Robinhood Brings fee-Free stock trading To more Apps
The startup’s provider for traders is cellular and free—and now it can be in additional locations.
November 20, 2015
Robinhood grabbed our attention for years whereas it was once nonetheless on the planning stage. the company succeeded in rocking the financial boat when it launched in Dec 2014 as the first cell-first, fee-free brokerage, permitting users to exchange shares with out commissions or account charges proper from your smartphone. today, the corporate is asserting partnerships so that it will let users of economic services and products StockTwits ( one in all fast firm‘s Most progressive corporations in Finance in 2012), Openfolio, and Quantopian trade directly using Robinhood’s platform. (tutorial finance company Rubicoin may even integrate Robinhood services when it launches in December.)
Robinhood itself isn’t getting any new features, but users who even have debts with Robinhood’s new partners will get to use widgets and buttons within those respective apps. For social financial platforms StockTwits and Openfolio, this means taking a look at trading task and right away being able to exchange without needing to change into Robinhood’s app. the identical is correct for Quantopian, a maker of trading algorithms. most likely best possible of all, routing via Robinhood approach customers can trade without paying fee fees.
“It’s never been accomplished sooner than in this house,” says Robinhood cofounder Vladimir Tenev. “It connects Robinhood buyers to powerful investment instruments, and in reality adds price to these partners who have numerous interesting instruments in finance however have no longer been able to transact seamlessly sooner than.”
Robinhood chose to accomplice with existing corporations relatively than expand its personal portfolio of services so that everybody involved is specializing in what they already specialise in, says Tenev.
“There’s been numerous creativity within the space, and no conceivable manner that we are able to create every kind of product for every consumer,” he adds. “The interface can’t probably keep targeted and straightforward-to-use if we have been so as to add every possible characteristic that a financial customer might need within Robinhood.”
natural publicity to Robinhood through these widgets might imply extra users filtering in from partner services, but any projected consumer good points are arduous to predict, says Tenev. There are extra partnerships on the horizon, but Robinhood is not talking about which corporations will be concerned.