And finally… merry band of investors

And finally... merry band of investors

A Robin Hood statue has been erected opposite the Bank of England in London coinciding with the UK launch of the stock trading app named after the Sherwood character.

The eight-foot-tall Robin Hood statue is in a pose firing an arrow towards the central bank’s building. The symbolism reflects the company’s mission to challenge the traditional financial industry and provide accessible investment opportunities for all.

Now officially available to users in the UK, Robinhood’s platform offers no commission fees and no foreign exchange fees on trades, access to more than 6,000 global companies listed on US markets, rewards for signing up, and a referral program for friends and family.

Users also benefit from additional protection on their uninvested cash of up to $2.25 million (around £1.77m) in FDIC insurance compared to £85,000 in the UK. Additionally, uninvested funds will accrue interests worth 5% AER.

“We’ve been actively gathering feedback and engaging with customers since our waitlist launch at the end of last year, and have been so encouraged by the reception we’ve received thus far,” said Jordan Sinclair, president of Robinhood UK.

“Today’s general availability marks the start of a new chapter for Robinhood, and we’re excited to continue challenging the status quo by delivering more local products and services that resonate with our customers and meet their needs.”

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