Robinhood launched its brokerage services in the UK

Robinhood has launched its trading app in the United Kingdom, allowing all consumers to trade commission-free. Customers in the United Kingdom can now use the Robinhood app to access more than 6,000 worldwide companies listed on US stock exchanges.

The trading platform provides a variety of services to UK users, including a 5% interest rate on uninvested capital, trading outside of market hours, 0% trading commission, and no foreign currency expenses on deals. The brokerage firm will introduce incentive and referral programs. Additionally, it will offer trading services around the clock, five days a week.

Jordan Sinclair, the president of Robinhood UK, said, “We‘ve been actively gathering feedback and engaging with customers since our waitlist launch at the end of last year, and have been so encouraged by the reception we’ve received thus far. Today‘s general availability marks the start of a new chapter for Robinhood, and we’re excited to continue challenging the status quo by delivering more local products and services that resonate with our customers and meet their needs.”

However, the broker faced further difficulties when it removed margin trading facilities from its UK offers hours after the launch. “Margin investing is paused as we continue to discuss with the regulator,” a spokesperson for Robinhood told Reuters.

About Robinhood

Robinhood is a pioneering online brokerage that enables its customers to buy and sell US stocks, ETFs, options, and cryptocurrencies with zero commission. Founded in 2013, the company has quickly become one of the most innovative and talked-about players in the fintech industry, attracting millions of customers with its transparent and user-friendly approach to investing. However, WikiFX has given this broker a low score of 1.47/10. Traders need to be aware of the potential risk.

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