How much time can robinhood hold money on closed account how are people day trading

Contact Robinhood Support. So you how to adjust the timeframe on indicators metatrader parabolic sar indicator wiki lose more money in those circumstances because what you are allowed to do is limited and governed by. Make sure to have proper stock market training so you don't blow up your trading account. We established a rating scale based on our criteria, collecting thousands of data points that we weighed into our star-scoring. We'll look at Robinhood and how it stacks up to more established rivals now that its edge in price has all but evaporated. You seem to want to make everyone pay trading fees. I see from the comments that my intuition is not unfounded. Generally, the more orders that are available in a market, the greater the liquidity. It's very intuitive and easy to use to place an order. What was your question by any chance? I have used RH since May But, I would love to have a full web page on my best weekly trading system best intraday forex trading strategies to manipulate instead of just my phone. One additional issue. Robinhood is a commission jp morgan stock trade fee free list pot penny stocks brokerage that is app-based and they recently rolled out Robinhood Gold for margin trading for a fee. Any other option out there? Gold is a joke. Not sure if that is a delay or SCAM. You get in and out of a trade on the same day. Getting info to send you an unasked for credit card? This may not matter to new investors who are trading just a single share, or a fraction of a share. I honestly would rather be able to trade anytime, anywhere than to be tied to a computer all day. January 7, Brokers Stock Brokers.

Can You Day Trade on Robinhood?

Placing options trades is clunky, complicated, and counterintuitive. If you trade frequently, the app may be handy, but the research features are too basic to be of any use. No thanks.. Investopedia uses cookies to provide you with a great user experience. We have written about the issues around Robinhood's payment for order flow reporting here , and our opinion hasn't improved with time. It is a great way for people to get into learning about how investing in stocks works and the ability to buy and sell quickly without a fee is of massive importance to ANYONE interested in investing and managing your own money.. I honestly would rather be able to trade anytime, anywhere than to be tied to a computer all day. General Questions. Day trading on the go and being an inexperienced trader can be a recipe for disaster. Those quick moves can be easier to find than long term setups. However, as mentioned above, they are not transparent of fees. You may place only unconditional limit orders and typical Robinhood Financial Market Orders. Then, your day trade limit will change throughout the day based on the order, volume, and type of day trades that you make, not simply the number of day trades that you make. If you place a market order when the markets are closed, your order will queue until market open AM ET. For these reasons, I recommend that you do not try to day trade on Robinhood alone. Agreed, Scammers. Zero commission is great in theory, but You get what you pay for.

Keep in mind this value doesn't include your Gold Buying Forex signal alert super trading online forex the cash and stocks in your account. Your money are not safe with Robinhood! And they both have great apps. I have fidelity as well and utilized their resources. Robinhood has become a dominant force ninjatrader 8 espanol soporte average implied volatility the investing industry - offering commission free trades to its users, the ability to trade options and even crypto currency, and now it even has checking and savings accounts with a high yield! I like Robinhood. It's very intuitive and easy to use to place an order. Thanks for sharing your insights — hopefully another firm does buy. I have a tiny budget in comparison to many others I have seen talked aboutand am doing the research on my. Suspect this will get easier when Robinhood implements web based trading. When I told them to close the application, suddenly they said everything was fine.

Can You Day Trade on Robinhood?

Unforgivable in my opinion. I love Motif for that reason. I am new to stocks and investing. This app is good for beginner investors, but not traders. There is no way to communicate with them other than best forum for futures trading brokerage unlimited trading email. Total frustration! I wish it didn't do that and you don't have a choice to skip it that I saw. Here's where it gets tricky. Key Takeaways Robinhood's low fees and zero balance requirement to open an account are attractive for new investors. If you are no longer a control person for a company, or if you selected this in error, please contact support. Liquidity is important because with greater liquidity it is easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. The next screen asks you to fund your account. Go for it. Another downside of the app is the fact that it has a built in system to discourage day trading. We need to support. As with almost everything with Robinhood, the trading experience is simple and streamlined. I opted out of this because I hate notifications on my iPhone. Nonetheless, I saved over 12k in commissions there in making up about a third of my total trades. Account micro forex bank nifty option strategy on expiry day makes that easy.

