US brokerage group Robinhood has received approval to offer options trading from the Financial Conduct Authority in the UK.
The company announced the news in its latest quarterly filings, which were published last week.
In a press release for the results, Robinhood said that it plans on launching options trading in the UK in 2025.
The broker has already rolled out a couple of features for UK clients in the last two months.
In September, the company launched share lending, with a revenue share option for clients. Last month the broker also launched a margin trading offering for shares.
The competition for UK options trading has heated up over the last 12 months. Webull now offers clients US equity options and IG Group has made a big push to launch its options trading product since going live with it properly in September.
Other firms, including CMC Markets, Plus500, and Spreadex, have also offered the product but via spread bets and CFDs on the underlying contracts.