A must Read Article in New York Times
Reading this and then reflecting on Indian Brokers, our brokers, at-least the big names, appear to be far more ethical and non-manipulative, and are working much harder on providing us with fair education and great platforms.
To be honest, in the suicide case, Robinhood can be blamed partially but not fully. One should know completely what he is doing.
But I agree with your point that Indian brokers are trying to make traders educated and put certain restrictions also. I have read a comment on a video that in US the broker take certain tests before allowing you to trade in a particular segment. I think this should also be applied here. Then the one trading will have full information about the trades he is taking, he is aware of the maximum limits of losses.
I have a Robinhood account, they don’t take any test and have made it extremely easy to enable options, with few clicks they enable options, and immediately show various short cuts to easily place various kinds of options orders. To be fair they show a small risk indicator, but their social channels and communities(official/non-official) promotes directly/indirectly reckless trading, especially in options, showing young traders picture of multi fold returns.
that happens in India also, I have joined many facebook groups where there are people full of scammers. It is full of edited pics. Earning 4 lakhs, 5lakhs, 2 lakhs and recently there is a suicide case in Delhi too when one person saw these edited pics, took loan and I dont need to tell rest. This needs to be stopped.
They don’t have currencies yet, US equity,options and cryptos only.