I've seen Robinhood mentioned briefly in a couple of threads, but I thought it was deserving of its own.
Robinhood is an online-only stock brokerage with $0 fees on trades of individual stocks. The start-up has been backed by Google Ventures and others, and is still in a waitlist beta mode. This is different than loyal3 as it should complete orders as they are received, rather than batch processing, and it should offer all US stocks on that major exchanges. The plan is to make money on margin trading and eventually premium service offerings, and keep costs low by avoiding brick & mortar stores, advisors, and advertising.
You can sign up for the waitlist through my referral link here:
https://www.robinhood.com/?ref=LeKTrVIf someone uses the link, please feel free to post your referral link below.
Anyone have access yet, or know someone that has access? I'm about 7,800 on the list, and am unsure if Robinhood is registered in Wisconsin yet. They plan to register in all states but I haven't found any recent info on that.
Here is a CNN article with some more info.
http://buzz.money.cnn.com/2014/05/17/robinhood-trading-app/