Robinhood alternatives in Australia
You can't access Robinhood in Australia, so here are 5 low-cost alternatives to trade US stocks.
Popular American broker Robinhood is known for being the low-cost app of choice among millennial traders.
It may well be the most widely recognised online broker today, thanks to its role in popularising zero-brokerage trading.
The only problem is Australians can't use it. Despite being regularly cited in the media, the app has not launched in Australia and Robinhood has not announced any plans to do so.
So we've created a list alternative platforms to Robinhood that offer the same low or zero brokerage fees for US stocks.
Our top pick for
ASX trading
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Our top pick for
Copy trading
Our top pick for
Beginners
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What's the best Robinhood alternative?
We've judged eToro to be the best alternative to Robinhood because it offers many of the same features:
- US$2 brokerage US stock trading
- You can protect your funds and investment insurance features
- Social trading tools such as "copy trading"
- Fractional share trading available
- Cryptocurrency trades available
1. eToro
Copy trading
Social media forums
Demo account available
With an eToro trading account, you get low-commission AU, US, European and Hong Kong stock trading plus access to forex, cryptocurrencies, ETFs and commodities.
eToro may well be the closest app to Robinhood that we have available. Like Robinhood, it's a low-cost platform angled at the next generation of traders. eToro also allows you to trade a mix of stocks, commodities and currencies using leverage.
- US$2 commissions on ASX and global stocks
- Low minimums
- Fractional shares
- Copy-trading feature
- Trade 20 global exchanges
- A single account for stocks, forex, CFDs and cryptocurrency
- Account base currency always in US dollars
- Offers CFDs and other riskier products
- No MetaTrader 4 (MT4)
- Forex trading fees higher than some others
Brokerage fees:
AU stocks: US$2
US stock: US$2
UK stocks: US$2
ETF brokerage fees:
AU stocks: Not available
US stock: $0
UK stocks: $0
Inactivity fee: US$10 per month if you don't log in for 12 months or more
Currency conversion fee: 1.50% of trade value
AU stocks: US$2
US stock: US$2
UK stocks: US$2
ETF brokerage fees:
AU stocks: Not available
US stock: $0
UK stocks: $0
Inactivity fee: US$10 per month if you don't log in for 12 months or more
Currency conversion fee: 1.50% of trade value
2. Tiger Brokers
Cheaply invest in US, HK and AU shares
CHESS-Sponsored stocks
Low-cost options trading
Like Robinhood, Tiger Brokers offers low cost US fractional stock and options trading. It stands out from other platforms on this list thanks to its access to high quality research and data and its AI chatbot feature TigerGPT. It’s also one of the few platforms in Australia with access to US options at a very competitive price.
- Trading Australian, US and Hong Kong stocks
- US options trading
- Easy-to-use mobile trading
- Competitive brokerage
- No minimum deposit required
- Real-time streaming quotes
- Generous sign-up offers
- High-interest earning cash account
- CHESS-sponsored accounts
- You'll find slightly cheaper brokerage elsewhere for ASX shares
- Limited educational resources
- Limited markets available
Brokerage fees:
AU stocks: $3 per trade up to $10,000, 0.03% of trade amount after that
US stocks: US$2 for trades of up to 200 shares, US$0.01 per stock after that
UK stocks: Not available
Other markets available: Details here
ETF brokerage fees:
AU stocks: $3 per trade
US stocks: US$2
UK stocks: Not available
Other markets available: Details here
Options:
ASX: Not available
US: Fixed Brokerage Plan
• US$3 for up to 4 contracts
• US$0.75 per contract for 5 or more contracts
Tiered Brokerage Plan (Monthly Contract Volume)
• US$0.90 per contract for the first 50 contracts
• US$0.75 per contract for the 51st–100th contract
• US$0.55 per contract for the 101st–300th contract
• US$0.50 per contract for the 301st–500th contract
• US$0.45 per contract for the 501st–1,000th contract
