Is Robinhood Gold Worth It? Helpful Features in 2024

In the event you’ve been utilizing the Robinhood app for some time, you’re in all probability comfy with the fundamentals of begin buying and selling along with your free Robinhood account.

Robinhood is an easy, user-friendly program that will get the job performed.

However as you develop extra assured in your investing journey, you may begin questioning about what extra the platform has to supply.

This brings us to a typical query amongst customers: “Is Robinhood Gold price it?” Or do the premium options not do a lot for the typical investor?

Take a look at my breakdown of how its unique perks, like real-time market insights and complete inventory analyses, might turbocharge your buying and selling choices.

Key Takeaways

• Robinhood Gold is their premium account that provides enhanced options for a $5 month-to-month charge.
• Thee premium options: bigger instantaneous deposits, entry to skilled analysis and Degree II market knowledge, curiosity on uninvested cash, and a decreased rate of interest for margin buying and selling.
• Immediate deposit limits for Robinhood Gold subscribers can vary from $5,000 to $50,000, relying on the account steadiness and standing.
• Gold clients of Robinhood get a better APY on uninvested money and pay curiosity from 1.5% to five.00% APY.​

Ultimate Verdict: Is Robinhood Gold Price It?

Deciding whether or not Robinhood Gold is well worth the improve hinges in your buying and selling model and what you anticipate from an funding platform.

For some, the additional perks of Robinhood Gold are essential to guard their investments and get extra money from their uninvested money.

The in-depth analysis stories will help passive buyers make smarter, extra knowledgeable choices. Margin buying and selling is a characteristic that has many skilled buyers sitting up and taking discover.

On the flip facet, in case you have fewer funding funds or don’t plan on leaving uninvested money, sticking with the free model is perhaps your greatest guess to extend your portfolio worth.

Robinhood Run Down

Robinhood has been a game-changer within the funding world, shaking issues up with its commission-free buying and selling.

You may commerce shares with out forking over further money in charges. It was a pioneer for it and has been the go-to platform for many new buyers.

However there’s extra to this app than simply free trades. It affords a bunch of cool extras for a small month-to-month charge.

Robinhood Gold isn’t simply an add-on; it’s a technique to improve your investing technique.

By choosing this premium subscription, you acquire entry to highly effective instruments not obtainable with the usual free account.

In the event you haven’t invested with Robinhood earlier than, I recommend signing up after studying my in-depth Robinhood Evaluate.

Each Robinhood Plans

Robinhood isn’t a one-size-fits-all platform; it affords totally different plans to cater to the various wants and ambitions of its customers.

Listed below are some key variations between having the free model and Robinhood Gold:

Free Robinhood Account

• Fee-Free Trades
• Consumer-Pleasant Interface
• Entry to Primary Investing Instruments
• Immediate Deposits
• No Account Minimal

Robinhood Gold 

• Superior Options for a Month-to-month Price
• Margin Buying and selling
• Larger Immediate Deposits
• In-depth Market Analysis
• 5% Curiosity on Uninvested Money
• Greater Insurance coverage (FDIC): as much as $1.5 million
• Degree 2 Market Knowledge (MorningStar)

Robinhood Gold Options & Price

Now that we’ve talked in regards to the fundamentals, let’s go over Robinhood Gold extra in-depth to get a greater understanding of the price and what options you get entry to.

Price

Although Robinhood is a commission-free buying and selling web site, there are nonetheless some charges you must find out about.

The Robinhood platform retains issues clear, which means there aren’t any hidden charges sneaking up on you with the Robinhood Gold price.

You’re a $5 month-to-month charge to hitch the membership as a Gold subscriber.

Sometimes, Robinhood costs a 12% customary margin rate of interest. This curiosity will get calculated every day. Then, on the finish of your 30-day billing cycle, Robinhood totals up any costs and allows you to know.

However as a Robinhood Gold subscriber, that goes down to eight%. That $5 month-to-month charge might truly pay for itself simply in saving on margin investing!

Now that the fundamental prices, let’s get into the options you’d get.

Margin Investing

In the event you’re a Robinhood member, you may borrow cash instantly from Robinhood to leverage your investments while not having to deposit cash out of your pocket.

That’s principally what margin investing is- borrowing cash to place it proper into investments.

You may get entry to margin investing with the free model, however Robinhood Gold members get entry for much less curiosity on borrowed cash.

A decrease rate of interest below the Gold plan makes borrowing less expensive, probably main to higher monetary outcomes.

Larger Immediate Deposits

One of many standout perks of a Gold membership with Robinhood is getting a bump in your instantaneous deposit restrict.

Merely put, it provides instant entry to your cash so you may commerce instantly, even whereas your deposit is making its approach out of your financial institution to your brokerage account.

For Robinhood members, the scale of your instantaneous deposit restrict is determined by elements like how a lot you have got in your brokerage account and your total portfolio worth.

In the event you’re a part of the Gold Membership, you might see instantaneous deposit limits as beneficiant as $50,000. That’s lots of belief and lots of potential trades you may leap on whereas your precise money is en route.

Curiosity On Univested Money (APY)

In relation to making your uninvested money give you the results you want, Robinhood Gold members get a bit extra bang for his or her buck when cash is ready to be invested.

Any Robinhood members can obtain a 3.75% APY on their uninvested money, producing an additional circulate of passive earnings.

