I started trading on January 1st, 2021, and I became more and more invested, testing the waters and learning from experience day by day using the Robinhood platform.

By May, I was invested in Bitcoin, Ethereum, Ethereum Classic, and Dogecoin. The first week of May was exceptional. The demand and volume were so high that Ethereum Classic rose 82% in one day.

At that point, there were outages when the prices were soaring to the sky. The first outage was mainly because of Dogecoin and because the system crashed, I couldn’t sell my Doges while the price was going downhill as if it was going to have zero value in an hour.

As I couldn’t take any action, I lost about $600 from my investment in Dogecoin.

Then, less than a week later, the same occurred with Ethereum. Again, it was an outage and the entire crypto market lost so much value in a matter of minutes. All I could do was watching my funds going down without being able to take any action. I lost about 0.2 Ethereum in less than 10 minutes because I was only able to buy back when the price increased by 0.2 Ethereum.

I immediately took the screenshots as above and contacted Robinhood customer support explaining all for both the cases with clear proofs.

The below is their first reply. Then, there was another 12 email conversation with just the same template.

After 10 emails, I realized that they were just protecting their company and I didn’t feel like a customer with rights if even I show them clear proofs.

All emails were like templates saying the same thing: We had an outage. I understand your frustration. We will be reviewing and investigating soon and let you know when we finalize it.

Instead of writing these emails, they could just check the timeframe and my actions and inactions while checking the screenshots. Instead, they wrote standard emails thinking that customers don’t matter and they aren’t smart enough to realize what they are doing.

In the end, after 3 weeks, I received the below email:

As you can see, they didn’t even investigate. They basically thought that I am a small player and that I have enforcement to seek my rights. The agent even says at the end of the email: you had hoped for — as if I am the one trying to trick them.

After this email, I realized that Robinhood wasn’t a platform I can trust my money and that they don’t think long-term.

Maybe I should sue them and go to court for 3 years and then, maybe someone makes a film about a trader seeking his rights for 3 years, but I don’t think I have the will to do that.

Goodbye, my $1,500.

However, I am such a word-of-mouth person so I will tell anyone distant and close when the subject is about trading and Robinhood — just as how I am doing now.

So many reasons. Here is what I have at the top of my head:

• Customer service
• Analysis tools
• Stop Loss / Stop Buy Order Ability
• Community
• News and Financials
• Screeners
• Customization

Webull is only 3 years old, however, it’s incredibly capable and innovative with both its mobile and desktop app.

As I use Webull, I realize that Robinhood was such a basic tool. Webull is basically a very smart and beautiful experience for a trader.

Here is why.

You already know how I feel about Robinhood customer support. With Webull it’s a totally different experience. Firstly, they have phone support and they actually resolve your issues, not putting you in an insignificant role.

First of all, the setup of the analysis tools makes them easy to understand and follow. Basically, it’s a beautiful experience. As you use the Desktop 4.0 version, you will not be needing Tradingview because it has all the indicators that you can customize, and best of all, you can trade from the same platform instantly, using the same screen without distractions.

On the other hand, Robinhood tools for analysis are basic at best. They only have 4 indicators available and transition between the screens is time-consuming.

When I first started trading, I wasn’t aware of the existence of stop order and without knowing the concept, I was wishing to have an automated critical level to stop the order and when I discovered about stop order, it was the aha moment.

Using the Stop order automation, I am able to limit my risk as well as I want without checking the screen each minute. As the 1% rule suggests, traders shouldn’t be risking more than 1% of their account value at a single trade.

Webull gives the ability to execute stop orders and Robinhood doesn’t. This one reason shows that Robinhood is not good for traders.

Webull has a community forum that any member can comment on the specific stocks or cryptos they want. This allows people to share opinions as well as technical knowledge, which adds incredibly to the experience of learning while playing the game.

Robinhood basically doesn’t have any community and you are all by yourself making decisions.

Webull has a very advanced news and financials section for members so that they can grow their knowledge while checking the data and stock on the same screen conveniently.

Robinhood has very limited news for some stocks and cryptos and they have very limited financial information showing mostly the earnings report chart mainly.

Even though I feel Webull is far more advanced than Robinhood in screeners, I am using Finviz to screen stocks. It’s an incredible tool. You may want to Youtube: How to use Finviz screeners — if you are not familiar.

Especially with the new update of Desktop 4.0, you can build your custom Webull desktop view and place all your market watch, stocks, news, market orders, etc. as you like.

Robinhood doesn’t offer any customization.

If I didn’t lose my own funds to some outage, then, I would even feel lucky about the incident because it let me explore new platforms, which led me to find Webull, a much more advanced platform for both new and seasoned investors and traders.

If you are currently using Robinhood and you haven’t tried Webull, I’d suggest that you open a Webull account and they give away 3 shares which can amount to $1,500 if you are really lucky — when you deposit $100.

What do you think of Robinhood and Webull. Curious to know your experiences.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.com/innovation-party/robinhood-vs-webull-a-1-star-customer-service-experience-vs-all-around-trading-platform-7ca428db41f9?source=rss——-8—————–cryptocurrency