![]() ![]() And while you’re not charged for transactions, interest, or other fees, you are required to pay a monthly fee to pay for the money you borrow. It’s a margin account, thus your gains and losses increase. ![]() But the company also serves up a “gold” version that lends out money strictly for purchasing stock cryptocurrency is not an option. Both are rolling out in waves throughout 2018.Īccording to Robinhood, around four million individuals use its free service, saving more than $1 billion in commission costs. It’s also rolling out a web-based version with a current waiting list of 1,088,614 potential users, and a free options trading service with a current waiting line of 578,290 potential customers. Robinhood provides a mobile app for Android, Apple Watch, and iPhone to purchase and sell stocks listed on U.S.-based exchanges. “We’ve cut the fat that makes other brokerages costly, like manual account management and hundreds of storefront locations, so we can offer zero-commission trading.” “We believe that the financial system should help the rest of us, not just the wealthy,” the company says. ![]()
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