Palo Alto based free stock trading app Robinhood has just announced its premium feature set, Robinhood Gold. For $10/month, users can skip the three-day waiting period with instant deposits and reinvesting, trade 30 minutes before and 2 hours after the market is open, and borrow up to double the money in their account to trade on margin with leverage.
Robinhood says it will never charge commissions to trade stocks, but the $66 million-funded startup is finally ramping up monetization with the launch of “Robinhood Gold” premium features. For $10 per month, users can skip the three-day waiting period with instant deposits and reinvesting, trade 30 minutes before and 2 hours after the market is open, and borrow up to double the money in their account to trade on margin with leverage. The basic zero-fee trading appeals to younger, less wealthy, less experienced traders who make small investments where the $7-plus commission fees charged by competitors like Scottrade and E*Trade could eradicate their potential gains.
https://techcrunch.com/2016/09/29/robinhood-premium/?sr_share=twitter
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