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Robinhood cancelled its plans to launch in the UK. Robinhood is among the most popular US investing apps due to its simple user interface and low commission.
But as a British investor, you can invest cheaply and easily, too. As you can see below, there are many great alternatives to Robinhood in the UK.
When you invest, your capital is at risk, and you may lose money.
🪧 Should you sign up through my affiliate links, I may receive a commission at no cost to you.
💡 Quick Answer: Best Robinhood Alternatives for UK Investors
Robinhood is a low-commission, user-friendly investment app. In the UK, the best alternatives to Robinhood include:
- Trading 212
- InvestEngine
- eToro
- Freetrade
- Stake App
1. Trading 212
Trading 212 is one of the best investment apps in the UK. Established in Bulgaria in 2004, the platform has been open to UK investors since 2016.
Trading 212 is so popular in the UK that they temporarily implemented a waiting list. When signing up, you can get a free share worth up to £100. Creating an account with Trading 212 is free.
Trading 212 vs Robinhood
Similar to Robinhood, Trading 212 makes investing accessible to everyday people. The platform charges no commission for trades unless they are in a foreign currency. There is, however, a deposit fee for card deposits exceeding £2000.
Trading 212 also has more assets available than Robinhood. Read more in my Trading 212 review.
| Robinhood | Trading 212 | |
|---|---|---|
| User rating | 1.3/5.0 | 4.6/5.0 |
| Fees | $5/month for premium plan Regulatory trading fee: $5.10 per $1 million of principal Trading fee: $0.000119-$0.002 for selling >50 shares | 0.7% deposit fee after £2000 0.15% trading fee |
| Markets | Stocks, margin trading, options trading, cryptocurrencies | Stocks, funds, CFD |
| Minimum deposit | $0 | £1 (£10 for CFD) |
2. eToro
eToro is a social investing multi-asset company. Social investing combines traditional investing with a social aspect similar to social media. You can follow other traders or copy their portfolios.
Established in Israel in 2007, eToro entered the UK market in 2013. Signing up to eToro is free.
Overall, 76% of retail investor accounts lose money when trading CFDs* with eToro.
Consider whether you can afford to take the high risk of losing your money.
*A contract for difference (CFD) is a derivative financial product. CFDs enable traders to speculate on the rising or falling prices of financial markets.
eToro vs Robinhood
Similar to Robinhood, eToro also allows users to trade stocks commission free. eToro is not free, though, as you have to pay deposit and withdrawal fees. There is also a 1% fee for cryptocurrency investments.
On the bright side, eToro is great for day trading and offers many investing options. eToro has 2000 financial assets available, including:
- Cryptocurrencies
- Funds
- Indices
- Currencies
- Commodities
Read more in my eToro review.
| Robinhood | eToro | |
|---|---|---|
| User rating | 1.3/5.0 | 4.4/5.0 |
| Fees | $5/month for premium plan Regulatory trading fee: $5.10 per $1 million of principal Trading fee: $0.000119-$0.002 for selling >50 shares | 0.5% deposit fee $5 withdrawal fee |
| Markets | Stocks, margin trading, options trading, cryptocurrencies | Stocks, funds, CFD, Forex, cryptocurrencies, commodities, indices |
| Minimum deposit | $0 | £10 |
3. Freetrade
Freetrade is a UK-based investment app. The platform started in 2016 and became popular because it allowed commission-free investing. Nowadays, Freetrade has over one million users and offers free and paid plans.
When signing up to Freetrade, you can get a free share worth £10-100. Signing up is free, too.
Freetrade vs Robinhood
Robinhood built its popularity on commission-free investing. It provides easy access to investing to everyday people who would otherwise be unable to invest.
Freetrade is similar in this regard, enabling users to trade commission free. Freetrade’s General Investment Account is free. You can start investing from as little as £1.
However, one difference between Freetrade and Robinhood is that Freetrade doesn’t offer free day trading. You either have to pay extra or upgrade to the paid plan. Freetrade also has fewer investment assets available. You can only invest in stocks or funds.
Read more in my Freetrade review.
| Robinhood | Freetrade | |
|---|---|---|
| User rating | 1.3/5.0 | 4.0/5.0 |
| Fees | $5/month for premium plan Regulatory trading fee: $5.10 per $1 million of principal Trading fee: $0.000119-$0.002 for selling >50 shares | £4.99-£9.99/month for premium plans 0.45% currency conversion fees |
| Markets | Stocks, margin trading, options trading, cryptocurrencies | Shares, funds |
| Minimum deposit | $0 | £1 |
4. Stake App (Closed for UK Investors)
Stake App is an Australian investment app that is open to UK investors. Stake specialises in US stocks. Although Stake is not well-known, it is still a valid broker.
