A month ago I left the Robinhood app behind after several outages. It was right before the market’s COVID 19 drop, where a number of investors were trying to make moves. Both the Robinhood app and websites could not handle the traffic, and it resulted in a number of users unable to buy or sell stocks. And after the problem happened again a day later, I cashed out my stocks and moved my investing over to TD Ameritrade.

It looks as if the Robinhood owners are raising funds, possibly to improve their servers. According to Bloomberg, a source says Robinhood is raising $250 million dollars. This is a big step that I wish Robinhood well in. Though I moved my investing over to TD Ameritrade, there is a lot about the Robinhood app that I miss. Though TD Ameritrade allows more choices in investing, such as being able to invest in index funds, ETFs, mutuals, foreign, and domestic stocks, Robinhood still manages to be the fastest in allowing traders to just get in and start trading. The ease and speed to get started changed the game in a number of ways. More people were able to invest and learn about the market by getting started with as little as $5. This simplicity and ease are why millenniums turned to Robinhood in the first place. Here is to hope Robinhood can get their server issues fixed. I look forward to being able to switch back when that happens.

Are you still using Robinhood or did you switch after the server problems?

Source: Business Insider

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