However, Robinhood's customer agreement, a multi-page document most customers electronically sign without reading, is intended to legally absolve the firm of any responsibility for these outages. Day Trade Calls. Investing with Stocks: The Basics. Nothing in life is free. I like your response to the haters. The extremely simple app and website are not at all intimidating and provide a smooth on-ramp to the investing experience, especially for those exploring stocks and ETFs. I get my quarterly reports and all my tax documents are prepared and emailed. Orders made outside market hours and extended hours trading are queued and fulfilled either at or near the beginning of extended hours trading or at or near market open, according to your instructions. For the time being, I plan to continue using my previous brokerage to manage my overall portfolio using their commission free ETFs. I am credited instantly on transfers and can execute transactions immediately. It was all pretty standard stuff, but seemed like a robo-advisor:. Or better yet, should you day trade on it?

Setting Up The Robinhood App

This does help those with tight budgets. You couldn't see your statement, account, anything. If you're looking to short stocks, Robinhood is not the broker. You can hear the gears slowly grinding. This is a bogus review… To say that Robinhood will be gone in years is absurd. If you've been a beta tester, please share your insights. They break it down here. Robinhood does not publish their trading statistics the way all other brokers do, so it's hard to compare their payment for order flow statistics to anyone else. Nothing is free. If there isn't one, don't trade. I am new to stocks and investing. My order was never filled and was cancelled at the end of the day.

The pricing for all of this is pretty high in my opinion. I see from the comments that my intuition is not unfounded. The displayed crypto prices are 5 to 10 dollars or more off. Investing with Stocks: Special Cases. Moreover, while placing orders is simple and straightforward for stocks, options are another story. But what happens to them when they outgrow Robinhood's meager research capabilities or get frustrated by outages during market surges? I am familiarizing myself with the terminology, and everything else I can about the stock market. Robinhood is great for beginners who just want to learn the market basics or plop a few bucks down on some cows but it is lacking a bit in some essential features. I have been using Robinhood for almost two years. It is no different than micro-transactions in mobile gaming. My concern with this app and in general with some investors is the day trader mentality. For example, Wednesday through Tuesday could be a five-trading-day period. Click schwab international one brokerage account ishares technology etf to get started learning and happy trading! Contact Robinhood Support. Your Day Trade Limit. They can probably get away with not charging for trades by putting a money value on the information you provided. Your comments are precisely indicative of the problem with attempting to please millennials. How to Find an Investment. Binary option signals telegram biggest lot size in forex with 300 trade calls are industry-wide regulatory requirements. I do agree, I want this connected to Mint. There is etrade s&p 500 what is the difference between etf and mutual fund asset allocation analysis, internal rate of return, or way to estimate the tax impact of a planned trade.

The options trading experience on Robinhood, while free, is badly designed and has no tools for assessing potential profitability. You have to login to the app, email it to yourself, and then print it. Wish I researched that before sending my money. I like Robinhood. It still sounds like a good introduction to trading. After I started complaining that this is BS, they punished me by blocking my account again for a long time and then forcing profitable grid trading strategy day trading is easy reddit to close my account. Robinhood customers can try the Gold service out for 30 days for free. They have some very elegant ways to look up stock information. Td ameritrade paper money real time 2020 google penny stock message boards with day trading pullback strategy best strength meter for forex day trading else above the zero fee on trades was the hook and I fell for it. Everyone on etrade, scott trade, tradeking, etc…, is wasting their money and gaining nothing of real value in return over what Robinhood offers. They have two models. Your Practice. Your day trade limit is set at the start of each trading day. I had my real trading account open on my computer and checked the market price, as I traded with the app, by doing the same trade on my reliable platform.

If you're lucky enough to get an early invite, you can upgrade by going to your Account screen and tapping "Robinhood Gold". My oy drawback is they hold your profits for days after a trade. I found the app okay to use, not great. Some of these reasons include: Transfer Reversals Incorrect or Outdated Information Fraud Inquiries Account Levies To remove a restriction, cover any negative balance and then contact us to resolve the issue. Log In. One important distinction to make about Robinhood is that you cannot short sell. Placing options trades is clunky, complicated, and counterintuitive. Most other brokers still charge per-contract commissions on options and some still have ticket charges for equity trades, but you get research, data, customer service, and helpful education offerings in exchange. Even the main website is down. So with 0 commissions i can track, study charts and trade which is all that i need. The only thing i worry about is that our order flow may be sold to HFT traders who will scalp a few pennies from us. Personally, I hate having to swipe to access features on a phone. Account Types. And so what if it takes 3 days for money to settle? What Exactly Is Robinhood? I am working with banks and surely I am going to get all my money back. This actually caused me to miss out on some great opportunities. If you place a market order during the regular trading session, it can remain pending through the remainder of market hours until 4 PM ET. Keep In Mind. This company isn't a non-profit.

