Alternatives to Robinhood in Australia

You can't access Robinhood in Australia, so here are 5 low-cost alternatives to trade US stocks.

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US stock trading platform Robinhood is known for being the low-cost app of choice among millennial traders and it may well be the most widely recognised online broker today.

The only problem is, Australians don't have access. Despite being regularly cited in the media, the app has not launched in Australia. So, we tracked down a list of US-stock alternatives that offer low or zero brokerage trading for Aussies.

What is Robinhood?

Robinhood is a US trading platform founded in 2013 that offers zero commissions on stocks, options and ETFs. Thanks to its low fees, range of trading options and minimalist design targeting younger investors it's popular among traders.

Users of the app often trade stock options and other assets such as cryptocurrencies using leverage. This is a higher-risk form of trading because both your profits and losses are amplified. You can check out our Robinhood review from Finder US for more on the app. However, you can't access it unless you hold US residency.

1. eToro

With an eToro trading account, you get commission-free US, European and Hong Kong stock trading plus access to forex, cryptocurrencies, ETFs and commodities.

eToro may well be Australia's closest app to Robinhood, with low fees and a platform angled at the next generation of traders. Like Robinhood, eToro does not charge commission on US stocks and it allows you to trade a mix of stocks, commodities and currencies using leverage.

  • Brokerage fee: $0 for US, EU and Hong Kong shares
  • Inactivity fee: US$10 per month if there’s been no login for 12 months
  • Products: US stocks, European stocks, US ETFs, forex, cryptocurrency, commodities
  • Access: Mobile app and desktop
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Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.


2. IG

An IG share trading account offers zero brokerage on international and US stocks.

Like Robinhood, IG offers zero brokerage trading for US stocks and ETFs. However, it adds to this with an international offering. In addition to US stocks, it offers access to Australia, Germany, Ireland and UK stock markets. Users can also trade forex, cryptocurrencies and commodities using IG's platform.

  • Brokerage fee: From $5 for ASX shares, $0 for global shares
  • Inactivity fee: $50 per quarter
  • Products: Australian and international shares, forex, CFDs
  • Access: Mobile and desktop
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3. CMC Markets

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

CMC Markets has among the lowest fees in Australia for both global and Australian (CHESS-sponsored) shares. The platform offers 2 account options, 1 for share trading and 1 for CFD trading. With CMC's stock trading account, you get zero brokerage on stocks from US, UK, Canada and Japan, and Australian shares starting at $9.90, plus you can apply to trade options.

  • Brokerage fee: From $11 for ASX stocks, $0 for global stocks
  • Inactivity fee: $15
  • Products: Australian and global shares, options, managed funds, forex, commodities, cryptocurrency
  • Access: Desktop or mobile app
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4. Saxo Capital Markets

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

Saxo Capital Markets 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 $5 for ASX stocks, US$4 for US stocks
  • Inactivity fee: $0
  • Products: ASX-listed stocks, global stocks, forex, CFDs, stock options
  • Access: Full-service broker, desktop platform

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5. Stake

Stake is a minimalist zero brokerage trading app for US stocks and ETFs and is 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, managed funds
  • Access: Desktop or mobile

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6. 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, ETFs
  • Access: Desktop or mobile
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More info

Compare share trading platforms

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

Name Product Standard brokerage fee Inactivity fee Markets International
eToro (global stocks)
US$10 per month if there’s been no login for 12 months
Global shares, US shares, ETFs
Zero brokerage share trading on US, Hong Kong and European stocks with trades as low as $50.
Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.
Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.
IG Share Trading
$50 per quarter if you make fewer than three trades in that period
ASX shares, Global shares
$0 brokerage for US and global shares plus get an active trader discount of $5 commission on Australian shares.
Enjoy some of the lowest brokerage fees on the market when trading Australian shares, international shares, plus get access to 24-hour customer support.
ThinkMarkets Share Trading
ASX shares
$8 flat fee brokerage for CHESS Sponsored ASX stocks (HIN ownership), plus free live stock price data on an easy to use mobile app.
Superhero share trading
ASX shares, US shares, ETFs
Earn up to 15,000 Qantas frequent flyer points when you transfer an exisiting balance or trade. Offer valid for all new and existing Superhero members until 28 February.
Pay zero brokerage on US stocks and all ETFs and just $5 (flat fee) to trade Australian shares from your mobile or desktop.
GO Markets Share Trading
ASX shares, Forex, CFDs, ETFs
Pay zero brokerage on your first 20 trades and $7.70 after that on over 2,500 ASX listed shares from either your desktop or mobile.
Opentrader Share Trading
ASX shares, Options trading, ETFs, Warrants
Gain access to chess sponsored shares for as little as $5 per trade.
Get free live data, advanced charting and even gain experience before trading through fantasy portfolios when you sign up with OpenTrader.
Saxo Capital Markets (Classic account)
ASX shares, Global shares, ETFs
Access 19,000+ stocks on 40+ exchanges worldwide
Low fees for Australian and global share trading, no inactivity fees, low currency conversion fee and optimised for mobile.
HSBC Online Share Trading
ASX shares, mFunds, ETFs, Bonds
Limited-time offer: Join HSBC’s online trading account before 28 February 2022 and HSBC will reimburse you up to $100 on your first 5 trades. Also traders who transfer $50k+ will get a $200 bonus(T&Cs apply).
Make trades online with brokerage fees starting from just $19.95 with an HSBC Online Share Trading account. Plus gain access to complimentary expert research, trading ideas and tools.
SelfWealth (Basic account)
ASX shares, US shares
Trade ASX and US shares for a flat fee of $9.50, regardless of the trade size.
New customers receive free access to Community Insights with SelfWealth Premium for the first 90 days. Follow other investors and benchmark your portfolio performance.

Compare up to 4 providers

Important: Share trading can be financially risky and the value of your investment can go down as well as up. Standard brokerage is the cost to purchase $1,000 or less of equities without any qualifications or special eligibility. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Zero brokerage share trading on US, Hong Kong and European stocks with trades as low as $50.

Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.

Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.

Robinhood IPO explained in 60 seconds

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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