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I don't think Robinhood can even compare to the tools offered by Schwab's brokerage accounts. It's like r/wallstreetbets vs r/investing

I do agree that Robinhood was the first to make trading accessible to the masses and pushed for zero-fee trading.

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What percentage of the users at Schwab use the premium tools, my guess is somewhere between 1-10% ? Does Schwab earn disproportionate revenue from them ? If yes, then I can see your point but as someone below points out most brokerages make money off balances carried in the brokerage accounts. That makes Robinhood (and the likes of it ) valuable since it's more about monthly active users. My point is user base growth has been stagnant with traditional brokerages, whereas fintech upstarts are on a tear. That combined with other revenue vectors e.g. crypto trading, SIPC insured bank accounts etc. make it difficult for traditional brokerages to compete

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