When is Robinhood Coming to Australia? Alternatives for 2022

1

Robinhood

But do not lose hope! Meantime, you can still find some Robinhood Australian alternatives that have proven reliable (and perhaps even more reliable than Robinhood!). The covid-19 stock crash during the first quarter of 2020 showed some vulnerabilities of the Robinhood platform. The app collapsed several times, and investors could not trade during the most volatile markets in history. The company is facing some lawsuits due to these outages.

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2

Interactive Brokers

On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy but fully online, and the broker doesn’t offer commission-free trading. However, when considering FX fees, narrower spreads, and the stock loan program, Interactive Brokers’ clients still get significant savings compared to most brokers.

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3

eToro

This content promotes copy trading and stocks traded on US stock exchanges and is of a general nature only. Stocks are offered through eToro Service (ARSN 637 489 466), operated by Gleneagle Asset Management Ltd. ABN 29 103 162 278, AFSL 226199, and promoted by eToro Australia Pty Ltd. CAR 001281634. All other stocks are offered as derivatives and bear commission. Copy trading is offered by eToro AUS Capital Pty Ltd. (AFSL 491139) and cannot be construed as financial advice. Use at your own risk, and we are not liable for losses incurred. This information has been prepared without taking your objectives, financial situation, or needs into account. You should obtain advice independently and refer to FSG and PDS before trading with us. Trading stocks may not be suitable for all investors. Your capital is at risk.

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4

Stake

One of Stake’s main advantages is transparency and low cost. There are no inactivity or trading fees. Furthermore, new users can get one free share after opening a Stake account and funding it within 24 hours.

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With 500,000+ active users, Capital.com is a commission-free broker in stocks, ETFs and CFDs in indices, shares, cryptos, commodities and Forex. The only charges you will notice are spreads (the difference between the buy and sell prices) and overnight fees (only if you have leveraged positions).

6

Webull

Robinhood was founded in 2013. Since then, it has played a major role in disrupting the brokerage industry by allowing US retail investors to trade with no commissions, alongside its biggest rival, Webull. Robinhood is defined as a commission-free online broker that offers the possibility of trading stocks, ETFs, options, and cryptocurrencies.

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7

Stocks

This content promotes copy trading and stocks traded on US stock exchanges and is of a general nature only. Stocks are offered through eToro Service (ARSN 637 489 466), operated by Gleneagle Asset Management Ltd. ABN 29 103 162 278, AFSL 226199, and promoted by eToro Australia Pty Ltd. CAR 001281634. All other stocks are offered as derivatives and bear commission. Copy trading is offered by eToro AUS Capital Pty Ltd. (AFSL 491139) and cannot be construed as financial advice. Use at your own risk, and we are not liable for losses incurred. This information has been prepared without taking your objectives, financial situation, or needs into account. You should obtain advice independently and refer to FSG and PDS before trading with us. Trading stocks may not be suitable for all investors. Your capital is at risk.

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8

Betterment

No, Betterment and Wealthfront are not available in Australia either. Only US citizens/Green Card holders are eligible to open an account on these platforms (some exceptions apply in the case of Betterment).

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9

Wealthfront

No, Betterment and Wealthfront are not available in Australia either. Only US citizens/Green Card holders are eligible to open an account on these platforms (some exceptions apply in the case of Betterment).

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