Popular stock-trading app Robinhood, which has been disrupting Wall St. with its zero-fee transaction models, has rolled out a new suite of premium features to its Gold membership. This comes ahead of buzz about a possible IPO.
Robinhood's push to become a millennial investor's one-stop shop gained momentum yesterday with the announcement of new premium features to their Gold membership. It's the latest play by the company that operates a zero-fee stock-trading app that has become popular with younger investors. Its goal, said co-CEO Baiju Bhatt, is to democratize America's financial system by making investing accessible to the little guy.
In a recent company blog post, Robinhood claimed that the new features are part of a"continued effort to help [users] make more informed investment decisions." By sidelining commission fees, the company's bottom line relies on these premium paid subscriptions, in addition to order-flow payments, rebates from market makers and interest paid on margin accounts. And for Gold members who choose to invest with margin, that interest is now only 5% annually on amounts borrowed above their first $1,000 in margin.
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