In this independent review, we take a look at Robinhood, a US-based trading platform that has successfully launched in the UK. We look at Robinhood's key features, fees, pros and cons. We also take a look at possible alternatives including Interactive Investor*, Freetrade* and Trading 212.
What is Robinhood?
Robinhood is a US-based trading platform founded in April 2013. The company allows its US customers to trade stocks, ETFs, options and cryptocurrency. Margin trading is also available.
The platform soft-launched in the UK in November 2023, offering commission-free trading with no FX fees as well as the opportunity to earn 3.25% interest on uninvested cash. UK customers were added to a waiting list before the platform officially launched in the UK in March 2024. In early 2026, the platform expanded its UK offering to include a tax-efficient Stocks and Shares ISA.
The platform may be an attractive proposition for traders seeking low trading costs and those looking to invest in the US market. Since its launch, it has continued to roll out new features for UK users, including margin trading, options, futures and an advanced desktop trading platform
What are Robinhood's key features?
- Invest in more than 6,000 global companies listed on US markets
- Invest in fractional shares from just $1
- Stocks and Shares ISA
- Partake in margin trading with competitive rates starting from 5%
- Options trading from $0.50 per contract
- Futures trading from $0.75 per contract
- Commission-free trading on stocks
- No inactivity fees
- No account minimums
- FX fees as low as 0.10%
- Robinhood 24-hour market (Weekdays)
- Robinhood Learn
- $2.25mn protection for uninvested cash (versus £85,000 via FSCS)
- 24/7 customer service
- Stock Lending program to earn passive income
What products and services does Robinhood offer?
Robinhood UK has expanded its offering since its official launch in 2024. This includes the opportunity to invest in US stocks and fractional shares. The latter, in particular, has proved popular with the UK market. In fact, early data suggests that 70% of UK trades are for fractional shares while 30% are for whole shares. In addition, UK customers can now access its Stocks and Shares ISA, allowing them to invest up to £20,000 per year tax-free.
Beyond commission-free trading, Robinhood also offers a range of features to its customers. This includes Robinhood Legend, a browser-based platform offering real-time data and custom layouts. We explore these in further detail below.
Robinhood Stocks & Shares ISA
The Robinhood Stocks & Shares ISA is a low-cost option designed primarily for UK investors who want to trade individual US stocks. It offers a unique fee structure and incentives for early adopters, though it currently lacks the diversification found on more established UK platforms.
Key features
- Zero platform fees - There are no monthly subscription costs or annual management charges to hold the account
- No trading fees - You can buy and sell approximately 6,000 US-listed stocks and ADRs without paying a trading fee
- Low FX fees - At just 0.10% during market hours, it is currently the cheapest mainstream way for UK retail investors to access the US market
- 2% cash bonus - New eligible contributions made before 5th April 2026 qualify for a 2% match, provided the funds are held in the account for at least one year
- Fractional shares - Investors can start building a portfolio with as little as $1, making expensive US tech stocks more accessible
Robinhood 24 hour market
Typical trading hours in the US are between 9:30am to 16:00pm Eastern Time on Monday to Friday. The markets are closed outside of these hours. However, with Robinhood's 24 hour market, you can track and trade a certain number of selected stocks between Sunday 8pm ET and Friday 8pm ET. This is equivalent to Monday 1am BST and Saturday 1am BST.
To make use of the 24 hour market feature, head to the app or load Robinhood on the web browser of your choice, then select a stock in the 24 Hour Market list. Then:
- Click on Trade and select Buy or Sell.
- Select Dollars or Shares to view the order type options and choose whether you want to place a limit order or choose "trade now" to place a 24 Hour Market order.
- If applicable, set the limit price as well as trading hours when you want the order to execute, then select when the order should expire from the options available.
- Review the order and place it if you're happy with it.
The order should then execute based on your instructions.
Robinhood Legend
In mid-2025, Robinhood launched 'Legend', a desktop trading platform for UK users. It is designed for active traders, featuring advanced charting tools, real-time data with over 80 technical indicators, and the ability to view multiple charts at once. This tool in particular, moves Robinhood beyond being a simple app-only trading platform, allowing it to compete with more established desktop brokers such as Interactive Brokers, IG and XTB.
Robinhood's extended-hours trading
Robinhood's extended-hours trading works slightly differently from the 24-hour market option. Extended hours last from 7am-8pm ET on days when the market is open. This gives you the opportunity to trade stocks for an additional 6 and a half hours outside of normal opening hours. You don't have to select from the 24 hour market stocks list, instead you can pick whichever stocks you like for the most part. However, keep in mind that not all stocks will be available for fractional trading during Robinhood's extended-hours trading period.
