US neobroker Robinhood Markets (NASDAQ:HOOD) has announced that as of today its FCA regulated arm Robinhood U.K. Ltd is launching futures trading for UK clients, giving customers the ability to trade index, energy, metals, and foreign exchange futures directly in the Robinhood app and on Robinhood Legend. Customers can access 40+ CME Group futures products — including futures on the S&P 500, oil, gold, and more — with low fees, seamless mobile and desktop access, and one-tap ladder execution.
Robinhood UK added Options trading earlier this year.
Futures are exchange-traded contracts that represent agreements to buy or sell an asset at a specific price at a future date. Contracts are standardised in terms of the contract size, expiration date and hours of trading. They are available to trade nearly 24 hours a day across a variety of different asset classes including indices, energy, foreign exchange and metals.
Futures trading will be rolling out to eligible UK customers in the coming weeks — with a $0.75 contract fee per trade and real-time market data at no additional cost. Other costs such as regulatory fees and exchange fees apply.
Jordan Sinclair, President, Robinhood UK said,
“In the UK, futures trading has traditionally been seen as the preserve of institutional investors, with limited resources to help retail traders get started. 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.”
Julie Winkler, Chief Commercial Officer at CME Group said,
“Futures offer retail traders a fully transparent, cost-effective way to participate in some of the most liquid markets in the world. We are pleased to work with Robinhood to educate and empower their UK customers to access these new opportunities.”
The parties said that this is another important step on Robinhood’s journey to become the number one platform for active traders worldwide. The launch of futures adds to Robinhood’s suite of products for the UK’s active traders, which also includes options trading and Robinhood Legend, our advanced desktop trading platform.
