Robinhood supported countries – Robinhood doesn’t work internationally

You probably heard about the Robinhood app on Youtube and want to know if it’s available in your country, am I right? Well, unfortunately, Robinhood doesn’t work anywhere outside the US. The company had planned to expand to other countries such as the UK, but it was postponed after the COVID-19 pandemic. This means that if you live in Russia, Brasil, Indonesia, Hong Kong, Colombia, or any country other than the US, you won’t be able to open an account. Want to know the Robinhood alternatives worldwide? Keep on reading. Here’s what we’ll cover:

IN THIS POST

What is Robinhood, and why has it become so famous in the US?

Robinhood is a commission-free trading app from the US, which has become famous for introducing the commission-free trading model and having a slick, modern, and easy-to-use trading app – very appealing for retail and beginner investors. Robinhood is an online broker founded in 2013 that offers trading financial products such as stocks, ETFs, options, cryptos completely for free.

But then, how does Robinhood make money?

Robinhood makes money to operate its business in 4 main ways:

Payments for order flow: the broker receives compensation for directing orders to different parties for trade execution. This creates one main problem: there is a conflict of interest to redirect the orders to the partners that offer the best compensation, and not the ones with the best execution, and thus the best prices. However, Robinhood states that they have developed a system that basically routes your orders to the partners with the best execution.
Robinhood Gold: Robinhood’s Premium and paid account. Charges a $5 monthly fee in return for a suite of premium investing tools.
Money not invested: Robinhood generates money by investing cash that is uninvested in clients’ accounts.
Margin lending: the broker receives money for lending money to its users (if they want to leverage their positions).

Robinhood App Alternatives

In this section, we’ll focus on online brokers worldwide that offer commission-free trading, and with a modern and easy-to-use trading platform, such as Robinhood. Given that, here are our suggestions:

eToro

Commission-free stock and ETFs trading (some ETFs are not commission-free). You can also copy other traders/investors. The leading social trading platform worldwide. Full eToro review here.
Disclaimer: 81% of retail CFD accounts lose money.

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, Cryptos,…), and low currency conversion fees (FX fees). Check our Interactive Brokers review.
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.

XTB

Leading derivatives trading broker. XTB offers commission-free real stock trading in some countries.
Disclaimer: 81% of retail CFD accounts lose money.

Freedom24

A European broker known for its exclusive offering of new stocks at their IPO (initial) price with an average return of 52% in three months. It also offers shares and ETFs on major American, Asian and European exchanges, the lowest price for US stock options in the EU, and the USD savings account with 3% interest and daily accrual.
Disclaimer: Capital is at risk.

Webull

US broker that offers commission-free trading for US-listed stocks, ETFs, and options.

DEGIRO

Low-cost European broker that offers commission-free stock and ETF trading. Full DEGIRO review is available here.
Disclaimer: Investing involves risk of loss.

Broker	Accepts clients from
eToro 81% of retail CFD accounts lose money.	Worldwide. Exceptions include Canada, Japan, Hong Kong, Russia.
DEGIRO	Europe
Freedom24	European Union, Thailand, Ukraine, United Arab Emirates, among others.
XTB 81% of retail CFD accounts lose money.	Worldwide. Exceptions include the United States, Australia, Japan, Belgium, Brasil, Hong Kong, India.
Webull	US and Hong Kong (HK).
Interactive Brokers	Worldwide (+220 countries, exceptions apply).

Explore the ones you find interesting, and decide for yourself! If you haven’t found a match, you can still take a look at our list of online brokers available by country. A reminder that the above should not be construed 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.

Hope we helped, and leave your comments below!

Robinhood Alternatives by country/region

Most FAQs about Robinhood

In which countries is Robinhood available? 🌎

Robinhood is only available for US citizens. This means that if you live in Japan, South Africa, Israel, or any other country, you will not open an account. You can find Robinhood alternatives worldwide here.

Does Robinhood work in Canada? Can Canadians use Robinhood? 🇨🇦

No, Robinhood only works in the USA. You can find Robinhood alternatives in Canada here.

Does Robinhood work in India? 🇮🇳

No, Robinhood doesn’t work in India.

Does Robinhood work Internationally?

No, Robinhood doesn’t work internationally. To use Robinhood, you must be a US citizen, a permanent resident, and have a valid US visa. You can find Robinhood alternatives for international users here.

Robinhood and Gamestop frenzy: What really happened?

In recent times, the Robinhood platform has shown some vulnerabilities, including having collapsed several times in periods of high volatility, and revealing some information about clients due to security breaches.

At one point, it even allowed for infinite leverage. More recently, the company restricted trading in GameStop and other stocks. Why did Robinhood stop people from buying Gamestop, AMC, and other volatile securities?

In a nutshell, these securities showed unprecedented volatility, forcing Robinhood to make very high collateral deposits to the clearinghouse (legal requirement) because of the high volatility and high volume of trading.

At a certain point, the amount of cash required for the collateral was compromising the company’s solvency. So the founders have decided to restrict trading in some volatile companies, such as GameStop and AMC, to protect both the customers and the company. The same happened with many other online brokers.

Love Robinhood? It doesn’t work internationally. Alternatives for 2023!