It took almost a year, but we were finally called off the waiting list to try the new Robinhood brokerage service. So what is Robinhood? It is basically commission less trading. Without pricy branches and account managers, they can streamline their service price to zero. The investment company is FDIC insured and seems to have all of the bells and whistles of the big boys. So how does Robinhood make money? Interest from cash accounts and margin lending seem to be their piggy bank.
Its an interesting disruptive business model backed by Google Ventures and Andreesen Horowitz. We just signed up for the service, and they gave us three free invites to distribute as we see fit. Hit us up in the comments if you are interested in one of the invites, and we’ll email it to you. Be aware. You access their service from your phone or tablet and currently they only support Apple products (iPhone, iPad, etc). There is no Android or Windows mobile support at this time.
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