Members of the r/Robinhood subreddit decried the firm's slow rollout of the buzzy new feature in a post on Wednesday. The company announced its fractional trading service on December 12, though the program is in "early access" with more than 1.2 million users on its waitlist, according to the Robinhood app., allowing clients to immediately trade slivers of shares without a waiting list.
"Robinhood, if you're looking at this: this is what happens if you delay and waitlist everything. It's not gonna generate hype, just cause us to move to other platforms," another user wrote.Everyone from Robinhood to Fidelity is hyping fractional share trading — here's why they want to get you hooked on $1 slices of stocks
The company took on an early-mover reputation as older firms rushed to offer similar products, but with most brokers, Robinhood faces new competition from the services it sought to replace.