The company has drawn a sizable user base over the years due to appealing offers like this. The platform’s groundbreaking trading-without-commission feature is what attracts the majority of young users.
Because of this pioneering effort, the discount brokerage’s larger competitors were driven to adopt a similar strategy, which relies on similar financial technology and commission-free trading. Consequently, other investing applications, like Webull, Charles Schwab, and Acorns, now provide clients with commission-free trading.
Robinhood offers financial services and a vast array of investing goods and services, including stocks, American depositary receipts, Exchange Traded Funds (ETFs), Initial Public Offerings (IPOs), cryptocurrency, and options.
Robinhood generates most of its revenue from accumulating minimal profits from individual trades. It accomplishes this by offering customers enticing features such as “free stocks” and commission-free trading.