I was part of the original batch of users when Robinhood was first teased online. Back then zero commission trading was unheard of. As a 21 year old trying to buy Tesla, logging into Scotttrade and paying commissions every single time felt like a huge barrier. Robinhood completely changed that and honestly changed the whole industry for the better.
But the app today feels very different. It has turned into a so called “super app” that constantly pushes Gold, nags you to roll over retirement accounts, and adds features that feel more like gambling than investing. The contract trading section especially just seems predatory.
I stuck with Robinhood through everything. I was not even mad during the GameStop Citadel mess when trading was locked. I defended them and even made YouTube videos back in the day recommending Robinhood to beginners.
This morning I finally moved everything to Fidelity with an ACATS transfer. I also signed up for their 2 percent cash back credit card and will funnel the rewards into index funds. At this point it just feels like the smarter move for where I am now.
Not trying to convince anyone, but after nearly a decade it feels like closing a chapter. Maybe I just grew up.
Edit: Wow, I didn’t expect so many Robinhood fans to chime in. To be clear, I was a fan too! The app just doesn’t sit right with me anymore. I’m not doing anything fancy like options these days. I’m a pretty passive investor now, mainly just buying two companies through my brokerage since my other accounts are already handling the index fund side. Really appreciate all the perspectives though. And yeah, I have to admit the Fidelity app and website feel a little old school, but hey… at least it’s better than Vanguard’s lol.
Finally leaving Robinhood after a decade
byu/rickthemovie instocks
Posted by rickthemovie
41 Comments
i use robinhood and schwab with thinkorswim personally, and trendspider for scanning etc. i honestly think robinhood is still one of the best brokers out there, yeah they are adding lots of features that promote gambling but i wouldnt say this makes them necessarily bad. i wouldnt want them to be my only broker thought thats forsure, i like the uninveted cash % APY and the simplicity of it for just swing trading and investing, but my actual strats i run on thinkorswim
Was this written by a bot from Fidelity? 😂
The Fidelity app is horrendous and gets worse with each update.
Fidelity’s app and website are straight out of the Nokia era
Good luck. Using Fidelity is like trading in 1998.
Fidelity mobile trading sucks. Try opening multiple legs in options. You’ll be back in Robinhood by the end of the day.
Robinhood is easy to use but as a company it is one of the shadiest and least honest ones out there. I keep the bare minimum in there just to track easily but I moved everything to Fidelity years ago. Had a TDA account because I liked ToS for charting but after the Schwab merge, they liquidated some of my positions without my knowledge to cover the transfer fee so now I won’t touch them
Idk man I just ignore the casino aspects. $210 match on IRA is free money and if they keep that benefit it’ll add up to thousands of dollars over the years. 4% APR on cash is great too, zero effort to make money on cash on the sidelines.
I also have a fidelity account and meh, whatever. App and website have sucked the entire 10 years I’ve been a customer.
For me, I’ve always used Fidelity because I don’t want all that gamified UI. Admittedly, I’ve never tried Robinhood. Also admittedly, the Fidelity website is crap and the app is only very slightly less crappy. But it does everything I need it to. I dump money into index funds and have the 2% card to roll into index funds. I mean the website could definitely use some polish, but the rickety early 2000s website vibe also keeps me from checking all the time.
So many comments bashing fidelity for their app usability (valid concern, sure), while Robinhood is literally one of the most predatory and scumbag trading apps out there. You did well, Fidelity has a super solid track record as a broker/company, and it is surely the more serious of the two. I recon that you won’t be back, contrary to what a bunch of people here are suggesting.
Am I the only fan of IBKR? They’ve been great for me.
Feeling like you are with someone in respect of matters of importance people tend to find comfort in. Same reason we come here. Focused engagement is the selling feature over other choices.
[removed]
You didn’t grow up, Robinhood grew up. Like a lot of start ups it prob had a good intention (hence the name). But as it gains traction and gets bigger, shareholders demand results. Inevitably became any large corporate entity that only cares about the bottom line. Don’t worry another Robinhood will come about and history will repeat itself.
I dumped Robinhood when they blocked trading on Game Stop
Great post! I’m actually thinking about switching over to Fidelity as I have my 401k living with them. How difficult is it to switch over? Could you breakdown how you transferred your funds? Advanced thank yous!! 🤝
Etrade is excellent, especially Power etrade.
