IS ROBINHOOD AVAILABLE IN ICELAND?
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 (XM) is more robust, with way more competitive features.
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 XM?
With over 3,500,000 clients since it was founded in 2009, XM has grown to a large and well established international investment firm and has become a true industry leader.
XM is currently built of more than 450 professionals with long-year experience in the financial industry.