Robinhood gets greenlight from FCA to launch trading app in UK
The commission-free stock trading platform, Robinhood, has set up a UK subsidiary, Robinhood International, which has been authorised by the Financial Conduct Authority (FCA).
The 2013-founded Silicon Valley start-up offers a cheaper way to buy and sell US stocks and shares, offering better prices than the New York Stock Exchange or Nasdaq to individual investors by routing orders to speedy traders.
“Today marks the beginning of a new chapter for Robinhood,” says Rutgers. “We’re excited to take the first important step towards bringing our investing platform to customers in the UK. I’m thrilled to be a part of Robinhood and our effort to expand into a new international market.”
Robinhood are likely to find more competition in the UK than they have in the US – most notably it’s said Australian challenger, Stake, is planning an upcoming launch in the UK.
Robinhood is yet to announce the launch date of the new London office, but it is looking for new employees in operations, user research, marketing and compliance.