Crypto and stock exchange platform Robinhood has made its trader networking service Robinhood Social live for beta testing. On Wednesday, the platform said, this service will eliminate the need for traders to rely on social media to navigate market conditions.
Robinhood Social will be made available within the main exchange interface. It will offer real-time updates on verified trades and authentic trader profiles for community members to follow and learn market participation.
As part of its beta testing, the service has been made live for 1,000 individuals who were among attendees of last September’s HOOD Summit that was held in Las Vegas, U.S.
“Beta allows us to learn quickly and build thoughtfully, prioritizing quality, trust, and feedback from our most active traders,” said Abhishek Fatehpuria, VP of Product Management at Robinhood.
Testers will be able to create their custom profiles, share market suggestions, discuss investment strategies, and see the performance of other traders.
Source: Robinhood
In the next phase of this beta testing, the service will expand to 10,000 customers over the coming weeks. Robinhood will be contacting the select beta testers directly informing them about their participation guidelines.
“With Robinhood Social, customers will be able to follow other Robinhood traders, swap strategies, discuss market moves, and trade with clarity. Plus, they can trust that every customer profile belongs to a real person, verified through KYC,” the announcement noted.
For now, Robinhood has not committed to a definitive timeline to commercially roll out its Social feature. It said the wider roll out can be expected upon thorough testing.
The platform had first announced its plan to launch this service in November last year.