Tagged: robinhood

Robinhood Milestone: More Than 10 Million Users Have Signed Up For Accounts

U.S. fintech Robinhood announced on Wednesday more than 10 million people have signed up for accounts on its platform. Publicly launched in 2015, Robinhood is notably on a mission to democratize our financial system. The company offers commission-free trading through on e platform. “Trading in… Read More

Report: Robinhood Pulls Bank Charter Application

Robinhood, a Fintech that seeks to provide a growing number of banking services, has pulled its application for a national bank charter filed with the Office of the Comptroller of the Currency (OCC), according to a report by CNBC. Robinhood filed for a “Charter National… Read More

Bigger is Better: Digital Brokerage Charles Schwab Buys TD Ameritrade for $26 Billion

As predicted last week, online broker Charles Schwab (NYSE:SCHW) has announced the purchase of TD Ameritrade (NASDAQ:AMTD) in a deal worth $26 billion. According to Schwab, the all-stock transaction represents a 17% premium of TD Ameritrade’s average share price as of November 20, 2019. Shares… Read More

Bigger is Better or Race to the Bottom? Schwab May Acquire TD Ameritrade

Two titans in the online brokerage space are preparing to merge, according to multiple reports. Schwab and TD Ameritrade are poised to combine operations in a deal that could be finalized as soon as today for an estimated $26 billion purchase. The move to consolidate… Read More

Report Indicates RobinHood Flaw Provided Free Money for Traders

A report indicates that trading App Robinhood had an interesting flaw in its platform that enabled some users to access unlimited borrowed funds. According to a write up by Bloomberg, users in the Reddit forum WallStreetBets were able to take advantage of the flaw. Investors… Read More

The Fed Cuts Rates by 25 Basis Points, So Does Robinhood

This afternoon, the US Federal Reserve cut its benchmark interest rate by 25 basis points. The Federal Open Market Committee decided to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent due to muted inflation and the “implications of global… Read More

Robinhood Appoints Former SEC Commissioner Dan Gallagher to Board of Directors

Robinhood, a trading App and Fintech stealth bank, recently announced it has appointed former SEC Commissioner, Dan Gallagher, to its Board of Directors. According to Robinhood, Gallagher has an extensive background in finance markets and regulatory matters and will be bringing expertise to the Board… Read More

Back to the Future. Stealth Bank Robinhood Offers FDIC Insured Cash Accounts After Previous Balk

Robinhood, a trading App and Fintech stealth bank, has returned to the current account business with FDIC insured savings accounts. Robinhood now offers a brokerage service, options, crypto as well as cash management. Robinhood does not charge commission fees on all trading. As of this… Read More

Robinhood Receives FCA Authorization to Operate in the UK; Appoints Wander Rutgers As President

U.S. fintech Robinhood announced on Wednesday it received authorization from the Financial Conduct Authority (FCA) to operate as a broker in the UK. According to Robinhood, the authorization will enable us to bring its investing platform to customers in the UK and is a “critical… Read More

Deja Vu: Betterment Reportedly Receives Regulatory Questions Regarding Interesting Bearing Savings Accounts & Checking Product

Fintech Betterment announced yesterday it was becoming more like a bank. The Robo-advisor with more than $15 billion under management revealed “Betterment Everyday”. The new service offered FDIC-insured checking and savings accounts minus all of the typical fees that traditional banks tend to slap on…. Read More

Robinhood Secures $323 Million Through Series E Led By DST Global

Robinhood announced on Monday it secured $323 million through its Series E funding round, which was led by DST Global, with participation from investors including Ribbit Capital, NEA, Sequoia, and Thrive Capital. Founded in 2013, Robinhood reported that it is on a  mission to democratize… Read More

Robinhood Announces Nasdaq Level 2 Market Data Through Gold

Just a couple of months after the revamping of Robinhood Gold, Robinhood announced Nasdaq Level 2 Market Data has been added to the premium feature, which includes other research reports and margin investing. Robinhood revealed for only $5 a month, users will receive all new… Read More

Robinhood Crypto Launches in New York

Robinhood announced on Thursday its Robinhood Crypto service has officially launched in New York. This news comes just six months after Robinhood announced that Robinhood Crypto received a virtual currency license, also known as the BitLicense, and a money transmitter license in the state. At… Read More

Big Brokerages TD Ameritrade and ETrade adding Bitcoin Trading – Something Robinhood Did Over a Year Ago

In a tweet last week, NYTimes crypto reporter stated that Etrade will soon allow Bitcoin trading. In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and… Read More

Fintech Robinhood Said to Be Pursuing National Bank Charter

Robinhood, a Fintech brokerage firm that combines traditional securities with digital assets in a single app, has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC), according to a report by the San Francisco Business Times. Last December,… Read More

Robinhood Introduces An Improved Robinhood Gold Experience

Following its acquisition of MarketSnacks to bring users financial news, Robinhood announced the improved version of Robinhood Gold Experience. According to Robinhood, Robinhood Gold is offered to every investor and includes margin investing and bigger instant deposits. It also offers new premium features such as… Read More

Robinhood Announces Acquisition of Financial Newsletter MarketSnacks

Robinhood announced on Monday it has acquired MarketSnacks, which was described as a daily financial news podcast and newsletter, and has re-relaunched these products as Robinhood Snacks. According to Robinhood, as part of the acquisition, MarketSnacks Co-Founders Jack Kramer and Nick Martell are joining us… Read More

Robinhood Crypto Receives BitLicense & Money Transmitter License in New York

Robinhood announced last week Robinhood Crypto received a virtual currency license, also known as the BitLicense, and a money transmitter license in the state of New York. According to Robinhood, the new licenses will allow New Yorkers to invest in cryptocurrencies on the Robinhood platform. Robinhood revealed… Read More

Robinhood Backtracks on Checking & Savings Account Offerings Following Statement by SIPC

CI reported earlier this week that Robinhood, a Fintech that provides trading in both traditional and crypto assets and more, had announced new checking and savings accounts that would pay holders 3% interest. Even better, Robinhood stated that these accounts would be insured by the Securities… Read More

Not So Fast. Report Questions Robinhood’s Claim about Providing Access to SIPC Insured Savings & Checking Accounts

Mr. Potter Banker Banking (1)

Yesterday, CI reported that Fintech Robinhood had partnered with another firm to provide checking and savings accounts with a 3% annual interest. That, in itself, is pretty amazing as traditional banks are in the habit of not paying any interest at all in real terms… Read More

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