FILE PHOTO: The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly/File PhotoLONDON : Trading platform Robinhood has"paused" its plan to lend to UK-based customers to allow them to make leveraged trades pending further talks with regulators, as it launches its UK business, the company said.
A spokesperson for the UK's Financial Conduct Authority, which oversees the UK financial services industry, declined to comment on the exemption or whether it remained in place for Robinhood. It will not charge commission fees or FX fees on trades, and will offer interest rates of 5 per cent on customers' uninvested cash, the company said.
Source: News Formal (newsformal.com)