withdrawal: robinhood backend securities sold -> account -> money
Is this the argument made by robinhood? Perhaps if that is laid out clearly in contract, i.e. robinhood is granted agent status to purchase and sale securities on behalf of consumer
Receiving agent status to purchase and sell securities on behalf of the consumer would mean the consumer is consenting to possible losses from the performance of those securities.
consumer securities purchases protected by sipc
robinhood bank checking format:
deposit: money -> account -> robinhood backend securities purchased
withdrawal: robinhood backend securities sold -> account -> money
Is this the argument made by robinhood? Perhaps if that is laid out clearly in contract, i.e. robinhood is granted agent status to purchase and sale securities on behalf of consumer