Boycott RobinHood: Testing Trading Apps – CakeDeFi Vs. WeBull vs. TradeStation
Robinhood has suspended trading by GameStop, AMC & Co. indefinitely. Traditional investment platforms are often forced to temporarily restrict certain stocks during times of extremely high volatility. Even the popular platforms eToro, WeBull & Trade Republic had to halt trading for a short time. Cake DeFi is a platform that allows you to buy Bitcoin – with one major advantage: interest payments of up to 7.5% on the cryptocurrency. WeBull offers commission-free stock trading in a simple and intuitive user interface. TradeStation is one of the few platforms that hasn’t stopped trading very volatile stocks like GameStop.
Dr Julian Hosp
Co-founder CakeDeFi & I-Unlimited, bestselling author, keynote speaker, MD, athlete
What is happening in the financial markets today is historic: a mass of small investors brings multibillion dollar hedge funds to their knees, which normally profit from the losses of these particular investors.
In the process, many of them used the popular Robinhood trading app, until it suspended stock buying but allowed sales to continue, thus protecting hedge funds. An obvious case of market manipulation.
In this article, therefore, we want to introduce you to the top 3 Robinhood alternatives, which have been proven to be unbiased and allow you to invest safely, without manipulation.
1. DeFi Cake
The truth is, even though Robinhood has voluntarily suspended trading in GameStop, AMC & Co. shares indefinitely, traditional investment platforms are often forced to temporarily restrict certain stocks during times of extremely high volatility. Even the popular platforms eToro, WeBull & Trade Republic had to suspend trading for a short time.
For example, US President Joe Biden’s economic team says they are closely monitoring the situation, and the head of the largest US stock exchange Nasdaq, Adena Friedman, said regulators should monitor social media for similar situations. in the future :
“If we see a significant increase in gossip on social media channels… and we also compare that to unusual business activity, we will potentially shut down this stock to allow us to investigate the situation.”, Friedman told CNBC.
Internationally renowned figures such as PayPal and Tesla founder Elon Musk or YouTuber MrBeast (with over 50 million subscribers worldwide) have spoken out in favor of the Bitcoin cryptocurrency in response to the events. Elon Musk even tweeted: “With hindsight, it was inevitable.”
(Disclaimer: The author is co-founder of Cake DeFi)
The simple reason being that crypto-currencies like Bitcoin are completely decentralized and therefore unregulated.
So even if a central party like the Nasdaq or a government wanted it, it couldn’t stop Bitcoin. More and more investors are recognizing this advantage, and therefore the price of Bitcoin has already been rising steadily for months.
Cake DeFi is a platform that allows you to buy Bitcoin – with a major advantage: interest payments of up to 7.5% on cryptocurrency. So instead of letting your Bitcoin hang around and hoping for the price to rise, you get passive income on your investment, just like with real estate or stocks!
As if that weren’t enough, Cake DeFi plans to offer decentralized stock trading by the second quarter of this year – a truly manipulation-free and unregulated alternative to the Robinhood trading app.
Click here to sign up for Cake DeFi and receive $ 20 USD free when you make your first deposit of $ 50 USD or more.
One app that has received has seen a lot of traction since handling Robinhood is WeBull. Like Robinhood, they offer commission-free stock trading in a simple and intuitive user interface.
The company also made headlines when it briefly suspended trading of GameStop shares sometime after Robinhood.
However, the CEO was quick to justify this, explicitly pointing out that this is not purported user protection or hedge fund protection – in times of huge volatility, it just becomes very costly for the clearing house. settle a transaction. Too expensive. And regulations would prevent WeBull from passing costs on to users instead.
Now, trading of GameStop, AMC & Co. is again possible without restriction on the platform – you can sign up for WeBull here.
3. Trade station
One of the few platforms that hasn’t stopped trading highly volatile stocks like GameStop, AMC & Co. at all is TradeStation.
In a tweet, they explain, “At TradeStation, you can buy GME and AMC shares and close any positions you hold. There are restrictions on short selling and new option positions. Our policy may change depending on market conditions.”
So while buying and selling is fully functional, short selling and stock options are currently restricted.
Unlike Robinhood or Webull, however, TradeStation has a minimum deposit amount: US $ 2,000. So this is a barrier for very small investors, but it is still relatively low compared to many other platforms.
Click here to register for TradeStation.
There are certainly platforms that have reacted more accommodatingly to the current speculation around GameStop and other highly volatile stocks.
However, the fundamental problem that centralized platforms regulated by the stock exchange commission can manipulate the market at any time – and in some cases do not even have a choice – remains.
The only real solution is to bring decentralization to the system – so that there is not a single party that can manipulate and self-regulate the market.
Decentralized cryptocurrencies like Bitcoin and platforms built around them like Cake DeFi are thus delivering what Robinhood promised but failed to deliver: the democratization of the financial market.
So click here to sign up for Cake DeFi today and start receiving interest payments on Bitcoin – and even enjoying decentralized shares very soon!
(Disclaimer: The author is co-founder of Cake DeFi)
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