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Robinhood.io Start-up offering free stock trades

  • 15-12-2013 6:43pm
    #1
    Pennystockwhiz
    Registered Users, Registered Users 2 Posts: 59 ✭✭


    Robinhood.io new start-up based in California offer free stock trades for self-directed accounts and trades done via their mobile app. Only operating in California yet and will look to expand worldwide. It will be interesting to see how they do in the future.

    http://pennystockwhizzkid.com/robinhood-io-review/
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  • #2
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    Pennystockwhiz wrote: »
    Robinhood.io new start-up based in California offer free stock trades for self-directed accounts and trades done via their mobile app. Only operating in California yet and will look to expand worldwide. It will be interesting to see how they do in the future.

    http://pennystockwhizzkid.com/robinhood-io-review/

    They're not the first brokers to go down the free stock trades route, Zecco did it before, free initially for any sized account, went from there to free trades for accounts with stock/cash in excess of $10k and then free for accounts with stock/cash in excess of $25k (a good way to build up the size (by $) of their client base), eventually merged with TradeKing, not sure how they make their money initially (other than the money on deposit with them) but obviously the merger would have been beneficial for the Zecco founders. It will be interesting to see how Robinhood develop.

    Edit: It doesn't look like they have any plans to extend beyond the States, this is a quote from their website 'It is Robinhood Financial policy not to open or maintain accounts for residents of foreign countries'


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