However with a Robinhood Gold account, you employ the choice to allow money sweep to earn 5.00% APY in your uninvested money balances.

The curiosity is compounded each day after which paid out month-to-month to Robinhood clients by program banks.

Whereas the brokerage money sweep is a good perk, it’s at all times clever for buyers to match choices.

Excessive-yield financial savings accounts, like Chime, will also be a great place to have your financial savings outdoors of investing put to higher use.

Degree II Market Knowledge (NASDAQ)

Degree II market knowledge is one other standout perk of the Robinhood Gold subscription. It’s like getting a behind-the-scenes take a look at the market’s transferring components with Degree II knowledge.

It affords a glimpse into not solely one of the best bid and ask costs but in addition exhibits extra orders within the queue.

Degree II market knowledge gives buyers with an in depth view of the inventory market’s order ebook, displaying not simply one of the best bid and ask costs but in addition the scale of orders at totally different value ranges.

It provides you insights into market depth, momentum, and the positioning of Nasdaq alternate contributors.

This data is essential for buyers as a result of it provides a clearer image of provide and demand for inventory at varied value factors.

Morningstar Analysis

In the event you’ve acquired a Robinhood Gold subscription, you’re in for a deal with with limitless entry to Morningstar’s analysis stories. 

Morningstar is like that know-it-all pal who’s at all times acquired the news on over 1,700 shares. These aren’t simply any stories however skilled analysis that offers superior market knowledge.

Right here’s why these stories are cool:

• In-depth Experiences: You get the complete lowdown on a inventory, not simply the surface-level stuff.
• Worth Evaluation and Projections: Morningstar breaks down present inventory costs and offers you its tackle the place issues is perhaps headed.
• Well timed Insights: Proper after an organization drops its earnings report, Morningstar’s acquired evaluation prepared that can assist you perceive what all of it means.

FAQS

Is Robinhood protected?

Sure, Robinhood is protected to make use of as a result of it’s a member of the Securities Investor Safety Company (SIPC).

Your funds are protected as much as $500,000 for securities and $250,000 for money claims within the occasion of dealer failure.

However in terms of crypto, that’s a special story. Crypto’s a bit just like the wild facet of investing—thrilling however with out the SIPC security web.

Whereas Robinhood clients have the SIPC safety for securities, bear in mind crypto performs by its personal guidelines as a digital foreign money.

Is Robinhood Gold a great factor?

If you end up buying and selling on margin usually otherwise you’re all about absorbing these detailed analysis stories and knowledge, Robinhood Gold may very well be useful for you.

At simply $5 a month, it’s like snagging a front-row seat to some unique advantages that would actually give your investing technique a lift.

Can I earn more money utilizing a Robinhood Gold account?

Making extra money with a Robinhood Gold account actually is determined by how savvy you’re along with your buying and selling methods plus your portfolio worth.

The cool half? These further bells and whistles that include Gold might be tremendous useful for Gold members trying to boost their returns.

The extra money you have got prepared to speculate, the extra probably you’re to wish to use Robinhood Gold to insure your cash and get extra margin buying and selling for lesser curiosity.

Can I get a free trial for Robinhood Gold?

In the event you’re eyeing that Gold membership, particularly for entering into margin buying and selling, Robinhood rolls out the crimson carpet with a 30-day free trial for newbies.

Only a heads up: bear in mind to mark your calendar as a result of should you determine to stay with Gold and don’t cancel earlier than the trial’s up, you’ll see a $5 cost kicking off every new billing cycle.

What are different plan choices with Robinhood?

Robinhood retains it easy with two major plans: the free primary plan and the Gold membership.

The essential plan is nice for starters, providing commission-free trades and the important options you want with none month-to-month charge.

The essential plan has some limits. These embody switch caps throughout accounts, attainable restrictions in your brokerage account, and guidelines towards sample day buying and selling for these not utilizing money accounts.

Are there any freebies for signing up with Robinhood?

Once you join Robinhood and hyperlink your checking account, you’ll get a free inventory price between $5 to $200.

Most folk land a inventory slice round $5 to $10, however there’s nonetheless an opportunity for extra.

Plus, with Robinhood’s referral program, every pal you deliver on board earns each of you a free inventory slice from big-name corporations, capping at $1,500 in free shares yearly.

Do you get dividends each month with Robinhood Gold?

Whether or not Robinhood Gold members see dividends each month hinges on the sorts of shares of their brokerage accounts.

In a Robinhood account, month-to-month dividends come from shares particularly providing them, whereas others might go for quarterly or yearly distributions.

Robinhood doesn’t enable you make investments your funds or provide you with recommendation on what to do- you’ll should be good, ticking investments that pay out higher dividends.

Ultimate Ideas

Robinhood is such a preferred platform and for lots of excellent causes. However is Robinhood Gold any higher than the free account?

Robinhood Gold affords a spread of options designed to reinforce your buying and selling expertise.

For a month-to-month charge of $5, subscribers get entry to margin investing, bigger instantaneous deposits, curiosity on uninvested money, Degree II market knowledge from Nasdaq, and limitless Morningstar analysis stories.

Nevertheless, whether or not Robinhood Gold is price it is determined by your buying and selling habits, targets, and preferences.

Some buyers might discover the additional options price the price, whereas others could also be content material with the free primary plan.

It’s essential to guage the Robinhood Gold provide and see if it aligns along with your funding wants.