US stock trading platform Robinhood is known for being the low-cost app of choice among millennial traders in the US, and it may be the most widely recognised online broker today – but you can’t access it in the UK. After more than a year of ramping up its UK launch and with thousands of would-be investors on a waitlist, Robinhood postponed its UK launch indefinitely in 2020. We’ve pulled together some UK alternatives to Robinhood, comparing features, fees and stocks available.
Robinhood is a US trading platform founded in 2013. It offers zero commissions on stocks, options and exchange-traded funds (ETFs). It’s popular among traders thanks to its low fees, range of trading options and minimalist design targeting younger investors.
Users of the app often trade stock options and other assets, such as cryptocurrencies, using leverage (typical UK investors won’t be able to access the latter). This is a higher-risk form of trading because both your profits and losses are amplified.
 |  | |
| Finder score | ★★★★★ | ★★★★★ |
| Customer satisfaction survey | ★★★★★ | |
| FSCS protected? | ||
| Stocks and shares ISA available? | ||
| Standard trading fee | £0 | £0.00 |
| Foreign exchange fees | 0% | 0.5% |
| UK - London Stock Exchange | ||
| US - New York Stock Exchange | ||
| US - NASDAQ | ||
| App | ||
| Desktop or web access | ||
| Keep in mind | Capital at risk | Capital at risk. 51% of retail CFD accounts lose money |
| Go to site More Info |
eToro offers commission-free stock trading as well, with a foreign exchange fee of 0.50%. Robinhood doesn’t charge a foreign exchange fee in the US, but most UK platforms do. It also has professional charting tools and research, as well as social trading features like copy trading.
With eToro, you can trade stocks, commodities and currencies. The platform has more than 1,000 stocks available to invest in.
Unlike the other providers we’ve listed here, eToro doesn’t let you invest with your ISA allowance, so any profits you make over £3,000 might be subject to capital gains tax.
We’ve got a comprehensive eToro review if you want to know more.
|  | |
| Finder score | ★★★★★ | ★★★★★ |
| Customer satisfaction survey | ★★★★★ | |
| FSCS protected? | ||
| Stocks and shares ISA available? | ||
| Standard trading fee | £0 | £0 |
| Foreign exchange fees | 0% | 0.5% |
| UK - London Stock Exchange | ||
| US - New York Stock Exchange | ||
| US - NASDAQ | ||
| App | ||
| Desktop or web access | ||
| Keep in mind | Capital at risk | Capital at risk |
| Go to site More Info |
|  | |
| Finder score | ★★★★★ | ★★★★★ |
| Customer satisfaction survey | ★★★★★ | |
| FSCS protected? | ||
| Stocks and shares ISA available? | ||
| Standard trading fee | £0 | £8 |
| Foreign exchange fees | 0% | 0.5% |
| UK - London Stock Exchange | ||
| US - New York Stock Exchange | ||
| US - NASDAQ | ||
| App | ||
| Desktop or web access | ||
| Keep in mind | Capital at risk | Capital at risk. 70% of retail CFD accounts lose money |
| More Info |
|  | |
| Finder score | ★★★★★ | ★★★★★ |
| Customer satisfaction survey | ★★★★★ | |
| FSCS protected? | ||
| Stocks and shares ISA available? | ||
| Standard trading fee | £0 | £0 |
| Foreign exchange fees | 0% | 0.59% |
| UK - London Stock Exchange | ||
| US - New York Stock Exchange | ||
| US - NASDAQ | ||
| App | ||
| Desktop or web access | ||
| Keep in mind | Capital at risk | Capital at risk |
| More Info |
Freetrade is a little more beginner-friendly than eToro and Fineco. Like Robinhood, it’s commission-free, with a whole host of stocks available to free users. You can upgrade for additional features and a larger range of stocks for a set fee per month with its additional subscriptions, including one that gives you access to an ISA.
Freetrade is app-only, so you can’t trade on a desktop. However, it’s testing desktop trading for Plus users at the moment. The charting tools are more basic with Freetrade than with eToro and Fineco. You can’t trade on margin with Freetrade.
If you’d like to know more, you can read our full review of Freetrade.
Robinhood, the commission-free investment platform, has yet to make its services available in the UK. Originally scheduled for a 2020 launch, the expansion was indefinitely postponed due to “global events” in the first half of that year, according to a statement by the company.
Despite this setback, Robinhood – available only to US investors for now – has said it remains committed to rolling out its app globally.
While the company’s global expansion plans are currently on hold, they aim to introduce brokerage services in the UK by the end of 2023, as stated in their Q1 2023 financial report.
In early 2022, Robinhood aborted a takeover bid of Ziglu, a London-based crypto trading app. Robinhood was on course to buy Ziglu for $170m in April 2022 before cutting back its bid to $72.5m and ultimately pulling out altogether.
It’s unlikely that Robinhood will be coming to the UK anytime soon. If you want to start investing, you’re better off finding a UK Robinhood alternative. We think eToro is a great alternative if you’re not interested in investing in an ISA. Experienced investors are suited well to Fineco, while beginners may prefer Freetrade.
If you’re still not convinced, you can compare share dealing accounts with our comparison table. It lets you choose what’s important to you and narrow your options.
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
Ever wondered how to invest in FTAL ETF? Learn more about it now and find out where you can invest in it. Compare ETF brokers to start investing today.
Ever wondered how to invest in FLGB ETF? Learn more about it now and find out where you can invest in it. Compare ETF brokers to start investing today.
Ever wondered how to invest in HUKX ETF? Learn more about it now and find out where you can invest in it. Compare ETF brokers to start investing today.
Thinking about buying shares in Flutter Entertainment? We explain how to do it and compare a range of providers who will give you access to global markets.
Sales of Reckitt Bencksier products like Dettol have risen due to coronavirus. Here’s how you can invest in Dettol, by buying Reckitt Benckiser shares.
Ever wondered how to buy shares in AT&T? We explain how and compare a range of providers that can give you access to many brands, including AT&T.
Ever wondered how to buy shares in Wincanton? We explain how and compare a range of providers that can give you access to many brands, including Wincanton.
Ever wondered how to buy shares in United Utilities? We explain how and compare a range of providers that can give you access to many brands, including United Utilities.
Find out how to buy shares in RELX, see its share prices over the last three months and check out our must-do checklist if you’re looking to invest.
Ever wondered how to buy shares in Reach? We explain how and compare a range of providers that can give you access to many brands, including Reach.