The fintech startup shook up E-Trade and other online brokers with its free stock trading model, but faces challenges ahead as JPMorgan Chase enters the free investing space.

The Robinhood app for free stock and ETF trading launched three years ago.

The average age of Robinhood app users is 28, with many drawn to its newer products for free crypto trading and free options trading.

After its latest funding round, Robinhood is valued at $5.6 billion, up from an estimated $1.3 billion last year.

Its rapid growth follows expansion into trading on margin with a premium subscription product called Robinhood Gold.

Shares of E-Trade fell 0.8% in Friday’s stock market trading after plunging below the 200-day moving average in massive volume Thursday.

JPMorgan, which is launching its own free trading app, rose 0.2% to 114.32 as it eyes a 119.43 buy point.