Robinhood IRA

I opened one up with them this year for that reason. 3% match is a lot.

You do have to have gold though (already had it).

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Sounds like a great offer. What’s the catch?

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Must have your money in the Robinhood IRA for at least 5 years to keep the 3% match. Must have Gold for a year ($5/mo). It ends April 30th of this year, goes back to 1% for any contributions or rollovers after that Which a 1% match is still better than anywhere else I've seen

How long do you have to keep it? Can I rollover my wife’s shite, get the 3%, then send it rightback to Fidelity? Because frick Robinhood

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What’s the catch?

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Robinhood

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Hope you never try and sell/cash out.

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What is the risk of switching to Robinhood?

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Your money is with Robinhood…

From what they’ve said already, you have to be “gold”. Whatever that means. I would think it means you have to be a valued customer by trading a lot. If you’re not “gold” you only get 1% which isn’t really worth the time

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It’s just a $5/month subscription. I don’t believe any particular level of trading is required.

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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.