During extended hours, you'll see the stock's last price on the exchange. Some people opt to make use of extended hours as they can make decisions on buying or selling based on foreign markets activity which operate outside of US market hours but can have an impact on the prices on US markets.
However, there are risks with this type of trading. For example, there are risks of higher volatility with greater price swings during extended-hours trading. This could result in getting a lower price when buying, or even a failure to execute the order in the first place. For a full list of potential risks to consider, take a look at the Robinhood website.
Robinhood Learn
Robinhood Learn offers a range of free articles for beginner investors looking to learn the basics. These are split into various themes, ranging from Investing 101 which covers simple topics like explainers about stocks, to themes like options trading which covers topics like getting started with options and risk management. You can view the entire Robinhood Learn library for free and get started on your investment journey.
What can you invest in with Robinhood?
With Robinhood, you can invest in more than 6,000 US exchange-listed stocks as well as American Depositary Receipts (ADRs) for more than 650 globally listed companies. You'll also be able to invest in fractional shares. Supported assets now include:
- US Stocks and ADRs
- Options contracts ($0.50 fee)
- Futures contracts ($0.75 fee)
- Fractional shares
While direct trading of UK-listed stocks on the London Stock Exchange is not yet live, many UK companies are accessible via ADRs. ETFs remain a limited part of the UK offering compared to the US version due to UK regulatory requirements, but the platform is actively expanding its asset classes
What is the minimum investment with Robinhood?
Robinhood allows you to start investing from as little as $1.
What are Robinhood's charges?
The table below breaks down the fees you can expect to pay if you choose to trade with Robinhood. Bear in mind that Robinhood will hold your funds in USD and as such, will be charged in USD. However, Robinhood has provided GBP equivalents for certain charges to help you gauge how much you're likely to pay. The exact amounts may vary as it will depend on the exchange rate at the time.
| Fee description | Fee |
| Commission fee (Robinhood) | FREE |
| Options contract fee | $0.50 |
| Futures contract fee | $0.75 |
| Regulatory Fee (Third party - for trades of $500 and above) | $27.80 per $1,000,000 of principal (sell only) |
| Trading Activity (Third party - for trades of 50 shares and above) | $0.000195 per share per share when you sell (rounded up to the nearest penny but not greater than $9.79) |
| FX fees (Standard) | 0.10% |
| FX fees (Out of hours) - During the weekend or specifically between Friday 17:00 ET and 21:00 ET | 0.30% |
| Margin trading (Robinhood UK) | From 5.0% (Gold) and 5.2% (Standard) |
How does Robinhood make money?
Robinhood doesn't charge commission fees on stocks. It makes money in the following ways:
- Interest on uninvested cash (retaining a portion of the interest earned from program banks).
- Margin interest from customers who borrow to trade.
- Robinhood Gold subscriptions (providing premium features for a fee).
- Contract fees on options and futures.
- Stock Lending, where Robinhood shares a portion of the revenue generated from lending your shares to other institutions.
How to open a Robinhood account
You could be eligible for a Robinhood account in the UK if:
- You're aged 18 and above
- You have a valid National Insurance number
- You have a UK-based bank account
- You have a UK-based home address
- You're a UK resident for tax purposes
- You're not a US citizen
To open an account, simply download the Robinhood app and submit an application. Alternatively, you can complete an application via the Robinhood website. You'll need to provide personal information like:
- Your name and address
- Your phone number (you'll need to verify it)
- Your National Insurance number
- Your date of birth
- Your citizenship
Once you've completed the application, you'll receive an email within a few days to let you know whether your application has been approved. In some cases, you might need to submit additional documents to verify your identity. This might include utility bills, your driving licence or passport page, or proof of your national insurance number.
If you need to submit a document, you'll receive further instructions on how to do this securely via the Robinhood app or a secure file portal. It can then take up to a week for the Robinhood team to review your documents and approve your application.
Once you're up and running, you'll be awarded anywhere between $7 and $175, which you can then use towards buying a "free" share. You'll be able to choose from a list of 20 US companies and you can buy a fractional share if you want.
What are the pros and cons of a Robinhood account?
Below, we've summed up the key pros and cons of a Robinhood account to help you decide whether it's right for you.
