Robinhood stock and crypto "free" trading app to launch in UK

08 Jan, 2019 | Updated: 08 Jan, 2019
by Alberto Arnaldo
Exchange
Robinhood stock and crypto free trading app to launch in UK

Reports coming from Techcrunch are ensuring that Robinhood, the U.S. stock trading and crypto exchange app, is making plans towards opening up in the United Kingdom.

Trading “without fees” (although subject to a large spread, as free orders are only processed at the end of the day) is the main selling point of the Robinhood app, which already sparked much expectations when its launch on the US was being planned. The large spread in orders add an extra layer of risk when using this type of free trading services for highly volatile markets such as cryptocurrencies.

Read more: How does Robinhood make profit with zero-fee trading?

Techcrunch cites “sources within London’s thriving fintech industry” to assure that Robinhood is currently hiring for serveral U.K. based positions. These comprehend areas such as recruitment, operations, marketing, PR, customer support, compliance and product. Apparently, the recruitment tasks are being carried with the utmost discretion. 

When disembarking in London, Robinhood will have to face local competence Freetrade and Revolut.

Read more: Robinhood expands to AlaskaRobinhood potentially making half a billion dollars per quarter from their traders

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