New No-Free Trading App Launches – Smarter Finance Journal

New No-Free Trading App Launches

Robinhood. Its easy to use, sleek, and just launched this week.

phonesVia the company’s official website and FAQ center: “Robinhood is a stock brokerage built with the needs of a new generation in mind, and with the belief that everyone should have access to the financial markets. Robinhood allows customers to buy and sell U.S. listed stocks and ETFs with zero commission.”

They continue: “Robinhood is not about taking from the rich and giving to the poor. Instead, it’s about democratizing the financial markets. The name is our way of challenging the status quo. For most of history, institutional investors have had advantages that were unavailable to most individuals and we’re changing that with Robinhood.”

The great thing about the tool is that it was built with the idea of mobile first in mind, which is refreshing, and a trend we can all expect to continue. Unlike their competitors they don’t charge a commission for standard trades nor do they require any minimum deposits. They are following the “freemium” model, in short.

In the 12 months since Robinhood was first announced, nearly 500,000 people have joined a wait list to download the app. Nearly all of those people are in their twenties, and the co-founders know that most of them won’t be ponying up for its premium features.

Robinhood’s fancy group of angel investors are confident too. The company has raised a whopping $16 million from a group of pretty famous investors, including Snoop Dogg, Jared Leto, and Andreessen Horowitz.

Check out this short promo video, and think about even downloading the app. It’s free, so why not?

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