Robinhood Markets Inc., or simply Robinhood, is a U.S.-based financial services company headquartered in Menlo Park, California. The company offers the Robinhood smartphone mobile app, which allows individuals to invest in publicly tradedcompanies and exchange-traded funds listed on U.S. stock exchanges without paying a commission. The company makes money from interest earned on customers’ cash balances and margin lending, and by selling order flow to high frequency trading firms.
After an April 2017 fundraising, Robinhood had a $1.3 billion valuation. The Wall Street Journal reported in 2018 that the company had closed another round of financing that valued the company at $5.6 billion.
As per the latest development, PayPal is likely to offer crypto trading services through its Venmo subsidiary. This will give PayPal’s 300 million-plus customers a direct exposure to crypto assets.
The free-trading and popular trading app platform Robinhood said that it is planning to introduce more security checks and eligibility requirements for higher-value options trading.
A young trader Alex Kearns commits suicide over a supposed $730,165 debt in his Robinhood trading account. FINRA wants Robinhood to approve each client who is going to trade options.
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