Robinhood, the American discount broker is not available in Saudi Arabia

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An alternative discount broker to Robinhood for traders in Saudi Arabia

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 (AvaTrade) is more robust, with way more competitive features.

An alternative discount broker to Robinhood for traders in Saudi Arabia

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 is an online broker that offers some of the top trading platforms worldwide. 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


Check out AvaTrade

An alternative discount broker to Robinhood for traders in Saudi Arabia