Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This response makes sense, but still doesn't explain why people with settled cash can't purchase shares, this only explains why unsettled cash couldn't be used. Also, this is a huge problem that needs to be fixed. This basically implies that Wallstreet and Retailers are really in two different markets. One where liquidity is a huge concern and another where it's not. RH should have halted trading on every stock on their platform and admitted they had a huge liquidity issue. Instead they lied and said they were protecting the customer from themselves. Given what we're seeing this was literally bound to happen eventually.
Also...RH is their own clearing house so it's a bit different than Webull, they were just literally illiquid because they ignore the T+2 rules most other brokers use.
This response makes sense, but still doesn't explain why people with settled cash can't purchase shares, this only explains why unsettled cash couldn't be used. Also, this is a huge problem that needs to be fixed. This basically implies that Wallstreet and Retailers are really in two different markets. One where liquidity is a huge concern and another where it's not. RH should have halted trading on every stock on their platform and admitted they had a huge liquidity issue. Instead they lied and said they were protecting the customer from themselves. Given what we're seeing this was literally bound to happen eventually.
Also...RH is their own clearing house so it's a bit different than Webull, they were just literally illiquid because they ignore the T+2 rules most other brokers use.
I’m not sure what the cap requirements are but they can vary by security. If say 40-70%(i have no idea what it is) of their activity was in gme it doesn’t make sense to shut everything down.
I’m not sure what the cap requirements are but they can vary by security. If say 40-70%(i have no idea what it is) of their activity was in gme it doesn’t make sense to shut everything down.
That's fair, it's just a very bad look and they weren't up front about it. They disguised it in a "protecting our customers" play, when in reality their customers are Citadel, so maybe they weren't being entirely dishonest, lol.
But my main point was this was bound to happen eventually. Acting as your own clearing house and not requiring trades to settle and ignoring the T+2 rule was bound to screw them.As an aside, if I'd of known they didn't abide by T+2 I'd have been using them. That's always been what's made me not swing trade with E-Trade. I just didn't want the added stress of a margin account.
Robinhood has published a list of 51 stocks where its customer can only buy 1 share?
how is that going to work?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
