Trading platforms have been a subject of interest for people all over the world, and the number of individuals and their curiosity increases. The need for an online presence and a broker is considered as elementary education for anyone, but choosing the best place to trade is still a delicate topic.
The opinions are split about which platform is the best but we can all agree that we need a secure, well-designed, easy to use, and trustworthy platform to trade on. Once upon a time, this may have been a dream. Now, we don’t have to imagine anymore, because a solution already exists. One platform has stud out from the rest, recognizing the number one requirement today from any broker – the famous Robinhood platform.
The idea of creating the Robinhood platform in the form of a manageable mobile app came from Baiju Bhatt and his colleague from Stanford, also a physics Vladimir Tenev. The app is conceptualized to generate the “newcomers” on the trading platform, free of commission trades, and minimum required knowledge to use it. Such a perfect idea for an online brokerage made its introduction at the end of 2014 and had the full support of names like Google Ventures at the time. For more detailed information, you can check out investotrend.com.
The results of the possibility of trading on your smartphone via mobile app offered the smart-generation just what they needed. Generating record-breaking numbers, the Robinhood platform, with its unique comfort of usage, won an Apple Design Award. The company is now valued over $6 billion with an enormous potential for future growth, according to the experts. Accessible to inexperienced traders and to ones that have significantly more experience to have a 50:50 of chances of succeeding in their trading on the platform. The study showed stunning stats that over 5 million people over the globe use the mobile-app for the Robinhood platform.
The introduction of trading cryptocurrencies shows the vision of the company. Offering options like an exchange-traded fund, no account minimum, and with no commissions from the transactions on the platform, it’s ideal for frequent stock actions, cryptocurrency, which benefit any smartphone user. When speaking about a mobile-app to trade stocks, the Robinhood platform is rapidly becoming the only choice for the younger generation. The mentioned age group above represents the most significant percentage of traders today and the foundations for the future of the app.
The Robinhood platform faces the same dilemma as do any other online trading app have to answer their investors, is it safe? Security and safety of investments made by trading on the platform are ensured with this brokerage company regulating their behavior with the Financial Industry Regulatory Authority – FINRA. For any member of FINRA are mandatory to submit regulations, procedures, and rules of the organization.
The downside is that the RobinHood trading platform does not offer the same tools and data as the competition. But with this simple to use options, security in FINRA, and free of commission makes it the right choice. We hope that your dilemmas are resolved now when you know where to place your trades.