By Lucy Kenningham
US share trading app giant Robinhood is preparing to target British investors, The Telegraph has reported.
The company is best known for its association with so-called “meme stocks”.
These are stocks popular with younger investors that are discussed on social media platforms such as Reddit and Instagram.
The company has recently opened up job listings on Linkedin for a regulatory expert and an operations lead, as well as a UK chief executive.
According to regulatory filings it is planning a launch before the end of the year.
Robinhood was founded in 2013.
Their entrance into the market comes at a time when there has been a downturn in interest from the levels of interest in day trading shares seen during the pandemic.
Robinhood will compete against the likes of Interactive Investor, AJ Bell and Hargreaves Lansdown, as well as social trading apps such as etoro.
