A Massachusetts judge gave state securities regulators a green light to proceed with their case against Robinhood Financial, ruling that it wouldn’t be in the public interest to block an administrative hearing on allegations that the online brokerage doesn’t protect inexperienced investors.

Robinhood, the zero-commission trading platform that has exploded in popularity this year, asked a court last month to issue a preliminary injunction to prevent an administrative complaint brought by the Massachusetts Securities Division from proceeding. In its request, Robinhood argued that the state’s new fiduciary rule — which state regulators have accused Robinhood of violating — should be invalidated.