Alternatives to Robinhood in Australia

3. CMC Invest

Zero commission on US and global shares from the mobile and desktop app.

If you're looking for low fees, CMC has you covered. It has some of the lowest fees in Australia for both global and Australian (CHESS-sponsored) shares. With CMC's stock trading account, you get zero brokerage fees on stocks and ETFs from the US, the UK, Canada and Japan, although like most platforms, you do pay a small currency conversion fee. Australian shares start at $0 brokerage for trades of up to $1,000.

• Brokerage fee: From $0 for ASX stocks; $0 for US, UK, Japanese & Canadian stocks
• Inactivity fee: $0
• Products: Australian and global shares, options, managed funds and cryptocurrency
• Access: Desktop or mobile app

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More info

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4. Webull Australia

Trade US equities, ETFs and options for $0 commissions in the first month.

Like Robinhood, Webull is hugely popular in the US thanks to its low costs and relatively easy-to-use platform. Having launched in Australia in late 2022, the online broker offers US, Australian and Hong Kong stocks and ETFs plus US options.

• Brokerage fee: $0 brokerage for the first month, then US$0.00025 X total trade amount (min. US$0.01; max. US$6.49 per trade).
• Inactivity fee: No
• Products: US-listed stocks, ETFs and options, Australian stocks and ETFs, Hong Kong stocks and ETFs, China (A-Shares) stocks and ETFs.
• Access: Desktop or mobile app

More info

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5. Saxo Invested

Trade over 19,000 stocks from 46 different markets, including Australia, the US, China and Japan.

Saxo Invested has one of the biggest global stock offerings in Australia, with users able to trade on more than 40 global exchanges. Similar to Robinhood, you can trade a mix of stocks (including options), ETFs, forex, commodities and cryptocurrency markets.

• Brokerage fee: From $3 for ASX stocks; US$1 for US stocks
• Inactivity fee: $0
• Products: ASX-listed stocks, global stocks, forex, CFDs and stock options
• Access: Full-service broker, desktop platform

More info

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6. Stake

Stake is a minimalist zero brokerage trading app for US stocks and ETFs. It's one of the few US stockbrokers headquartered and launched in Australia.

Stake is Australia's first zero brokerage trading app for US-listed stocks. Users can trade thousands of stocks and ETFs listed on the NYSE and Nasdaq on their mobile or desktop. Unlike Robinhood, it doesn't allow trading with leverage and users don't have access to other assets such as forex or cryptocurrency.

• Brokerage fee: $0 for US stocks
• Inactivity fee: $0
• Products: US shares, ETFs and managed funds
• Access: Desktop or mobile

More info

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7. Selfwealth

Selfwealth is a low-cost Australian broker that offers both US and Australian shares for a flat fee of $9.50.

Selfwealth is not the cheapest for US stocks, but it distinguishes itself by offering a flat $9.50 brokerage fee for CHESS-sponsored ASX stocks. Selfwealth doesn't offer leveraged options such as CFDs or forex. However, it comes with solid stock research and portfolio tools, making it suited to long-term investors.

• Brokerage fee: US$9.50 for US stocks; $9.50 for ASX stocks
• Inactivity fee: $0
• Products: ASX shares, US shares and ETFs
• Access: Desktop or mobile

More info

Compare share trading platforms

Not what you're after? You can compare other share trading platforms in the table below.

