Robinhood Free Stock UK: Claim Up to $175 When You Open an Account

No. Robinhood UK’s free stock offer does not use a promo code. The reward comes with a new brokerage account opened through Robinhood’s free stock page or a friend’s invite link, once you are approved and have made a deposit.

$7 to $175, after 30% US withholding tax. Robinhood says about 96% of rewards are $7 to $8, roughly £5.25 to £6. The odds for the rest are 2% for $8 to $15, 1% for $15 to $25, 0.9% for $25 to $50 and 0.1% for $50 to $175. On our estimate, the average reward is about $8.

Yes. You pick from a list of 26 companies: the two largest S&P 500 companies in each of the top 13 sectors by market value. The company you pick does not change the value of the reward, and Robinhood may not hold every stock on the list.

Yes. Your account must be approved, you must link a UK bank account and you must complete a deposit in pounds. Robinhood does not publish a minimum amount for the offer. If a friend invited you, the deposit must be made within 14 days of approval. The deposit stays yours.

No. Robinhood’s terms exclude the Stocks and Shares ISA. Open a brokerage account to claim the reward. You can open an ISA alongside it.

You can sell it after you claim it. To withdraw its cash value, the value must stay in your account for 60 days after you claim. After that, there are no restrictions on withdrawing the proceeds.

Robinhood deducts 30% US non-resident withholding tax from the reward’s value when you claim it, and the amounts it publishes, such as $7 to $8, are what is left. In its example, a $7 reward is $10 before tax, with $3 withheld and reported on IRS Form 1042-S.

Not the new customer reward, but you can invite friends who are new to Robinhood UK. Each friend who is approved and funds their account earns you five fractional share rewards, up to $1,500 of stock per household per calendar year, including other offers.

Robinhood says the stock is credited about one week after you claim it, though it can take longer.

Robinhood U.K. Ltd is authorised and regulated by the FCA (firm reference number 823590). Your shares are held by Robinhood Securities, LLC in the United States, so FSCS protection does not apply. SIPC protection covers up to $500,000 if that US firm fails. As with any investment, the value of your holdings can fall. Our Robinhood UK review covers safety in more detail.

Robinhood says taxes on rewards are your responsibility. The US withholding is taken automatically. Because the reward sits in a brokerage account rather than an ISA, normal UK tax rules apply to any gains and dividends. Tax treatment depends on your circumstances and can change, so speak to a tax adviser if you are unsure.