Yesterday, Robinhood (the mobile free trading stock app) launched Robinhood Gold. Here is a Techcrunch article that has more snark and also chose to shout out the more famous name investors in the article (Social Leverage has invested in the Seed, Series A and Series B).
I have been using Robinhood Gold as part of a beta group. It is fantastic.
What Robinhood has done is reimagined the margin lending business for a younger generation (language, utility, optimization, design)…much like Amazon Prime has simplified a delivery fee and membership.
For as little as $10/month investors can get access to after pre-market and hours trading, additional buying power and larger insta deposits.
On Stocktwits, the Robinhood usage continues to grow fast. Our users are connecting to Robinhood (tens of thousands) and trading on Stocktwits via deep linking to the Robinhood APP through their API.
This launch is not just ‘bigly’ for Robinhood.
Putting my fintech investor/industry hat on for a moment, Robinhood is showing a possible way to monetize and profit.
In my opinion, Robinhood is years ahead of any copycats, but I would not be surprised to see more startups (likely Venture backed) follow the Robinhood model.
The venture capitalists and entrepreneurs have flooded the robo investing market but I personally see Robinhood Gold as a sort of Uber X moment. I would be surprised if there was not one/many ‘Lyft’ to Robinhood’s ‘Uber’ of free stock trading on the horizon.
In the meantime, try it out opening a Robinhood account takes 3-4 minutes. You can connect to your Stocktwits account and do what tens of thousands of people are already doing…socializing trade ideas, making zero cost trades and sharing their actual trades in the Stocktwits streams.
Also published on Medium.