With the ever-evolving landscape of investing and new technology surging, more people are looking for simpler solutions to manage their investments. In particular, Robinhood—the US online broker—has become increasingly popular in digital trading due to its user-friendly interface and zero-commission trades from a smartphone or tablet app. While it is currently only available within the US borders, there has been increasing speculation about whether Robinhood will expand its services into other countries sometime soon. In this blog post, we will explore if Robinhood is coming to the UK anytime soon, discussing what can be expected when (and if) they arrive on British shores in 2023.
What Is Robinhood?
Robinhood has revolutionized the investment industry, empowering a new generation of investors. Since its founding in 2013, the mobile and web-based trading platform has gained immense popularity for allowing users to purchase stocks, ETFs, options, and cryptocurrencies with zero commission fees – all through a simple user interface! In this way, Robinhood makes buying & selling investments effortless for both beginner and experienced traders alike.
Robinhood is a user-friendly platform that offers fractional shares, allowing users to invest in even the most expensive stocks. Their investment resources, such as their learn page, provide ample educational materials for investors to assess and weigh their options before investing properly. Furthermore, they offer cash management accounts with access to 75,000 ATMs worldwide through debit cards. These accounts also boast high-yield savings features backed by FDIC insurance up to $1.25 million – so you know your money is safe!
Is Robinhood Available in the UK?
As of now, Robinhood’s services are unavailable in the United Kingdom. Still, with their intent to go global and reports pointing toward exploring a launch into UK markets and beyond, this may soon change!
Nevertheless, launching in a new country carries several regulatory obstacles that Robinhood would have to conquer. For instance, the UK’s financial regulator – the Financial Conduct Authority (FCA) – must endorse Robinhood’s operations before entering the market. Additionally, due to certain UK-specific regulations and mandates, Robinhood may need additional time and resources to adjust its platform accordingly.
Additionally, even if Robinhood eventually launches its platform in the UK, it may provide different features or services than its US version due to regulations and market conditions that vary across countries. For instance, as the United Kingdom’s investment sector is strictly regulated compared to America’s standards, Robinhood must abide by stricter investor protection rules while offering an array of alternate investments.
Best Robinhood Alternatives Available in the UK:
There are several investment platforms available in the UK that offer similar features and services to Robinhood. Here are a few alternatives to consider:
eToro is an exceptional social trading and investment platform allowing users to trade stocks, ETFs, cryptocurrencies, and other assets without paying any commissions. With fractional shares available and a user-friendly interface that allows you to copy successful trades of traders who have mastered the market – all in one place – it’s no wonder why so many people are choosing eToro as their go-to investing resource.
Trading 212 is the ultimate online platform to trade stocks, ETFs, forex, and cryptocurrencies. Not only does it offer commission-free trades, but you can also buy fractional shares – something impossible with most trading sites! This incredible site provides traders with a full suite of tools for success, including comprehensive educational resources.
Investing for free has never been easier than with Freetrade, the mobile app-based investment platform. With no commission fees and fractional shares available, users gain access to stocks and ETFs from a simple user interface. Plus, you’ll find a wealth of educational resources at your disposal!
IG is a premier trading platform in the UK, allowing users to trade stocks, ETFs, Forex, and additional assets without commission. Alongside this benefit, they offer investors an array of indispensable investing tools and informative resources to assist them on their journey toward success!
UK-based Hargreaves Lansdown is a one-stop shop for all your investment needs, providing stocks, ETFs, and funds to choose from. In addition to its competitive pricing structure, it also offers an abundance of educational materials tailored to the individual user’s level of knowledge. You won’t be left wanting with this comprehensive wealth-building platform!
Overall, Robinhood is a great trading platform and provides investment opportunities available to everyone. Of course, investors in the UK may not be able to invest directly through Robinhood. But thankfully, there are some alternative Robinhood options that UK investors can explore. UK investors need to do their due diligence and research any broker before trading with them. Understanding the fees, rules, and processes associated with trading through these brokers is essential for achieving investment success. Hopefully, this article has shed some light on the different alternatives to investing in the US via Robinhood and will help UK investors decide which option best fits their needs.