Third time’s the charm: Can Robinhood successfully make an international debut in the UK?
Share trading app giant Robinhood has announced that it will launch in the UK early next year after two previous failed attempts to expand beyond the US.
Britons can join Robinhood’s waiting list from today and soon be able to trade more than 6,000 US stocks 24 hours a day, five days a week with no commission, the company said.
The offering will not initially include UK stocks or derivatives, it is understood.
Robinhood unsuccessfully tried to launch in the UK in 2019, with more than 300,000 people signing up to a waiting list.
It last tried to expand into the country by acquiring London-based crypto-trading app Ziglu, but the deal was scrapped.
“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, Robinhood’s co-founder and chief executive.
“We look forward to continuing to engage with customers and policymakers as we expand our offerings in the UK.”
Earlier this year, Robinhood opened up job listings on Linkedin for a regulatory expert and an operations lead, as well as a UK chief executive.
Robinhood, founded in 2013, will compete with the likes of Interactive Investor, AJ Bell and Hargreaves Lansdown, as well as other apps such as eToro.