![]() ![]() A Robinhood Retirement account differs from other IRAs by offering a 1% match on external deposits to help with your portfolio's growth. Robinhood gives you access to a taxed brokerage account as well as a tax-advantaged individual retirement account (IRA) for retirement savings. Thus, Robinhood was born.īefore Robinhood became available to the public in 2015, 800,000 people signed up for its waitlist. As of March 2022, there are over 22 million active Robinhood customers after it gained popularity among millennials in 20 during the GameStop meme stock rise. This led to the decision to move back to California, where they built a stock trading platform that leverages technology and simplicity to democratize access to the financial markets. Immersed in the world of finance, Tenev and Bhatt quickly realized the discrepancy between what big Wall Street firms were paying to trade stocks and what most Americans were charged for every trade - up to $10 each trade for the average person. The duo had previously built two finance companies that sold trading software to financial institutions in New York City. Check out Robinhood Financial’s Fee Schedule for details.Robinhood was founded in 2013 by Stanford roommates and classmates Vladimir Tenev and Baiju Bhatt. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. listed securities and certain OTC securities electronically. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.Ĭommission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options trading entails significant risk and is not appropriate for all customers. RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement). RHC is not a member of FINRA and accounts are not FDIC insured or protected by SIPC. ![]() Products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard®. A list of our licenses has more information. The Robinhood spending account is offered through Robinhood Money, LLC (RHY) (NMLS ID: 1990968), a licensed money transmitter. ![]() Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency services are offered through Robinhood Crypto, LLC (RHC) (NMLS ID: 1702840). Brokerage services are offered through Robinhood Financial LLC, (RHF) a registered broker dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (RHS) a registered broker dealer (member SIPC). ![]()
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