http://feedproxy.google.com/~r/zerohedge/feed/~3/VOsekMMjXiM/angry-robinhood-traders-unleash-tsunami-complaints
Robinhood's quick rise to the top of the brokerage world hasn't come without speedbumps. To wit, US consumer protection agencies are being flooded with complaints about the app. In fact, four times as many complaints are being filed about Robinhood than other traditional brokerages like Schwab and Fidelity, according to Bloomberg; in 2020 alone more than 400 complaints have been lodged against the "free" daytrading app.
The complaints have featured "novice investors in over their heads, struggling to understand why they’ve lost money on stock options or had shares liquidated to pay off margin loans."
Complaints were also filed when Robinhood's app went down for a full day back in March during the beginning of the coronavirus pandemic. Users complained about losing money and not being able to sell holdings (in retrospect, they should be praising the company for preventing them from dumping just before the Fed nationalized the market and sent the S&P 61% higher from the March lows). They complained about not being able to make money because the app was down. A legitimate grievance: no phone number, or direct contact at Robinhood have been listed, probably because the company still can't afford a client-facing support team.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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