Robinhood launches in the UK
Robinhood is rolling out its brokerage services in the United Kingdom – its first international market since launching in the US.
UK customers will have access to commission-free trading of more than 6,000 US-listed stocks and ADRs including TSLA, AMZN, and AAPL. At launch, Robinhood will offer trading without foreign exchange fees, trading outside of market hours with Robinhood 24 Hour Market, and no account minimums. Customers can build a portfolio for as little as $1 and grow their uninvested cash as they work out their investment strategy, earning 5% AER.
The company will grant access to its app on a rolling basis over the following weeks, reaching full availability in early 2024.
“Since we launched Robinhood a decade ago, it’s always been our vision to expand internationally. As a hub for innovation, global finance and top tech talent, the United Kingdom is an ideal place for us to launch our first international brokerage product. We look forward to continuing to engage with customers and policymakers as we expand our offerings in the UK.” – Vlad Tenev, CEO and co-founder of Robinhood.
“Our Global Investment Summit showed the world how we are rapidly becoming a Science & Tech Superpower and I’m therefore delighted that Robinhood have chosen the UK as its first international brokerage market. Financial services and FinTech are thriving in the UK, and are magnets for huge levels of investment and venture capital on to our shores which create jobs and spur innovation in our world leading tech sector.” – Minister for Investment Lord Johnson.
“For too long, UK investors have incurred high fees to invest in the US markets and earned low returns on their uninvested cash. We’re excited to give UK customers access to the Robinhood experience, remove unnecessary fees, and join our more than 23 million investors. Ahead of our general availability early next year, we’ll listen to feedback from customers and enhance the localised offering. This is just the beginning for Robinhood UK and our global ambitions.” – Jordan Sinclair, president of Robinhood UK.
