This language if specifically for margin accounts. A margin account is a special account that allow an investor to borrow money to purchase stocks. The investor then has a grace period before receiving a 'margin call'. At that point the loan must be repaid. If it isn't then, and only then, can the brokerage liquidate assets in order to repay the loan. This is completely different from limiting or selling off assets that an investor has purchased free and clear.
No fraud. Read the fine print. It's right there in black & white.
Are they screwed? Yeah, probably, in the short-term. Their 'sherwood forest' clientelle will most likely dump them. What will the fair hair children of Wall Street do? Incorporate another platform, or some other less than honorable endeavor and get right back to work screwing WeTheInvestors.
This language if specifically for margin accounts. A margin account is a special account that allow an investor to borrow money to purchase stocks. The investor then has a grace period before receiving a 'margin call'. At that point the loan must be repaid. If it isn't then, and only then, can the brokerage liquidate assets in order to repay the loan. This is completely different from limiting or selling off assets that an investor has purchased free and clear.
You're right, that's still hella fucked up though
Money you deposit = your control. Stocks you buy with money you deposit = your control. Anything you do with margin = their control.
So much for suing the pants off of of 'em.
Fine print; it's alwyas where the KY is to be found.
No fraud. Read the fine print. It's right there in black & white.
Are they screwed? Yeah, probably, in the short-term. Their 'sherwood forest' clientelle will most likely dump them. What will the fair hair children of Wall Street do? Incorporate another platform, or some other less than honorable endeavor and get right back to work screwing WeTheInvestors.
Citadel does not own Robinhood, but they do have a financial relationship (Citadel Securities pays Robinhood for order flow).
https://www.truthorfiction.com/does-citadel-own-robinhood/
Yea, they don't own them, they just have a 40% financial relationship with them