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Robinhood blows past rivals in record year for retail investing
Robinhood Markets Inc. is outrunning its online-brokerage rivals, at least by one widely followed industry metric for customer activity. The company, which runs a no-fee trading app in the U.S. that’s drawing millions of new users as well as a few critics, said that daily average revenue trades -- known as DARTs -- were 4.31 million in June. That’s about four times the number of fee-generating trades at E*Trade Financial Corp. for the same period, and higher than all of its publicly traded rivals. Robinhood is among brokers that still use the DART term even though they don’t charge fees. The firm is revealing ... (full story)