Robinhood gets UK broker authorisation

Commission-free stock trading app Robinhood has been authorised by the Financial Conduct Authority (FCA) as a broker in the UK.

The US FinTech has yet to give a date for its formal launch, but is currently hiring for several roles in London across compliance, operations, user research and marketing.

It has also appointed Wander Rutgers to lead the UK business, bringing his experience from senior roles at savings app Plum and cross-border payments unicorn TransferWise.

“Today marks the beginning of a new chapter for Robinhood, and we’re excited to take the first important step towards bringing our investing platform to customers in the UK,” he commented.

The FCA approval follows UK digital challenger bank Revolut announcing plans last week to launch its own commission-free stock trading service across Europe, starting with a gradual roll-out to a select group of its Metal card customers.

Last month, Robinhood announced a $323 million Series E financing round, valuing the company at a $7.6 billion, led by DST Global, with participation from Ribbit Capital, NEA, Sequoia and Thrive Capital.

    Share Story:

Recent Stories

New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.