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Robinhood Vs. Other Trading Platforms: Consider This When Choosing Or Switching | Alissa Coram - YouTube
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Hey y'all Ali Coram here and finding a broker聽
is a pretty important part of investing because聽聽
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you got to be able to place a trade聽
right well every year ib does a survey聽聽
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asking investors to rank their broker聽
across a variety of different metrics聽聽
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and i caught up with IBD markets聽
reporter Rachel Fox to talk about聽聽
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all things millennial and gen z investors with聽
some pretty interesting insights take a look
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it's so good to see you and okay so today i mean聽
you're young you're an investor so i think you're聽聽
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the perfect person to talk to us about all things聽
that young investors want with their broker yeah聽聽
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i've been investing since i was 15 and i聽
have had a bunch of different brokers so i聽聽
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i have seen i have seen them all yeah you聽
are you are well equipped for this topic聽聽
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and i feel like there are so many new investors聽
in the market right now and the numbers show that聽聽
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as well since the pandemic especially young people聽
and one of the things that they have to go through聽聽
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when they're starting to invest is they have聽
to choose a broker so what's the number one聽聽
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thing that young people are wanting in that聽
experience there was a huge influx of investors聽聽
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from the pandemic and over half were millennials聽
and then i think around 16 percent were gen z so聽聽
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it's a lot of new investors who don't know a lot聽
of the lingo a lot of um you know the ins and outs聽聽
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of the stock market but they know it's important聽
i think one of the biggest things was price being聽聽
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very price conscious the average income of聽
this group is around 55,000 annually and聽聽
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they want to start small they want to do it on聽
their own terms robinhood i feel like is known聽聽
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as that trading platform for young people why do聽
they have such a foothold on that young market聽聽
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i think it's because of the way that they've聽
branded themselves they were the first to聽聽
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break into the whole zero commissions you know聽
zero account minimums people really think of them聽聽
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as that and it's the app is it's so easy to聽
use um it's very simple everything is laid out聽聽
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clearly it feels very uh comforting i think to a聽
beginner yeah i use TD Ameritrade and my phone is聽聽
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definitely my security blanket i am a millennial聽
right so this is like an appendage this is part聽聽
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of my being and i feel very lost without it so i聽
am definitely a mobile first trader what about you聽聽
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i was a mobile first trader for a little while聽
there when i was just doing index funds and聽聽
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you know placing the occasional trade and now聽
that i'm a little bit more active in my trading聽聽
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i trade probably more than 20 times a聽
month i use TD Ameritrade yeah i know聽聽
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options guru you're just yeah you're yes and聽
all advanced on us yeah well TD Ameritrade is聽聽
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a great platform for that too if you want to聽
learn options they've got i think the best聽聽
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software for that there's there's a lot of聽
young investors who are also interested聽聽
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in you know one of one of the big criteria that聽
they were looking for is better trade聽聽
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ideas and better research tools the charts can聽
only get you so far if you want really in-depth聽聽
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research tools you're going to be better off聽
looking at maybe like fidelity or a TD Ameritrade聽聽
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or desktop brokers i feel like it's kind聽
of ironic a little bit about the robinhood and聽聽
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cheap thing because of the trade execution for聽
robinhood isn't that great right yeah didn't rank聽聽
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that highly in this survey um but i think that聽
um just the way that robin hood has really made聽聽
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trading accessible to a group of people who would聽
have never touched it if they had to pay you know聽聽
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five dollars in commissions every trade i think聽
that's been a huge thing the more the merrier come聽聽
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join us so yeah it sounds like there's a lot to聽
consider with a broker but what would you say like聽聽
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if someone is just feeling really overwhelmed with聽
what to do what would make that process easier聽聽
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for them i would say definitely check out the IBD聽
survey where we you know got a bunch of different聽聽
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you know pulled people's opinions on聽
what they're liking about the broker that they're聽聽
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with so you can get a feel for the聽
different features that these brokers have to聽聽
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offer and then i i would say you know consider聽
what what your priorities are what you picture聽聽
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your investing trajectory to look like if you want聽
to start a retirement account if that's you know聽聽
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your priority or you just want to trade some mean聽
stocks you know figure out what you're here for聽聽
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because there's a lot of different ways you can聽
be an investor and i think something that is super聽聽
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exciting to me is the fact that we had so many聽
women in the 18 to 25 range respond to the survey聽聽
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so go ladies but tell us more yeah half of the聽
half of the 18 to 25 year old range was uh or聽聽
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almost half was women investors which is a huge聽
jump from the millennial range which i think was聽聽
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only one-third women so there's definitely an聽
improvement all right well millennial woman i聽聽
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guess you better step it up come join us come in聽
best well Rachel it was so great chatting with you聽聽
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today and we'll have to catch up again soon
thanks Ali. hey y'all little miss Jojo and I hope聽聽
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you enjoyed that video now make sure you leave聽
a comment and let me know who your broker is and聽聽
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what you like about them i'm definitely interested聽
in finding out and we will see you next time!
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