Robinhood is a popular trading app that allows people to trade commission-free. However, it’s not available in the UK, as they recently scrapped plans to release it here. So, what are the the best alternatives to Robinhood for UK traders?
This article will explore sites and applications like Robinhood where you can trade financial instruments without paying commissions or extra fees.
We’ll be adding more to this list as we find them. Please suggest any alternatives in the comments, and we’ll get them added to this list!
- Beautiful platform
- Multiple account types
Trading212 is a beginner-friendly, well-built, commission-free trading platform available to UK clients and many other countries.
They offer multiple pathways into trading: CFDs, shares and ISAs.
- CFDs offer more exposure to the markets, as they’re leveraged;
- Shares are as expected, direct exchange of shares; and …
- ISAs are recognised tax-free savings accounts.
They’ve got pretty decent minimum trade limits of 0.01 lots, and fairly tight spreads. But more to the point, they offer absolutely commission free trading across a range of asset classes. You can start investing from “just £1”.
Not only do they all clients from the UK, but they also accept a whole host of other traders. Australia, Thailsan, South Africa, Singapore and more. They don’t, however, accept clients from United States and Canada.
- Great signup bonuses
- Lots of instruments to trade
These guys have been around for a while now, and they offer a good range of instruments you can trade.
Plus500 has a few things you should be aware of before you signup. They charge inactivity fees, £10 per month,so make sure you login at least once per month (not a huge ask).
Some of the main pros of Plus500 are their ease of use, quick sign up and their welcome bonuses. You can get free capital for signing-up without depositing, and you can get deposit bonuses if/when you decide to bolster your account.
If you’re looking for commission-free trading, FreeTrade makes it possible. They’re especially easy to get started with, and have a wide range of assets.
Not only do they offer UK stocks, but they also offer USA stocks. Like Amazon, Google, Tesla, and all the main ones you’ll be interested in.