Here’s how Robinhood is raking in record cash on customer trades — despite making it free
The Robinhood application is displayed in the App Store on an Apple Inc. iPhone in an arranged photograph taken in Washington, D.C.
Robinhood is raking in more money than ever on customer trades as new investors flood the stock market during the pandemic.
Despite not charging customers to trade, the Silicon Valley start-up made $180 million off trades in the second quarter roughly double from the prior year, according to a recent Securities and Exchange Commission regulatory filing. The majo…