Robinhood

Robinhood Markets, founded in 2013, is a pioneer in commission-free trading. In 2015, this US-based financial services company officially launched its trading app. Making financial markets accessible to all traders without additional costs remains the mission of Robinhood, which has over 13,000,000 users according to its latest SEC filing. Robinhood caters primarily to millennial traders with an average age of 26. It also expanded into cryptocurrency trading via Robinhood Crypto. Another attractive feature is fractional shares trading, eliminating the need for massive deposits to trade blue-chip equities. Robinhood does sell its order book to high-frequency trading firms, which prompted the US Securities and Exchange Commission (SEC) to launch a probe in September 2020. Robinhood remains in high demand among new retail traders, many of whom generally have little to no knowledge of financial markets. Nearly half of all Robinhood traders claim to use it daily, and 90% at least weekly; most traders prefer to trade from their mobile phones.