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Robinhood to offer IRAs

Robinhood is rolling out retirement accounts for users of its mobile app, by offering a 401(k) like match to IRAs.

Robinhood will offer customers a 1% match on its traditional or Roth IRAs. Users can start investing on deposits of up to $1,000 before contributions settle into their accounts.  Customers will get 1% on IRA contributions up to the $6,500 limit.

The launch allows Robinhood to against brokerage giants, like Fidelity, Charles Schwab, and Morgan Stanley’s E*TRADE.

Full availability on this IRA offering is set to begin in January.

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