Robinhood Offers Rates From 5.7%-4.75%; Customers Receive Rate Based On Total Margin Balance
Portfolio Pulse from Benzinga Newsdesk
Robinhood has announced new margin rates ranging from 5.7% to 4.75%, depending on the total margin balance of the customer. This move is likely aimed at attracting more customers to use their margin services.
May 21, 2024 | 1:11 pm
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Robinhood's new margin rates, ranging from 5.7% to 4.75%, are designed to attract more customers to use their margin services, potentially increasing the company's revenue.
The introduction of competitive margin rates is likely to attract more customers to Robinhood's margin services, which could lead to increased revenue for the company. This strategic move is expected to have a positive short-term impact on the stock price.
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