Robinhood has been amazing for me
Idk about yall but having a promoted Robinhood_app comment at the top of this thread is so funny to me
Once robinhood’s CEO bragged the majority of their code is AI generated, I bailed. Having used many shitty AI tools, I can’t imagine a financial institution doing so. Im sure it’s just the UI and the backend is safe, but there’s also a million other reasons to jump.
I use both Robinhood and Fidelity and treat Robinhood as my ‘gambling’ platform and Fidelity as my more serious investing platform. Robinhood feels more like a game while Fidelity feels like I’m actually strategic. I think you’re right leaving Robinhood. As a side/funny note, my investment performance is way better on Fidelity.
Old school Schwab bought TD Ameritrade to get the ToS platform.
I was a RH user from 2015 until 2024. I used etrade, fidelity, and webull. I use webull now for options only. No one competes for that. I had things I liked about RH, but I felt like market orders ALWAYS filled above market by enough to set me in the red each purchase. I often fill a market order at the bottom of the candle in webull. Fidelity sucks, but I have my million in max yield etfs stashed there in the wros account I can share with my wife. Webull is very refined, RH is to get the ball rolling for millions of users
ummm any comments on algo trading apis like alpaca here lol.
What two companies are you investing in ?
My only wish is some of these other trading apps we’re actually user friendly like RobinHood my God some of the apps are just junk like Morgan Stanley/ etrade just suck
Welcome aboard. I switched to fidelity after Robinhood lost me thousands with the GameStop nonsense. It was unacceptable and I will never forgive them. They can pound sand. I’ve had never once had and issue with anything on Fidelity website or App. They have great customer service and I have IRA’s my main Brokerage, and a little crypto on there. You won’t regret the change.
lol you think buying gold was a bad idea?
Im on fidelity and considering switching to robin hood. Fidelity’s trading platform is seriously atrocious. Is there a reason people say robhinhood is predatory?
Bro your nuts. RH app is awesome and so are their other products.
I bet that bitcoin will not hit 140k by January and my contracts are currently selling for double the value I bought them at. If there are 2 sides to every contract, is it a scam?
Fidelity is the best major brokerage I’ve used and the most forward looking. They are not a Nanny brokerage – they were the first major brokerage to offer Bitcoin ETF. I have no problems with the UI. But, I mostly just buy and hold, so probably I’m not the customer for Robinhood. I definitely think Robinhood is innovative, but I would trust Fidelity more with a retirement account than Robinhood. I also really like their yields in the money market with core positions. No settlement delay.
I do use Robinhood to watch after market quotes.
This is actually really interesting. I find the 3% match in gold and the 3% credit card to give me far more value than the cost of Robin Hood gold, and I was not an original user I was an original roaster of the platform until they rolled out all these robust benefits
They’re trying to become a one stop shop for finance, the good the bad and the ugly. You may not like it but people have a demand for risky investing, they offer it and tools for you to do it. This is a brokerage (imo) that is keeping up with the times. I may not like every new feature but they’re constantly innovating, meanwhile you have OLD money brokerages with UI’s that look 15 years old… not hard to spot which company cares more about you as a consumer.
Fidelity has great mutual funds though. Their bluechip growth fund, technology fund and fotcpx have been done me well over the years
Fidelity has brokerage link account for 401k. Good luck getting those on Robinhood. Other than using it as watchlist, I moved out of Robinhood many years ago.
1. Schwab is the best in all of the ways that matter in a brokerage: trust, reliability, support, features
2. Fidelity is a very, very distant second. I just closed my last Fidelity account and it was the best part of my day.
3. Robinhood tries to game-ify the process so you don’t pay attention to fees, losses, etc. Also, I remember when they paused trading on their customers so billion-dollar companies can save their asses. If you’re a college student who wants to truly gamble on meme stocks and crypto, then go for it. You WILL join a real brokerage once you grow up a little and make a lot of costly mistakes.
Seems like a lot of ppl on here use Fidelity. I use Schwab for my roth IRA and no complaints here.
I like webull
Im still on RH because of the UI alone.
No other app is as easy to use, nice to look at or as smooth. Plus they keep improving. Baffles me how the “adult” traders cant get better looking apps
Not a shill, just a happy user and I hold shares of RH.
Calls on BULL (WeBull)