Alternatives To Robinhood

  • on February 1, 2021

Consumer organized religion inward the Robinhood platform was dashed this calendar week later on the society suspended trading in cryptos too GameStop shares. Follow the events that led to the broker losing favour with 24-hour interval traders as well as come across our recommended alternatives to Robinhood.

WallStreetBets & GameStop

Buoyed past insider noesis that Wall Street hedge funds had millions inward short positions on the high street gaming retailer, Redditors jumped to purchase shares inwards the business firm earlier this week, causing a surge inward the value of stocks.

Gamestop reddit trading

In reaction, Robinhood suspended trade on GameStop shares to comply alongside ‘financial requirements’ the platform’second CEO Vlad Tenev confirmed. Whilst heavily restricted, trade has like a shot resumed later the house raised $1 billion inwards emergency investment. But the damage to consumer confidence nevertheless remains. Angry investors posted a barrage of ane-star reviews for the app on the Google Play Store. These accept recently been deleted by Google, returning Robinhood’s average star rating to four.

Crypto Trading Suspended

In the wake of the volatility, other markets have as well seen disruption. Gold prices declined 0.2% too UK curt positions in Cineworld too Pearson were likewise impacted. However, it was cryptos that saw volatility inwards particular. The toll of dogecoin, a relatively unknown crypto, soared by 800% subsequently it gained traction on social media.

Robinhood suspends crypto trading

The spike inward price in addition to marketplace action led to Robinhood suspending second cryptocurrency deposits on Fri, citing ‘extraordinary marketplace atmospheric condition’. For the minute fourth dimension inward i calendar week, the broker acted every bit a barrier betwixt its customers together with the fiscal markets. It was mayhap unsurprising and then that loyal twenty-four hours traders were one time again upwards inward arms.

Alternatives To Robinhood

Following an eventful calendar week, retail day trader interest has quickly turned to alternatives to Robinhood. Competitor brokerages that offering stock trading and options are seeing a pique inwards new accounts.

eToro

Top alternatives to Robinhood include eToro, a social trading platform that offers trading in stocks, cryptocurrencies as well as CFDs. Clients tin apply social feeds to discuss strategies and copy positions. fifty+ currencies, near one,000 stocks as well as a portfolio of indices are likewise available. In add-on, the broker provides its own powerful trading platform amongst extensive customisation and a user-friendly dashboard.

eToro forex trading broker
eToro copy trading platform

Plus500

Plus500, the Britain’s issue 1 brokerage for CFDs is some other cracking choice. Traders can option from popular stocks including Blackberry in addition to AMC Entertainment, both of which were impacted past GameStop. Plus500 is highly regulated alongside multiple awards under its belt. The companionship likewise promises straightforward marketplace access amongst powerful desktop in addition to mobile trading solutions, along alongside generous leverage too 24/five customer support.

Plus500 alternatives to Robinhood
Plus500 trading platform

Forex.com

Forex.com is i of the summit rated online brokers offering access to over 180 global markets. Leveraged trading is available on forex, stocks, commodities too cryptos. The broker also offers multiple alive business relationship options, competitive floating spreads together with a choice of flexible deposit and withdrawal options. Add in daily market updates in addition to approving from a long list of respected regulators too it’sec unsurprising Forex.com is a popular choice to Robinhood.

Forex.com MT4 web trading platform
Forex.com MT4 web trading platform

Pepperstone

For those amongst an involvement inwards forex trading, Pepperstone offers trading on six major currency pairs, as well equally numerous minors, crosses too exotics. CFDs are available on major instruments such as indices, commodities too shares. Australian-based Pepperstone likewise provides the leading MT4 and MT5 platforms, amongst a competitive £200 minimum deposit requirement to see the needs of novice traders.

Pepperstone alternative to Robinhood
Pepperstone MetaTrader 4 platform

Final Word

The GameStop together with crypto disruption has proven the volatility of fiscal markets together with the risks involved. The reaction of Robinhood has besides shown that non all brokers volition reply how customers would wait. As a result, many traders volition await for alternatives to Robinhood. Fortunately, there are many acme brokers available inwards today’second marketplace.

