Share trading app Robinhood has announced plans to open in the UK.
It is a case of third time lucky for the US-based firm that shot to fame during the pandemic as a beneficiary of the “meme” stock craze.
Robinhood originally planned a UK launch in 2020 after opening a waiting list which attracted 300,000 prospective clients, according to the firm.
However, the launch plans were abandoned when its core US market saw a massive rise in activity.
In August 2022, Robinhood made a play for UK-based crypto trading app Ziglu, only for the 170 million dollars deal to fall through.
Robinhood has again opened a waiting list for would-be clients and plans to launch the app on a rolling basis over the next few weeks expected to be available by early 2024.
Users will be offered trading without FX fees, minimum account limit and extended trading hours and access to several US stocks.
“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,” says 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.”
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