Home / English News / Brokerage Robinhood introduces 24/7 phone support after communications criticisms

Brokerage Robinhood introduces 24/7 phone support after communications criticisms

NEW YORK (Reuters) – Robinhood Markets Inc said on Tuesday it had introduced 24-hour customer phone support, seven days a week, addressing criticisms over the app-driven retail brokerage’s communications that were also implicated in the suicide of a client.

The fast-growing broker shot to prominence earlier this year during the “meme” stock trading frenzy with its easy-to-use interface that made it a hit among young investors, but users have long complained about a lack of response to inquiries.

Robinhood said expanding its customer support would help its users feel confident, informed and secure about investing, especially when getting started in trading assets like cryptocurrencies.

“We need to help everyone feel like they are ready to become investors, that they belong, and that they will get the support they need in the moments they need it most,” Christine Brown, chief operating officer of Robinhood Crypto, said in an interview.

Robinhood came under intense criticism in June 2020 after a 20-year-old investor named Alex Kearns https://www.reuters.com/article/us-robinhood-options/robinhood-reviews-options-trading-offering-following-suicide-by-customer-idUSKBN23P3JO died by suicide after he received a notification by the brokerage that he thought meant he had lost $730,000 on an options trade, and then was unable to contact anyone within the company to clarify the matter.

Kearns’ family sued Robinhood over the brokerage’s “misleading communications” that caused their son to panic over what he wrongly believed were huge market losses.

The case was settled earlier this year, Robinhood said in a June regulatory filing https://d18rn0p25nwr6d.cloudfront.net/CIK-0001783879/fed1afc9-fc82-4a7a-8735-caed2497fbd3.pdf.

Prior to the launch of 24/7 phone support, which has been rolled out in recent weeks and is a first for a major cryptocurrency trading platform, Robinhood’s 21.3 million active users mainly had to correspond with the company through email, Brown said.

Now users can request a call through the app and hear back from a trained representative, with the average wait time in recent weeks at Robinhood Crypto of around 30 minutes, Brown said.

“This is a human, live, talking to you anytime day or night for every issue that you might have at Robinhood,” she said.

(Reporting by John McCrank; Editing by Lincoln Feast.)



Source link

Check Also

MyEG plans private placement to raise as much as RM309mil



KUALA LUMPUR (Bernama) -- MyEG Services Bhd (MyEG) has proposed placement of up to 4.17% of its total number of issued shares to third party investors that would be identified later at an issue price to be determined later.

It said as of the latest practicable date, the total issued share of MyEG is valued at RM664.24 million comprising 7.38 billion shares, including 182 million treasury shares.

"For illustrative purposes, assuming the issue price of RM1.03 per placement share, the proposed placement is expected to raise gross proceeds of up to about RM309 million,” it said in a filing with Bursa Malaysia today.

It said the proceeds would be used for the development of healthcare-related services and technology and the development of automated dr

Football: Soccer-Neymar ruled out of PSG’s Champions League clash with Leipzig



(Reuters) - Brazilian forward Neymar will miss Paris St Germain's Champions League group game against RB Leipzig after picking up an injury on international duty, manager Mauricio Pochettino said on Monday.

The 29-year-old was among a number of players not involved in PSG's 2-1 Ligue 1 win over Angers on Friday due to their involvement in World Cup qualifying games.

"The priority is always the wellbeing of the player," Pochettino told a news conference. "Neymar has a little problem which we hope he will only last for a few days and he will be back with the squad as soon as possible."

"Neymar Jr had some pain in his groin since returning from international duty and will undergo more treatment over the next few days before returning to full training," P

Leave a Reply