Robinhood has extended its IPO Access service to the UK, allowing eligible customers to request shares in US initial public offerings at the offering price before trading begins. Requests are non-binding, and allocation is random or demand-based, so customers may receive limited quantities or no shares when an offering is oversubscribed. There are no minimum account balances or purchase sizes, although certain accounts, including some retirement accounts, may be ineligible. Robinhood launched the service in the US in 2021 and reserved up to 35% of its own IPO shares for retail investors. Fully rolled out in the UK by March 2024, the platform also offers commission-free access to thousands of US-listed stocks without foreign exchange fees, alongside options, futures, margin and crypto trading.
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