Are there any Aussie subreddits on the matter similar to the American ones?

Sorry for all the questions, I'm curious about this new system.

I find it hilarious that the Wall Street traders are crying foul, given their history of hedging and short selling, not to mention insider trading and outright fraud.

It does make me wonder what the actual value of money is these days. Is the whole financial system a Ponzi scheme, destined to come crashing down? Is the money tied to anything concrete? What happens if everyone cashes in and lopsides the market?

 

[BIRDBRAIN]

Just buy bitcoin. This is not financial advice.

 

[bhoysdontcry67]

Stake would be our version of Robinhood.

There has been some extreme delays with the app however but seems to have been fixed

 

[burge13]

Dont use any version of robin hood

I believe RH hold your shares to save on brokerage, so if they go under you lose everything. It isnt worth the risk, youre better off having the shares in your name. Just pay the brokerage fee, really, this shouldn't need to be said.

RH are in a very real risk of going under whether it be by losing money, pissing everyone off and they leave, or regulation. People will lose thousands if it happened. Use a proper broker

 

[Kram]

I don't use CMC but they are supposed to be good an offer $11 trades? Really brokerage is pretty cheap and not worth worrying too much about.

Dont use any version of robin hood

I believe RH hold your shares to save on brokerage, so if they go under you lose everything. It isnt worth the risk, youre better off having the shares in your name. Just pay the brokerage fee, really, this shouldn't need to be said.

RH are in a very real risk of going under whether it be by losing money, pissing everyone off and they leave, or regulation. People will lose thousands if it happened. Use a proper broker

What's that saying, worrying about pennies whilst standing in front of a steamroller.

 

[burge13]

I don't use CMC but they are supposed to be good an offer $11 trades? Really brokerage is pretty cheap and not worth worrying too much about.

What's that saying, worrying about pennies whilst standing in front of a steamroller.

Trying to get 'free trades' to save $9.95 or $11 probably indicates not being in a position to invest at all...

Especially when going to use a broker where shares won't be in/under your HIN.

RH asking for another 2.4B raise atm too. No way they make it, there's not enough money in what they're doing plus all the bad PR of the last 2 weeks. People will lose their arse if/when it collapses

 

[Nothing]

I can't remember if it was Storm or Westpoint (or one of the others that went belly up in the GFC) was operating under this model. The gullible investors lost everything when the music stopped.

 

[Falchoon]

I haven't looked at robinhood in detail but this one looks similar in concept.

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They use the same HIN workaround ("custodian model")that burge13 mentions above

 

[GoEaglesGoSGIO]

If you cant afford the 10 dollar brokerage, you cant afford to own shares period really