Seeing this now, wondering if anyone in this forum is having an account in Robinhood?
Who will bare the losses if any?
https://twitter.com/AskRobinhood/status/1072881754548006912?s=20
I do, it is working now. Option trading was down for over 2 hours. If it is a tech platform, it is bound to have downtime, from google to amazon to everyone else. That is the nature of the beast. Unfortunately in business of trading, it can cause a lot of angst.
But what if someone has position and want to exit during that time, what if because of this shut down losses are resulted? who has to bare those?
This is what Robinhood T&C says
No brokerage firm will be able to bear the losses (notional or real) that the platform going down can create. Hence the single most biggest rule of trading is to never trade more than 10% of your capital. You never know, anything can go wrong - from exchanges to brokers, to internet service providers, to your devices, and more…
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