Maybe. You'd be outlawing the ability for the company to exist in the first place, since without the terms of service, the company has no business model.
However when the business model is exploitation of unwitting consumers, that is certainly a problem.
So when they are next in this situation, where a contract is shoved in their face, they actually engage their brain, instead of blindly signing away any agency they may have.
This is how we empower people. Not by coddling them and insulating them from reality.
Further, this pushes back on the contract writers. More smart shoppers means less draconian contracts. It makes room for companies that have higher regard for their customers.
You need government approval to offer stock trading. So, good luck with that. If they shut down a liberal-run app, imagine what they'll do to a conservative-run one.
Smells a lot like a bunch of people who blindly accepted a "free" service, skipped reading the terms of service they agreed to, and then got exactly what should have been expected, if they were only paying attention.
Gee, where have I heard this story before?
Hate to sound like a broken record, but we need to be smarter consumers. Under no circumstances should you follow the herd off the cliff in pursuit of the new shiny service. Do due diligence, read the fine print, do not shop there. Only support businesses and services that respect you. Run far, far away from services who's business model and legalese allows abuse.
They're not your friends and the service is not "free".
The problem is with a free app, it has to sell order flow and the people buying that order flow are the exact same corrupt bastards you don't want anywhere near your app.
Did Some say GAB-Trade ™️
😂😂😂
Yes plz
Blocking Robinhood just blew the doors off the FTC... They have to answer for that, its akin to wire fraud.
Except the RH terms of service allow them to do whatever the heck they want, and every user agreed to it.
Ho hum, diddly dum. Pay attention next time. Don't sign up for services when the terms are not in your favor.
Maybe. You'd be outlawing the ability for the company to exist in the first place, since without the terms of service, the company has no business model.
However when the business model is exploitation of unwitting consumers, that is certainly a problem.
All the consumer had to do was read the terms. It is not rocket surgery.
By clicking agree, they consented that they not only read the terms, but agree to them.
Buyer beware. Stop enabling stupid consumers.
I’m helping educate those very people.
So when they are next in this situation, where a contract is shoved in their face, they actually engage their brain, instead of blindly signing away any agency they may have.
This is how we empower people. Not by coddling them and insulating them from reality.
Further, this pushes back on the contract writers. More smart shoppers means less draconian contracts. It makes room for companies that have higher regard for their customers.
My argument is not that these services are ethical. It is the opposite. They are parasitic trash heaps.
However, you should have figured that out the moment you read the contract. And then declined the service. Instead of clicking Agree.
Stop chasing the shiny new free services off cliffs like lemmings.
Make sure to tell your lawyer that contracts you failed to read don't actually apply.
Then report back.
Next step would be 100 million Trump supporters pulling out all their cash from banks themselves. Lol.
Now that is revolutionary.
If big sibling is watching this website, it is notions like this that are truly the incendiary ones.
The chaos this would cause can not be overstated. Full and absolute collapse.
It is probably an awful idea, but it is an idea alright.
Im at a credit union. F these mega banks
And moving your 401k money to a cash fund. It would tank the market.
Can you imagine the fallout? That would be AWESOME!
You need government approval to offer stock trading. So, good luck with that. If they shut down a liberal-run app, imagine what they'll do to a conservative-run one.
Just don't market it as a conservative run app. Run it like one. Words are meaningless anyway.
Smells a lot like a bunch of people who blindly accepted a "free" service, skipped reading the terms of service they agreed to, and then got exactly what should have been expected, if they were only paying attention.
Gee, where have I heard this story before?
Hate to sound like a broken record, but we need to be smarter consumers. Under no circumstances should you follow the herd off the cliff in pursuit of the new shiny service. Do due diligence, read the fine print, do not shop there. Only support businesses and services that respect you. Run far, far away from services who's business model and legalese allows abuse.
They're not your friends and the service is not "free".
Most every brokerage was blocking or slowing trades on GME today, even the paid ones.
Though RH was the only to sell trades or cancel already queued ones
System is rigged for sure. My point is for consumers to get a whole lot smarter when selecting who to crawl into bed with.
The irony is that Robinhood is only "free" in the same way Facebook is.
The trades are relayed to Citadel (!) in real time and they can front run them.
Dogecoin: "TO THE MOOOOOOOOOOOOON!"
1DOG = 1DOG
Citadel owns Robinhood. It’s a data mine.
At this point, I hope nobody is using Robinhood.
It’s temporary. Everyone has a price. Eventually it will end up where Robin Hood did: selling trader info to hedge funds.
I'm hearing Tradezero stated loud and clear they're not going along with the blocking of stock purchases?
Difficult bc free trading cant exist. The broker needs to make money to exist, they sell order flow or charge commission.
I know what you mean and i feel your passion
This week is magnificent
The problem is with a free app, it has to sell order flow and the people buying that order flow are the exact same corrupt bastards you don't want anywhere near your app.
Probably owned by another corrupt company
Finra protects their own
The genie of Freedom will be global. None of these insecure tyrants CANNOT STOP IS.
Crypto an DeFi FTW!
"Just build your own... "
Gladly.