Link: https://www.robinhood.io/
Saw this on slickdeal, but didnt want to post it in the deal section as i cant find enough information about the firm no do i know if its open to Australians to trade.
Currently its signup by invite and their is a 100000+ waiting list
What do u guys think?
i know. this is why i posted it in the forums.
however, the $0 brokerage fees through electronic trading may change the future of stock trading.
they need to make money somehow. that business plan doesn't seem sustainable.
Yeah, it doesn't make sense because they don't even earn the spread if they match the orders.
Apparently they make money selling Bloomberg Terminal access and IRESS.
I'm not sure why they list margin trading as their revenue stream… Are they doing Opus Prime again?
The other thing is they claim it's google-backed
Wonder if google has any vested interests in this firm
the domain is registered to an american company. why would you go seeking exotic stock brokers when there are plenty of reliable ones in australia?