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No-Fee, Stock-Trading (and ETF) App Robinhood Is Now On Android
Fair enough, I'm sure there's room to undercut what brokerages currently charge for many things. But I'm pretty sure there's a lot of cost related to compliance that shouldn't go away for Robinhood anymore than for every other brokerage. I didn't see anything about account fees, or maybe I didn't look hard enough, but I imagine they can't make enough from margin balances and interest on customer deposits to cover their costs. Maybe 'Robinhood' is an appropriate name after all.
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