Stock trading app Robinhood gets UK broker license
Commission-free stock trading disruptor Robinhood is bringing its app to the UK market, in a bid to further globalise its mission of “democratising the financial system”. Stock trading app Robinhood gets UK broker license.
A blog post on its website confirms the fintech has been granted full authorisation by the UK’s financial regulator, the Financial Conduct Authority (FCA), to operate as a broker in the country.
The launch date has not been revealed, but the hiring process for roles in London has already started as Robinhood takes the first “critical step” in its global expansion.
Investment App Robinhood Wins License to Operate in UK
Robinhood, a stocks, ETFs and crypto investment app, has been given the green light to operate as a broker in the U.K. Investment App Robinhood Wins License to Operate in UK.
Allowing the firm to now launch its offerings in the U.K. market, the firm’s subsidiary, Robinhood International, has received a broker’s license from the country’s financial watchdog, the Financial Conduct Authority (FCA), the firm announced on Wednesday.
With the news, Robinhood also revealed that it’s appointed former TransferWise exec Wander Rutgers as president to lead its U.K. operations from a new London office.
Robinhood Officially Starts in UK
Robinhood has been authorized by the Financial Conduct Authority, which regulates U.K. financial services, to operate as a broker in the U.K.
This authorization will enable Robinhoood to bring their investing platform to customers in the U.K.
Additionally, Robinhood announced that Wander Rutgers was appointed President of Robinhood International. He will lead the U.K. business and oversee our new London office. Wander has a deep background in fintech, joining us from Plum, where he spearheaded the investing and savings product. Before that, Wander led product, compliance, and operations teams at TransferWise, and was instrumental in expanding into new markets