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Robinhood set for 2020 UK launch

By Peter Walker

Commission-free investment platform Robinhood is set to launch in the UK early next year.

Since launching in the US in 2013, over six million Americans have signed up, getting access to over 3,500 US stocks and over 1,000 global stocks, with no foreign exchange fees and no account minimums.

The app also features news articles and videos, analyst ratings, earnings snapshots, candlestick charts, alerts and watchlists. A premium version offers more market data, in-depth research reports, and advanced tools, such as margin investing for experienced investors.

Robinhood UK has already received authorisation from the Financial Conduct Authority, with stocks and cash held by Robinhood Securities.

In July, Robinhood raised $323 million in a Series E financing, valuing the company at a $7.6 billion.

Just over a year ago, the company was forced to roll back plans to launch a current account after a stern warning from regulators. The Checking & Savings account was due to start mailing out it first debit cards in January 2019.

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