After an unsuccessful attempt in 2020, the US-based neobroker Robinhood has officially introduced (launches) its brokerage services in the UK. The company views this expansion as a pivotal step in its mission to democratize finance worldwide and broaden access to the markets for everyone.

The decision to enter the UK market follows Robinhood’s strategic moves, including the recruitment of Freetrade EU head Jordan Sinclair as the new CEO for the UK and the posting of job opportunities in the country. In their Q3 results release a few weeks ago, Robinhood highlighted the UK and continental Europe as top priorities for expansion in late 2023 and into 2024.

Robinhood plans to roll out access to its app gradually in the UK over the coming weeks, with full availability expected in early 2024. UK residents can join the waitlist starting today and will receive notifications for early access sign-up. Moreover, participants on the waitlist will receive a unique referral link to share, allowing them to advance in the queue.

Robinhood Launches in the UK, Expanding Global Financial Access

From its establishment in 2013 to 2022, Robinhood witnessed a remarkable 27% increase in the average amount of financial assets held in equities per US household. In the corresponding period, the UK experienced less than a 1% increase. Robinhood envisions an opportunity to stimulate a similar shift in the UK, benefiting its over 23 million customers.

Vlad Tenev, CEO and Co-Founder of Robinhood expressed the company’s long-standing vision to expand internationally. He emphasized the UK’s status as a hub for innovation, global finance, and top tech talent, making it an ideal launchpad for their first international brokerage product. Tenev expressed eagerness to engage with customers and policymakers as the company broadens its offerings in the UK.

Moreover, Minister for Investment Lord Johnson welcomed Robinhood’s entry into the UK market, citing the country’s thriving financial services and FinTech sectors as magnets for substantial investment and venture capital. He sees this move as a testament to the UK’s status as a Science and tech Superpower.

Jordan Sinclair, President of Robinhood UK, highlighted the challenges faced by UK investors, such as high fees for investing in US markets and low returns on uninvested cash. Sinclair expressed excitement about providing UK customers with the Robinhood experience, eliminating unnecessary fees, and expanding the community of more than 23 million investors. He emphasized that the launch is just the beginning for Robinhood UK and its global ambitions.

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