Robinhood Successfully Launches Stock Trading Platform in the UK
Robinhood, the online investment app, is set to launch its platform in the UK in early 2024, marking its third attempt at international expansion. The platform will initially offer 24-hour trading for 6,000 US stocks, with plans to add UK stocks later. Options and derivatives will not be available at launch. Robinhood aims to capitalize on market-moving news and plans to be one of the largest employers in England. The company has obtained a license from the UK's Financial Conduct Authority and will hold customer cash in segregated accounts protected by US Federal Deposit Insurance Commission insurance. Robinhood will not offer payment-for-order-flow in the UK and expects to generate revenue through other means.