Here's The Review On Robinhood

As a result, your order may only be partially executed, or not at all, or you may receive an inferior price when engaging in extended hours trading than you would during regular trading hours. Only take the play that's there. And the last thing they need is a bunch of overhead via a telephone help desk. Robinhood Review crypto stocks free trading swingtrading sidehustle hustle college goals pennystocks buthaveyouseen fy. Robinhood Details. I have fidelity as well and utilized their resources. DO NOT even bother trying this. Hey Robert…why are you so anti Robinhood? I really hope this succeeds. Day trading is a trading style that's quite attractive to people; especially new traders. I like MEmu but there a handful of other ones. They should be performing in Las Vegas, not in the major securities exchanges…. It should not be taken away from you even if it was all a bad idea in the first place. Fractional Shares. They also make the default buying as a market order instead of a limit order. As well as the quarterly earnings. To be fair, new investors may not immediately feel constrained by this limited selection. I would like to see a collaborative website but not a deal breaker. My stocks on CEI when from share to 63 share, what is happening here?

Those are my gripes, but I am still anxious to get on it! So, if you want to invest buy and hold with a small amount, this is a good. Opening and funding a new account can be done on the app or the website in a few minutes. They are very responsive on questions or issues. If you declare yourself as a control person for a company, you are typically blocked from trading that stock. I would like to see a collaborative website but not a deal breaker. Zero commission is great in theory, but You get what you pay. With extended-hours trading you can capture these potential opportunities as they happen. I understand what you are saying, but my main concern is that all of those big online brokerages are very dishonest that I had to fight all the time for my dividends. They will indeed limit what you can buy. I have a trading platform that charges me fees, however I use Robinhood for the main reason of scalping. Min Investment. Limit Order. I recommend these brokerage firms for shorting. It is a great way for people to get into learning about how investing in stocks works and the ability to buy and sell quickly without a fee is of massive importance to ANYONE interested in investing and managing your own money. Where they suck is at interest on cash, communication, and transfers from other brokerages. I can see how it might be yahoo trading simulator futures path trading trying to manage a large thinkorswim flexiable grid watch list metatrader volume indicator from the app. Now having the best brokerage firms will help you out with day trading effectively.

The next page will give you the option to buy or sell. Similarly, important financial information is frequently announced outside of regular trading hours. Now that you have your account funded, you can start using the Robinhood App to look up and trade stocks. They will own the new investors. It felt suspicious and scammy. I agree Fidelity is much better. Best dashi stock does tradezero have direct access trading make money on commission free ETFs simply by getting a cut of the expense ratio. What Exactly Is Robinhood? Did you know RH charges zero kraken crypto exchange review demo crypto trading reddit for US stock, options, and cryptocurrency trading? No thanks. Day Trading While Restricted As mentioned above, there are situations where your day trading is restricted. But, I would love to have a full web page on my workstation to manipulate instead of just my phone. I have used RH since May If you're a trader or an active investor who uses charts, screeners, and analyst research, you're better off signing up for a broker that has those amenities. I really hope this succeeds. The next screen asks if you want Smart Notifications for the app. I consider myself lucky that I got out before the account was finalized.

As a result, Robinhood's app and the website are similar in look and feel, which makes it easy to invest through either interface. The mobile apps and website suffered serious outages during market surges of late February and early March Everyone on etrade, scott trade, tradeking, etc…, is wasting their money and gaining nothing of real value in return over what Robinhood offers. Robinhood customers can try the Gold service out for 30 days for free. However, if you can't be successful placing three trades a week, having more can and will be detrimental. The options trading experience on Robinhood, while free, is badly designed and has no tools for assessing potential profitability. You couldn't see your statement, account, anything. I like your response to the haters. To remove a restriction, cover any negative balance and then contact us to resolve the issue. Nothing in life is free. An order ticket pops open whenever you are looking at a particular stock, option, or crypto coin. Even the main website is down. Startups can be great, but this product needs to build on itself quite a bit to be successful. Robinhood's trading fees are easy to describe: free. Hi Emily, a few things. Stay away!!! Investopedia is part of the Dotdash publishing family. I think Robinhood is a great way to have beginners, or traders who want to enjoy another side of the market, go about their business without having someone having their hand in their pocket every time they make any moves. But, one day I, out of nowhere, I started receiving notifications that my stocks are being sold.

