Unfortunately, Robinhood is not available to local traders, as of Feb 2021, they only open accounts to Americans residing in the US.
However, dont feel bad. Robinhoods claim that they do not charge commissions for stock, options, or cryptocurrency trading. Yet, theyre no longer the only broker with 0% commission on stock trading.
Robinhoods customer base is youngsters who are new to investing, who are drawn to the app by advertising free and democratization. Robinhood offers low research capabilities and experiences outages during market surges, so, the option presented here (DEGIRO) is more robust, with way more competitive features.
Who are Robinhoods clients?
Robinhood is best suited for rookies who want to trade small quantities, including fractional shares and cryptos. Robinhoods overall simplicity makes the app and website very easy to use and to charge zero commissions appeals to extremely cost-conscious investors who trade ultra-low quantities. That said, the offerings are very low on research and analysis, and there are serious questions about the quality of the trade executions.
And what is DEGIRO?
From DEGIROs trading platform, you can access your portfolio, streaming quotes, market news, and extensive order capabilities. Available on web and mobile, their platform is easy to use and comprehensive.
With DEGIRO, European investors are connected to the world’s markets. Unlike our competitors, many of whom only offer access to European and US exchanges, DEGIRO also offers access to markets in Australia, Japan, Hong Kong and many more across the globe. This provides clients with the opportunity to benefit from a truly global diversification of assets.
DEGIRO is under behavioural supervision by Netherlands Authority for the Financial Markets (AFM) and prudential supervision by the Dutch Central Bank (DNB). DEGIRO has been granted a license pursuant to article 2:96 of the Act on Financial Supervision in the Netherlands, to act as an investment firm. DEGIRO has its registered office and statutory seat in Amsterdam in accordance with its articles of association. DEGIRO is registered with the Chamber of Commerce and Industry in Amsterdam under number 34342820.
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