All of that is true until it isn’t. Ask all the stock trading apps how Robinhood out-UXed them. When the out-user-experienceing happens, you pretty much will lose your entire business if you don’t undertake a paradigm shift. Stay ahead of the curve a bit.
I think it could be argued that Robinhood’s UX is a sort of feature on its own. Stock trading isn’t simple by any means, and Robinhood found a way to make it really approachable for everyone and that’s almost admirable. Everything else about their business sucks, but that one piece was truly impressive.
I’ve echoed this point a few times too. There’s a lot of apps that can barely figure out a todo-list (every glorified note take app/PM software), and here’s a company that boiled down Derivatives (with a capital D) trading in about two or three screens.
I’m personally impressed by how terrible the other trading apps are comparatively. Obviously they have more features etc but you’d think Vanguard & co. would try to follow in their footsteps.
Vanguard’s beta app, Beacon, is a step in the right direction, but I can already tell it won’t even compete with Robinhood’s design.
