Introducing Robinhood, a brokerage that allows everyday investors to pay $0 commission on trades, similar to high frequency traders and electronic trading firms. They’ve built an automated, electronic brokerage from the ground up that helps eliminate the costly touchpoints where other brokerages require human intervention or paper receipts. Oh, and they don’t have a minimum account balance for cash accounts. Support for margin and options trading is coming while they’re giving API access to select partners, which will allow devs to build applications in conjunction with Robinhood. In terms of security, everything is encrypted and the brokerage is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). They’re also backed by Google Ventures, Index Ventures, and Andreessen Horowitz to name a few.
Head to Robinhood to learn more about commission-free trading and to get in line for early access.
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