GM Markets is a permissionless, wallet-native interface to tokenized stocks, ETFs, commodities, and FX, plus on-chain yield vaults across credit, lending, delta-neutral, market-neutral, looping, and active-trading strategies. Connect any supported wallet to trade or allocate. Tokens stay self-custodial in your wallet at all times.
Robinhood is the right choice if you are a US retail trader who wants the deepest US-equity rail and is fine with a brokerage account. Its tokenized-stocks product is the right choice if you want a Robinhood-curated equity list on its own L2. GM Markets is the right choice if you want 8,000+ tokenized stocks plus commodities, FX, and on-chain yield from any wallet, anywhere, on the EVM chains you already use.
Permissionless trading + onchain yield, one wallet.
GM Markets is a permissionless trading interface for tokenized US stocks, ETFs, commodities, and FX. No account, no SSN, no broker approval — just connect a wallet anywhere in the world.
US retail brokerage; tokenized-stocks product on its own L2
Robinhood is a US-licensed retail broker offering commission-free trading of US stocks, ETFs, options, and crypto. In 2025 it launched a tokenized-stocks product for select non-US markets on its own Ethereum L2, with a curated set of US equities issued as wallet-portable tokens. Account opening still requires KYC and broker approval.
robinhood.com ↗| Dimension | GM Markets | Robinhood | Edge |
|---|---|---|---|
| Account model | Wallet connect only, no account | Robinhood brokerage account; tokenized-stocks product still requires KYC at the issuer layer | GM |
| Identity collection | None at GM Markets layer (asset-level jurisdictional gating) | SSN (US), government ID, and broker approval required | GM |
| Geographic access | Available globally to qualified non-restricted jurisdictions | US for the brokerage; tokenized-stocks product live in select non-US markets only | GM |
| Asset coverage | 8,000+ US stocks, ETFs, commodities, FX | Curated set of US equities on the L2 product; broader US stock + ETF + options + crypto in the brokerage app | GM |
| Chain | EVM-native: Ethereum, BSC, Base, Arbitrum | Robinhood L2 only (single chain, custodial issuer) | GM |
| Composability | ERC-20: tokens usable as collateral on Aave, Morpho, Pendle anywhere on EVM | Robinhood-issued tokens are restricted to the Robinhood ecosystem and partner venues | GM |
| Settlement and access | USDC-settled bearer tokens, 24/7 wallet operations on EVM; broker leg settles T+1 | USD in the brokerage; product-specific stablecoin for the L2 launch; account-bound (not bearer) | GM |
| Product depth across chains | Same product (stocks, ETFs, commodities, FX, vaults) on every supported EVM chain | L2 product is single-chain (Robinhood's L2); brokerage app is off-chain only | GM |
| What you actually own | Tokenized claim on a real share held by Flo at IB/Alpaca, bearer-token, transferable | Real share held at DTCC for the brokerage; issuer-issued token for the L2 product | Even |
| Trading hours | User-side wallet operations available 24/7 | Brokerage tied to US market hours plus extended hours; L2 product tracks the issuer's hours | GM |
| Fees | 0.10–0.20% per transaction (VIP-tiered) | 0% commission on most equities (PFOF revenue model); spreads on the L2 tokenized product | Even |
| Best for | Anyone who wants tokenized stocks + commodities + FX + yield in a self-custodial EVM wallet, globally | Retail traders who want a brokerage app, or non-US users comfortable inside Robinhood's L2 ecosystem | Even |
Anyone with a wallet can connect and trade. There is no signup, no account, and no identity collection at the GM Markets layer. Restricted-jurisdiction users are gated at the asset level (geo-blocked rows), not at the user level.
Robinhood's 0% commission is funded by payment for order flow (PFOF), and access requires a Robinhood account with KYC. GM Markets is wallet-native, available globally, EVM-native (no separate L2 to onboard onto), and price-transparent (0.10–0.20% per transaction with no PFOF). The right choice depends on whether the Robinhood rail is available to you and whether you value composability with the rest of DeFi.
Robinhood's L2 product is a curated equity list issued by Robinhood on its own Ethereum L2. GM Markets covers 8,000+ stocks plus commodities, FX, and yield vaults; runs on the EVM chains you already use (Ethereum, BSC, Base, Arbitrum); and is composable with Aave, Morpho, and Pendle out of the box. The L2 product is closer to a bridge between brokerage and on-chain; GM Markets is purpose-built for on-chain.
Not directly. The two systems live on different rails (Robinhood on US brokerage rails or its own L2; GM Markets on Ethereum, BSC, Base, Arbitrum). You would sell on one and buy the equivalent token on the other.
A growing set of vault categories on the same wallet, same UI: RWA vaults (private credit and public RWA sub-categories), DeFi vaults (curator-operated across whitelisted protocols), and Trading vaults (programmable, SMA-style). New vaults are added continuously as curators and issuers come online.
You do. GM Markets is non-custodial. Tokens live in your wallet from deposit to withdrawal. The underlying real-world shares behind tokenized public assets sit at Interactive Brokers and Alpaca via Flo's regulated issuance layer. Vault funds use ForDeFi MPC custody with a published signer quorum.
Permissionless. Wallet connect. No signup. Trade tokenized stocks, commodities, FX, and deposit to onchain yield vaults from one wallet.