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Founded in 2013, Robinhood made waves in the investing world as soon as they appeared on the scene. Their mission is to "provide everyone with access to the financial markets, not just the wealthy," and they did just that. Robinhood disrupted the market by offering commission and fee-free trades on stocks, ETFs, and options. Before Robinhood, if you wanted to buy stocks, you would typically be subjected to paying a fee of $5-$10 or in some cases more. As more and more investors started moving to Robinhood, young and old alike, Robinhood forced the "big guys" to innovate. They are largely the reason that many of the traditional brokerage firms have followed suit and offer fee-free trades today.
Author: Riley Vines