• US$0.40 per contract for the 1,001st–10,000th contract
• US$0.35 per contract for the 10,001st–50,000th contract
• US$0.25 per contract for the 50,001st–100,000th contract
• US$0.15 per contract for 100,001 or more contracts
Inactivity fee: $0
Currency conversion fee: 55 pips
AU stocks: $3 per trade up to $10,000, 0.03% of trade amount after that
US stocks: US$2 for trades of up to 200 shares, US$0.01 per stock after that
UK stocks: Not available
Other markets available: Details here
ETF brokerage fees:
AU stocks: $3 per trade
US stocks: US$2
UK stocks: Not available
Other markets available: Details here
Options:
ASX: Not available
US: Fixed Brokerage Plan
• US$3 for up to 4 contracts
• US$0.75 per contract for 5 or more contracts
Tiered Brokerage Plan (Monthly Contract Volume)
• US$0.90 per contract for the first 50 contracts
• US$0.75 per contract for the 51st–100th contract
• US$0.55 per contract for the 101st–300th contract
• US$0.50 per contract for the 301st–500th contract
• US$0.45 per contract for the 501st–1,000th contract
• US$0.40 per contract for the 1,001st–10,000th contract
• US$0.35 per contract for the 10,001st–50,000th contract
• US$0.25 per contract for the 50,001st–100,000th contract
• US$0.15 per contract for 100,001 or more contracts
Inactivity fee: $0
Currency conversion fee: 55 pips
3. IG
$0 brokerage fees for ASX and global shares
Extended trading hours for US shares
Practice with 20K virtual funds
Like Robinhood, IG offers zero brokerage trading for US stocks and ETFs, but it goes a step further and adds an international offering. It provides access to stock markets in Australia, Germany, Ireland and the UK. Users can also trade forex, cryptocurrencies and commodities using IG's platform.
- $0 brokerage for Australian and global shares.
- A single platform for global and ASX stocks, CFDs, forex (CFDs) and cryptocurrencies (CFDs)
- Extended hours trading on US stocks
- Competitive spreads
- Educational resources
- Currency conversion fee higher than some others
- Encourages more active traders
- Limited global markets
- Limited order types
Brokerage fee per trade:
AU stocks: $0
US stocks: US$0
UK stocks: £0
Other markets available: Details here
ETF brokerage fees:
AU ETFs: $0
US ETFs: US$0
UK ETFs: £0
Other markets available: Details here
Inactivity fee: $0
Currency conversion fee: 0.70% of trade value
AU stocks: $0
US stocks: US$0
UK stocks: £0
Other markets available: Details here
ETF brokerage fees:
AU ETFs: $0
US ETFs: US$0
UK ETFs: £0
Other markets available: Details here
Inactivity fee: $0
Currency conversion fee: 0.70% of trade value
4. CMC Invest
$0 brokerage for global stocks
$0 brokerage on ASX (CHESS) buy orders
Sophisticated research tools
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.
- Low brokerage fees. With $0 brokerage on US, UK, Canadian and Japanese markets and on 1 ASX trade per day up to $1,000, CMC Invest offers a competitive service.
- Wide range of trading options. CMC Invest allows you to trade a full suite of investment products from shares to managed funds.
- Research features. CMC Invest offers an impressive range of research tools, including broker stock ratings, ETF and stock filtering tools and technical analysis charts.
- Strong educational resources. The broker offers a range of educational resources including webinars, eBooks, podcasts, videos, training guides and "learn to trade" functions.
- High minimum trade on global shares. There's a $1,000 minimum trade value for all global markets.
- Hefty phone brokerage fee. CMC Invest charges a sizeable phone trade brokerage fee of around $60.
- High brokerage for some countries. Trading stocks outside of Australia, US, UK, Canada and Japan costs $59.00 or 0.59% in commission.
Brokerage fees:
AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders.
US stocks: US$0
UK stocks: £0
ETF brokerage fees:
AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000.
US ETFs: US$0
Options:
ASX: $33/contract
US: Not available
Other markets available: Details here
Inactivity fee: $0
Currency conversion fee: 0.60% of trade value
AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders.
