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Robinhood Argentina – Expansion Plans and Alternatives for 2023

Franklin Carneiro da Silva| Updated January 24th, 2023
Robinhood Argentina

Robinhood Argentina – Expansion Plans and Alternatives

You have probably heard about the Robinhood app on YouTube and want to know if it’s available in Europe, right?

Robinhood is a modern and easy-to-use investment app from the US, which has introduced the concept of commission-free trading in financial products such as stocks and ETFs.

Want to know if Robinhood is available in Argentina, its expansion plans, and the alternatives available for Argentian users? We’ve got you covered!

What is Robinhood?

Robinhood was founded in 2013. Since then, it has played a major role in disrupting the brokerage industry by allowing US retail investors to trade with no commissions, alongside its biggest rival, Webull. Robinhood is defined as a commission-free online broker that offers the possibility of trading stocks, ETFs, options, and cryptocurrencies.

The results are clear: over 18 million users! The competitors of Robinhood have been monitoring this exponential growth closely, and, in October 2019, some major well-established brokers in the US, such as E-TradeTD Ameritrade, and Charles Schwab, announced in quick succession that they were eradicating trading fees. 

Is Robinhood Available in Argentina?

Unfortunately, Robinhood is not yet available in Argentina, nor any other country outside the US.

It had planned to open in the UK in 2020, but it was postponed indefinitely.

Most recently, in early 2022, Robinhood has set aggressive goals to “open their crypto platform to customers internationally”. With this in mind, Robinhood has signed an agreement to buy Ziglu, a London-based crypto trading app, to help accelerate their international expansion, both in the UK and across Europe.

But do not lose hope! Meantime, you can still find some Robinhood Argentina alternatives that have proven reliable (and perhaps even more reliable than Robinhood!). The covid-19 stock crash during the first quarter of 2020 showed some vulnerabilities of the Robinhood platform. The app collapsed several times, and investors could not trade during the most volatile markets in history. The company is facing some lawsuits due to these outages.

Besides, Robinhood has faced several security breaches in revealing sensitive information about its clients, and, at one point, it even allowed “infinite leverage” that was shortly corrected afterwards. Still, it did not avoid significant losses for some clients.

Robinhood Alternatives in Argentina

To help us answer this question, our assumption was only to focus on reputable international brokers available in Argentina. Given that, here are our suggestions:

XTB

A global broker with access to 1,500 global markets and offering CFD trading stocks, ETFs, indices, shares, cryptos, commodities and Forex.

Interactive Brokers

Targeted for more experienced investors, Interactive Brokers offers a wide range of products from many exchanges worldwide.
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.

Plus500

Plus500 is a multi-asset online broker that offers no commissions when trading CFDs in Indices, Forex, Commodities, Cryptocurrencies, Shares, Options, and ETFs.

1# XTB

Robinhood Argentina - Expansion Plans and Alternatives for 2023 3
Visit XTB
81% of retail CFD account lose money.

XTB at a glance

0% Commissions
Mobile App
ProductsCFDs, Stocks, Commodities, Forex, and Cryptocurrencies
Minimum Deposit$0
RegulatorsCySEC, FCA, KNF, CNMV, and IFSC

Founded in 2002, XTB presents itself as a market player with extensive worldwide experience, regulated by the Financial Conduct Authority (FCA) and listed on the Warsaw Stock Exchange. The trading platforms (MT4 and xStation 5) offer very advanced software oriented to CFDs and forex trading with competitive costs.

The available tools are made for technical analysis rather than fundamental analysis. On the latter, XTB reveals minimal fundamental data indeed.

The fees charged will depend of the type of products you are trading. Stock CFDs and ETF CFDs Fees present an average of 0.08% spreads and Forex & Commodity fees start from 0.1 pips. Besides, you will face an inactivity fee of €10/month after one year of non-trading and if you have not made any deposit in the last 90 days. Opening an account and transferring money is a quick and hassle-free process (demo account available).

