Robinhood Continues to Battle BrokeragesRobinhood Continues to Battle Brokerages
Free trading app Robinhood adds hundreds of foreign-listed stocks.
On the heels of last week’s free trades announcement by JPMorgan Chase, Robinhood is increasing the global equities available on their platform, according to a company blog. The free trading app will now offer more than 250 global equities via American Depository Receipts.
Among the equities newly available on the platform are Tencent and Nintendo, and the company plans to add offerings from France to the app in coming months. The stocks will all be available commission-free. Robinhood continues to chip away at legacy brokerages that charge commissions for trading. This is the first time that ADRs will be available on the Robinhood platform; prior to this, investors would need an account with a brokerage firm that supported them.
While Robinhood has been disruptive to that industry for some time now, the charts above show companies whose stock prices reacted to last week’s JPMorgan announcement of its You Invest offering, the Trade account portion of which became available this week. This application also provides commission-free trading. The data and charts above were compiled by CB Insights. A Robinhood spokesperson did not return a request for comment.
