EXCLUSIVE: Robinhood's Steve Quirk Says New Offerings Like Crypto, Futures Bring Customers, Bitcoin 'Not' 1' Most Traded Investment – Robinhood Markets (NASDAQ: HOOD)

Trading platform Robinhood Markets the hood From a strong base of young users and retail users to a platform that caters to all, Chief Brokerage Officer of a development company Steve Quirk to say from gasoline “Kind of exciting to see” during the 2024 HOOD Summit.

The Rise of Robinhood: With a long career in the trading world TD Ameritrade And CboeQuirk has seen trends come and go in the stock market.

“At Robinhood, our customers tend to be on the younger side,” Quirk said in an interview Friday, noting the average customer age is in the 30s.

Similarities exist between legacy trading firms and Robinhood, he says, but there are many differences that affect the latter's product development.

“The technology and products we roll out cater to our customers.”

At Robinhood, about 50% of self-directed trading is on mobile, which means most trading is done on the phone, Quirk said.

With the growth of retirement accounts and more sophisticated traders joining Robinhood, Quirk said the company has seen demand for mobile as well as web-based apps and platforms, leading to the company's new trading platform.

“We're attracting a lot of big customers from other brokerages.”

Quirk emphasizes the amount of effort Robinhood puts into researching and educating customers to create better tools and products so people feel comfortable switching their accounts to Robinhood.

“Education is important.”

HOOD Summit helped investors showcase their life-changing quirk stories through the Robinhood tools and investment platform, he said.

“These stories motivate you to keep delivering for customers.”

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Platform for everything: Recently announced a partnership with Robinhood Cboe Global Markets CBOE It will bring futures trading to customers, which Quirk says is one of the platform's most requested features.

“It's a natural,” Quirk said.

Futures' tax benefits and the fact that they operate around the clock are some of the reasons they are in demand from Robinhood customers, he said.

Offering stocks, options, futures and cryptocurrencies, Quirk highlighted the uniqueness of the Robinhood platform during his interview with Benzinga. Junaid Suleman Hood Summit in Miami.

“We're the only place in the United States where you can do that.”

Robinhood offers the ability to make recurring investments in any asset, including cryptocurrencies, Quirk said.

“The No. 1 traded and most recurring investment is Bitcoin,” he said, highlighting the leading cryptocurrency. Bitcoin BTC/USD.

Bitcoin has been Robinhood's top recurring asset for years and it shows that the platform has customers who are very passionate about cryptocurrencies, the chief brokerage officer said.

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Benzinger's Junaid Suleman interviews Robinhood's Chief Brokerage Officer Steve Quirk. Photo by Aaron Thomas.