r/investing Apr 29, 05:42 PM
How Good Is Robinhood For Big Portfolio Amounts (>1 million USD)? I have been investing/trading with options, margin, passively (for a while, especially holding TSLA between September 2019, the month I turned 18, after believing TSLA stock and Elon Musk's net worth at 20 billion was criminally undervalued given his jargon and innovations, and November 2021), and have several years of experience with stock brokerages like Fidelity, E-Trade, Vanguard, Merrill, TD Ameritrade, Schwab, IBKR, Webull, and Robinhood, and crypto exchanges like Kraken, Binance, and Coinbase. Prior to 2019, I have at least a few years of experience in paper trading. I have amassed a formidable fortune from these exchanges, and even though my primary stock brokerage is Fidelity and my primary crypto exchange is Kraken, I have been contemplating for a while on whether I should switch to Robinhood. My 31 year old truck driving cousin (who dropped out of ACPHS after 6 years and amassed a 300k debt despite having a decent 3.5 GPA and is one year away from finishing his PharmD+Business combo due to his lack of interest in pharmacy) has advised me to switch to Robinhood, stating that you can do crypto (even if there are less coins than Kraken or Coinbase), stocks, and options at the same time. I have heard that Robinhood started offering discounted home mortgages via Robinhood Gold, and many more perks, and therefore, I have been contemplating on whether I should move there or not. Even though many accounts on Robinhood have under $100k, I am kinda curious on how Robinhood even deals with 7-8 figure portfolios (1 million to 100 million) if it is even worth it or not.
submitted by /u/MussleGeeYem
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