Nov 30, 2023

0 Onlineinvestment app Robinhood has announced its impending launch in the UK,scheduled for early 2024. This marks the company's third attempt to expand inthe country. The zero-fee platform will offer users the option to trade from aselection of 6,000 U.S. stocks, including major companies like Tesla and Apple,with the convenience of 24-hour investing five days a week. Notably, the UKversion of Robinhood will initially exclude UK stocks, options, and otherderivatives. Robinhood Targets UKMarket with Third Launch Attempt JordanSinclair, Robinhood’s UK chief, anticipates the 24-hour trading feature to be asignificant draw for users, allowing them to respond promptly to market-movingnews. The platform aims to allow users to act on investment strategies and newsinsights without the typical market hour constraints. Robinhood'sprevious attempts to enter the UK market included a 2019 waiting list thatattracted over 300,000 sign-ups and a failed acquisition of Britishcrypto-trading app Ziglu. Despite these setbacks and a $12 million impairmentcharge from the Ziglu deal, the company is moving forward with its UK expansion for the third time . Robinhood is making its way to the 🇬🇧 with @Robinhood_UK ! UK residents: Join the waitlist and get set for around the clock access to US stocks and 5% interest rates on cash — protected up to $2.25M https://t.co/7ycKF12k5Q All investment involves risk, including loss of principal pic.twitter.com/hPLSNmixQm Robinhood'sTransaction-Based Revenue Declines in Q3 Meanwhile,the broker's total net revenue reached $467 million, marking a 29% increaseyear-over-year but a 4% decline quarter-over-quarter. The annual increase wasattributed to "higher net interest and other revenues, partially offset bylower transaction-based revenues." Furthermore,Finance Magnates reported two weeks ago that Robinhood has raised theinterest rate for its Robinhood Gold service , now offering a 5.0% Annual PercentageYield, the highest rate the company offers to date. Onlineinvestment app Robinhood has announced its impending launch in the UK,scheduled for early 2024. This marks the company's third attempt to expand inthe country. The zero-fee platform will offer users the option to trade from aselection of 6,000 U.S. stocks, including major companies like Tesla and Apple,with the convenience of 24-hour investing five days a week. Notably, the UKversion of Robinhood will initially exclude UK stocks, options, and otherderivatives. Robinhood Targets UKMarket with Third Launch Attempt JordanSinclair, Robinhood’s UK chief, anticipates the 24-hour trading feature to be asignificant draw for users, allowing them to respond promptly to market-movingnews. The platform aims to allow users to act on investment strategies and newsinsights without the typical market hour constraints. Robinhood'sprevious attempts to enter the UK market included a 2019 waiting list thatattracted over 300,000 sign-ups and a failed acquisition of Britishcrypto-trading app Ziglu. Despite these setbacks and a $12 million impairmentcharge from the Ziglu deal, the company is moving forward with its UK expansion for the third time . Robinhood is making its way to the 🇬🇧 with @Robinhood_UK ! UK residents: Join the waitlist and get set for around the clock access to US stocks and 5% interest rates on cash — protected up to $2.25M https://t.co/7ycKF12k5Q All investment involves risk, including loss of principal pic.twitter.com/hPLSNmixQm