How u americans think about RH after what they did with GME. Read they not only restricted buying but also forced some people to sell. If true that’s really fked up. Boycott?

Over a month old "news" - OK.

Its not news lol. Just want to know if ppl actually boycott it or if its just talk

I just use robinhood cause the app is perty .
But Trade on fidelity

It’s ok.

Restrictions were based on clearinghouse and forced sales were margin calls. I continue to use RH.

RH, M1 & WeBull all restricted access due to clearinghousing obligations.

This post was edited by S3th on Mar 13 2021 08:17am

RH should have known it was coming and orepared accordingly. This happens with some frequency and they should have taken steps to get working capital before it became an issue.z

As mentioned, it wasn't just RH. Perhaps clearinghouses should have umbrella insurance policies or some type of reinsurance.

The clearinghouse raised the collateral requirements. They didnt say no trading. Robinhood had more than enough information to see this coming and organize a bridge loan to cover it.

Again, this was not limited to Robinhood. Clearinghouses increased the amount of collateral needed above what is normal for those trades. If clearinghouses had some form of insurance/reinsurance they wouldn't have had to increase limits. At the end of the day, it's a business decision to me & if you have issues with your brokerage and/or clearinghouse setting limits, then find another one willing to take on that additional risk.