Interesting article in FT today.
Robinhood has been accused of blurring the boundaries between an easy to use customer interface and gamification, which encourages trading with email alerts and in-app prompts encouraging customers towards more complex, higher-risk investment products. When trades are completed on the platform, customers are sent emoji-laden messages prompting them to purchase additional shares…
The complaint singled out one customer that the regulator said had no investment experience who made 12,700 trades within a six-month period.
I figure that is about 100 trades per weekday.
I am interested in how that’s even possible. Don’t you get flagged as a Pattern Day Trader in the US after 3 or 4 trades within a certain time frame and your trading abilities are temporarily suspended?
I think as long as you have $25k+ of funds you can go nuts.
Even with less. I read stories of young investors funding 2000 USD and trading nuts with options. I wonder if they have some sort of protection like we have in Europe. Watchdogs protect retail investors by not letting them blindly use complex trading instruments.
that is amazing in a way I honestly did not expect
who wants to try and beat that record??