Robinhood is wildly popular on mobile devices. With apps for both iOS and Android devices, the free stock trading service has achieved 3 million users in less than two years. Its users have transacted over $100 billion while saving more than $1 billion in commission fees.
Today, Robinhood shared what’s next. The service will soon expand to the web to face traditional stock trading platforms with experiences that sync across different types of devices.
It’s not just Robinhood ported over to a desktop or laptop. New features have been created, and they’ll also make their way over to the mobile apps next year. But they’re going to be available on the web first. Robinhood wants to maintain the same product for everyone, no matter the devices they use. So testing for the new features will happen on web before heading to iOS and Android.
These are the new features:
- Discover new stocks through Collections, organized by sectors such as “Gas and Oil,” “Entertainment,” and “Social Networks,” as well as curated categories such as “2017 IPOs” and “Female CEOs.” All Collections are interactive and easily sortable by various factors to allow for side-by-side comparisons.
- Price Paid
- For each stock, view the average share price Robinhood investors bought at, as well as the current share price. This aggregated data serves as a reference point for investors thinking about entering a position.
- Analyst Ratings
- View, buy, sell, and hold ratings from Wall Street analysts and read commentary from Morningstar analysts.
- Review earnings information such as EPS hits or misses going back eight quarters, upcoming and expected EPS, as well as listen to live earnings calls.
- News and Fundamentals
- Read the latest headlines and market coverage in a personalized newsfeed, and glance at company fundamentals such as Market Cap, Price-Earnings Ratio, Volume, and more.
Everything announced is exactly what users have wanted. Until now, Robinhood has stayed plain and simple. You’d launch the app, view your portfolio’s performance, and make any changes needed. There was some data available to help you make decisions, but the update is going to add analysis and access to deeper reports.
Robinhood expects its web-based experience to go live for all users in early 2018. Testing has already begun for a handful of users, and you can sign up to be put on a wait list through the app.