Interesting case for HOOD. I have a small position in SCHW (Schwab stock) and have 7 figures in my accounts with Schwab.
I don't know how that research firm can come to the conclusion that HOOD has better branding as a customer advocate. The two things I know (still an opinion statement) about HOOD are that they disguised commissions in order execution and they took actions that I consider market manipulation. In my opinion, their executives should be sitting in small cells and banned from the industry for life.
I suppose there is one more thing. They took those actions to move market prices specifically to disadvantage their own retail clients for the benefit of a hedge fund. That's my opinion on it. I can't say it as a fact because of our legal system, but it sure looked way to me.
On the other hand, Schwab's service is so good that I contact them to ask if they can provide other services for me. I am happy to do business through Schwab. When their stock plunged on the regional bank crisis, I threw some cash in. One reason was because they looked cheap, but another was because I was fighting against the shorts that wanted to create the panic to create a bank failure.
I'm not a fan of Schwab ending Street Smart Edge, but I like everything else about them.
When someone says they are opening an account at HOOD my gut response is simply: "You stupid?"
Note: I haven't owned any of the meme stocks. I just don't care for crappy businesses that fight against their own customers.
Interesting case for HOOD. I have a small position in SCHW (Schwab stock) and have 7 figures in my accounts with Schwab.
I don't know how that research firm can come to the conclusion that HOOD has better branding as a customer advocate. The two things I know (still an opinion statement) about HOOD are that they disguised commissions in order execution and they took actions that I consider market manipulation. In my opinion, their executives should be sitting in small cells and banned from the industry for life.
I suppose there is one more thing. They took those actions to move market prices specifically to disadvantage their own retail clients for the benefit of a hedge fund. That's my opinion on it. I can't say it as a fact because of our legal system, but it sure looked way to me.
On the other hand, Schwab's service is so good that I contact them to ask if they can provide other services for me. I am happy to do business through Schwab. When their stock plunged on the regional bank crisis, I threw some cash in. One reason was because they looked cheap, but another was because I was fighting against the shorts that wanted to create the panic to create a bank failure.
I'm not a fan of Schwab ending Street Smart Edge, but I like everything else about them.
When someone says they are opening an account at HOOD my gut response is simply: "You stupid?"
Note: I haven't owned any of the meme stocks. I just don't care for crappy businesses that fight against their own customers.