Today marked the launch of Robinhood‘s previously announced brokerage services in the UK. The launch represents Robinhood’s first expansion beyond the U.S.
In its announcement, the company said UK customers will have access to over 6,000 U.S.-listed stocks and American Depository Receipts (ADRs) at launch. Features will include commission-free trading, high-yield interest on uninvested cash, extended market hours, and fee-free currency conversion between GBP and USD.
Robinhood aims to spark higher retail investment internationally as it did in the U.S. after pioneering its zero-commission, no-minimum-balance brokerage model in 2013. The company claims this innovation has, to date, saved its users billions in fees and helped boost U.S. household equity ownership by 27% between 2013-2022.
The international push comes even as Robinhood’s revenue has recently declined. In Q3 2023, transaction-based revenue fell 55% year-over-year, possibly owed in part to crypto bear market condition
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