The UK’s retail trading platform market has become increasingly competitive with the introduction of two new US ventures.
Webull Securities has debuted its retail brokerage service, enabling users to trade fractional shares in over 5,000 US-listed stocks through its online app. “We believe there is great potential in the UK and look forward to rapidly expanding our product range to cater to our customers in the region,” stated Webull CEO Anthony Denier.
Joining Webull is Public, a multi-asset investment platform, which is launching in the UK as its first expansion outside the US. The app provides trading in US equities along with data analysis and zero-commission trading. “London and the broader UK market has always been the financial epicenter of Europe, so it’s a natural place for Public to start our international expansion,” remarked Leif Abraham, co-CEO and co-founder of Public.
The online retail stock trading market saw significant growth during the Covid-19 lockdown, with platforms like Robinhood experiencing a surge in users and trading volumes. This trend has contributed to the increasing number of online platforms and apps that offer commission-free trading.
The potential of the UK online investment market was underscored by Abrdn’s acquisition of the platform Interactive Investor for £1.5 billion in 2022. It remains to be seen whether these new entrants can effectively compete in the crowded UK landscape, which includes established brokerages like AJ Bell and Hargreaves Lansdown, as well as fintech challengers such as Revolut.