What Countries is Robinhood Available In?
Robinhood is only available to investors based in the United States. The platform, known for its zero-commission model, provides an array of financial services that include trading in stocks, options, ETFs, among others. However, these services are strictly limited to U.S. investors as Robinhood operates under licenses granted by U.S. regulators, namely FINRA and FinCEN.
Despite the global interest in Robinhood's disruptive financial services, the platform is currently restricted to U.S. territories due to specific licensing and regulatory requirements. Therefore, owing to these regulatory constraints, Robinhood's revolutionary trading platform remains inaccessible to investors outside the United States.
Can I use Robinhood Outside of the US?
While U.S. citizens and residents can access Robinhood's services from abroad, they may encounter specific restrictions or limitations. Nonetheless, Robinhood's platform is not available for sign-up or use by non-U.S. citizens as it is designed to cater exclusively to the U.S. market.
Will Robinhood Expand to the UK or Europe?
As of now, Robinhood has not disclosed intentions to broaden its reach to the UK or Europe. This is attributed to Robinhood's current licensing status, which is limited to U.S. regulatory bodies and does not include approvals from the Financial Conduct Authority (FCA) in the United Kingdom or the Cyprus Securities and Exchange Commission (CySEC) in Europe.
For Robinhood to venture into these markets, it would require adherence to local regulations, acquisition of requisite licenses, and tailoring of its platform to suit the specific requirements of investors in these regions.
What is the Top Robinhood Alternative?
For investors hunting for a reputable multi-asset broker outside the United States, eToro stands out as the top Robinhood alternative. Standing as one of the most expansive global brokerage platforms, eToro houses over 3,000 assets and serves a community of more than 30 million investors across the globe. With its intuitive interface and diverse investment options, eToro presents itself as an outstanding choice for those seeking a reliable alternative to Robinhood.
Who Owns Robinhood?
Robinhood Markets Inc is now a publicly listed company (NASDAQ: HOOD) with a public valuation of over $7.81 billion. The company was initially founded by Vlad Tenev and Baiju Bhatt and backed by large Silicon Valley venture capital firms such as DST Global, Sequoia Capital, a16z and Ribbit Capital.
In conclusion, Robinhood, a leading trading platform renowned for its zero-commission model, is currently limited to the U.S. due to its licensing and regulatory constraints. While U.S. citizens can access Robinhood from abroad, non-U.S. residents cannot use the platform. At present, Robinhood has not signalled any plans to expand its services to the UK or Europe.
For global investors seeking a similar platform, eToro serves as an excellent alternative. Robinhood Markets Inc, founded by Vlad Tenev and Baiju Bhatt, is a publicly traded company on the NASDAQ, backed by prominent venture capital firms in Silicon Valley.