Almost 2,000 RobinHood Accounts Hacked

Trader Curt said:
Any place you buy or sell stocks is an exchange
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Robinhood isn't an exchange.

For example, where can I find all the stocks listed on the Charles Schwab exchange? You are either being obtuse on purpose, or do not understand a great many things.
 
Overnight said:
Robinhood isn't an exchange.

For example, where can I find all the stocks listed on the Charles Schwab exchange? You are either being obtuse on purpose, or do not understand a great many things.
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No, it's an exchange wether you like it or not.

Just because it doesn't have as many features as this charles swabb exchange you speak of doesn't mean it isn't. I can't believe I'm even having this discussion right now
 
BMK said:
My experience in the last six months or so trying to call Schwab has been very poor. Long hold times, and on one call I was unable to choose an option to speak with a live rep until going through an extremely long message about activating "Voice ID," and there did not seem to a way to opt out of it.

Yes, they have a phone number, but I have zero confidence in my ability to reach a live rep when it really matters.

BMK
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My schwab rep answers right away but I'm always calling for admin shit as their platform never fails. I have the trade desk to my other brokers on speed dial and I'm always connected in 30 seconds or less. If your broker doesn't have great service you should leave and find a better broker.
 
1) 2000 accounts were hacked at the same time; and RH also uses two-factor authentication to validate its users, so what's the chance of 2000 2f-authenticated accounts being hacked at the same time? some people messed around with RH's system.

2) one message I have for Chuck; SCHWAB's service + their platform suck (TD is a bit better). Schwab would need to fire their CIO (the company is run by dinosaurs)

3) remember the Mt. Gox exchange?
https://en.wikipedia.org/wiki/Mt._Gox
 
too many people trying to create their own dictionary.

One of the best places to get the correct trading terminology is investopaedia.
 
BMK said:
My experience in the last six months or so trying to call Schwab has been very poor. Long hold times, and on one call I was unable to choose an option to speak with a live rep until going through an extremely long message about activating "Voice ID," and there did not seem to a way to opt out of it.

Yes, they have a phone number, but I have zero confidence in my ability to reach a live rep when it really matters.

And it isn't just Schwab. I am certainly not the first person to make this observation, but every financial institution--whether it's a bank, broker, insurance company or something else--
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This is true, most banks/companies who has a large retail client base has been slowly automating their customer service & support by using IVRs & other digital/online channels and adding tons of automated options in order to reduce customer service Reps. headcounts & thus reduce Opex.

Welcome to the digital age, all with it's pros and cons.

BMK said:
The one advantage to e-mail and messaging is that you get a great "paper" trail of the complete incompetence of some of these support reps.
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You can document phone calls as well. Pretty much every smartphone now have this nice little "Record" button in the phone app, so be sure to use it (If you manage to get hold of real person to speak with). I personally use it all the time.
 
Trader Curt said:
Just goes to show you. Crypto exchanges aren't the only exchanges to get hacked!
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A bit inaccurate metaphor. The structure between Crypto market and the regulated securities market is totally different.

When a Crypto exchange is hacked, it means that both the Broker & the Custodian has been hacked. In the RH case, certain customer accounts were hacked, where hackers got un-authorized access to their RH portfolios.

Neither the securities custodian nor the exchange were hacked, so it makes a difference between the 2 cases, though I agree with you that the outcome to investors is still the same (Losing their investments or funds), but the 2 cases are fundamentally different.
 
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