US stocks: US$0
UK stocks: £0
ETF brokerage fees:
AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000.
US ETFs: US$0
Options:
ASX: $33/contract
US: Not available
Other markets available: Details here
Inactivity fee: $0
Currency conversion fee: 0.60% of trade value
5. Webull
Advanced technical tools
ASX (CHESS-sponsored) and global stocks
US options trading
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. In September 2025, Webull also launched cryptocurrency trading.
- Cheap brokerage ($0 for ETFs)
- In-built news platform and educational resources
- Allows you to trade fractional shares
- Auto-investing feature
- Trade stocks from ASX, US and Hong Kong
- Trade over 200 cryptocurrencies
- In-depth market data
- No Australian options
- Limited global markets
- Limited order types
Brokerage fee per trade:
AU stocks: $0.0003 X trade value (min $1.00)
US stocks: US$0.00025 X trade value (min $1.00)
UK stocks: Not available
Other markets available: Details here
ETF brokerage fees:
AU stocks: $0
US stocks: US$0
UK stocks: Not available
Other markets available: Details here
Options:
ASX: Not available
US: US$0.50
Inactivity fee: $0
Currency conversion fee: 50 bps of trade value
AU stocks: $0.0003 X trade value (min $1.00)
US stocks: US$0.00025 X trade value (min $1.00)
UK stocks: Not available
Other markets available: Details here
ETF brokerage fees:
AU stocks: $0
US stocks: US$0
UK stocks: Not available
Other markets available: Details here
Options:
ASX: Not available
US: US$0.50
Inactivity fee: $0
Currency conversion fee: 50 bps of trade value
6. Stake
$3 brokerage fee per trade
No monthly fees for basic account
Trade ASX (CHESS) and US stocks
Stake is a slick low-cost brokerage trading app for US stocks and ETFs.
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.
- $3 brokerage when you buy and sell stocks
- 12 months of $0 ASX brokerage when you refer three friends or transfer $1000 of Australian shares to Stake
- User-friendly platform and app that takes just minutes to set up
- Fractional US investing. Instead of buying individual shares, you can invest smaller dollar amounts (minimum $10)
- Free access to pre-market and after hours US market sessions
- Doesn’t contain all the features of an all-in-one trading platform
- If you’re looking to buy shares outside of the U.S. and Australian share markets
- Have to pay for certain tools through Stake Black
Brokerage fees:
AU stocks: $3 (Up to and including $30,000); 0.01% (Over $30,000)
US stocks: US$3 (Up to and including $30,000); 0.01% (Over $30,000)
Other markets: Details here
ETF brokerage fees:
AU ETFs: $3
US ETFs: US$3
Inactivity fee: $0
Currency conversion fee: 55 BPS (~US$0.55 for every AUD$100 exchanged)
AU stocks: $3 (Up to and including $30,000); 0.01% (Over $30,000)
US stocks: US$3 (Up to and including $30,000); 0.01% (Over $30,000)
Other markets: Details here
ETF brokerage fees:
AU ETFs: $3
US ETFs: US$3
Inactivity fee: $0
Currency conversion fee: 55 BPS (~US$0.55 for every AUD$100 exchanged)
Compare other alternatives to Robinhood
Not what you're after? You can compare other share trading platforms in the table below.
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How we picked theseFinder Score for share trading platforms
We've scored over 30 share trading platforms assessing them for their core features, fees, customer experience and accessibility. Our experts give each platform a score out of 10.
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.
Can you invest in Robinhood stock from Australia?
While you can't actually use Robinhood in Australia, you can still invest in the company itself. Robinhood Markets Inc (HOOD) trades on the Nasdaq stock exchange in the US, which means you can buy Robinhood (HOOD) stocks through any trading platform that lets you invest in US stocks.
You can also get exposure to HOOD via the Australian Securities Exchange through ASX ETFs that track US stocks, like the Vanguard U.S. Total Market Shares Index ETF (ASX: VTS).
VIDEO: Robinhood IPO explained in 60 seconds
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Frequently asked questions
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. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.
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