I love RobinHood and wish they would come to Canada, but unfortunately they haven’t made it there yet.
To call it “legalised gambling” would to essentially call investing in general “legalised gambling” and I suppose to a certain degree that could be true, but not entirely. If you know what you’re doing you can come up with educated guesses as to what is going to happen.
For people just starting out the $0.00 commission is a godsend, especially with a lower account balance because you are right, all the profits would be eaten up by that. Now people should be realistic to their level of comfortability with trading. If you are not comfortable with trading you shouldn’t day trade, also, there is quite a bit of people that swear off day trading as, over time, “going long” has proven to return more.
If someone is new I would suggest buying low cost ETF’s or blue chip stocks, if you have the cash to.
If anyone is interested I wrote an article on investing they can also check out.