Shortly after introducing new events contracts, Robinhood has launched futures trading for customers in the United Kingdom, marking a major expansion of its international offering.
Key Takeaways
- Robinhood launches futures trading in the UK.
- UK retail traders will have access to over 40 products, including the S&P 500 Index.
UK traders will be able to access more than 40 futures products from CME Group, including contracts tied to indices, energy, metals, and foreign exchange.
The new feature will allow users to trade through both the Robinhood app and its desktop platform, Robinhood Legend. Contracts will be standardized by size, expiration date, and trading hours, and will be available almost around the clock. The company also says it will charge a fee of $0.75 per contract, but will provide real-time market data provided free of charge.
The move brings futures, traditionally the domain of institutional investors, to retail traders, offering what Robinhood describes as a more accessible and transparent experience. Futures trading will roll out to eligible users in the coming weeks.
“In the UK, futures trading has traditionally been seen as the preserve of institutional investors, with limited resources to help retail traders get started,” said Jordan Sinclair, president of Robinhood UK, in a release. “Today, we start changing that. We’re introducing futures trading in the UK with an intuitive mobile experience, smarter tools, education and insights and some of the lowest fees in the industry.”
The UK launch also adds to Robinhood’s range of products aimed at active traders, which already includes stock options and advanced charting tools. The expansion is part of the company’s ongoing effort to establish itself as a global trading platform after its initial success in the U.S. retail market.
“Futures offer retail traders a fully transparent, cost-effective way to participate in some of the most liquid markets in the world,” added Julie Winkler, chief commercial officer at CME Group. “We are pleased to work with Robinhood to educate and empower their UK customers to access these new opportunities."
