Many novice traders in the UK were looking forward to the UK launch of Robinhood, an investment app that claims to be democratising finance for millions of traders. However, after facing pressure from US authorities and politicians, the app has announced it will be delaying its UK launch.
Trading Apps
The main function of the Robinhood app, which has over 13 million US users, is to allow new traders to buy and sell financial products without depositing a minimum sum or paying commission.
The current waiting list for the app in the UK has over 250,000 people, many of whom were looking forward to the app being launched later this year.
Read More About Trading Apps Here
Individuals on the waiting list were greeted this week with a message from Robinhood explaining the app launch would be delayed.
The email read, “We’re saddened to share that we’ve made the difficult decision to postpone our UK launch indefinitely… We’ll be closing our waitlist and taking down our UK website shortly.
The world has changed a lot over the past several months and we’re adapting with it.”
Media Focus
The app, currently valued at $8.6bn, received a lot of media and political attention after a 20-year-old US user, student Alex Kearns, killed himself in June.
Kearns is believed to have killed himself due to mistakenly believing he had lost $730,000 (£575,000) on the app.
Kearns, unfortunately, seemed to misunderstand the app, due to lack of trading knowledge as his account was actually up $16,000 at the time of his death.
Robinhood has received approval from the FCA (Financial Conduct Authority) and was expected to launch in Spring 2020.
Although the launch delay is ‘indefinite’, there is hope for UK residents who plan to use the app as Robinhood also stated in their email;
“although our global expansion plans are on hold for now, we will continue our work to democratise finance for all and we look forward to the day when we can bring this mission to the UK.”
Existing Robinhood employees in the UK are expected to move to the US, while a team of skeleton employees will remain in the UK under the guidance of Wander Rutgers, former TransferWise executive.
Best Trading Apps
-
OANDA offers 70 forex pairs with two competitive pricing models and a substantial welcome deposit bonus
Mobile Apps
FxTrade, MT4
OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.
- Instruments
- Forex
- Regulator
- CFTC, NFA
- Platforms
- MT4
- Min. Deposit
- $0
- Min. Trade
- $0
- Leverage
- 1:30 EU, 1:200 Global
-
Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
Mobile Apps
iOS & Android
- Instruments
- CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
- Regulator
- CySEC, IIROC, NFA, CFTC, FCA, CIMA
- Platforms
- MT4
- Min. Deposit
- $100
- Min. Trade
- $1
- Leverage
- 1:200
-
The leading US trading Exchange. Nadex offer genuine exchange trading to global clients on Binary Options. Fully regulated by the CFTC.
Mobile Apps
NadexGO
- Instruments
- Binary Options, Knock Outs™, Call Spreads
- Regulator
- CFTC
- Platforms
- Own
- Min. Deposit
- $250
- Min. Trade
- $1
- Leverage
- -
-
Quotex offers a proprietary web platform that has digital options and trading signals.
Mobile Apps
iOS & Android
- Instruments
- Digital Options
- Regulator
- -
- Platforms
- Own
- Min. Deposit
- $10
- Min. Trade
- $1
- Leverage
- -
-
IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
Mobile Apps
iOS & Android
Forex trading involves risk. Losses can exceed deposits
- Instruments
- Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting
- Regulator
- FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
- Platforms
- MT4
- Min. Deposit
- £250
- Min. Trade
- 0.1 lots
- Leverage
- 1:30
-
Pocket Option is a global binary options broker with a sleek proprietary trading platform and competitive range of assets.
Mobile Apps
iOS & Android
- Instruments
- Stocks, Crypto, Commodities
- Regulator
- IFMRRC
- Platforms
- MT5
- Min. Deposit
- $50
- Min. Trade
- $1
- Leverage
- -
-
Moomoo is an app-based stock broker that offers trading in US, Hong Kong and Chinese shares. Clients can get started with a sign-up bonus and $0 minimum deposit.
Mobile Apps
Yes (iOS & Android)
- Instruments
- Stocks, Options, ETFs, ADRs, OTCs
- Regulator
- SEC, FINRA, MAS
- Platforms
- Own
- Min. Deposit
- $0
- Min. Trade
- No minimum
- Leverage
- -
-
Trading in the Uphold environment offers a one-stop-shop for all your crypto requirements.
Mobile Apps
iOS & Android
- Instruments
- Cryptos, Precious Metals, US Stocks, Environmental Assets
- Regulator
- FCA, FinCEN
- Platforms
- Own
- Min. Deposit
- $0
- Min. Trade
- $1
- Leverage
- -
-
M1 Finance offers customizable and automated trading services for US investors.
Mobile Apps
Yes
- Instruments
- Stocks, ETFs, OTC stocks
- Regulator
- FINRA, SEC
- Platforms
- Own
- Min. Deposit
- $100 ($500 for IRA)
- Min. Trade
- $1
- Leverage
- -
-
Gemini is a leading crypto trading exchange with low fees and 100+ cryptocurrency and altcoins.
