Robinhood lowers interest rate on margin loans in growth push
By Niket Nishant (Reuters) – Trading app Robinhood Markets is lowering the rate of interest it charges on its margin loans, it said on Tuesday, to encourage more customers to avail this facility that allows them to borrow against securities they hold. WHY IT’S IMPORTANT The company has rolled out a series of features recently as it looks to grow into a full-fledged broker and meet the demands of retail investors for sophisticated products. The … Read more…