Robinhood expands internationally with the launch of brokerage services in the UK

Claude Pascal
12 Dec 2023
Robinhood expands beyond the US with commission-free trading and high-yield interest on uninvested cash for UK customers, offering access to over 6,000 US-listed stocks and ADRs.

Robinhood has launched its brokerage services in the UK, marking its first expansion beyond the US.

UK customers will have access to over 6,000 US-listed stocks and American Depository Receipts (ADRs) at launch, with features including commission-free trading, high-yield interest on uninvested cash, extended market hours, and fee-free currency conversion between GBP and USD.

Robinhood aims to replicate its success in the US by sparking higher retail investment internationally. However, the company's revenue has recently declined, with transaction-based revenue falling 55% YoY in Q3 2023, possibly due to crypto bear market conditions.

Robinhood also faces macroeconomic challenges, including high inflation, rising interest rates, and tightening disposable income.

Despite this, the company has revealed ambitions to offer cryptocurrency trading in the EU pending regulatory approval, and currently holds over $3 billion worth of Bitcoin to custody user crypto balances in cold storage.

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