How the Robinhood Trading App Is Responsible for the Death of a 20-Year-Old Trader
A while ago, a 20-year-old trader on the Robinhood trading platform ended his life after what he considered huge losses during his trading time on the app.
At some point, the teenage trader got a message indicating that he had incurred a loss of over 7 hundred thousand dollars. However, in light of serious scrutiny of his trading decisions, it was discovered that the user interface of the app made a mistake, one that has put a family at loss.
Business Analyst Argue the Place of Maturity in Trading
Frankly, it is not the first time traders on various platforms will make rash decisions based on trading events that have occurred. The recession in the early 1900s saw many of these traders and stock investors make such rash decisions as they lost heavily.
However, some business analysts are arguing that age is a major factor in how these traders are well able to handle bad trading news. It may not have turned out this way had Alex been a lot older.
They, therefore, advise that these trading platforms only make their services accessible to people that are well advanced in age, drastically limiting the access of teenagers to these trading apps and related platforms.
How User Interface Error and Poor Service Cost a Life
In actual fact, the 20-year-old teenager did not make a trading mistake that amounted to his acclaimed loss of over 700,000 dollars. The trading app admitted that it was a user interface error that was responsible.
However, things were further complicated by the fact that Alex – the 20-year-old trader; did not get meaningful email responses from the trading app after he reached out to them to complain. All these played a huge part in why this boy in the prime of his life decided to commit suicide.
It is therefore important for trading apps and other technological and scientific innovations to see how their actions largely affect the decisions of others.
Robinhood has since explained that its platform is more committed to tackling these problems as advancements have been made. However, it is certain that this cannot bring back the life of Alex.