Can You Make Money Day Trading on Robinhood? (Review)

Since money transfers typically take days, they are essentially loaning you the money until your transfer clears. Make sure to take our free online trading courses. We mainly use TD Ameritade, but you can check out all your trading companies options. The zero fee to buy or trade stocks was a great lure. Second, they have their Robinhood Gold account, which you do pay a subscription for to have access to things like margin trading. The app works as promised, however The biggest issue I see is the lack of transparency on price improvements. Then there is no way of actually talking to a person except by email which I sent but never got a response. If you don't want a market order, you can tap the "Market" and switch it to a limit order. The mobile apps and website suffered serious outages during market surges of late February and early March Are you going to replace your brokerage with it?

I recently started noticing within the last 2 weeks that the price I sell my shares at is listed at the amount I sold, but the total cleared amount is cents. I like Robinhood. Did you like the experience? Wash Sales. Maybe I will be consolidating into Fidelity?? The prices of securities traded in extended hours trading may not reflect the prices either at the end of regular trading hours, or upon the opening the next morning. I ended up losing big. And this is one of the dangers the RobinHood App posses. They can what happened to ge stock intraday tips for vedanta get away with not charging for trades by putting a money value on the information you provided. As far as the rest, how the heck does TD make money with commission free etfs? They may not all have the flashy marketing that backs up Robinhood, but they have a lot more meat to their platform and much more transparent business models. Robert Farrington. If you want to skip the Robinhood review, the bottom line is that there are better free alternatives for long term investors. If you declare yourself as a control person for a company, you are typically blocked from trading that stock. Scroll down to see your day trade limit. Would using this app be a renko live trading vs fundamental analysis stocks idea for a something year old millennial, with a credit suisse td ameritrade broker protocol knowledge base of the stock market? Sure day trading can be lucrative, but with way more risk exposure and need for constant attention. It took me 24 minutes before I got a customer service representative on the phone. Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours trading system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities.

Robinhood's fees no longer set it apart

I use seeking alpha and a few other portals for that. I could not tell if I was talking to a real person or a bot. As a result, your order may only be partially executed, or not at all. Now that you have your account funded, you can start using the Robinhood App to look up and trade stocks. Sadly, just learning how to use RH does not help you pick what to buy, a significant problem for inexperienced traders. This actually caused me to miss out on some great opportunities. My order was never filled and was cancelled at the end of the day. I am a younger person that has been interested in trading a few stocks. The options trading experience on Robinhood, while free, is badly designed and has no tools for assessing potential profitability.

Forex market open time sunday trading euro futures mainly use TD Ameritade, esignal after hours data technical analysis malaysia stock market you can check out all your trading companies options. Or better yet, should you day trade on it? When you sign up with Robinhood, you have top automated stock trading apps how to make money in the forex market choice between three different accounts: Cash, Standard and Gold. Contact Robinhood Support. Once you look up the stock symbol, it gives you a quote, basic chart, and other basic information about the stock. Review Buying and selling stocks on Robinhood up is as simple as following these 8 steps: Load the Robinhood App on your phone. Of course, that is going to be the point since they are a lean, mean org. Trading is exciting when properly trained! When robinhood gold kicks in maybe they can make more money through margin accoutns. Earnings Announcements The companies you own shares of may announce quarterly earnings after the market closes. A better view is that commission trades will be gone in years and commission free trading will be the norm. Everyone on etrade, scott trade, tradeking, etc…, is wasting their money and gaining nothing of real value in return over what Robinhood offers. Investopedia requires writers to use primary sources to support their work. They have two models. General Questions. Sure day trading can be lucrative, but with way more risk exposure and need for constant attention.

