![]() At the same time, Morgan Stanley acquired E*TRADE to create a wealth platform with $3.3 trillion in client assets. In October 2020, Charles Schwab purchased TD Ameritrade to create a company with over $6 trillion in client assets and 28 million accounts. This has led to a number of monster mergers between some of the largest brokers and banks in the US market. While Robinhood’s growth has impressed, they have also singlehandedly forced other US brokers to slash commissions to zero in order to remain competitive. Launched in 2013, Robinhood have managed to entice the next generation of US share traders by offering zero commissions, an easy-to-use app and fractional share dealing. ![]() Robinhood is a US stock trading app thought to be used by around 20 million investors.
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