We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Robinhood (HOOD) Launches UK Business, Pauses Margin Lending
Read MoreHide Full Article
As Robinhood Markets, Inc. (HOOD - Free Report) launched its trading app in the U.K., all customers in the nation will have access to its commission-free trading.
Using the Robinhood app, U.K. customers will now be able to access more than 6,000 global companies listed on the U.S. markets.
The trading platform is offering a wide range of services to U.K. customers, including a 5% interest on uninvested cash, trading outside of market hours, zero trading commission and no foreign exchange fees on trades.
In addition to these, the brokerage firm is launching rewards and referral programs.
Jordan Sinclair, the president of Robinhood UK, said, “We’ve been actively gathering feedback and engaging with customers since our waitlist launch at the end of last year, and have been so encouraged by the reception we’ve received thus far. Today’s general availability marks the start of a new chapter for Robinhood, and we’re excited to continue challenging the status quo by delivering more local products and services that resonate with our customers and meet their needs.”
While HOOD finally rolled out its trading app in the U.K., it has paused its plan of offering margin lending.
Robinhood had initially planned to offer margin investing to U.K. customers, which is a risky form of trading wherein customers borrow money to make bigger trades.
However, now, the plan is on hold. A spokesperson for Robinhood said, “Margin investing is paused as we continue to discuss with the regulator.”
Over the past six months, HOOD shares have gained 78.2%, outperforming the industry’s 13.1% rally.
Image Source: Zacks Investment Research
Currently, Robinhood carries a Zacks Rank #3 (Hold).
Over the past 60 days, the Zacks Consensus Estimate for NMR’s current fiscal-year earnings has been revised 43.5% upward. The stock has gained 44.9% over the past six months.
The Zacks Consensus Estimate for IBKR’s current-year earnings has been revised 3% lower over the past 60 days. IBKR shares have gained 19% over the past six months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Robinhood (HOOD) Launches UK Business, Pauses Margin Lending
As Robinhood Markets, Inc. (HOOD - Free Report) launched its trading app in the U.K., all customers in the nation will have access to its commission-free trading.
Using the Robinhood app, U.K. customers will now be able to access more than 6,000 global companies listed on the U.S. markets.
The trading platform is offering a wide range of services to U.K. customers, including a 5% interest on uninvested cash, trading outside of market hours, zero trading commission and no foreign exchange fees on trades.
In addition to these, the brokerage firm is launching rewards and referral programs.
Jordan Sinclair, the president of Robinhood UK, said, “We’ve been actively gathering feedback and engaging with customers since our waitlist launch at the end of last year, and have been so encouraged by the reception we’ve received thus far. Today’s general availability marks the start of a new chapter for Robinhood, and we’re excited to continue challenging the status quo by delivering more local products and services that resonate with our customers and meet their needs.”
While HOOD finally rolled out its trading app in the U.K., it has paused its plan of offering margin lending.
Robinhood had initially planned to offer margin investing to U.K. customers, which is a risky form of trading wherein customers borrow money to make bigger trades.
However, now, the plan is on hold. A spokesperson for Robinhood said, “Margin investing is paused as we continue to discuss with the regulator.”
Over the past six months, HOOD shares have gained 78.2%, outperforming the industry’s 13.1% rally.
Image Source: Zacks Investment Research
Currently, Robinhood carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks from the same space are Nomura Holdings, Inc. (NMR - Free Report) and Interactive Brokers Group, Inc. (IBKR - Free Report) . Both NMR and IBKR currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past 60 days, the Zacks Consensus Estimate for NMR’s current fiscal-year earnings has been revised 43.5% upward. The stock has gained 44.9% over the past six months.
The Zacks Consensus Estimate for IBKR’s current-year earnings has been revised 3% lower over the past 60 days. IBKR shares have gained 19% over the past six months.