Robinhood Trading App Launches in UK
Quote from VATcal on 19/03/2024, 14:10After two failed attempts, the commission-free trading app Robinhood has finally launched across the UK. This marks the company's first international foray after its rise to fame – and some infamy – during the meme stock frenzy of 2021.
UK investors can now trade on Robinhood, with access to over 6,000 US-listed stocks and fractional shares. The platform boasts the same commission-free structure it offers in the US, with no account fees or foreign exchange charges.
This launch comes after Robinhood's initial attempt in 2020 was thwarted by operational issues. In 2022, their bid to acquire UK crypto app Ziglu fell through as Robinhood prioritized its core US business.
However, this time around, Robinhood seems determined to make a splash. They've emphasized their commitment to listening to UK customers and plan to offer localized products and services in the future.
The UK investment market is already crowded with established players, so Robinhood faces an uphill battle. But with its user-friendly interface and commission-free trading, Robinhood could shake things up, attracting a new generation of investors.
One key difference between the US and UK offerings is the lack of cryptocurrency trading on the UK platform. This may be due to stricter regulations in the UK compared to the US.
Whats on offer:
Robinhood's main draw is its commission-free trading on over 6,000 US-listed stocks and fractional shares.
Additionally, Robinhood also offer these features:
- 24/5 trading: Trade certain US stocks extended hours, five days a week.
- No FX fees: Robinhood converts your currency to USD at a competitive rate with no added charge.
- 5% interest on uninvested cash: Earn interest on your idle cash within the app (subject to change).
After two failed attempts, the commission-free trading app Robinhood has finally launched across the UK. This marks the company's first international foray after its rise to fame – and some infamy – during the meme stock frenzy of 2021.
UK investors can now trade on Robinhood, with access to over 6,000 US-listed stocks and fractional shares. The platform boasts the same commission-free structure it offers in the US, with no account fees or foreign exchange charges.
This launch comes after Robinhood's initial attempt in 2020 was thwarted by operational issues. In 2022, their bid to acquire UK crypto app Ziglu fell through as Robinhood prioritized its core US business.
However, this time around, Robinhood seems determined to make a splash. They've emphasized their commitment to listening to UK customers and plan to offer localized products and services in the future.
The UK investment market is already crowded with established players, so Robinhood faces an uphill battle. But with its user-friendly interface and commission-free trading, Robinhood could shake things up, attracting a new generation of investors.
One key difference between the US and UK offerings is the lack of cryptocurrency trading on the UK platform. This may be due to stricter regulations in the UK compared to the US.
Whats on offer:
Robinhood's main draw is its commission-free trading on over 6,000 US-listed stocks and fractional shares.
Additionally, Robinhood also offer these features:
- 24/5 trading: Trade certain US stocks extended hours, five days a week.
- No FX fees: Robinhood converts your currency to USD at a competitive rate with no added charge.
- 5% interest on uninvested cash: Earn interest on your idle cash within the app (subject to change).
