• Report:  #1532089

Complaint Review: Robinhood markets inc - menlo park CALIFORNIA

Reported By:
Robert - butte, Montana, United States

Robinhood markets inc
menlo park, 85 willow rd menlo park, 94025 CALIFORNIA, United States
Tell us has your experience with this business or person been good? What's this?

placed credit spread option , put up my own funds for margin cover of spread in option, my risk , my money, they excercised option early to close position , not allowing position to go to expiration and expire worthless , which is what i wanted.

they hide behind their own policy of judging whether you can risk your own money on an option play as if it is their money, i have 7000 hrs trading and investment experience, i know the risks when i put on an option position, and put up my own money as coverage for any losses i may incur, should not be their opinion as when to close position , when position is in my profit zone, and within my risk and loss zone, i do not use margin accounts for that reason.

i only do positions with moneys I have or can afford to lose, they refuse to fix the losses they caused me , my position would have been an 8 % gain for 4 day position, to date for this year i have doubled my account  since jan 4, so i am well aware of my risks and am well with in an acceptable loss zone if need be , its not their place to choose how to handle my money i put at risk , they have a habit of doing this and also other means to get additional fees , and causing loosses to customers since they wont allow many option plays to protect a customers option plays such as refusing to allow up and out rolls etc , or they decide to close positions early and the collect fees for excercising those actions.

i play option plays down to the last minute but also get good returns for my risk that i am aware of, thats why i have doubled my account in 3 months , instead of settling for just maybe 15%  for the whole year, i am up 91 % currently would have been more if robinhood hadnt excercised my position early. Complaint has been filed with the sec also.

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