It’s an opportunity- or make your own wise choice. It’s your money after all.SlowMovingInvestor wrote: ↑Mon May 03, 2021 9:38 amI'm guessing cap is around $2B, which is the same as Fido, MS/Etrade etc. But yes, it's much safer to be at Fido or MS than RH in the event of a massive failure.Leesbro63 wrote: ↑Mon May 03, 2021 9:36 amInsurance up to $1.5M, but what is the aggregate "cap" for claims on all accounts? I admit that no one lost money, to my knowledge, at Robinhood because of any failure. I'm just saying that their inability to handle whatever happened would concern me if I had more than the SPIC limit there.SlowMovingInvestor wrote: ↑Sat May 01, 2021 2:16 pmWhat RH episode ? I don't have an account in RH, but I believe they have insurance up to $1.5M. I question their business practices such as selling order flow, video game-izing options, but I wouldn't be concerned about failure leading to loss of my investments.
All I said was - we did 3-4 M1 transfers and bonuses — all went extremely smooth and timely (be cognizant of M1 once-a-day trading rules — then again - we never trade; we simply buy and hold .. so it doesn’t matter much to us)
As far as SIPC insurance- the actual holdings are held at Apex Clearing (expected to go public at $5 Billion !?) knowing eTrade sold out for $13 billion — we are not talking peanuts around here. Anyhow .. here we are in the Bonus opportunities thread — discussing where/why not to do bonuses — May be someone should start a new thread on such topic and see how much it gets traction !?