- "We're delighted to share that more than 10M people have accounts on Robinhood," the company wrote in a blog post, rapidly growing from 1M subs in 2016 and 6M accounts in October of 2018.
- To put that in context, the combined Charles Schwab (SCHW +0.9%) and TD Ameritrade (AMTD +1%) brokerage giant will serve about 24M clients.
- The Schwab deal was announced last week after all major brokerages dropped commission fees on stock trading to keep up with the trend set by Robinhood.
- Related: E*Trade (ETFC +1.1%) and Interactive Brokers (IBKR +2%).