Alternatives to Robinhood in Australia (2024)

FAQs

Is there a Robinhood equivalent in Australia? ›

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.

Kelly continues to cause division in his homeland: some celebrate him as Australia's equivalent of Robin Hood, while others regard him as a murderous villain undeserving of his folk hero status.

Unfortunately, Robinhood does not accept clients from Australia. The BrokerChooser team thoroughly tested the services of more than 100 brokers globally by opening a real-money account at each and executing actual trades on their platforms. We collected the top alternatives to Robinhood in Australia as of August 2024.

Webull Securities (UK) Ltd is Authorised and Regulated by the Financial Conduct Authority (FRN 961286). Webull Securities (Australia) Pty. Ltd. is an Australian Financial Services firm licensed and regulated by the Australian Securities Investments Commission ('ASIC') that holds an AFS Licence Number 536980.

CommSec is Australia's largest online trading platform, offering users no monthly account-keeping nor subscription fee. It has the industry standard minimum initial trade of $500, and access to both the ASX and 25 international markets.

Options are traded through ASX-accredited brokers. You will need to sign a Client Agreement form before you start trading. If your current broker is not active in options, or accredited to advise on options, it is wise to seek out a specialist broker in this area.

ASX is home to some of the world's leading resources, finance and technology companies. As the first major financial market to open each day, ASX is a world leader in raising capital, a top 10 global securities exchange by size, and the largest interest rate derivatives market in Asia.

The most common way to buy and sell shares is by using an online broking service or a full service broker. When shares are first put on the market, you can buy them via a prospectus. You can also buy through an employee share scheme, or invest indirectly through a managed fund.

Can I buy shares without a broker in Australia? ›

You access shares without a broker by investing in a managed fund directly through the fund manager. These funds typically hold multiple company stocks that are selected by a fund manager.

You can access your Robinhood account from almost anywhere. However, certain laws and regulations (specifically those administered by the U.S. Office of Foreign Assets Control (OFAC)) prohibit account access for some countries. Robinhood has also made a risk-based decision to restrict access for some other countries.

Australian Facebook Statistics

As of 2024, Facebook continues to be Australia's most used social media platform, with 78.2% of internet users aged 16 to 64 using it monthly.

The Australian Securities Exchange (ASX) is one of the world's leading financial market exchanges based in Sydney, Australia.

The most common way to buy and sell shares is by using an online broking service or a full service broker. When shares are first put on the market, you can buy them via a prospectus. You can also buy through an employee share scheme, or invest indirectly through a managed fund.

In terms of the cheapest trading fees, the best options for investing in the US stock market are CMC Invest and IG, which both offer $0 brokerage on US trades and access to all major US stock exchanges. Webull also offer $0 brokerage on US ETFs and low commission on US stock trades.

An overview of Australian Securities Exchange (ASX)

ASX offers trading in major stocks, ETF, derivatives, fixed income, commodities and energy and holds more than 80% of market share of the Australian Cash Market with S&P/ASX 200 as primary index.