Changing brokerages for a 2% bonus can be enticing, but one must consider long-term performance and other significant risks involved in such a decision.
The simplicity and accessibility of Robinhood make it particularly appealing to younger investors, though its limitations in insurance coverage could pose substantial risk for larger portfolios.
While the potential for substantial immediate financial incentives exists with Robinhood's offer, concerns regarding trust and switching costs shouldn’t be overlooked.
Investors must weigh the ease of trading and incentives against the substantial risks involved, especially in terms of security for larger investments.
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