Robinhood’s Fumble Compels 76% of Customers Intent to Swap, Some Petition Apple to Take away it From App Retailer

Robinhood seems to be making issues worse as a substitute of higher in its try to handle buying and selling in extremely shorted securities like GameStop and AMC leisure. Crowdfund Insider has simply acquired an electronic mail from Blind concerning a survey of Robinhood customers indicating {that a} whopping 76% of customers plan to change buying and selling from Robinhood and 13% have already finished so. Wow.

In response to Blind:

1,270 survey respondents:

• 76% of respondents say they plan on switching from Robinhood
• 13% of respondents say they already did (and shared the place they went)
• Solely 11% of respondents say they gained’t be leaving the Robinhood platform

Blind shared quotes from a number of Robinhood customers.

• An expert at Amazon responded “May somebody counsel an alternate platform with app? Is there a hyperlink to the switch course of?”
• An expert at Google shared “Initiated switch this morning to Constancy which is my different buying and selling account.”
• An Engineer at Amazon shared “Switched to constancy. Name them up they are going to refund the 75$ switch charges”
• A Fb skilled shared that they had “Switched to Webull”.
• An Apple skilled merely mentioned “Etrade”.

To make issues even worse, a petition has been launched on Change.org by Robinhood customers demanding Apple to take away the Robinhood App from the Apple App Retailer. As of this second, almost over 20,000 people have signed the petition.

The authors of the petition web site a violation of Apple’s phrases of service:

“Robinhood is in CLEAR violation of Apple’s Phrases of Service to “plan or interact in any unlawful, fraudulent, or manipulative exercise.””

Maybe the large winners in all of this are the ETrades, TDAmeritrades (Schwabs) of the world which are benefitting from enraged Robinhood customers who really feel mistreated.

The petition tells Robinhood customers;

“Robinhood MANIPULATED the market at present, and that is utterly unacceptable. We have to take away Robinhood from the App Retailer. Transfer all of your funds out of Robinhood at present, don’t give them your enterprise.”