It’s still beyond fucked. It’s semantics to say that they own them or you own them if ultimately it’s your money on the line. If it’s your money, you should get the control, not them.
There still has to be some sort of consumer law that makes there actions illegal. From what you just said, it defeats the purpose of even having a trading account with them. If i have an account with someone, all of my information is protected unless authorized to make changes. In the media and banking world they call it CPNI. Consumer Proprietary Network Info.. Credit cards and banks have to use this same guidelines as well.
From my understanding using Robinhood, you never actually own the stocks. They own them.
It’s still beyond fucked. It’s semantics to say that they own them or you own them if ultimately it’s your money on the line. If it’s your money, you should get the control, not them.
There still has to be some sort of consumer law that makes there actions illegal. From what you just said, it defeats the purpose of even having a trading account with them. If i have an account with someone, all of my information is protected unless authorized to make changes. In the media and banking world they call it CPNI. Consumer Proprietary Network Info.. Credit cards and banks have to use this same guidelines as well.
Doesn't matter at this point. Everyone's run for Webull and CashApp.
Webull is chinese owned.
Cashapp is owned by Square, which is owned by Jack Dorsey.
Now go read the mandatory arbitration clause in your brokerage account .
Screwed is one word for it.
I know right. People only have what they do because a bunch of rich people say they can have it. I fear it is only going to get worse.