FAQ

IS ROBINHOOD AVAILABLE IN NIGERIA?

Robinhood is one of the most well-known US discount broker. Is it available to local traders?

Unfortunately, Robinhood is not available to local traders, as of January 2022, they only open accounts to Americans residing in the US.


However, don't feel bad. Robinhood's claim that they do not charge commissions for stock, options, or cryptocurrency trading. Yet, they're no longer the only broker with 0% commission on stock trading. 


Robinhood's customer base is youngsters who are new to investing, who are drawn to the app by advertising "free" and "democratization." Robinhood offers low research capabilities and experiences outages during market surges, so, the option presented here (AvaTrade) is more robust, with way more competitive features.

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Who are Robinhood's clients?


Robinhood is best suited for rookies who want to trade small quantities, including fractional shares and cryptos. Robinhood's overall simplicity makes the app and website very easy to use and to charge zero commissions appeals to extremely cost-conscious investors who trade ultra-low quantities. That said, the offerings are very low on research and analysis, and there are serious questions about the quality of the trade executions.



And what is AvaTrade?


AvaTrade (avatrade.com) is an online broker that offers some of the top trading platforms worldwide, allowing you to trade most of the meme stocks that you have read on wallstreetbets. Some key facts:


  • 1250+ instruments available including, Cryptocurrencies, Stocks, Commodities

  • Desktop, tablet, mobile and Web-based trading.

  • A range of  and EA compatibility

  • Competitive spread and leverage offering

  • Client funds are held in segregated accounts for increased security

  • Regulated in Europe, Australia, Japan, British Virgin Islands, UAE and South Africa

  • Trading platforms in more than 20 languages


It is indeed a great alternative to Robinhood.

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Risk Warning:

By investing in or trading financial instruments, commodities and any other assets, you are taking a high degree of risk. You can lose all your deposited money. You should only engage in any such activity if you are fully aware of the relevant risks.

Contracts for Difference ("CFDs") are leveraged products and carry a high level of risk to your capital as prices may move unexpectedly against you. Losses can exceed your deposits, and you may be required to make further payments. 74 - 89% of retail clients lose money when trading CFDs. You should consider whether you can afford the high risk of losing your money. These products may not suit all clients; therefore, ensure you understand the risks and seek independent advice.

  

 

Disclaimer:

 

The information on this website can be accessed worldwide. However, this information and the products and services referred to on this website are only intended for recipients based in jurisdictions where the use of or access to the information, products or services does not constitute a breach of any law or regulation.

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