Pros
- Invest in more than 6,000 US stocks including fractional shares
- Stocks & Shares ISA
- No account minimums or inactivity fees
- Margin trading with competitive rates
- Pays 3.25% interest on uninvested cash
- $2.25mn protection for uninvested cash
Cons
- No SIPP
- No UK-domiciled mutual funds
- No UK stocks
- Low Trustpilot reviews
Robinhood customer reviews
Robinhood has an overall score of 1.3 out of 5.0 on independent customer review site Trustpilot, based on more than 4,000 reviews. Only 2% of respondents gave the platform an "Excellent" score, while 95% gave it a 1-star.
The few 5-star reviews speak about a seamless experience with the app and the free shares you get when you create an account. However, many of the 1-star reviews raise concerns about Robinhood freezing people's assets or restricting access to their accounts. There are also concerns raised about technical difficulties with logging in, as well as long holding periods before funds can be invested.
Robinhood FAQ's
Does Robinhood pay interest on cash held in its accounts?
Robinhood offers 3.25% interest on uninvested cash held with the platform. You can earn 3.25% AER on your uninvested cash in your Robinhood account, however the interest rate is subject to change.
Your uninvested deposits are also protected by Federal Deposit Insurance Corporation (FDIC) deposit insurance up to $2.25 million. You don't get FSCS protection, however, some investors see this as a positive, as FSCS protection only protects your deposits up to £85,000.
Is your money safe with Robinhood?
Robinhood is regulated by the Financial Conduct Authority (FCA) in the UK. Apart from FDIC insurance which protects your uninvested cash up to a total maximum of $2.25 million, Robinhood also offers Securities Investor Protection (SIPC). This protects your securities up to $500,000 if Robinhood goes out of business. In addition, Robinhood has purchased additional insurance for accounts held by Robinhood Securities which is designed to supplement the SIPC protection. This additional insurance kicks in if SIPC funds run out and provides a combined policy of up to $1 billion, which can be used to further compensate customers.
Neither the additional insurance nor the SIPC funds are designed to offer individual protection against market losses. Instead, they offer protection in the event that Robinhood folds. Because Robinhood is a US-based firm, UK's FSCS protection doesn't apply. However, some customers prefer the higher limits offered by the FDIC and SIPC schemes.
Robinhood alternatives
There are plenty of alternatives to Robinhood that you should consider. Below, we take a look at Interactive Investor, Trading 212 and Freetrade, three platforms that offer relatively low (or no) cost trading and the option to invest in US stocks.
Interactive Investor
Interactive Investor* offers a flat pricing structure and the opportunity to invest in US stocks. Costs start at £5.99 per month in addition to £3.99 per trade for UK and US trades. While Interactive Investor doesn't offer fee-free trades, it does come with the option to invest via an Individual Savings Account (ISA) and some customers prefer investing via the tax wrapper. You can read more about Interactive Investor in our independent review.
Freetrade
Freetrade* is a UK-based platform that offers commission-free trading via a General Investment Account, Stocks and Shares ISA and a Self-Invested Personal Pension (SIPP). Additionally, Freetrade pays up to 3.5% interest on up to £3,000 of uninvested cash.
Unlike Robinhood, Freetrade does charge FX fees on its US and EUR stocks, however, these can be reduced to 0.39% by upgrading to the Plus plan. Freetrade also offers a signup bonus and investors can receive a FREE SHARE worth up to £100* when they deposit at least £50 into a Freetrade ISA (capital at risk) or Freetrade basic account (capital at risk). You can read more about Freetrade in our independent review.
Trading 212
Like Robinhood, Trading 212 allows you to trade US shares and fractional shares. You also get access to zero commission investing so there are no platform fees or charges for trading shares. There are also no FX fees and you can earn up to 4.05% interest for uninvested cash held in GBP. But, unlike Robinhood, Trading 212 comes with additional perks such as zero-fee stocks and shares ISAs for customers who want to trade within a tax wrapper. You can read more about Trading 212 in our independent review.
Robinhood Summary: Should you use it?
Robinhood has quickly evolved from a simple US stock-trading app into a comprehensive platform for UK investors. With the addition of the Stocks and Shares ISA, Robinhood Legend, and Options trading, it now competes directly with established UK brokers such as Interactive Brokers, IG and XTB. Investors also benefit from enhanced deposit protection, as funds are protected by FDIC insurance up to $2.25 million. This could be attractive to those who find FSCS's £85,000 protection on the low side. Further, investors get 3.25% interest on uninvested cash which could appeal to those looking to earn interest on funds they're not ready to invest.
However, the platform is still in its infancy here in the UK and if you require a SIPP for retirement planning or want to trade UK-listed stocks directly on the London Stock Exchange, you may find that options like Freetrade* or Trading 212 or Interactive Investor* would better suit your needs
When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results.
If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Interactive Investor, Freetrade
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