You have probably heard about the Robinhood app and want to know if it is available in South Africa, right?
Robinhood is a modern, easy-to-use investment app from the US that popularised the concept of commission-free trading in financial products such as stocks and ETFs.
Want to know if the Robinhood app is available in South Africa, what its expansion plans are, and which alternatives are available locally? We have got you covered.
What is Robinhood?
Founded in 2013, Robinhood has played a major role in disrupting the brokerage industry by allowing US retail investors to trade with no commissions. In the US, Robinhood offers stocks, ETFs, options, futures and cryptocurrencies.
The results are clear: at the end of June 2026, Robinhood had 28.4 million funded customers and $369 billion in total platform assets, according to its second-quarter 2026 results. The company has been listed on NASDAQ under the ticker HOOD since July 2021 and joined the S&P 500 in September 2025. In response to Robinhood’s rapid growth, several well-established US brokers moved to eliminate trading commissions in late 2019, including E*TRADE (subsequently acquired by Morgan Stanley in 2020) and Charles Schwab (which absorbed TD Ameritrade, whose brand has since been fully retired).
Is Robinhood available in South Africa?
Robinhood is not available in South Africa. Account opening requires a US Social Security number and a US residential address, so South African residents cannot register regardless of citizenship.
Robinhood has expanded internationally in recent years, but its focus has been on developed markets with established regulatory frameworks. It launched in the UK in early 2024 through Robinhood U.K. Ltd (FCA-regulated), expanded to 30 countries in the EU and EEA in June 2025 via Robinhood Europe UAB (supervised by the Bank of Lithuania), and completed its acquisition of the crypto exchange Bitstamp the same month. In April 2026, it received in-principle approval from the Monetary Authority of Singapore (MAS) to offer brokerage services there.
Africa has not featured in any publicly announced expansion plans, and there is no indication that a South African launch is being considered. For a local rollout, Robinhood would need authorisation from the Financial Sector Conduct Authority (FSCA) and would have to work within South Africa’s exchange control regime, which places annual limits on how much residents can move offshore.
These limits also apply when you use an international broker. Following the 2026 Budget, the single discretionary allowance (SDA) was doubled from R1 million to R2 million per adult per year, which you can send abroad without SARS approval, and you can invest up to a further R10 million a year abroad through the foreign investment allowance with SARS approval. Check the current limits with your bank before transferring money.
The good news is that South African investors can still buy US stocks and ETFs through regulated international brokers, as well as through local FSCA-regulated platforms that give access to the JSE (Johannesburg Stock Exchange) and international markets.
Robinhood alternative in South Africa
We focused on reputable international brokers that accept South African residents. Here is our suggestion:
Interactive Brokers
Founded in 1978, IBKR is one of the world’s most trustworthy brokers. It offers an enormous range of financial products (stocks, ETFs, options and more) and low currency conversion (FX) fees.
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile app to trade stocks, options and ETFs, ideal for novice investors.
Interactive Brokers
Founded in 1978, listed on NASDAQ (ticker: IBKR) and part of the S&P 500 since August 2025, Interactive Brokers is a global online broker that has come through major financial crises, showing resilience and rigorous risk management. It has more than 5.5 million client accounts.
Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 170 markets in 40 countries, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.
Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. That’s why we mainly recommend it to more advanced investors. However, beginners can use the IBKR GlobalTrader app, which simplifies investing in stocks, options and ETFs. Besides, customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.
On costs, US stocks cost $0.005 per share with a $1 minimum per order on the Fixed plan, and converting rand or other currencies to dollars costs only 0.002% (minimum $2). There is no minimum deposit.
On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy (but fully online), and it doesn’t offer commission-free trading to South African clients. However, its low FX fees and commissions still make it one of the cheapest ways for South Africans to buy US stocks.
Want to know more about Interactive Brokers? Check our Interactive Brokers Review.
How to choose an online broker?
Some factors you should know when choosing an online broker are the fees charged, whether it is regulated by top-tier institutions such as the SEC in the US or the FSCA in South Africa, the range of products it allows you to trade (not all platforms allow you to trade cryptocurrencies or companies listed in South Africa), among others.
The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the broker 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 due diligence about the services and opportunities best suited for their risk, returns, and impact strategy.
If you need further guidance or have questions, feel free to reach out to us. We wish you the best in your investment journey. When investing, your capital is at risk.
Other FAQs about Robinhood
How exactly does Robinhood make money?
Robinhood earns money from transaction-based revenue (including payment for order flow in the US, where market makers pay to execute customers’ orders), interest on customers’ uninvested cash and margin loans, and subscriptions to Robinhood Gold.
Payment for order flow has drawn regulatory attention. In December 2020, Robinhood agreed to pay $65 million to settle charges from the US Securities and Exchange Commission (SEC) that it had misled customers about its revenue from these payments and failed to get them the best execution prices.
Can South Africans buy US stocks?
Yes. South African residents can buy US stocks and ETFs through an international broker such as Interactive Brokers, or through local platforms that offer US shares. Transfers abroad count towards your annual exchange control allowances. Before buying US stocks, you usually complete the W-8BEN form, which lets you benefit from the US-South Africa tax treaty and pay a lower 15% withholding tax on US dividends instead of 30%.
Can I use Robinhood from South Africa with a VPN?
No. A VPN only changes your apparent location. Robinhood checks your identity and residential address when you open an account, for example a Social Security number and US address in the US. Giving false information would break its terms and could get your account closed.
