ROBINHOOD
Offering free mobile stock trades is not like giving to the poor, but the idea may just prove irresistible to millennials with bank accounts. I gave up day trading two or three market crashes ago, but if you’re up for a bit of on-the-go investing via your iPhone, get on the wait list or score an invite to Robinhood, a service launched in December, which comes with unlimited, commission-free trades and no minimum deposit. The registered broker-dealer Merry Men from Palo Alto offer trading of any stocks and ETFs listed on U.S. stock exchanges. Company officials say they will add more security types in the future, including margin trading at low rates. Expect no advisor services or frills usually associated with traditional discount brokerages. A hot ticket already—investors in this startup reportedly include Google Ventures and Andreessen Horowitz, not to mention Jared Leto and Snoop Dogg—Robinhood says it is busy onboarding customers as quickly as it can and has sent out 500,000 invitations so far. Sure, this isn’t the first broker to offer stock trading customers a freemium model; we’ll see how well Robinhood prospers. Robinhood is well planned and designed to make trading simple. Link a bank account to trade. No bitcoin.
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