Robinhood at a Glance
| Feature | Rating | Details |
|---|---|---|
| Investment Options | ★★★★★ | Stocks, Options, ETFs, Cryptocurrency, Futures, Event Contracts |
| Trading Costs | ★★★★★ | Zero commission trades, no options contract fees, competitive margins |
| Account Fees | ★★★★★ | No annual/inactivity fees; $100 outgoing transfer fee |
| Account Types | ★★★★★ | Individual brokerage, Traditional/Roth/Rollover IRAs; no minimum deposit |
| Trading Platforms | ★★★★★ | Mobile/web platforms with screeners, alerts, advanced charts |
| Cash Sweep Rates | ★★★★★ | Up to 4% APY on uninvested cash (with Robinhood Gold) |
👉 Explore Robinhood's features
Why Robinhood Stands Out
Best for Beginner and Intermediate Traders
Robinhood simplifies market participation with intuitive tools, fractional shares ($1 minimum), and 24/5 trading. Key innovations include:
- Automated Investing: Robinhood Strategies for Gold members.
- 24-Hour Market: Trade select stocks/ETFs outside standard hours.
- IRA Matching: Up to 3% match for Gold subscribers.
Latest Updates (2025)
- June 30: Launched US stock/ETF tokens and crypto futures in EU/US.
- March 26: Introduced Robinhood Strategies (robo-advisor) and AI assistant.
- March 17: Prediction markets hub for event-based trading.
Top Features
Robinhood Gold ($5/month):
- 4% APY on uninvested cash.
- Morningstar research + Level 2 Nasdaq data.
- 3% IRA match (up to $210/year).
Crypto Control:
- Trade 20+ cryptocurrencies; self-custody wallet support.
User-Friendly Design:
- Clean UI for seamless navigation.
Advanced tools like Robinhood Legend (desktop platform):
- Technical indicators, custom layouts, multi-monitor support.
Drawbacks to Consider
- Limited Assets: No mutual funds, bonds, or forex.
- Research Tools: Morningstar reports require Gold subscription.
- Financial Data: Lacks detailed income statements/balance sheets.
Fees Overview
| Fee Type | Cost |
|---|---|
| Stock/ETF/Crypto Trades | $0 |
| Robinhood Gold | $5/month or $50/year |
| Margin Rate | 5.75% (first $1K interest-free) |
| Crypto Spread | 0.60% |
Is Robinhood Safe?
- Regulated: SEC/FINRA member; SIPC insured ($500K coverage).
- FDIC Insurance: Up to $2.25M via partner banks for cash sweeps.
- Crypto Security: Cold/hot storage mix; crime insurance policy.
Customer Sentiment
| Platform | Rating (2025) |
|---|---|
| Trustpilot | 1.2/5 (4,039 reviews) |
| App Store | 4.3/5 (4.5M reviews) |
| Google Play | 4.2/5 (518K reviews) |
Mixed Reviews: Praise for ease-of-use; criticism for past outages.
Robinhood vs Competitors
| Platform | Asset Types | Fees | Min Deposit | Signup Bonus |
|---|---|---|---|---|
| Robinhood | Stocks, Crypto, Futures | $0 | $0 | Free stock |
| SoFi Invest | Stocks, Mutual Funds, ETFs | $0 | $0 | Up to $1K in stock |
| OPTO | Stocks, ETFs | $0 | $0 | Earn up to $300 |
FAQs
How many accounts can I open?
Robinhood supports multiple accounts (brokerage + IRAs).
Can I withdraw IRA-matched funds?
Funds must stay 5+ years to avoid early removal fees.
When does trading start?
- Pre-market: 7–9:30 AM ET
- Regular: 9:30 AM–4 PM ET
- After-hours: 4–8 PM ET
- 24-hour market: Sun 8 PM–Fri 8 PM ET.
Is day trading allowed?
Limited to 3 day trades/5 days for accounts under $25K.
How does Robinhood earn revenue?
Payment for order flow, margin interest, and Gold subscriptions.
What’s the Robinhood Cash Card?
FDIC-insured debit card with cashback, no fees, and round-up investing.
Final Verdict: Robinhood excels for beginners with zero fees and intuitive tools but lacks advanced assets. Gold membership enhances value for active traders.
👉 Start trading today