How to buy Robinhood (HOOD) shares from Australia

Robinhood is a popular US trading app that offers commission-free stocks, ETFs and options trading. The company was founded in 2013 and is headquartered in San Francisco, California.

On July 29, 2021, Robinhood officially listed on the NASDAQ at US$38 a share, raising nearly US$2 billion. The company's shares are listed on NASDAQ under the ticker symbol HOOD.

Also read: Alternatives to Robinhood in Australia

How to buy shares in Robinhood

To buy shares listed in the US, you’ll need a brokerage account with access to the US stock market. Check out the steps below:

1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
3. Search for Robinhood. Find the stock by name or ticker symbol (HOOD). Research its history to confirm it's a solid investment against your financial goals.
4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Robinhood reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share of Robinhood, depending on your broker.
6. Check in on your investment. Congratulations, you own a part of Robinhood. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

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About the Robinhood IPO

Robinhood listed on the NASDAQ at US$38 per share on July 29.

The trading app disclosed a pre-IPO filing with the U.S. Securities and Exchange Commission on July 1, 2021, ending months of speculation.

Investment firms Goldman Sachs and JPMorgan are helming the deal, while Barclays, Citigroup and Wells Fargo are onboard to book-run the offer.

The company could be worth more than US$20 billion, according to Reuters. In its September 2020 funding round, Robinhood raised US$460 million and was valued at US$11.7 billion. A Bloomberg report suggested the value could go much higher, up to US$30 billion.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Robinhood can be useful in determining how the market is performing and whether now is a good time to invest in this industry.

Select a company to learn more about what they do and how their stock performs, including market capitalisation, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

• Interactive Brokers Group (IBKR.US)

  Company summary
  Interactive Brokers Group, Inc. operates as an automated electronic broker worldwide. It specialises in executing and clearing trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, and exchange traded funds (ETFs). The company custodies and services accounts for hedge and mutual funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors. In addition, it offers custody, prime brokerage, securities, and margin lending services. The company serves institutional and individual customers through approximately 135 electronic exchanges and market centers.

  Interactive Brokers Group, Inc. was founded in 1977 and is headquartered in Greenwich, Connecticut.

• JPMorgan Chase-and-Co (JPM.US)

  Company summary
  JPMorgan Chase & Co. operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

  The CIB segment provides investment banking products and services, including corporate strategy and structure advisory, and equity and debt markets capital-raising services, as well as loan origination and syndication; wholesale payments and cross-border financing; and cash securities and derivative instruments, risk management solutions, prime brokerage, and research. This segment also offers securities services, including custody, fund accounting and administration, and securities lending products for asset managers, insurance companies, and public and private investment funds.

  The CB segment provides financial solutions, including lending, investment banking, and asset management to small business, large and midsized corporations, local governments, and nonprofit clients; and commercial real estate banking services to investors, developers, and owners of multifamily, as well as to office, retail, industrial, and affordable housing properties. The AWM segment offers multi-asset investment management solutions across equities, fixed income, alternatives, and money market funds to institutional clients and retail investors; and retirement products and services, brokerage, custody, trusts and estates, loans, mortgages, deposits, and investment management products.

  The company also provides ATM, online and mobile, and telephone banking services. JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, New York.

• TD Ameritrade Holding Corporation (AMTD.US)

  Company summary
  TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors and traders, and independent registered investment advisors (RIAs) in the United States. The company offers trade execution, clearing, and margin lending services; and futures and foreign exchange trade execution services. It offers retail brokerage services for common and preferred stocks; exchange-traded funds (ETFs); mutual funds; options; futures; foreign exchange; fixed income products; primary and secondary offerings of fixed income securities, closed-end funds, common and preferred stocks; margin lending; cash management services; and annuities.

  The company also offers investor education services for investors to teach how to approach the selection process for investment securities and manage their investment portfolios. TD Ameritrade Holding Corporation provides its services primarily through the Internet, a network of retail branches, mobile trading applications, interactive voice response, and registered representatives through telephone.

  The company was founded in 1971 and is headquartered in Omaha, Nebraska.

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Name	Product	Standard brokerage for US shares	Currency conversion fee	Asset class
eToro Finder AwardExclusive		US$0	50-150 pips	ASX shares, Global shares, US shares, ETFs	CFD service. Capital at risk. Finder exclusive: Get 12 months of investment tracking app Delta PRO for free when you fund your eToro account (T&Cs apply). Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.	Go to site View details	Compare	loading Fetching your data...
IG Share Trading Finder Award		US$0	0.70%	ASX shares, Global shares, US shares, UK shares, ETFs	$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 and international shares, plus get access to 24-hour customer support.	Go to site View details	Compare	loading Fetching your data...
Moomoo Share Trading Exclusive		US$0.99	55 pips or 0.0055 AUD/USD	ASX shares, Global shares, US shares, ETFs	Finder exclusive: Get an additional 30 days on top of the regular brokerage-free period for new accounts (see link for details). T&Cs apply. Trade shares on the ASX, the US markets and buy ETFs with Moomoo. Plus join a community over 18 million investors.	Go to site View details	Compare	loading Fetching your data...
CMC Invest Finder Award		US$0	0.60%	ASX shares, Global shares, Options trading, US shares, mFunds, ETFs	$0 brokerage on global shares including US, UK and Japan markets. Trade up to 35,000 products, including shares, crypto, ETFs and managed funds, with access to 15 major global and Australian stock exchanges. Plus, buy Aussie shares for $0 brokerage up to $1,000. (Limited to one buy order per stock per trading day).	Go to site View details	Compare	loading Fetching your data...
Webull		US$0.25	0.50% (50 pips)	ASX shares, Options trading, US shares, ETFs	Earn US$100 in cash vouchers when you fund your new account with US$2,000 until March 30, 2024. Plus, earn up to 5.3% p.a. interest on your US cash account (T&Cs apply). Trade ASX and US stocks and US options, plus gain access to inbuilt news platforms and educational resources. You can also start trading for less with fractional shares.	Go to site View details	Compare	loading Fetching your data...
Tiger Brokers Exclusive		US$2	37 pips	ASX shares, Global shares, US shares, ETFs	Finder exclusive: Get 15 commission-free trades on US or ASX equities for the first 180 days and US$50 fractional shares when you deposit at least US$500. Plus, all new customers get 1 free trade per month for the first 12 months (T&Cs apply). Get one brokerage-free trade per month for the first 12 months for US or ASX markets. T&Cs apply.	Go to site View details	Compare	loading Fetching your data...

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Robinhood IPO explained in 60 seconds