Well, Robinhood is finally available in the UK, and if you’re a new customer, you can claim a free share (stock) worth between $7 and $175. I’ll share my promo code with you and take you through the steps.
My Robinhood promo code: peterc-32ae079 or click on the button below. And why not take a look at other sites you can find free shares?
Who is Robinhood?
Robinhood is a popular commission-free trading platform that has revolutionised the way people invest in stocks, ETFs, options, and cryptocurrencies. Launched in 2013, it quickly gained traction for its user-friendly interface and accessibility, particularly among younger investors. In 2024, it was finally released in the UK.
Is it safe?
Robinhood is regulated by the Financial Conduct Authority (FCA), meaning it’s a legitimate company and is closely governed in the UK.
Why choose Robinhood?
One of Robinhood’s key features is its simplicity: users can buy and sell securities with just a few taps on their smartphones, making it appealing to those new to investing. Additionally, Robinhood offers fractional shares, allowing investors to buy a portion of a stock rather than a whole share, which can be beneficial for those with limited funds.
However, it’s important to note that while Robinhood offers commission-free trades, it does generate revenue through other means, such as interest on cash and margin lending, as well as selling order flow to market makers.
How to claim your free share
Claiming your free share is a pretty simple process. I would suggest signing up from your phone, as you will need to take a photo of your official ID and a selfie. However, if your computer has a webcam, you can do it from there.
Once you’ve followed the link, you will need to create an account. This involves providing contact details such as an email address, home address and a mobile number which you will need to confirm.
You will need to complete your National Insurance number and complete a tax certification. This sounds more scary than it is. Basically, if you are British and live in the UK, you agree to use the W8-BEN form – meaning you don’t pay tax to the US authorities. When asked, state that you want to take advantage of the UK-US tax treaty.
Then, it’s on to confirming your ID. This involves taking a photo of your passport and driving licence, using the outline shown on your screen. Next is a selfie and moving your head to the left and right. If everything goes well, your account should be confirmed within a couple of minutes.
Once that confirmation email is in, you’ll need to fund your account with at least £1. When you do, your deposit will be converted to US dollars.
After that money hits your account, visit the rewards section in the top menu. Then, click on the ‘See Past Rewards’ button a little further down.
You will see bonus stock and a claim button.
Click claim and you’ll be told how much money you’ll get to put towards your free stock. Then, it’s a case of choosing which stock you want to put your money towards.
Can you sell the free share?
You can sell your free share after three trading days. However, you can only withdraw the cash from the sale of your share to your bank account after 30 days.
Don’t forget to refer others
In your account, you’ll find your own referral code. Share with others and you could earn up to $1,500 in free shares per year.
What are your chances of winning the big prize?
Not great, I’m afraid. The vast majority will earn a free share worth between $7 and $8.
| Free share value | Reward probability |
| $7 to $8 | 96% |
| $8 to $15 | 2% |
| $15 to $25 | 1% |
| $25 to $50 | 0.90% |
| $50 to $175 | 0.10% |