XTB is fully supervised by top-tier regulators such as the Financial Conduct Authority (FCA), the Polish Financial Supervision Authority (PFSA or KNF in polish), and the Cyprus Securities and Exchange Commission (CySEC), and the International Financial Services Commission (IFSC). 

Want to know more about XTB? Check our XTB Review.

2# Interactive Brokers

interactive brokers logo
Visit Interactive Brokers

Interactive Brokers at a glance

0% Commissions
Mobile App
ProductsStocks, Options, Futures, Currencies, Commodities, Bonds, Funds, ETFs.
Minimum deposit$0
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB

If you’re looking for an online broker with a wide range of products from different markets, solid trade execution, and a sophisticated trading platform, then Interactive Brokers might be a good alternative to the Robinhood broker.

Founded in 1978 and publicly listed in NASDAQ since 2007, Interactive Brokers is a global online broker that offers access to dozens of markets worldwide, not only US-listed assets. Besides the low costs, this is one of their main differentiators.

They also offer an educational area with free resources for financial education.

Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for beginner investors. Some of the features of IBKR GlobalTrader include automatic currency conversions, fractional shares, demo account, and more.

3# Plus500

Robinhood Argentina - Expansion Plans and Alternatives for 2023 4
Visit Plus500
81% of retail CFD accounts lose money.

Plus500 at a glance

0% Commissions
Mobile App
ProductsCFDs on Stocks, CFDs for stocks indices, forex, commodities, options, crypto, and real shares on Plus500 Invest, Commodities, Forex, Indices
Minimum deposit$100
RegulatorsFCA, CySEC, FMA, FSCA, ASIC, SFSA, EFSRA, and MAS

Plus500 is an online trading and investing platform founded in 2008. It has more than 23 million customers and is internationally available in more than 50 countries. Plus500 has 2,800 instruments with three business branches; Plus500 Invest, Plus500 CFDs, and Plus500 Futures.

With Plus500, you’ll get access to a whole host of benefits:

  • Zero fees;
  • Real-time quotes;
  • Charting solutions;
  • Guaranteed stop orders.

That being said, for the “zero fees” statement, it’s essential to differentiate between Plus500 Invest and Plus500 CFDs.

Plus500 Invest does give you a simple way to trade U.S. stocks commission-free. EU exchanges, on the other hand, will charge a bit more. Between €2 and €6 is standard for buy and sell orders on EU stocks.

But the real business of Plus500 is its CFD products. CFDs are available on everything from forex to commodities and crypto. Plus500 makes money from the spread.

There are no deposit or withdrawal fees, payment processing fees, or dealing commissions. The few fees that you do have to worry about with Plus500 are:

  • Overnight fees (depending on the instrument);
  • Inactivity fee (not logging in for three months): $10 per month;
  • Guaranteed stop orders: subject to a wider spread than usual;
  • Currency conversion fees: spot rate ±0.3%.

Want to know more about Plus500? Check our Plus500 Review.

Which platform should you choose?

Some factors you should know when choosing an online broker are the fees charged if it is regulated by top-tier institutions such as the FCA in the UK, the range of products it allows you to trade (not all platforms allow you to trade EU stocks), among others.

The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!

A reminder that the above should not be seen as investment advice and should be considered information only. Investors should do their own research and diligence about the best-suited services and opportunities for their risk, returns, and impact strategy.

Hope we helped, and leave your comments below.

Happy investments!

Other FAQs about Robinhood

How exactly does Robinhood make money?

The online broker earns money from interest earned on customers’ cash balances (money in your account not invested), by selling order information to third parties (high-frequency traders, for instance), and margin lending.

Regarding the selling of orders, the US Securities and Exchange Commission (SEC) is still investigating Robinhood for not fully disclosing its practice of selling clients’ orders to high-speed trading firms.

Until October 2018, Robinhood would not clearly state that it was receiving payments for order flows. By law, any financial company must reveal all the material facts an investor would want to know before making any investment decision.

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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