Robinhood doesn't work internationally. Alternatives here! (2024)

Franklin Silva| Updated December 18th, 2023

Robinhood supported countries – Robinhood doesn’t work internationally

You probably heard about the Robinhood app on YouTube and want to know if it’s available in your country, am I right? Well, unfortunately, Robinhood doesn’t work anywhere outside the US.

It is planning to open in the UK in early 2024.

This means you won’t be able to open an account if you live in Russia, Brazil, Indonesia, Hong Kong, Colombia, or any other country besides the US.

Want to know the Robinhood alternatives worldwide? Keep on reading. Here’s what we’ll cover:

What is Robinhood?
How Robinhood Makes Money
Robinhood App Alternatives
Most FAQs about Robinhood

What is Robinhood, and why has it become so famous in the US?

But then, how does Robinhood make money?

Robinhood makes money by operating its business in 4 main ways:

Payments for order flow: the broker receives compensation for directing orders to different parties for trade execution. This creates one main problem: there is a conflict of interest to redirect the orders to the partners that offer the best compensation, not the ones with the best execution and, thus, the best prices. However, Robinhood states that they have developed a system that basically routes your orders to the partners with the best execution.
Robinhood Gold: Robinhood’s Premium and paid account. Charges a $5 monthly fee in return for a suite of premium investing tools.
Money not invested: Robinhood generates money by investing cash that is uninvested in clients’ accounts.
Margin lending: the broker receives money for lending money to its users (if they want to leverage their positions).

Robinhood App Alternatives

In this section, we’ll focus on online brokers worldwide (some offer commission-free trading), and with a modern and easy-to-use trading platform, such as Robinhood. Given that, here are our suggestions:

eToro

Commission-free stock and ETF trading (other fees apply). You can also copy other traders/investors. The leading social trading platform worldwide with +30 million users. Full eToro review here.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Interactive Brokers

Founded in 1978, IBKR is one of the world’s most trustworthy brokers. It offers an enormous range of financial products (stocks, ETFs, Options, Cryptos,…), and low currency conversion fees (FX fees). Check our Interactive Brokers review.
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.

XTB

It offers commission-free stock and ETF trading (in some European countries) and low spreads on hundreds of markets through CFDs on Stocks, Forex, Indices, Commodities, and Cryptocurrencies. Awarded multiples time as the best Forex and CFD broker.
Disclaimer: 80% of retail CFD accounts lose money.

Webull

US broker that offers commission-free trading for US-listed stocks, ETFs, and options.

DEGIRO

Low-cost European broker that offers commission-free ETF trading (external fees apply). Full DEGIRO review is available here.
Disclaimer: Investing involves risk of loss.

Broker	Accepts clients from
eToro 77% of retail CFD accounts lose money.	Worldwide. Exceptions include Canada, Japan, Hong Kong, Russia.
DEGIRO	Europe
XTB 81% of retail CFD accounts lose money.	Worldwide. Exceptions include the United States, Australia, Japan, Belgium, Brasil, Hong Kong, India.
Webull	US, Hong Kong, China, Singapore, Japan, the UK, and Australia.
Interactive Brokers	Worldwide (+220 countries, exceptions apply).

Explore the ones you find interesting, and decide for yourself! If you haven’t found a match, you can still take a look at our list of online brokers available by country. A reminder that the above should not be construed as investment advice and should be considered information only.Investorsshould do their own research and due diligence about the services and opportunities best suited for their risk, returns, andimpactstrategy.

Hope we helped, and leave your comments below!

Robinhood Alternatives by country/region

Most FAQs about Robinhood

In which countries is Robinhood available? 🌎

Robinhood is only available for US citizens. This means that if you live in Japan, South Africa, Israel, or any other country, you will not open an account. You can findRobinhood alternatives worldwide here.

Does Robinhood work in Canada? Can Canadians use Robinhood? 🇨🇦

No, Robinhood only works in the USA. You can findRobinhood alternatives in Canada here.

Does Robinhood work in India? 🇮🇳

No, Robinhood doesn’t work in India.

Does Robinhood work Internationally?

No, Robinhood doesn’t work internationally. To use Robinhood, you must be a US citizen, a permanent resident, and have a valid US visa. You can findRobinhood alternatives for international users here.

Robinhood and Gamestop frenzy: What really happened?

In recent times, the Robinhood platform has shown some vulnerabilities, including having collapsed several times in periods of high volatility, and revealing some information about clients due to security breaches.

At one point, it even allowed for infinite leverage. More recently, the company restricted trading in GameStop and other stocks.Why did Robinhood stop people from buying Gamestop, AMC, and other volatile securities?

In a nutshell, these securities showed unprecedented volatility, forcing Robinhood to make very high collateral deposits to the clearinghouse (legal requirement) because of the high volatility and high volume of trading.

At a certain point, the amount of cash required for the collateral was compromising the company’s solvency. So the founders have decided to restrict trading in some volatile companies, such as GameStop and AMC, to protect both the customers and the company. The same happened with many other online brokers.

Franklin Silva

Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

Certainly! It seems like you're diving into the nuances of international availability and alternatives to Robinhood, the commission-free trading app.

Starting with Robinhood itself, it gained prominence by introducing commission-free trading and offering a user-friendly platform for various financial products like stocks, ETFs, options, and cryptocurrencies. The app, founded in 2013, operates mainly within the US. It sustains itself through multiple revenue streams, notably from payments for order flow, premium accounts (Robinhood Gold), uninvested client cash, and margin lending.

Regarding international availability, Robinhood currently functions exclusively within the US borders. However, there are plans to expand its operations, with the UK slated for an early 2024 launch. As for the alternatives, several global brokers offer similar features:

eToro is a social trading platform with a broad user base, enabling commission-free trading for stocks and ETFs. They also facilitate copying other investors' strategies.
Interactive Brokers stands out for its extensive range of financial products, including stocks, ETFs, options, and cryptos, with low currency conversion fees.
XTB provides commission-free stock and ETF trading in select European countries, coupled with low spreads across various markets through CFDs.
Webull caters to the US, Hong Kong, China, Singapore, Japan, the UK, and Australia, offering commission-free trading for US-listed stocks, ETFs, and options.
DEGIRO is a low-cost European broker allowing commission-free ETF trading, subject to external fees.

Each of these alternatives has its strengths and limitations, catering to different regions and offering distinct features. Additionally, there's a disclaimer accompanying most of these services, cautioning users about potential risks involved in investing.

The FAQs about Robinhood's availability in various countries reinforce the fact that the app operates solely for US citizens, highlighting the restrictions faced by individuals residing elsewhere.

Lastly, the GameStop frenzy incident shed light on Robinhood's vulnerabilities during periods of high volatility, resulting in trading restrictions due to collateral requirements for volatile stocks. This situation wasn't unique to Robinhood but affected many other online brokers.

In essence, the landscape of commission-free trading platforms and their international availability is quite diverse, with each platform catering to specific regions and offering varying features.