Startup company in the brokerage industry of the Robinhood on Monday for the first time published their monthly trade data platform.
Robinhood Markets is a discount brokerage company that has become popular with novice investors, which offers commission-free trading through its website and mobile app.
One of the key indicators which used in the brokerage industry – the average daily trading revenue (Daily Average Revenue Trade – DART) at Robinhood, in June surpassed all similar existing market brokerage firms.
DART has traditionally presented the average number of transactions per day that brought commissions and taxes. Although many brokerage firms have moved to zero commissions, DART remains a key metric that allows analysts and other professionals to compare company performance and identify general industry trends.
After Robinhood started offering free bidding in 2014, by the end of 2019, to remain competitive, the zero commission had to move many major brokerage companies.
The number of DART Robinhood in June was 4.3 million agreements, while in TD Ameritrade this figure was 3.84 million, interactive Brokers registered 1.8 million DART, Charles Schwab and E-Trade: 1.8 million and 1.1 million respectively.
According to the company, the number of DART Robinhood for the entire second quarter doubled more if compared to the previous first quarter. All three of its best days in terms of trading fell on June 2020.
In the absence of commissions, Robinhood earns income through “discounts from market makers and trading platforms”, that is why large volumes of trades are so important for the profit of this private brokerage company.
Data from analytical companies show, that payments for a large number of transactions brought Robinhood approximately $ 69 million in revenue in 2018, which is 227% more than in the previous year, and accounted for more than 40% of total revenue.
Other sources of Robinhood income include a monthly fee of $ 5 for an additional Robinhood Gold membership, which gives for the client access to transactions using the company’s payment card and investment instruments.
At the beginning of 2020, the Robinhood platform attracted about 3 million new customer accounts, the total number already exceeding 13 million.
After the closing of the round of financing of the F series, Robinhood’s market value reached to $ 8.6 billion
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