{"id":9805,"date":"2017-11-01T17:30:50","date_gmt":"2017-11-01T17:30:50","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/robinhood-stock-trading-comes-to-web-with-finance-news-for-its-3m-users.html"},"modified":"2017-11-01T17:30:50","modified_gmt":"2017-11-01T17:30:50","slug":"robinhood-stock-trading-comes-to-web-with-finance-news-for-its-3m-users","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/robinhood-stock-trading-comes-to-web-with-finance-news-for-its-3m-users.html","title":{"rendered":"Robinhood stock trading comes to web with finance news for its 3M users"},"content":{"rendered":"


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You know what\u2019s cool? Not just being worth over $1 billion, but saving your customers $1 billion. Today, zero-fee stock trading app Robinhood<\/a> announced that it\u2019s hit 3 million registered accounts, $100 billion transacted in its app, and $1 billion in saved commissions considering competitors like E*Trade cost $7 per trade.<\/p>\n

And now, Robinhood is getting<\/a> a web version where beyond swapping stocks, you can research them with its financial news feed, check analyst buy-sell ratings, and compare them with its playlist-style Collections.<\/p>\n

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Robinhood founders Baiju Bhatt (left) and Vladamir Tenev (right)<\/p>\n

Long-standing competitors like Scottrade might cram a ton of data onto a web page, but that doesn\u2019t necessarily teach you financial literacy. That\u2019s something Robinhood users need as half of them are first-time traders. Co-founder Baiju Bhatt tells me \u201cIf the goal is to actually make people learn about investing, get better at it, be informed, I think our approach is the best one out there.\u201d<\/p>\n

Robinhood\u2019s $110 million raise at a $1.3 billion valuation<\/a> from April has clearly been put to swift use. But the web launch actually harkens back to Robinhood\u2019s original mission. Back in 2013 before it raised its seed round with the intention of letting you trade stocks for free, Robinhood wanted to be a crowdsourced investment advice platform<\/a>. With the new features like the ability to see the average price Robinhood users paid for a stock and whether its popular on the app, Robinhood is starting back down the path to social fintech.<\/p>\n

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The web app\u2019s design was based on a major insight from Robinhood\u2019s research. \u201cWhen young people are investing in the stock market, their behaviors are much closer to how people navigate products like Spotify or Amazon, rather than traditional investing products\u201d says Bhatt [Disclosure: I knew the startup\u2019s co-founders from college a decade ago].<\/p>\n

That led Robinhood to build Collections that group stocks by vertical into sortable playlists so if you want to find real estate companies with Buy ratings that are popular on Robinhood, you can find ones you\u2019ve never heard of. Meanwhile, Robinhood\u2019s web home page displays a personalized news feed of finance headlines about the stocks you trade. To support Amazon-style comparison shopping, Buy and Sell ratings come with breakdowns of the bull and bear cases provided by Morning Star.<\/p>\n

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As an app, Robinhood was far ahead of the pack, but being on web will expose it to more competition. It might even wake up some sleeping giants who wrote the startup off as just a mobile toy. New mobile trading apps like Piggy are popping\u00a0 Meanwhile, opening stock trading on the web opens up new security threats. The startup will have to keep everyone\u2019s money locked up tight, as a breach could ruin the trust its built.<\/p>\n

But perhaps more impressive than all the new stats and features is the fact that Robinhood has made good on its promise to use technology to make stock trading so efficient that it doesn\u2019t have to charge users. While E*Trade has 3600 employees to support its 3.3 million users, Robinhood supports 3 million traders with just 100 employees. By swapping heavy-overhead sales offices for a lean crew of engineers. Robinhood brought commissions down to zero where the dinosaurs can\u2019t compete.<\/p>\n

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Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/KtQ5IBFG5Io\/<\/p>","protected":false},"excerpt":{"rendered":"

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