Is Robinhood Available in Canada?
When Robinhood first entered the online brokerage world, its “gamified” approach to commission-free trading changed the way many young investors engaged with the stock market. With its sleek mobile app and zero-commission trades, the platform quickly attracted a new generation of first-time traders.
But, since going public – and especially after the release of the 2023 film Dumb Money – Robinhood has faced growing criticism. During this period, its stock price was closely tied to the hype surrounding crypto and meme stocks. However, over the past year, its stock price has been on the up-and-up, with both Forbes and Yahoo Finance weighing in on its recent growth surge.
Many DIY investors in Canada have been wondering if Robinhood will expand north of the US border. At this point, though, that seems unlikely. The good news? There are plenty of great alternatives on our list of the Best Online Brokers in Canada. Honestly, even if Robinhood were available here, I’d still steer you toward platforms that don’t rely on questionable practices like payment for your data.
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Can I Use Robinhood in Canada?
Robinhood is not available in Canada, yet they are beginning to plant some roots. In the summer of 2024, they opened an office in Toronto, which now has over 140 employees. And in 2025, Robinhood Markets acquired the Canadian crypto firm, WonderFi Technologies. So, this start is not stock trading-focused, but crypto-focused. You won’t even be able to find/download the Robinhood app in Canada.
Meanwhile, in March 2024, across the Atlantic, Robinhood launched in the UK, but it only allows for the purchasing of US shares commission-free. It does not allow for the purchase of UK shares, mutual funds, bonds, or ETFs.
And, as of June 30, 2025, Robinhood is available in the EU for all 31 EU/EEA countries. However, the offerings available in the EU are even more limited, with only tokenised U.S. stocks, ETFs, private-company tokens, and crypto derivatives.
All this to say that Robinhood is still finding its footing outside of the US and is not an option in Canada.
Never fear, excellent Robinhood alternatives in Canada are here!
Here are our best picks for the best stock trading apps right here in your own backyard that will give you the same benefits as Robinhood (or even more).
Best Robinhood Alternatives For Canadians
4.9 / 5$6.95 - $8.75
Free buying AND selling of 100+ ETFs
4.3 / 5Free Stock Trading
Free to buy and sell ETFs
4.2 / 5$9.99 (first 50 trades free)
Only TD ETFs are free via Easy Trade, otherwise $9.99 per trade
4.1/ 5$9.95
Free buying and selling of 100 ETFs
No Available Promotion
3.6 / 5$6.95
$6.95
No Available Promotion
3.4 / 5Free
Free to Buy And Sell
Alternatives to the Robinhood App in Canada
As we’ve highlighted above, while Canadians don’t have access to the Robinhood platform you still have great choices when it comes to commission-free brokers in Canada. The best choice for you will depend on your investment strategy, what level of service you expect from your online brokerage, and how much importance you place on free trading options.
Three Canadian alternatives are Qtrade, Questrade, and Wealthsimple Trade. We specifically recommend the first two of the three, but the best choice for you depends on your needs and your investing strategy.
Keep in mind, you have the choice between robo advisors and discount brokerages here. Both Wealthsimple and Questrade offer options for each; however, since Robinhood is a discount brokerage, we are going to be focusing on comparing the brokerage aspects of each company to help you find the best Robinhood-like app in Canada.
Robinhood vs. Wealthsimple
When it comes to Robinhood equivalents in Canada, Wealthsimple Trade is a top contender, especially for those looking for free trades.
Now, before we dive in too far when it comes to this one-on-one comparison I should point out that the idea of a “free discount broker” is a bit of a misnomer. The brokerages still make money on currency conversion, cash accounts, selling your order information to other banks (one thing regulators are considering putting a stop to), and so on.
This is one reason why Wealthsimple Trade is our third choice out of the three – despite the slightly more expensive fee structure, we recommend other, much-better resourced Canadian discount brokerages.
| Wealthsimple Trade | Robinhood | |
| Free ETFs Purchases and Stock Trades | Yes, but there is a 1.50% base conversion fee on US trades. | Yes |
| RRSP, TFSA, non-Registered accounts | Yes | No, although they do offer the US-equivalent retirement accounts for US citizens. |
| Fractional Shares Offered | Yes | Yes |
| Cryptocurrency Purchases | Yes | Yes |
| Account Minimum | None | None |
| Monthly Fees | None | None, unless you sign up for Robinhood Gold, then it’s $5 per month. |
| User Experience | he mobile app has greatly improved in the last couple of years, and they have a web app as well. | Excellent, clean interface is easy to navigate on both the mobile and desktop versions |
| Safety and Security | Implements top notch safety and security to keep user information safe, and customer accounts are protected by the Canadian Investor Protection Fund. | Questionable practices, such as sharing your trading information with other banks as well as concerning hacks into the platform. |
Wealthsimple Trade is a $0-per-trade brokerage in Canada. That means for any share or ETF, you don’t have to pay anything to either buy or sell. There is a 1.50% base conversion fee when you make US trades, however.
Another big perk to using Wealthsimple Trade is that there is no account minimum, making it an ideal choice for young investors or those just starting out.
While Wealthsimple Trade shares a no-trading-fees structure with Robinhood, its platform leaves much to be desired, and its drastic deficit in user experience, as well as investor education tools should be noted by Canadian investors
While Wealthsimple Trade shares a no-trading-fees structure with Robinhood, its platform leaves much to be desired, and its drastic deficit in user experience, as well as in investor education tools, should be noted by Canadian investors.
