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What is the general impression of dealing with Robinhood so far?

Has anyone encountered issues of slow customer support or other order filling, etc?

Any recommendations or kudos? I find the IB brokerage tedious but I suspect they are quite secure.

Thanks for anything offered!

5 responses

So far my live trading with Robin hood has been running great. Occasionally the algorithm will stop but all I have to do is log back into Robin Hood again through Quantopian. No problems with order filling or anything.

It's a pain in the ass but you won't find anything better. Once you learn the quirks and program around them it's ok. Jjust remember to check your algo every morning pre-market to make sure it's still connected, especially sunday night/monday morning.

I've only live traded sparingly so far, but aside from the typical Monday morning issues (which are on Robinhood's end), I've had a few issues that could potentially have been trouble if I wasn't actively monitoring. I'm not sure if it is a Robinhood problem or a Quantopian problem, but sometimes, after placing an order, the order will go through on Robinhood, but will show as open or canceled in Quantopian. The blotter then assumes that you basically got this stock for free, and your returns on the graph shoot up by an astronomical amount. The log will show something like "Robinhood reports holding of XX shares in ABC. Adding to blotter". Usually when this happens, I'll sell off one share of whatever transaction was just made, and it'll come back, though the graph is still wildly distorted.

The biggest issue with this is if the order filled, but still shows as open, it prevents further orders from being placed (assuming you reference open orders in your code), which is bad if your algo ends up not executing the formulated exit strategy or misses a stop loss. I haven't done any live trading in a couple of weeks now, but my planned workaround is to add a line that cancels open orders every minute or x minutes.

EDIT: Also, while it doesn't impact anything one way or another, it seems like whenever I start live trading, the logs show a message about not holding any shares of FNCX, removing from blotter. No idea why a delisted penny stock that isn't referenced anywhere in my strategy comes up every single time, but it does.

Yeah...

Like everyone's mentioned, you have to regularly check if the algo has disconnected -- which it typically has by Monday mornings -- and reconnect it.

I had Robinhood not fill an order due to a mistake on their executing broker's side. They sent me an email afterhours saying I could have the stocks at the price I ordered them at (and the price had gone up since), so I responded when I saw the email (within 2 hours) saying yeah that's great, and then they responded like syke, too slow. Not a big deal... but I think they should have honored it.

Support at Robinhood is terrible -- slow to non-existant. In the above instance I responded with a follow-up question, and they just blew me off.

I tried applying for a second account and got in touch with them explaining I needed it because Quantopian doesn't really support running an algo on an account that already has investments, and they blew me off until I tried contacting them again a week later and their response was just no, you can't have a second account, we've never allowed that. I responded with a quote from their support team on a twitter where they state that they do support second accounts and explaining again why I needed it, and they just responded no you can't have a second account. So I asked if they could put me in touch with somebody higher up ... and they blew me off.

Also, be aware that not every security available in Quantopian is going to be available on Robinhood. I've also contacted Robinhood support asking if they will include specific ETFs or stocks that, despite them advertising that they support all US exchange-listed stocks, aren't there. The only time I was successful was because I also got in touch with the ETFs sponsor and they reached out to Robinhood.

Thanks all for you help. I think I'll stay with IB for the time being. It would be nice if Quantopian could hookup with a couple more borokerage choices.