One of the most popular crypto trading apps in America is quietly eyeing up the UK as its next destination, as it slowly ramps up hiring efforts in the country. RobinHood is a new breed of crypto trading platform and is totally free to use – something that appeals to a large number of crypto traders – this feature is one of the reasons it’s so popular in America. On top of free crypto trading, RobinHood also offers commission-free stock trading – something the bustling UK market will relish.
Filling Compliance Positions
RobinHood has been quietly filling positions for UK specific compliance officers and product positions in a bid to ensure it’s fully compliant with the Financial Conduct Authority (FCA). Similarly to the Winklevoss twins, RobinHood has also been talking to the FCA in order to achieve regulation and ensure it complies with all the latest regulations surrounding crypto and stock trading in the country.
Competition for Revolut
Revolut has been revolutionizing the way Brits bank and trade cryptos. It has been offering low-cost crypto trading for quite some time now, and RobinHood looks set to knock Revolut from the throne of low-cost crypto trading king. While Revolut charges a commission for crypto trading, it has very tight spreads. On the other hand, Robin Hood is totally free, but the spreads are a bit wider. When you boil down the numbers, the two apps work out to be very similarly priced – so pick carefully.
Low Cost Crypto Trading Taking Off
Crypto exchanges around the world have been lambasted for taking a massive cut of each trade placed on their exchange. This has forced many to reduce their pricing or even go completely free. Vertpig is one of those exchanges that has decided to buck the trend of fees and provides users with a completely free crypto trading experience. On top of offering zero fees, this new breed of crypto exchange are offering an improved user experience, with sleek user interfaces and easy to understand tutorials – something new crypto traders appear to be loving.
RobinHood hasn’t announced an official launch date for the UK, but it’s likely to be in the first half of 2019. It’s ramping up its hiring process and the UK could see one of the most popular crypto and stock trading apps finally become available. When it goes live in the UK, Coinbase will have some stiff competition and will need to step up its game in order to compete with the emerging low-cost platform.