10 Robinhood Alternatives for Non-US Citizens, You Should Try in 2022

This article will discuss the Ten Robinhood Alternatives for Non-US citizens. Robinhood Alternatives are ETFs that invest in special purpose acquisition companies (SPACs).

These SPACs provide total return while reducing the downside risk.

How to Open a US Brokerage Account as a Non-US Resident

Interest investors and traders who are “Non-US” residents can open a US brokerage by following these steps.

• Contact a Brokerage Firm that Focuses on Non-US Resident

The first step is to find a particular brokerage firm that focuses on people who are not U.S residents. Even though it may be hard to see a platform that offers these services, many consider them. Keep searching until you identify a brokerage that will work with you irrespective of your residence or location.

• Be Ready to Identify Yourself

It is essential for anyone who intends on opening a brokerage account. You need to provide some vital means of identification, such as a passport or any other government-issued identification.

• Identify Your Citizenship

One major requirement in your registration is to identify your country of citizenship. You will be required to fill out a form that will specify to the brokerage firm whether you are a US citizen or a Non-resident.

• Understand the Services You are Getting

The important thing is to understand the particular service you are getting from the brokerage firm. Normally you will be given the investment services and custody/clearing option. It would help if you got a piece of advice from a specialist who understands the needs and tax considerations.

• Ask Your Advisor Some Questions

When deciding on an advisor, you need to consider asking some questions such as what experience they have in handling cross-border clients, whether they provide cross-border financial planning, and how they can help set up a brokerage account.

• Meet the Professional

Doing this may not be important, but you may decide to meet the professionals. You could set up a meeting to meet them and understand some basic things.

• Sign the Paperwork and Fund the Account

The next thing is to sign the required paperwork, which ordinarily won’t take a long time. Once this process is completed, your advisor can open your account, and it’s left for you to fund it. The best way to fund your accounts is to perform a wire transfer to your bank account.

• Disclose any Special Needs or Request

In the process of opening your account, ensure you inform your advisor of some personal issue, such as if you are involved in a business deal or getting a divorce. To have smooth control of your account, you need to be open and honest.

• Choose Your Investment

After opening your account and funding, be sure to discuss your goals with your advisor as well as your risk tolerance. This will help your advisor ask questions, and from there, you can decide what to invest in.

• Monitor the Account

Maintain a close watch on your account even if you don’t trade often. It’s a good idea to keep an eye on the activities going on in your account.

Read also:

How to Withdraw Money from Robinhood – An Easy Step By Step Guide

How to Reset Robinhood Account – Complete Guide

How to Short a Stock on Robinhood – Complete Guide

10 best Blockchain Stocks Under $1 in Robinhood 2022

Robinhood Review 2022: How it Works, The Pros and Cons of Robinhood App

10 Robinhood Alternatives for Non-US Citizens

The best Robinhood Alternatives for Non-US citizens include:

1. Webull

Webull is a trading platform that offers trading capabilities to traders and investors. Webull educates investors about the market and allows them to try different strategies before actually using their money.

2. SoFi Invest

SoFi Invest is an application that allows traders and investors to trade their money. It offers free trades on stocks, ETFs, and crypto, and traders can buy, sell and trade on different assets.

3. Public.Com

Public.Com is a stock application that gives young traders and investors access to trade. The application offers fractional investing, and investors can invest in big companies through this low-cost offer.

4. Trade Station

Trade Station is opened to the U.S and Non-US residents for trading it is best suited for advanced options and futures traders. The application is suitable for professionals and experts who intend on trading high volumes.

5. ETrade

ETrade offers not just trading possibilities but access to diverse educational materials that will help one decide from different investment options to analyze and modify their portfolio.

6. Coinbase

Coinbase is a renowned platform that allows for trading, buying, and selling crypto assets. The platform has a massive number of users, which indicates its strong security and trust.

7. M1 Finance

M1 Finance is different from Robinhood as it acts as an investment tool commonly known as a Robo-Advisor. It gives access to diverse stock and funds, and investors can choose from over +80 curated portfolios.

8. eToro

eToro is a leading investment platform that offers social trading features to investors, and they can learn and copy the strategies of other traders.

9. FirstTrade

FirstTrade is an online brokerage firm that offers a full range of investment products, and its tool is designed to help traders improve their financial position.

10. Stash

Stash is a user-friendly finance application that provides low cost and an all-in-one platform for investors to automate their investment decisions.

Robinhood Alternatives is an ETF that gives investors and traders a good investment opportunity. It is advisable to follow the steps discussed above to open an account.

We hope this article will help you invest and trade using Robinhood or its alternatives. Drop us a message in our comment section for all your views and opinions.

Watch the video below to know the best Robinhood Alternatives for Non-US Citizens:

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