Invest in US Stocks With These UK Robinhood Alternatives
Robinhood is a well known stock trading platform in the US. It’s commission-free stock trading model proving extremely popular for both experienced investors and beginners alike. Unfortunately for those of us in the UK looking to invest in US stocks, Robinhood isn’t an option as yet.
Is Robinhood Coming to the UK?
Robinhood was given regulatory approval in August 2019, giving it the green light to launch in the UK.
The initial anticipated UK launch was early 2020. However it has since been confirmed that the launch has now been delayed. With no clear information on when it’s actually going to go live in the UK.
While there’s no confirmed date for the UK launch, you can sign up to the waiting list here. Ensuring that when the app does become available in the UK, you’ll be one of the first to get access!
What can I use instead of Robinhood?
Thankfully there are now quite a few excellent Robinhood alternatives available in the UK. Which trading platform you opt for will largely depend on your requirements.
If you are only interested in trading US stocks then look no further than Stake. Where you can trade in over 3,500 different US stocks and ETFs.
If you want the option to trade both UK and US stocks, then Trading 212 might be your best option. Providing you are willing to accept a lower number of US stocks available to trade.
Freetrade on the other hand offers similar benefits, albeit on a smaller scale. Packaged in an app platform that’s likely to appeal to those new to stock trading.
Take a look at our pick of the top Robinhood alternatives below to help you decide on the best stock trading app for you.
Best UK Alternatives to Robinhood
Stake is the closest alternative to Robinhood currently available in the UK. With the largest selection of US stocks and ETFs (over 3,500). They also deal exclusively in US stocks. So if you are interested in UK stocks then this isn’t the platform for you. However if US stocks are what you are looking for then you can’t go wrong with Stake.
The platform is currently available in app only format. It provides a easy to use interface and a clean design. Making it easy to get started trading US stocks. Even if you are a complete novice.
What’s more Stake also offer fractional shares and you can get a free stock by signing up via our link: check out our Stake review for more details.
Pros: Largest selection of US stocks. Fractional Shares. Commission-Free Trading.
Cons: No UK stocks. Deposit & Withdrawal Fees (although they are minimal)
Trading 212 is another great UK alternative to Robinhood. While you don’t have the same number of US stocks available as Stake (around half). You do have the added bonus of having access to a strong selection of both US and UK stocks as well as a small number of European stocks.
Along with an excellent app, there is also a full desktop platform available. Ideal for those who want the flexibility of both. Similar to Stake, Trading 212 also offer a number of stocks as fractional shares. Not to mention a free stock worth up to £100 if you sign up via our link!
Pros: US & UK stocks. Fractional Shares. Fee-Free Trading.
Cons: Smaller selection of US Stocks than Stake.
Freetrade is another very popular UK stock trading app. With US stocks available and having recently launched fractional shares, it can now definitely be considered an alternative to Robinhood. While Freetrade doesn’t offer as many US stocks as Stake or Trading 212, it does offer UK stocks also. Again, as the name suggests, their is a strong focus here on commission-free stock trading.
As well as a very beginner friendly app interface, Freetrade also has an active community and loyal fan-base. Although where the app benefits in it’s ease of use, it does miss out on more advanced data and analysis. Something which both Stake and Trading 212 excel in. Not to be undone, Freetrade also offer a free stock on signup worth up to £200! You can find more details on how to sign up and claim your free stock in our Freetrade review.
Pros: US & UK stocks. Fractional Shares. Fee-Free Trading. Beginner Friendly.
Cons: Smaller selection of US Stocks than the competition. App lacks data and detail level available on Stake and Trading 212.
As you can see there are strong alternatives to Robinhood currently available in the UK. So there’s really no reason to continue holding on for the UK Robinhood launch. Rather than choosing one of the above why not just sign up for all 3? Take advantage of a free stock from each platform and give them a try for a few weeks. You can then decide on the best stock trading app for your needs based on first hand experience!