In 2013, Robinhood was founded by Vladimir Tenev and Baiju Bhatt, who had previously built high-frequency trading platforms for Hedge Funds in New York City. Based on their experience, they started the first of this kind, a broker available only on smartphone and offering free trade on stocks. Their mission is to democratize our financial system.
Since then, they developed a web application and added options and cryptocurrency trading in their offering. Moreover, they are offering a gold membership to for 5$ a month. You get Professional Research, better market data and Access to investing on margin so you get extra buying power.
Their latest product was Cash management. With this product, you can earn 1.80% APY, have a debit card where you can spend anywhere Mastercard® is accepted around the world and finally you don’t pay fees at any of the 75,000+ ATMs² in their network (ATMs in the Allpoint or MoneyPass networks).
In 2019, they opened an office in London and get licensed in the UK. So you can expect an extension outside of the US soon.