Brokers inward Republic of Indonesia

Leading forex too CFD broker regulated inwards Republic of Ireland, Commonwealth of Australia, Canada as well as South Africa. Avatrade are specially potent in integration, including MT4

Cryptocurrency

Yes

Regulator

CBoI, ASIC, FSB

MT4 Integration

Yes

Min. Deposit

$100

Min. Trade

$1

Bonus

None

eToro is a multi-property platform which offers both investing inwards stocks and cryptoassets, likewise every bit trading CFDs.

67% of retail investor accounts lose money when trading CFDs alongside this provider. You should consider whether y’all can afford to accept the high gamble of losing your coin.

Cryptocurrency

Yes

Regulator

FCA

MT4 Integration

No

Min. Deposit

$200 ($fifty in U.S.A.)

Min. Trade

$one

Bonus

None

XM.com Offer a range of Account types too a depression minimum deposit to appeal to all levels of trader. With thousand+ markets in addition to depression spreads they offering a slap-up service.

Cryptocurrency

No

Regulator

IFSC, CySec, ASIC

MT4 Integration

Yes

Min. Deposit

5 $/€/£

Min. Trade

0.01 Micro lots

Bonus

Free VPN Services

XTB is 1 of the largest stock telephone exchange-listed FX & CFD brokers inward the Earth, offering access to over 2000 instruments from 2 platforms: its ain laurels-winning xStation five as well as the traditional MT4.

Cryptocurrency

Yes

Regulator

FCA, CySEC, IFSC, KNF

MT4 Integration

Yes

Min. Deposit

No Minimum

Min. Trade

0.01 Lots

Bonus

None

BDSwiss offer 250+ Shares, Indices, Forex, Commodities together with Cryptocurrencies markets via CFDs. With spreads from i pip and an accolade winning app, they offer a peachy parcel.

Cryptocurrency

Yes

Regulator

CySec, FSC

MT4 Integration

No

Min. Deposit

100 $/€/£

Min. Trade

0.01 Lots

Bonus

None

Axi is a global online FX in addition to CFD trading society, trusted past lx,000+ ambitious customers inward 100+ countries around the globe.

72.half dozen% of retail investor accounts lose money when trading CFDs with this provider

Cryptocurrency

Yes

Regulator

FCA, ASIC, FMA

MT4 Integration

Yes

Min. Deposit

0 $/€/£

Min. Trade

0.01 Lots

Bonus

None

PrimeXBT is a Bitcoin-based platform offer highly leveraged trading inwards FX, indices, commodities, & cryptocurrencies.

Cryptocurrency

Yes

Regulator

Unregulated

MT4 Integration

No

Min. Deposit

0.001 BTC

Min. Trade

0.01 contract

Bonus

None

Fusion Markets are delivering low price forex and CFD trading via low spreads and trading costs. Their message is – Stop paying as well much to merchandise

Cryptocurrency

Yes

Regulator

ASIC

MT4 Integration

Yes

Min. Deposit

No Minimum

Min. Trade

0.01 Lots

Bonus

None

Open an business relationship alongside just $x. Trade over fourteen Cryptocurrencies directly, traditional forex amongst low spreads or trade digital options with payouts up to 900%.

Cryptocurrency

Yes

Regulator

CySec

MT4 Integration

No

Min. Deposit

$10

Min. Trade

$1

Bonus

None

Forex.com boast a global reputation. Regulated in the Great Britain, the States too Canada they offering a huge range of markets, non merely forex, and offering real tight spreads as well as a cutting border platform.

Cryptocurrency

Yes

Regulator

NFA, CFTC, FCA, FSA, IIROC too CIMA

MT4 Integration

Yes

Min. Deposit

$100

Min. Trade

$1

Bonus

None

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