Robinhood on Tuesday announced an individual retirement account offering that will provide customers a 1% match and access to stocks and exchange-traded funds, with no commissions or account minimums.
The investing app, on its blog, offered the Robinhood Retirement waiting list for the accounts, which the company said were the only IRAs to offer a match on contributions. Investors can choose a traditional or Roth IRA and build a custom portfolio using in-app recommendations, their own choices or a mix, the firm said.
Investors can sign up to apply for early access and will receive approval on a rolling basis over the following weeks, with full availability in January, according to the post. They can achieve earlier access to a retirement account by referring a friend who signs up.