Key insights
- The post discusses the user-friendliness of Robinhood versus Schwab for managing a custodial account. While Robinhood's UI is preferred, concerns exist regarding its past actions (GME) and perceived oversimplification. The potential negative impact on US equities is slightly bearish, reflecting concerns about retail investor behavior and platform risks, but is limited due to the specific user context.
Hi!
My mom currently uses Schwab to manage my custodial account but she doesn’t really understand the UI. I took a look at her thinkorswim and it also looked really confusing to me.
I saw that Robinhood has a noticeably better UI that she likes better, but I noticed people online discussing about how Robinhood is horrible.
From reading those posts and comments, I’ve come to the conclusion that Robinhood is bad because of the GME issue (2021) and it being “too simple” to actually be usable. From what I’ve read about GME, it also happened to other companies like Schwab too so it wasn’t just a Robinhood thing. It being “too simple” is not a concern for us as long as there’s a chart and we can buy and sell.
Are there any other ways that Robinhood is bad? Do they randomly lock accounts or something?
Thanks!