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Showing results for tags 'robinhood'.
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So far it appears Turbo Tax will first want me to connect Binance.us to Coinledger ($100+ and 4,000 trans limit) and then also to Turbo Tax ($100) just to get the info calculated and reported correctly. Not sure if Tax Act will connect directly with Binance.us and calculate the capital gains correctly yet. If I were you, to avoid this major end of year tax headache, avoid trading until they start sending out consolidated 1099 reports like Robinhood and M1 Finance do. Robinhood really simplifies this trade reporting headache for the average dude. -
Does anyone have any experience using Robinhood app for stock investing? Do you like it? What don't you like about it?
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https://www.cnbc.com/2021/07/01/feds-seized-robinhood-ceos-phone-as-part-of-gamestop-trading-probe.html Robinhood CEO Vlad Tenev’s phone was seized by federal attorneys in one of the stock-trading app company’s many legal battles, it revealed in its IPO filing on Thursday. In a section outlining legal risks from investigations and subpoenas, the company noted that “a related search warrant was executed by the USAO to obtain Mr. Tenev’s cell phone.” Here, “USAO” refers to the United States Attorney’s Office for the Northern District of California, which was investigating Robinhood’s restrictions on trading during the meme stock flurry around GameStop and other stocks early this year. -
Yesterday: Robinhood fined $70 million for harming millions of investors. Today: Robinhood reports that 34% of its crypto revenue comes from Dogecoin trading.
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I am starting to think that the pattern day trader Rules at brokerages implemented by the SEC is actually not to protect the small investor but to ensure that small investors STAY SMALL. One could also make the assertion that they are inherently racist since the reality is that there are many poor ethnic minorities that won’t be allowed to do simple small trades based on the fact that they don’t have $25,000 to start out with. Anyone have any more insight into these rules?