Top Wealthsimple Trade Features
- $0 trades- no restrictions/exemptions
- RRSP, TFSA, RESP, FHSA, non-Registered accounts
- No inactivity fees
- No monthly fees
- No minimum required to open an account
Plus, when you sign up for Wealthsimple Trade with us, you are entitled to our MDJ exclusive promo which means when you fund $1 you will receive a $50 cash bonus. You can learn more in our Wealthsimple Trade review..
Robinhood vs Qtrade or Questrade
Even though they’re not free stock trading platforms, the best alternatives for people searching for Robinhood in Canada are our top 2 preferred online brokerages for Canadians: Qtrade and Questrade. The added features and benefits blow Wealthsimple Trade out of the water and make it worth the slightly increased cost.
While Questrade and Qtrade aren’t free, fees are relatively low and you can still find no-fee ETFs to build an ETF portfolio. It’s also worth noting that there are no annual administrative fees and they have the best USD trading options in Canada, plus a large range of account options (something which Wealthsimple Trade lacks).
There is simply no comparison when it comes to the user experience and customer service aspects of these discount brokerages relative to Wealthsimple Trade. Qtrade especially shines when it comes to these aspects, and they proved just how important these areas were during the recent pandemic.
While most brokerages had crazy long wait times in order to use their services, Qtrade was one of the very few that managed to keep their wait times for service short.
Top Qtrade Brokerage Features:
- Free ETF trades
- Award-Winning Customer Service
- Excellent Platform
- Large variety of account options including RRSP, TFSA, RESP, FHSA, Non-Registered, LIRA, RIF, LIF, Joint Accounts, and Corporate Accounts
- Ability to hold USD
- Access to data platforms, watchlists, news, and other information services
- Access to stock exchanges other than TSX and NYSE
Plus, when you sign up for Qtrade you get up to $2000 in cash back, based on your initial deposit.
Is Robinhood In Trouble In the USA?
As I mentioned before, Robinhood has come under a lot of pressure over the last few years as its revenues from highly-volatile asset trades like cryptocurrency have shrunk. It has also faced competition from other brokerages that have rapidly cut more costs to appeal to fee-conscious investors.
Likely the biggest threat to Robinhood though (and what has likely prevented Robinhood from coming to Canada) is the reputational damage the Gamestop saga did to their brand. By making choices that led to the downfall of thousands of their most passionate users, the company didn’t do a lot to bolster its reputation.
Furthermore, the situation was blown out to the widest audience possible by the Seth Rogen movie “Dumb Money” and the Netflix documentary “Eat the Rich”. If you’ve watched these two Hollywood interpretations of events, you’ll know that Robinhood (and its founders Vladimir Tenev and Baiju Bhatt) don’t come off looking so good.
However, come 2025, have people forgotten about this? At the time of writing (August 2025), Robinhood Markets (NASDAQ:HOOD) stock is up nearly 170% year-to-date. There are clearly some people who still believe in it, but it will take time to see if this growth is sustained or not. And we don’t expect to see it in Canada anytime soon!
Best Robinhood Alternative for Day Traders
Robinhood’s easy-to-navigate platform and no-commission trades make it a great choice for day trading. But what’s a day trader to do in Canada when Robinhood isn’t available?
You can read more about Canada’s best day trading alternatives in our list of the Top Canadian Trading Platforms, but our top recommendation is AvaTrade Canada.
With elite research tools and a range of assets including forex and CFD trading options, plus a lower fee than our top recommended brokerages, Avatrade is built for day traders.
That being said, we don’t recommend day trading for the average Canadian investor. It requires a lot of knowledge, skills, and time (not to mention risk tolerance) to do right. Proceed at your own risk. And if you want to have some more stable registered accounts such as an RRSP and a TFSA as well (and you should), then Qtrade or Questrade are top picks.
Robinhood For Canadians: FAQ
So What is The Best Robinhood Alternative in Canada?
If Robinhood isn’t available in Canada, what’s the best move for new investors — or anyone tired of paying traditional big-bank trading fees?
Personally, I recommend checking out Qtrade or Questrade. They consistently rank at the top of my list of the best trading platforms in Canada, thanks to their low-cost trades, user-friendly mobile apps, and — in Qtrade’s case — exceptional customer service.
Both platforms offer free ETF trading and have no account fees, giving them a clear edge over the big banks. If you’re looking for a smart balance of powerful features and affordable pricing, Qtrade and Questrade stand out as two of the strongest options available right now.
And, for the icing on your investing cake, Qtrade is rolling out what might be the best brokerage promotion I’ve ever seen. Clearly, they’re looking to scoop up market share from the competition, because if you open an account right now, they will provide you with four valuable bonuses:
1) You’ll get up to $2000 cash back in your new Qtrade Direct Investing Account, depending on how much you deposit. For deposits of $1-$15,000, get 5% cash back on every dollar deposited for up to $750.
2) If you deposit over $15,000 you’re going to receive the $750, plus an additional 1% cash back on every dollar deposited up to a total cash back amount of $2000.
3) If you’re a NEW client, you’re going to receive unlimited FREE trades until December 31, 2025 – an ideal window to build your portfolio before the end of year!
4) Switching to Qtrade won’t cost you a dime in transfer fees. Most brokerages tack on a charge – often around $150 – when you move your account elsewhere, but Qtrade will cover that bill for you. And yes, that’s on top of all the cash-back perks I mentioned earlier.
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