Stock trading app Robinhood will allow customers to use AI agents on the platform, the company said, including allowing customers’ AI agents to perform as an automated stock trader and make purchases on a virtual credit card ‘on your behalf.’
Key Facts
- Robinhood will allow customers to open dedicated agentic trading accounts separate from their standard accounts—allowing their AI agents to autonomously buy and sell stocks with the funds they have access to.
- Users can pause this autonomous trading at any time, according to the company, and preview trades made by their agents when asked.
- The agentic trading feature is launching in a beta release, the company said, and will initially only support equities trading with trading in options, crypto, event contracts and futures coming in later releases.
- The stock trading platform will also allow users to use agents to “spend on your behalf” by making payments on a virtual credit card for holders of the Robinhood Gold Card.
- Robinhood said users could set spending limits for their agents, or opt in to require manual approvals any time an agent tries to make a purchase.
Forbes Valuation
We estimate Robinhood founder Vlad Tenev’s net worth at $4.6 billion, making him the 924th wealthiest person in the world as of Wednesday morning. Tenev’s fortune was built primarily through the success of Robinhood, which exploded in popularity with retail investors during the COVID-19 pandemic and continued expanding into other businesses, including cryptocurrency and prediction markets. “Our mission has always been to democratize finance for all, and now, that mission extends to AI agents,” Tenev said in a statement on Wednesday.
Tangent
Other parts of the finance world have also been pushing to integrate AI agents into their businesses. In March, Trust Wallet, the cryptocurrency wallet app owned by Binance founder and billionaire Changpeng Zhao, announced similar agentic AI features to autonomously buy and sell cryptocurrency.
This story was originally published on forbes.com and all figures are in USD.
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