Robinhood, the American discount broker is not available in India

IS ROBINHOOD AVAILABLE IN INDIA?

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NordFX, the alternative discount broker to Robinhood for traders in India

Unfortunately, Robinhood is not available to local traders, as of Feb 2021, 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 (NordFX) is more robust, with way more competitive features.

NordFX, the alternative discount broker to Robinhood for traders in India

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 NordFX?


NordFX is an international broker with over 10 years of experience in financial markets. Since 2008, the company has been awarded more than 50 prestigious professional awards. The number of accounts opened in NordFX by clients from almost 190 countries has exceeded 1,500,000 as of today.


Last but not least, it is regulated in India, which makes it completely legal to trade with.

NordFX, the alternative discount broker to Robinhood for traders in India