Zero-Commission Stock Trading App RobinHood Kicks Off Private Beta

Posted on

TechCrunch

RobinHood is about to let anyone buy and sell stocks for free instead of having to pay E*Trade or Scottrade $7 per transaction. Today RobinHood begins inviting its 160,000 waitlisters who’ve signed up to download its glossy new app where you can efficiently track and trade stocks. “It’s by far the most beautiful brokerage app, though that’s not saying much” co-founder Vlad Tenev jokes.

But while RobinHood makes Wall Street look stylish in your pocket, what’s special is what it does, and does for free. That’s letting you trade stocks with zero commission. You might assume it would cost RobinHood money to execute trades, but in fact it can make money by moving yours around. We’ve just been conditioned to assume its something you have to pay a fee for after decades of investors handing Scottrade, E*Trade and others brokerages $7 to $10 for each buy or sell.

Those who…

View original post 471 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s