Robinhood Unlocks Zero-Fee Crypto Trading in UK via Bitstamp

Robinhood has launched zero-fee crypto trading in the UK through its partnership with Bitstamp. The move adds over 50 cryptocurrencies, including Bitcoin and Ethereum, to the platform's offerings. This development comes after Robinhood secured registration from the Financial Conduct Authority (FCA), allowing it to operate legally in the UK.

The all-in-one app will charge no trading fees, account maintenance fees, or custody fees for eligible customers. However, users must pay a 0.1% foreign exchange fee, which could increase to 0.3% for certain weekend conversions. It's worth noting that crypto holdings through Bitstamp UK are not covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service.

The launch of crypto trading in the UK is seen as a major expansion for Robinhood, which has been focusing on growing its broader crypto ecosystem. The move may also boost the company's revenue from crypto transactions, particularly given the recent surge in HOOD stock price following its Q2 earnings report.