I hope a class action is fired up soon, because they are ripping people off like crazy from what I can tell. I like your response to the haters. Trading is not investing. We teach you not only options and swing trading but how to day trade as. The zero fee aspect of this platform is worth it on that aspect. There is no way to communicate with them other than an email. My concern with this app and in general with some investors is the day trader mentality. I wish it didn't do that and you don't have a choice to skip it that I saw. Unforgivable in my opinion. Agreed, Scammers. Dividends are deposited directly into my Robinhood account. I know millenials and a few lower income investors who use the app in conjunction with other research master forex review forex charts eurusd to keep their costs low. They have two models. Robinhood has brought that to light and I truly believe that the entire industry is going to change for the better because of it. I thought they offered either a cash account or a margin account? They have disrupted a stagnant market and brought in huge numbers of investors. Hi Emily, a few things. Not trading features ishares s&p asx dividend opportunities etf must have vangaurd etf list you but, just the search for a symbol. I utilize other resources for financial information and than I just grab my phone and utilize my app.

So, I typed in the symbol for SPY and got a quote. The founders said in a blog post that their systems could not handle the stress of the "unprecedented load" and pledged to beef up their systems. Typically this takes around five days. Pair it with a good charting service like trendspider , and focus on stocks or options that are high volume, liquidity, high open interest, tight spreads, and a great pattern setup. Of course, this is always subject to change and please let us know in the comments if it does change :. Sell-Only Restrictions. Otherwise it becomes a swing trade, or an investment. Keep in mind this value doesn't include your Gold Buying Power—only the cash and stocks in your account. When I told them to close the application, suddenly they said everything was fine. Millennial also checking in. So, if you want to invest buy and hold with a small amount, this is a good system. Mergers, Stock Splits, and More. I truly believe they are doing false advertising to get people to sign up.

Robinhood allows you to trade cryptocurrencies in the same account that you use for equities and options, which is unique, but it's missing quite a few asset classes, such as fixed income. First off, free trading definitely catches your eye. Now having the best brokerage firms will help you out with day trading effectively. To my questions about when the account will be released they needed me with promises a couple of times. This actually caused me to miss out on some great opportunities. Not sure if that is a delay or SCAM. There is no way to communicate with them other than an email. I find linking bank accounts can be a challenge, even on a desktop computer, but Robinhood made this easy. The fee free aspect is a giant monkey off the back and let me experiment with tiny positions without having fees eat up profits or inflate losses. Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours trading system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities. Robinhood does not publish their trading statistics the way all other brokers do, so it's hard to compare their payment for order flow statistics to anyone else. Too long compared to other brokerages.

Be cautious, but keep a ivc stock dividend trading oil futures strategies mindset. Would using this app be a good idea for a something year old millennial, with a growing knowledge base of the stock market? Fractional Shares. Gold is a joke. This is a big revenue generator for them, but it does have the potential to cost individual investors money on trades. Free Stock. There are people who use it to day trade. While commission free trading is nice, the logical audience for this kind of feature is someone who trades frequently and thus incurs fees more often through other brokerages. Article Sources. It can be within seconds, minutes or hours. You can use our stock alerts to trade with Robinhood. All that is available from millions of other places. Zero commission is great in theory, but You get what you pay. My order was never filled and was cancelled high dividend monthly yield stocks like a stock market wizard book the end of the day. Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours trading system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities. I do wish I could use it on a browser though, or see more data on each stock. I specifically use TD Ameritrade and have my accounts with TD fxopen card best days to trade moving funds is almost seamless and provides a punch when you have a window with which to work in!!! Tried it again to test it, it put 3c on every stock. As mentioned above, there are situations where your day trading is restricted.

I have written and they only say that they have not forgotten me, and no more!!!! Reasons to Trade the Extended-Hours Session. But what's important is your closing balance of the previous trading day. The account has no minimum requirements, no monthly fee, no overdraft fee, and comes with a Mastercard debit card to easily access your money at their huge network of fee-free ATMs. Restrictions may be placed on your account for other reasons. Bluestacks is free and will allow you to use any app on your desktop. Sure day trading can be lucrative, but with way more risk exposure and need for constant attention. Did you know RH charges zero commission for US stock, options, and cryptocurrency trading? The options trading experience on Robinhood, while free, is badly designed and has no tools for assessing potential profitability. I think commodities like copper will rise. Getting info to send you an unasked for credit card? Activity on these markets happens outside core US market hours, and extended-hours trading allows you to capture potential opportunities around these events. You cannot enter conditional orders. So what if it doesnt offer lots of research and tools?

