Robinhood - Zero Commission Share Trading Is Coming to Australia

marcusv on 01/06/2017 - 10:33
Last edited 01/06/2017 - 10:53 by 1 other user

I have been wanting to get started in investing and have been trying out Acorns. However, in many online discussions I have been seeing that many American users prefer Robinhood. When I googled Robinhood I saw that they will launching in Australia shortly. With Robinhood, you will be able to buy and sell US listed stocks and ETFs, including many of the largest Australian companies (ADRs). At this stage you can only register for early access robinhood.com/au

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Comments

  • CyberMurning on 01/06/2017 - 10:46

    ok how they can make money if not from commissions?

    • flash659 on 01/06/2017 - 10:52

      From their website:

      "With Robinhood Gold, you get up to 2x your buying power and access to after hours trading for as little as $10 per month. This is the only product Robinhood charges you for, and is completely optional. Trading is still commission free.

      Additionally, Robinhood earns revenue by collecting interest on the cash and securities in Robinhood accounts, much like a bank collects interest on cash deposits."

      • cloudy on 01/06/2017 - 13:41

        I don't understand how they earn nterest in accounts, when the account money is not held in their name. It should be held in the account holders name for safety.

    • tomclancy on 01/06/2017 - 14:24

      Spreads are wider

  • watwatwat on 01/06/2017 - 11:02
    +2

    They have been "coming soon" literally for years. This will definitely not happen any time soon.

    Time to forget about this product for Australia.

  • railspider on 01/06/2017 - 11:20
    +2

    I signed up for "Early Access" in late 2015 and have heard nothing from them.

    If you just want to buy & hold shares, you're better off just spending $10 at a proper broker.

  • TimApple on 01/06/2017 - 17:21

    OptionsXpress is now charging only $5 for trading, and you can get it today.

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