Online trading has become controversial for giving consumers unfettered access to markets, triggering the rise of ‘anti-Robinhood’ platforms betting on relative safety.
Some micro-investing apps say they are more akin to savings accounts. Jim Rice
Robinhood, the infamous US trading platform that has come to prominence during the pandemic for giving millions of new investors access to financial markets for the first time, is now so controversial it faces a potential ban in Massachussetts.
William Galvin, the head of the US state’s securities regulation authority, said in April he was seeking to revoke the fintech’s market licence in his jurisdiction.
Aleks VickovichWealth editorAleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