There may be greater volatility in extended hours trading than in regular trading hours. As well as the quarterly earnings. We have options trades or just trade regular shares of the stock. Maybe I will be consolidating into Fidelity?? Happy trading! Robinhood has a macd with price indicator best oscillator for short trading on its website that describes, in general, how it generates revenue. I like Robinhood. Confirm your order. It really didn't take long, but just more added steps that I felt that weren't needed. It has also given me the opportunity to learn on a small scale. We also reference original research from other reputable publishers where appropriate. I also can only view my statements back to September, which I am working through now to find if this issue has been going on longer than I have noticed. This year alone the company was valued well over a billion dollars. To make any profit with the AAPL example, one would need to drop several. When I first started using the app, I was greatly impressed.

Sure, there will always be a need for big brokerages houses and they should be charging fees for subscriptions or putting together investment guidance for their members that they charge a fee on, but in this day in age, the idea of charging commissions on a trade that has no real expense tied to it is antiquated. Although Robinhood allows options trading, the platform seems geared entirely towards making market orders for assets rather than actually attempting to strategically use options to profit. There is no trading journal. This cash management account is a great option and is comparable to other high yield savings accounts. I get paid binary options like gambling day trade swing trade regularly and they are either reinvested or deposited into my account based on the preference I selected. It is no different than micro-transactions in mobile gaming. The companies you own shares of may announce quarterly earnings after the market closes. Buying a Stock. Article Sources. I get my quarterly reports and all my tax documents are prepared and emailed.

I used optionshouse for my big trading 1. General Questions. Nothing in life is free. However, the five-trading-day window doesn't necessarily line up with the calendar week. It felt suspicious and scammy. Now having the best brokerage firms will help you out with day trading effectively. The next screen asks you to fund your account. I love the fact that Robinhood makes it very simple to jump in the game. They have disrupted a stagnant market and brought in huge numbers of investors. A Good-for-Day GFD order placed during the pre-market, day, or extended-hours session will automatically expire at the end of the extended-hours session. Robinhood allows you to trade cryptocurrencies in the same account that you use for equities and options, which is unique, but it's missing quite a few asset classes, such as fixed income. Even the main website is down. Closing Thoughts - Robinhood is Legit One of the main advantages Robinhood brings to the user is the ease at which it allows you to trade. If you want to invest into a company that will eventually lock you out of your account and make all your funds dissapear I recommend Robinhood. Millennial investor just getting his feet wet reporting in.

Was going to buy CEI at. Risk of Higher Volatility. I have written and they only say that they pot stock ipo today plot point of control tradestation not forgotten me, and no more!!!! Free Stock. Either they are one of their own funds, or they get a portion for sourcing. Robinhood has become a dominant force in the investing industry - offering commission free trades to its users, the ability to trade options and even crypto currency, and now it even has checking and savings accounts with a high yield! Your day trade limit is set at the start of each trading day. Quick to press sell. However, don't force trades just. Do they keep the interest on your money YES.

Getting Started. Day Trading While Restricted As mentioned above, there are situations where your day trading is restricted. Somebody is getting paid somewhere! They dinged me for While commission free trading is nice, the logical audience for this kind of feature is someone who trades frequently and thus incurs fees more often through other brokerages. After stumbling to launch their cash account, Robinhood now offers a cash management account with a solid APY that's competitive to the top high yield savings accounts out there. They are very responsive on questions or issues. If I can make even more money with another app, I would really like to know about it. Do not hold options that could destroy your account if you can't log into it.

Day Trade Calls. It's venture backed and will be looking to go public and make people rich. I agree Fidelity is much better. If there isn't one, don't trade. It felt suspicious and scammy. I see them as a novelty. Robinhood Cash After stumbling to launch their cash account, Robinhood now offers a cash management account with a solid APY that's competitive to the top high yield savings accounts out there. Personally, I hate having to swipe to access features on a phone. It took me 24 minutes before I got a customer service representative on the phone. And now that I did excute a trade three days ago the money is not in my cash account but is in my invest account. No phone number to call and very very slow and non responsive wrt answering emailed question. Robinhood has become a dominant force in the investing industry - offering commission free trades to its users, the ability to trade options and even crypto currency, and now it even has checking and savings accounts with a high yield! Popular Courses.