UK customers can now trade US stocks via Robinhood brokerage without extra commission or foreign exchange fees.

A US-based stock and crypto asset brokerage platform Robinhood has expanded its service to the UK, opening the waitlist for local investors eager to access the US stock market.

British Embassy in the USA welcomed the fintech, stating Robinhood’s choice of the UK as its first international brokerage market “marks another vote of confidence in the UK as a place for leading global fintech businesses.”

The scope of services available in the UK at launch will include trading over 6,000 US stocks and American depositary receipts (ADRs) with a minimum investment of $1. There are currently no crypto trading offers at Robinhood’s regional app.

Transactions on Robinhood UK shall incur no commission or foreign exchange fees. However, other costs such as regulatory fees may apply to any brokerage accounts.

Another advertised benefit of Robinhood platform trading in the UK is a 5% annual equivalent rate (AER) on uninvested cash deposited to an in-app account. The funds can be withdrawn anytime. Besides, up to $2.25M deposits are protected through FDIC.

As for the legal side of the trading, Robinhood UK is authorised and regulated by the Financial Conduct Authority. At the same time, order routing, execution, clearing, settlement, arranging custody services and margin lending are performed by Robinhood Securities, LLC, which is?regulated in the U.S. by the SEC and FINRA.

UK launch might become a first step towards further international expansion of Robinhood services. It was earlier reported that the company intends to start cryptocurrency trading activities in the European Union after a successful similar experience in the UK.

The move to European markets reflects Robinhood’s efforts to boost the declining profitability and growth. This month, it became public knowledge that tech giant Alphabet sold 90% of its stake in Robinhood quite around the time when the brand reported a 3 million reduction in its base of monthly active users, while the company’s revenue from cryptocurrency trading also fell by 55% year-on-year.