Overview

• Robinhood, the online investment app, is set to launch its platform in the U.K. in early 2024, marking the company's third attempt at international expansion.
• The U.K. version of the app will initially offer 6,000 U.S. stocks and 24-hour trading five days a week, with plans to add U.K. stocks and more products over time.
• Robinhood's previous attempts to launch in the U.K. were thwarted by increased domestic demand during the Covid pandemic and a failed acquisition of British crypto-trading app Ziglu.
• The company is launching with a license from the Financial Conduct Authority, the U.K.'s markets regulator, and plans to make money from securities lending, margin lending, interest on uninvested cash, and its premium Robinhood Gold subscription service.
• Despite facing criticism and regulatory scrutiny in the U.S., Robinhood's U.K. chief, Jordan Sinclair, believes the company is in a strong position to capitalize on the U.K. market, citing the company's 10-year experience in the U.S. and its developed and matured platform.