The Robinhood app is a financial app that was first launched to the general public in 2014. The app was initially made specifically for apple phones and tablets.
The purpose of the Robinhood app was to give customers the freedom to sell and buy stocks without paying someone a commission.
The company is currently based out of Menlo Park, California. The company has a good reputation and many users like the app and site it as a great investing tool.
Robinhood is also registered with the United States Securities and Exchange Commission.
Why Consider a Robinhood Alternative in Europe?
The biggest reason is that Robinhood is not currently available for European residents.
Robinhood originally planned a UK expansion but cancelled them in June 2020 due to the COVID-19 outbreak.
EU residents can still trade stocks & cryptocurrency commission free from a long list of useful stock trading apps & websites.
The best Robinhood alternatives for Europeans are websites such as Revolut, eToro, Freetrade, and Degiro, and Firstrade.
1. Firstrade – Best Overall Robinhood Alternative for Europeans
Firstrade is the only U.S. based broker that offers a full range of Robinhood features like US stock & options trading for Europeans.
Founded in 1985, Firstrade offers commission free stock trades and a wide variety of other investment vehicles like options, ETFs, mutual funds, bonds, and CDs.
Commission Free Stock & Options Trades
Firstrade is the only broker on the list that offers both comission free stock & options trades for European citizens.
This allows you to invest in US traded stocks even if you live in Europe.
Live Chat & Email Customer Support
Firstrade offers both live chat & email customer support that's a big upgrade from Robinhood's notoriously slow email customer support.
European Countries Supported
Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, Macau, Norway, Poland, Portugal, Spain, Sweden, United Kingdom
2. Revolut – Best European Based Broker
The Revolut app is a hugely popular European savings & investing app based in London, UK. You can trade stocks, crypto, and commodities for free using this app.
Commission Free Trades
Revolut offers commission free trades based on your monthly plan allocation. There are 4 different Revolut plans to choose from:
|Plan||Free Trades Per Month|
|Standard – FREE||3|
You can trade up to 750+ stocks including popular US publicly traded companies like Apple, Amazon, Tesla, and Zoom.
Fractional Share Trading
Revolut also offers fractional share trading like Robinhood where you can invest as little as $1. Fractional share trading gives you the ability to start investing with a small amount to use the power of dollar cost averaging over time.
Trade Cryptocurrency like Bitcoin
Revolut offers cryptocurrency trading for Bitcoin, Ether, Stellar, Litecoin & more in up to 30 different currencies. You can start buying and selling crypto for as little as $1.
2. eToro – Best Social Trading Platform in Europe
eToro is the leading social trading platform that allows you to trade stocks, commodities, currencies, cryptocurrency, and CFDs for free. Based out of Israel, eToro has over 10 million users across 140 countries.
Commission Free Stock Trades
eToro offers commission free stock trades across a wide range of global stock markets including:
- United States (NASDAQ & NYSE)
eToro allows you to buy and sell the following cryptocurrencies on its platform:
- Bitcoin (BTC)
- Ethereum (ETC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Binance Coin
Etoro charges you a fee called a spread each time you buy or sell a cryptocurrency.
$500 Account Minimum
The downside is that Etoro has a $500 account minimum to open an account and start trading.
eToro makes investing in stocks and exchange- traded funds very simple. This app is definitely considered one of the best Robinhood alternatives for Europeans.
3. Freetrade – Best Robinhood Alternative for UK Residents
Freetrade is a good alternative to Robinhood but it's only available in the UK, The Netherlands, and Ireland.
The free trade app is another app that the Europeans are using for there invest vehicle. This app is extremely similar to Robinhood and after looking at the reviews for this app the customers really like using it.
Commission Free Trading
The app allows the users to invest free of charge. You can buy and sell the following equities:
- US Stocks listed on NASDAQ & NYSE (No OTC stocks)
- Index, Stock, and Bond ETFs
- UK stocks lised on London Stock Exchange
- Investment Trusts
Freetrade doesn't allow options trading, day trading or CFD trading so you'll need a more flexible broker if you're an active trader.
5. Degiro – Best Full Service Broker in Europe
Degiro is one of the largest overall full service brokers in Europe that offers simple stock & options trading like Robinhood.
The downside is Degiro doesn't offer commission free stock trading but has a great trading platform for day traders & swing traders.
Which European Alternative to Robinhood is Best For You?
It really depends on your personal investing & trading needs.