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Started By
Message
re: Robinhood IRA
Posted on 3/14/24 at 11:49 am to CecilShortsHisPants
Posted on 3/14/24 at 11:49 am to CecilShortsHisPants
quote:
I would think it means you have to be a valued customer by trading a lot.
It’s just a $5/month subscription. I don’t believe any particular level of trading is required.
1
Posted on 3/14/24 at 1:04 pm to Jag_Warrior
quote:
It’s just a $5/month subscription. I don’t believe any particular level of trading is required.
As this person said, gold is just their $5/mo premium subscription that opens up the following:
- Higher interest on uninvested cash
- Higher instant deposit limits
- 3% match on IRA contributions
- Morningstar research access
- Level II market data
- Lower margin rates
Broken down Here vs. standard "Free" robinhood
For example if I were to transfer $10k from my bank to robinhood (for cash account/brokerage or IRA), i can trade all those funds instantly, and they start earning interest instantly, even before the deposit actually occurs which takes a few business days (3-4 business days, usually). If it was a standard account, you only get $1000 to play with until the transfer is complete. So this is nice for "opportunities" if you will.
This post was edited on 3/14/24 at 1:07 pm
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