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Robinhood Markets, Inc. is a fintech company as well as a broker-dealer registered with FINRA. It was founded in 2013. Its primary product is a brokerage app that offers trading services for stocks, options, ETFs, and cryptocurrency. It offers commission-free trading of 15 cryptocurrencies in most US states, according to its 2023 annual report. Cryptocurrencies accounted for $135mn of its $785mn in transaction-based revenues in 2023. As with accounts held with any U.S. broker dealer, securities investors' accounts on Robinhood's platform are protected from a Robinhood failure by the Securities Investor Protection Corporation (SIPC) for up to $500,000. It is regulated by FINRA. In place of commission fees, the company generates revenue by selling premium services, selling order flow to market makers on stock exchanges, and earning interest on funds users keep in their Robinhood accounts.
Robinhood Markets, Inc. is a fintech company as well as a broker-dealer registered with FINRA. It was founded in 2013. Its primary product is a brokerage app that offers trading services for stocks, options, ETFs, and cryptocurrency. It offers commission-free trading of 15 cryptocurrencies in most US states, according to its 2023 annual report. Cryptocurrencies accounted for $135mn of its $785mn in transaction-based revenues in 2023. As with accounts held with any U.S. broker dealer, securities investors' accounts on Robinhood's platform are protected from a Robinhood failure by the Securiti...