It looks like the notorious commission free brokerage app Robinhood is launching in the UK soon.
I have used it in the USA and I can tell you it’s miles ahead of the UK copycats. I wonder if they’ll bring the same features here or it’ll be limited.
I just saw this advertisement on my Facebook feed, they give out £100 for taking part in a user interview in London. I thought some of our community might be interested in the £££
Link to participate:
I’ve never used it. What would you say are the key aspects in which it is better?
Well, they were the first to come up with the concept.
It’s actually free as advertised, no monthly charges, no % management fees, no limits on number of trades which are all executed instantly (as opposed to batched at the end of the day).
They have a lot of stocks and index funds on it (maybe all the American ones?), not just a small selection. + cryptocurrencies.
UI and features richness, some automation and free options trading.
The Robinhood Gold subscription offers even more features and margin trading.
They are also very quick to develop new things.
The one thing they don’t have is offering fractional shares.
I’m not gonna do a 1-1 comparison on who doesn’t offer what, but you can have fun and get a little fintech game going to find out
So they’re interviewing in London…
waiting list is here…
Going to be interesting how this impacts the likes of Freetrade and T212
@vekariya17 me too. I wonder if it’ll actually be any better. It’d take a lot for me to move from FreeTrade to Robinhood
As an investor in Freetrade, i hope they can build the app to the level / features that Robinhood will launch with… I suspect some users will use both platforms or migrate across.
Afaik, you can’t currently transfer your investments out of Freetrade, you have to sell and buy again elsewhere. That friction probably works in Freetrade’s favour at the moment
For me it will come down to features and cost of the premium/free subscriptions…
will Freetrade Alpha or Robinhood Gold have better investing tools? If my requirements for investing are covered on the free subscription I wont move away from FT.
Out of curiosity (coming from an investing newbie), what requirements do you have for investing?
stop losses, 0% FX fee’s, limit order, alerts… key performance metrics etc.
Shame they currently don’t have a SUB.