When you sign up to Stake App, you can get a free share from Nike, Dropbox, or GoPro. Whether you plan to use Stake App long-term or not, the free share is worth grabbing.
Stake App vs Robinhood
Stake App is an excellent Robinhood alternative if you are looking to invest in US shares. It offers access to 4500 US stocks and funds, including commission-free trading. All transactions on the Stake App are also in US dollars.
Stake App differs from Robinhood because you can only buy stocks and funds. Unlike Robinhood, Stake does not have cryptocurrencies, margin or options trading.
| Robinhood | Stake | |
|---|---|---|
| User rating | 1.3/5.0 | 2.1/5.0 |
| Fees | $5/month for premium plan Regulatory trading fee: $5.10 per $1 million of principal Trading fee: $0.000119-$0.002 for selling >50 shares | $9/month for premium plan 0.5% for deposits and withdrawals |
| Markets | Stocks, margin trading, options trading, cryptocurrencies | Stocks |
| Minimum deposit | $0 | $50 |
5. InvestEngine
InvestEngine is an online investment platform specialising in exchange-traded funds (ETFs). InvestEngine is relatively new to the market; the site started in 2019. However, InvestEngine quickly grew in popularity thanks to its low fees.
New users can get £50 free cash when they sign up to InvestEngine. Opening a new account is also free. Read my InvestEngine review to find out how to get this offer.
InvestEngine vs Robinhood
The critical difference between InvestEngine and Robinhood is that InvestEngine only offers ETFs. This means you have much fewer options than on Robinhood. However, InvestEngine makes up for this with its low fees. Overall, it is cheaper than Robinhood.
| Robinhood | InvestEngine | |
|---|---|---|
| User rating | 1.3/5.0 | 4.4/5.0 |
| Fees | $5/month for premium plan Regulatory trading fee: $5.10 per $1 million of principal Trading fee: $0.000119-$0.002 for selling >50 shares | 0.25% for managed portfolios 0.05% ETF fee 0.07% market spread |
| Markets | Stocks, margin trading, options trading, cryptocurrencies | ETFs |
| Minimum deposit | $0 | £100 |
6. Ziglu
Ziglu is a cryptocurrency exchange platform that started its journey in 2018. At first glance, it does not bear many similarities to Robinhood. However, Robinhood planned to buy Ziglu. Ultimately, this did not happen, but that does not mean Ziglu is not worth using.
Ziglu vs Robinhood
Like Robinhood, Ziglu is a low-fee way to buy cryptocurrencies. Thus, it may be your platform if that’s what you want to buy.
| Robinhood | Ziglu | |
|---|---|---|
| User rating | 1.3/5.0 | 4.2/5.0 |
| Fees | $5/month for premium plan Regulatory trading fee: $5.10 per $1 million of principal Trading fee: $0.000119-$0.002 for selling >50 shares | 1.25% for buying and selling |
| Markets | Stocks, margin trading, options trading, cryptocurrencies | Cryptocurrencies |
| Minimum deposit | $0 | £1 |
7. IG
IG is a UK-based investment platform. It is a well-established investment platform offering trading since 1974. The platform offers:
- Contracts for difference (CFD)
- Spread betting
- Stockbroking
With over 17,000 shares available, IG has many investment assets.
IG vs Robinhood
Compared to Robinhood, IG caters more to advanced investors with its wide range of assets. The platform also has a higher minimum investment amount. However, if you are an advanced investor, you can find more investment options on IG.
| Robinhood | IG | |
|---|---|---|
| User rating | 1.3/5.0 | 4.1/5.0 |
| Fees | $5/month for premium plan Regulatory trading fee: $5.10 per $1 million of principal Trading fee: $0.000119-$0.002 for selling >50 shares | 0.5% foreign exchanges £3 commission on non-US shares |
| Markets | Stocks, margin trading, options trading, cryptocurrencies | Stocks, CFD, forex |
| Minimum deposit | $0 | £250 |
Frequently Asked Questions
Is there a Robinhood equivalent in the UK?
There are several UK equivalents to Robinhood. Nowadays, there are plenty of low-cost, user-friendly brokers. Popular options include Trading 212, eToro, and Freetrade.
What is a good alternative to Robinhood?
A good alternative to Robinhood is Trading 212. Trading 212 offers commission free trading and has many assets available. Trading 212 also has a better rating on Trustpilot than Robinhood, indicating more satisfied users.
Will Robinhood become available in the UK?
Whether Robinhood will become available in the UK is unclear. Their first attempt failed, but there appear to be plans for a second try.
Best Robinhood Alternatives for UK Investors Summary
There are several great Robinhood alternatives available to UK investors. The best platforms include:
- eToro
- Freetrade
- Stake App
- Trading 212
- InvestEngine
- Ziglu
- IG
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