{"id":855797,"date":"2020-05-21T10:20:15","date_gmt":"2020-05-21T14:20:15","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=855797"},"modified":"2026-05-12T10:59:27","modified_gmt":"2026-05-12T14:59:27","slug":"robinhood-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/stock-trading\/robinhood-review","title":{"rendered":"When is the Robinhood app coming to Canada?"},"content":{"rendered":"

Robinhood is a popular US-based trading app that doesn\u2019t charge any commissions on its trades. Unfortunately, this app isn\u2019t currently available in Canada \u2013 which has left many Canadians wondering when it will make its way across the border.<\/p>

Unfortunately, there\u2019s no definitive answer for when Robinhood will arrive in the Great White North. That said, there are some substitutes that you can use to save money on commissions while you wait for this coveted app to enter Canada\u2019s financial landscape.<\/p>

What is Robinhood?<\/h3>

Robinhood is a US-based trading app that lets US residents make commission-free trades for a number of financial products. These include stocks, options and exchange-traded funds<\/a> (ETFs). However, it doesn\u2019t allow its investors to trade mutual funds, bonds or precious metals. It also doesn\u2019t let its users make trades on registered accounts like retirement savings accounts.<\/p>

Is Robinhood available in Canada?<\/h3>

Robinhood Canada doesn\u2019t currently exist, despite a high demand for the service. This is unfortunate given that there aren\u2019t that many trading platforms offering free commissions in Canada. That said, there are some suitable alternatives that you can consider depending on what types of trades you want to make.<\/p>

When will Robinhood come to Canada? <\/strong>
Robinhood doesn\u2019t have any publicly-announced plans to come to Canada, though there has been speculation that it will expand its services across the border at some point. The reason Robinhood has not made the move to Canada is that it\u2019s only licensed to sell securities in the US. That said, it does have plans to set up shop in the UK in 2020, which means it\u2019s beginning to shift its focus towards more global markets.<\/div>

Why is Robinhood so popular?<\/h3>

Robinhood is tremendously popular in the US because it offers commission-free trades. This means you don\u2019t pay any extra money on top of the spread to execute your trades. It also charges a low margin fee for its services, which means you\u2019ll end up with more money in your pocket at the end of the day.<\/p>

The mobile app that Robinhood offers is also very user-friendly, which makes it perfect for both beginner and seasoned investors. An added benefit is that it allows investors to start trading with no minimum balance requirements, which is ideal for users who don\u2019t have a large amount of cash to invest right off the bat.<\/p>

How does Robinhood make money?<\/h3>

Robinhood makes money from the following sources:<\/p>

  • Robinhood Gold subscriptions<\/li>
  • Interest on margin trading accounts<\/li>
  • Lending securities to counterparties<\/li>
  • Depositing uninvested brokerage in interest-bearing accounts<\/li>
  • Getting rebates from platforms and exchanges that execute trades for Robinhood clients<\/li>
  • Miscellaneous fees for certain services like instant withdrawals to bank accounts and withdrawals to non-Robinhood debit cards<\/li><\/ul>

    What are some alternatives to Robinhood Canada?<\/h3>

    There are a number of alternatives to Robinhood Canada, depending on what type of trades you want to make.<\/p>

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