Mobile Apps
iOS & Android
- Instruments
- Cryptos
- Regulator
- NYDFS, MAS, FCA
- Platforms
- AlgoTrader
- Min. Deposit
- $0
- Min. Trade
- 0.00001 BTC
- Leverage
- -
-
Kraken is a top-rated cryptocurrency trading exchange offering the largest tokens and altcoins by market cap.
Mobile Apps
Yes
- Instruments
- Cryptos
- Regulator
- FCA, FinCEN, FINTRAC, AUSTRAC, FSA
- Platforms
- AlgoTrader
- Min. Deposit
- $10
- Min. Trade
- Varies upon the crypto traded
- Leverage
- -
-
Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
Mobile Apps
Android & iOS
- Instruments
- Cryptos
- Regulator
- -
- Platforms
- Own
- Min. Deposit
- From 0.005 BTC
- Min. Trade
- 10 USD
- Leverage
- -
-
Pionex is a cryptocurrency exchange with impressive automated trading tools and bots.
Mobile Apps
iOS & Android
- Instruments
- Cryptos
- Regulator
- FinCEN
- Platforms
- Own
- Min. Deposit
- $0
- Min. Trade
- 0.1 USDT
- Leverage
- -
-
Binance is one of the leading online crypto exchanges offering Bitcoin.
Mobile Apps
Yes
- Instruments
- Cryptos
- Regulator
- FCA
- Platforms
- AlgoTrader
- Min. Deposit
- $0
- Min. Trade
- $10
- Leverage
- -
-
AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
Mobile Apps
Yes
- Instruments
- Forex, CFDs, indices, cryptocurrencies, commodities and stocks
- Regulator
- HCMC (Greece), FSCA (South Africa)
- Platforms
- MT4, MT5
- Min. Deposit
- $10
- Min. Trade
- 0.01 lots
- Leverage
- 1:30 EU, 1:500 Global
-
Revolut is a popular financial app that also offers trading on equities and digital currencies.
Mobile Apps
iOS & Android
- Instruments
- Stocks, Cryptos
- Regulator
- FINRA, SEC
- Platforms
- Own
- Min. Deposit
- $0
- Min. Trade
- $1
- Leverage
- -
-
World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Mobile Apps
iOS, Android + Web Browser
- Instruments
- Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
- Regulator
- SVGFSA
- Platforms
- MT4, MT5
- Min. Deposit
- $1
- Min. Trade
- 0.01 Lots
- Leverage
- 1:1000
-
Nexo is a crypto platform with a range of blockchain-based solutions, including trading, lending, borrowing, and payment cards.
Mobile Apps
iOS & Android
- Instruments
- Cryptos
- Regulator
- ASIC, FCEN
- Platforms
- Own
- Min. Deposit
- $10
- Min. Trade
- $30
- Leverage
- -
-
Zacks Trade is a US based brokerage, built for the active trader. Trade stocks, ETFs, bonds, mutual funds and more on a proprietary trading platform.
Mobile Apps
iOS & Android
- Instruments
- Stocks, Crypto, Options
- Regulator
- FINRA
- Platforms
- Own
- Min. Deposit
- $2500
- Min. Trade
- $3
- Leverage
- -
-
Coinmama is a popular cryptocurrency trading exchange, aimed at beginners and high-net worth investors.
Mobile Apps
Android only
- Instruments
- Cryptos
- Regulator
- FinCEN, FINTRAC
- Platforms
- Own
- Min. Deposit
- $30
- Min. Trade
- $30 to buy, $100 to sell
- Leverage
- -
-
IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.
Mobile Apps
iOS, Android and Windows
- Instruments
- CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
- Regulator
- SEC, FCA, IIROC, SFC
- Platforms
- AlgoTrader, OmniTrader
- Min. Deposit
- $10000
- Min. Trade
- $100
- Leverage
- 1:50
-
One of the largest discount brokers in the US, with a fixed trading commission and access to a large array of trading products and securities.
Mobile Apps
iOS & Android
- Instruments
- Forex, Stocks, Crypto, Futures, Options, Commodities
- Regulator
- SEC, FINRA, CFTC
- Platforms
- Own
- Min. Deposit
- $0
- Min. Trade
- None
- Leverage
- -
-
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.79% of retail CFD accounts lose money.
Mobile Apps
iOS, Android & Windows
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
- Instruments
- Crypto
- Regulator
- FCA, CySEC, ASIC, FSA
- Platforms
- Own
- Min. Deposit
- $10
- Min. Trade
- $10
- Leverage
- None
-
InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
Mobile Apps
iOS and Android + browser based platform
- Instruments
- Forex, shares, indices, metals, oil and gas, futures, cryptos, binary options
- Regulator
- BVI FSC
- Platforms
- MT4, MT5
- Min. Deposit
- $/€1
- Min. Trade
- 0.01 Lots
- Leverage
- 1:1000
-
Webull offers a popular online stock trading app with low fees and generous bonuses.
Mobile Apps
Yes
- Instruments
- Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs
- Regulator
- SEC, FINRA
- Platforms
- Own
- Min. Deposit
- $0
- Min. Trade
- $5
- Leverage
- -