Robinhood, the well-known trading app from the US, is preparing to bring commission-free stock trading to the UK and change the investment landscape.
The well-known Silicon Valley company Robinhood, known for its cryptocurrency-friendly policies, intends to replicate its US success in the UK by cutting costs. CEO Vlad Tenev plans to implement a fee-cutting plan that is similar to the US model that existed before the pandemic.
With features like 5% interest on capital that remains uninvested and no trading costs, the UK launch is anticipated to take place in 2024 and will be overseen by the Financial Conduct Authority. This will appeal to investors of all sizes.
Robinhood’s UK equivalent, which defies conventional brokerage standards by offering commission-free access to over 6,000 US-listed stocks and 24-hour trading, initially catered to US equities.
This calculated action places Robinhood in opposition to regional rivals like Revolut and Freetrade and is consistent with the company’s 2019 worldwide development goal. Tenev emphasizes Robinhood’s distinct edge over traditional institutions for global expansion while highlighting its technology focus.
Beyond traditional equities, the platform is expanding its products by preparing for the launch of cryptocurrency trading in the European Union.
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