Robinhood has expanded its service to allow UK retail investors to participate in US initial public offerings. Customers can now request shares in eligible IPOs directly through the app before the stocks start trading on public markets.
Users can review offering documentation within their existing accounts and request shares at the initial offering price. The company confirmed that no trading commissions will be charged for these transactions.
Since launching the IPO access feature in the US in 2021, Robinhood has participated in over 50 offerings. The firm has not yet disclosed which specific upcoming US IPOs will be accessible to its UK client base.
The announcement follows the company's third-quarter earnings report released in October. Robinhood recorded revenue of $1,42 billion and a net income of $476 million for that period.
