Alternatives to Robinhood in Australia

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

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

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 here, 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. It's popular among traders thanks to its low fees, range of trading options and minimalist design targeting younger investors.

Users of the app often trade stock options and other assets using leverage. This is a higher-risk form of trading because both your profits and losses are amplified. For more on the app you can check out our Robinhood review from Finder US, bearing in mind you wont be able to 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,
ETFs and commodities.

eToro may well be the closest app Australia has 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, commodities
  • Access: Mobile app and desktop
Go to site

More info


2. IG

An IG share trading account offers zero brokerage on international stocks as well as 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 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 and forex
  • Access: Mobile and desktop
Go to site

More info


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. With CMC's stock trading account, you get zero brokerage on stocks from US, UK, Canada and Japan, as well as 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
  • Access: Desktop or mobile app
Go to site

More info


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 up to 40+ global exchanges. Similar to Robinhood, you can trade a mix of stocks (including options), ETFs, forex and commodities markets.

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

More info

5. Stake

Stake is a minimalist zero brokerage trading app for US stocks and ETFs and is one of the few US stock brokers 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.

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

More info

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 on the list for US stocks but it does distinguish itself by offering a flat $9.50 brokerage fee for CHESS-Sponsored ASX stocks. SelfWealth doesn't offer leveraged options such as 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
Go to site

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
IG Share Trading
$50 per quarter if you make fewer than three trades in that period
ASX shares, Global shares
ThinkMarkets Share Trading
ASX shares
Superhero share trading
ASX shares, US shares, ETFs
Opentrader Share Trading
ASX shares, Options trading, ETFs, Warrants
CMC Markets Invest
ASX shares, Global shares, mFunds, ETFs
Saxo Capital Markets (Classic account)
ASX shares, Global shares, ETFs
HSBC Online Share Trading
ASX shares, mFunds, ETFs, Bonds
SelfWealth (Basic account)
ASX shares, US shares
Bell Direct Share Trading
ASX shares, mFunds, ETFs

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.

Robinhood IPO explained in 60 seconds

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, 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. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site