Robinhood launches in the UK

Robinhood are rolling out brokerage services in the United Kingdom. UK customers will have access to commission-free trading* of more than 6,000 US-listed stocks and ADRs including TSLA, AMZN, and AAPL. Their expansion to the UK marks an important milestone in their journey to democratise finance around the globe and increase access to the markets for all.

At launch, they will offer trading without foreign exchange (FX) 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.

They will grant access to their app on a rolling basis over the following weeks, reaching full availability in early 2024. UK residents can join the waitlist today and will be notified when they can sign-up for early access. After joining the waitlist, people will get a unique referral link to share with friends and family to move up the queue.

Robinhood pioneered the commission-free, no-account-minimums investing model in the United States, improving access to the stock market for tens of millions of retail investors and saving them billions of dollars*** in fees in the process. From their founding in 2013 to 2022, the U.S. experienced a 27% increase in the average amount of financial assets each household holds in equities. During this same period, the UK experienced a less than 1% increase.**** Robinhood see an opportunity to spark a similar shift, just like they did in the U.S. for more than 23 million customers.

“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,” said Vlad Tenev, CEO and Co-Founder of Robinhood. “We look forward to continuing to engage with customers and policymakers as we expand our offerings in the UK.”

“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,” said Minister for Investment Lord Johnson. “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.”

“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,” said Jordan Sinclair, President of Robinhood UK. “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.”