Robinhood (NASDAQ:HOOD) has launched options trading in the UK.
Jordan Sinclair, President of Robinhood UK, said that options trading in the UK has been historically difficult due to high fees and complicated platforms. Their service is said to be both affordable and accessible for their users in the UK.
“This is yet another step forward in our journey to expand access and empower investors across the UK.”
Robinhood said they plan to continue adding new products and features for UK customers, including ISAs, and other tools and features.
As for options, contracts are now available for stocks and indices. Options trading can be used either to speculate or to hedge other investments.
Robinhood has posted educational resources to assist users with learning about options.
Trading options will be free during an initial promotional period ending in May. After that, options contracts will start at a £0.50 fee.
Robinhood UK, a subsidiary of Robinhood Markets, is authorized and regulated by the Financial Conduct Authority.