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1 - 5 of 5

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Name	Product AUFST	Price per trade	Inactivity fee	Asset class	International
eToro Exclusive		US$2	US$10 per month if there’s been no log-in for 12 months	ASX shares, Global shares, US shares, ETFs	Yes	Exclusive: Get 12 months of investment tracking app Delta PRO for free when you fund your eToro account. T&Cs apply. Trade stocks, commodities and currencies from the one account and get access to social trading.	Go to siteMore Info Compare	loading Fetching your data...
CMC Invest Finder AwardExclusive		$0	$0	ASX shares, Global shares, Options trading, US shares, ETFs	Yes	Finder exclusive: Get $100 trading credit when you transfer $10k+ of either Australian or international stocks to CMC Invest. Only available for the first 50 new clients to participate. Use promo code “100CMC”. T&Cs apply. Trade over 45,000 shares and ETFs from Australia and 15 major global markets. Plus, buy Aussie shares or ETFs for $0 brokerage up to $1,000 (First buy order of each security, each day - excludes margin loan settled trades).	Go to siteMore Info Compare	loading Fetching your data...
Tiger Brokers Finder AwardExclusive		US$1.99	$0	ASX shares, Global shares, Options trading, US shares, ETFs	Yes	Finder exclusive: Get 4 brokerage-free trades and pay no FX fees on the first $2,000 you exchange each month with first deposit of any amount + plus get an $80 cash voucher when you deposit up to $2000. T&Cs apply. Trade US, Asian and CHESS-sponsored ASX stocks and US options.	Go to siteMore Info Compare	loading Fetching your data...
Moomoo Share Trading Exclusive		US$0.99	$0	ASX shares, Global shares, Options trading, US shares, ETFs	Yes	Finder exclusive: Unlock up to AUD$4,000 AND US$4,000 in $0 brokerage over 60 days. T&Cs apply. Trade US, Asian and CHESS-sponsored ASX stocks and get access to social trading.	Go to siteMore Info Compare	loading Fetching your data...
Superhero share trading Exclusive		$2	$0	ASX shares, US shares, ETFs	Yes	Sign up with code ‘finder24’ and get US$10 of Nvidia stock when you fund your account with $100 or more within 30 days. T&Cs apply. Enjoy US$2 brokerage (other fees may apply) on US stocks and buying ETFs as well as $2 fee to trade Australian shares up to $20,000.	Go to siteMore Info Compare	loading Fetching your data...

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Compare alternatives

We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):

Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Robinhood IPO explained in 60 seconds

Robinhood and market update

• 9 August 2024: A mini stock market crash in early August saw leading markets give up their recent all-time highs following a shock Japanese rate decision.
• 19 June 2024: Robinhood has announced it will buy the cryptocurrency exchange Bitstamp for US$200 million despite SEC scrutiny.
• 30 May 2024: Robinhood (HOOD) announced plans to buy back US$1 billion of stock over the next few years.
• 10 Feb 2024: The ASX 200 dropped by 1.06% to 7610 points influenced by declines in the tech sector and broader market reactions to global financial events. This movement reflects a shift in investor sentiment and market dynamics during the period.
• 8 Jan 2024: The ASX 200 began the year with some fluctuations, dropping 1.4% to 7,523.2 points on the first trading day and then hovering around 7,494 the next day. However, it quickly rallied, with the index approaching its all-time high, closing at 7627.8 points, just a few points shy of its peak

Robinhood frequently asked questions

• Can you use Robinhood in Australia?

  Unfortunately, Robinhood is not available to Australian investors. You can't sign up to the broker from here.

  However, if you were to travel to Australia, the platform states it should work. According to Robinhood, its platform should work in all countries, with the exception of Cuba, Iran, North Korea, Syria and the Crimea region of Ukraine.

• What is the Australian equivalent of Robinhood?

  If you're looking for a low-cost broker that allows you to trade in the US, there's actually a stack of options available to Australian investors. eToro might be the closet broker to Robinhood as it lets you trade US stocks as well as crypto.

• Why is Robinhood considered so good?

  Robinhood became one of the more popular US brokers due to its retail trader-friendly features including low costs and an easy-to-use trading app.

• Which is the largest share trading platform in Australia?

  CommSec is Australia's largest online trading platform. it is also the oldest share trading platform is the best among the Big Four banks according to our algorithm.

• I am a beginner, which platform should I consider?

  There is no single trading platform that will fit all your needs or perfectly fit your individual circumstances. But consider reading our 'best trading platform for beginners' guide to get the relevant information.

• How do I invest in stocks with $1,000?

  You can start investing in Australian shares from as little as $500 if they are CHESS sponsored and as little as $10 at a time into US stocks – depending on your online broker. If you choose to have a custodian model of ownership, you start buying Australian shares for even less.

  Regardless of what or where you choose to invest, you'll need to follow the same steps. You will need to research businesses that you would like to buy, sign up to a broker and purchase the shares.