Lower Costs and Simplified Investing in One

Zero commission fees

Robinhood is best known for pioneering the idea of zero-commission stock trading. While most other top brokers have followed suit, Robinhood still has a favorable fee structure. For example, in addition to not charging flat commissions on options trades, Robinhood doesn’t impose a per-contract charge either. That’s something that many of the best options platforms still do.

High-quality mobile app

Robinhood’s mobile interface is sleek, and its desktop interface is likewise easy to use. As of March 2024, Robinhood has begun rolling out updates that let users further customize their mobile app dashboard. Users can add widgets to easily track specific stocks, for example.

Fractional shares

Traditionally, if a stock was trading for $500 per share, you needed to have at least $500 to invest in it. Robinhood lets investors buy fractional shares of thousands of stocks, even if they have only $1 to invest. This can be an incredibly valuable tool — it lets you put 100% of your money to work and helps create a diversified portfolio without a ton of investment capital.

IRA match

Robinhood now offers IRA investing for its account holders, and it doesn’t stop there. Robinhood matches 1% of every dollar on all IRA contributions for all members, and 3% for Robinhood Gold users. The match will be available around the same time as your deposit, according to Robinhood, and the match doesn’t count toward your annual contribution limits.

Robinhood Crypto

If you’re interested in cryptocurrencies, Robinhood could be a great choice for you, as Robinhood offers cryptocurrency trading through its Robinhood Crypto service. Customers can buy and sell Bitcoin, Ethereum, Litecoin, and other cryptocurrencies any hour of the day. As of March 2024, there are 15 different cryptocurrencies available on Robinhood. Robinhood is one of the few brokers that allows users to invest in stocks and cryptocurrencies on the same platform and one of the few to offer no-commission crypto trading.

Once you verify your identity and activate two-factor authentication on your Robinhood account, you can withdraw and deposit cryptocurrency assets, with a limit of $5,000 or 10 total transfers within a 24-hour period.

Some cryptocurrency platforms only allow you to make immediate trades, but with Robinhood Crypto, you can use a limit order to set the price at which you want to buy or sell.

Robinhood Gold

While Robinhood is known for being the “no fee” brokerage, the company does have a premium product known as Robinhood Gold. Gold members get the following benefits for a monthly cost:

• Higher interest on uninvested cash
• Higher instant deposit limits
• 1% match on taxable deposits
• 3% match on IRA contributions
• Morningstar research access
• Level II market data
• Lower margin rates
• Robinhood Gold Card access

Users who anticipate sticking with Robinhood for years might find value in the paid subscription. This is especially true if you max out your annual IRA contribution limit or hold big dollar balances in your Robinhood brokerage account.