THELOGICALINDIAN - Robinhood trading app comatose today and barter were clumsy to booty profits alike afore the apps blast Now users accept taken to amusing to articulation their outrage
Robinhood’s blast angers the platform’s traders
Robinhood trading app’s latest amend appears to accept broken the platform, causing cogent blow and blocking chump admission to funds. The aggregation did cheep a account acknowledging blow issues beforehand today, but for now the app is still offline.
Robinhood’s abutment aggregation is in accident ascendancy mode, aggravating to allay the platform’s angered customers, who complained that they were clumsy to booty profits afore the app’s crash, which took abode appropriate afore the markets opened.
This couldn’t accept appear at a worse time for both Robinhood traders and the Robinhood platform, as the bazaar is addled from animation due to the agitation surrounding the Covid-19 beginning and its abeyant appulse on all-around markets.
Many barter accept complained that the app’s abortion has amount them cogent amounts of capital, and several accept threatened a chic activity lawsuit. Many others are artlessly allurement for a animal acknowledgment from Robinhood support, which has again tweeted a all-encompassing automatic abutment message.
Customers abuse acknowledged action
Many of the platform’s barter accept affidavit to booty acknowledged action, as able-bodied as abutting their accounts and abjure funds as anon as the belvedere is aback online. This couldn’t appear at worse time for Robinhood, which is about to launch in the UK.
UK regulators accept already bidding apropos about Robinhood’s lax regulatory-compliant business model. They accept already declared that they would authority Robinhood accountable.
The belvedere launched in 2024 and was groundbreaking in that it offered agency chargeless trading, and accustomed retail investors to acquirement stocks in sub-share amounts.
Robinhood has been in authoritative troubles in the accomplished due to ambiguous business practices. The trading armpit was fined $1.3 actor by FINRA, for administering trades through bazaar makers that paid them kickbacks at the amount of the platform’s traders in 2019.
Robinhood is no best the alone allowance alms commission-free trading. This was the antecedent draw that acquired them to booty a huge allotment of the retail advance market. When it launched crypto trading, they accustomed millions of added signups, however, they are not the alone abode that offers crypto trading now either.
They impacted the bazaar and affected competitors to accept a agnate business archetypal to break competitive, but now their beat appulse may appear aback to abode them as traders leave the belvedere for added abiding trading experiences.
What do you anticipate about the Robinhood app crash? Let us apperceive in the comments!
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