Investing Simple Logo
Get 1 Free Stock Worth Up To $200 From Robinhood!
Sign up with Robinhood, deposit any amount and get 1 Free Stock. It takes less than 3 minutes to sign up and claim your Free Stock Bonus.
Earn 5.00% APY with M1 High-Yield Savings Account
M1 Plus members can earn 5.00% APY on their deposits with no minimum balance required.
Webull free stock promotion
Get Up To 5 Free Stocks From Webull
Open a new Webull brokerage account today and deposit any amount of money to receive 5 free stocks. Webull offers commission free stock, ETF, option and crypto trading.
Written by Cho Evelína on March 26, 2023
Category: 
FTC Disclosure: Some of the links on this site are affiliate links. Read our full disclaimer here.

Why Is Robinhood Charging Me Money?

If you're using Robinhood and have noticed that you're being charged money, you might be wondering why that is happening.

However, there are a few optional features that you can sign up for that come with a monthly fee.

Limited Time: Robinhood 1% Transfer Bonus

If you transfer an existing brokerage account to Robinhood through December 8th, 2023, you can get an Unlimited 1% Transfer Bonus.

Robinhood Transfer Bonus

For example, if you transferred a brokerage account worth $50,000 - that would be a bonus of $500.

In addition, Robinhood offers a free stock for new users as well as a 1% IRA match for retirement accounts.

Robinhood Gold

One of these features is called Robinhood Gold.

For $5 a month, you get access to premium features such as the ability to trade on margin, access to research reports and larger instant deposits.

It's important to note that the first 30 days of Gold are free, and you will only be charged after your trial period ends.

Margin Investing

Trading on margin means that you're borrowing money from Robinhood to buy stocks.

If you have a margin balance, you'll be charged monthly interest on that balance, in addition to the $5 monthly fee for Gold.

The amount of interest you'll pay will depend on the amount of the margin loan and the current interest rate.

If you don't want to pay for Gold anymore, you can downgrade your account to a standard account.

However, if you have a margin balance, you'll need to pay it off first before you can downgrade.

Once you've paid off your margin balance, you can cancel your Gold subscription and go back to using Robinhood for free.

Conclusion

In summary, if you're being charged by Robinhood, it's likely because you've signed up for one of their optional features such as Robinhood Gold.

If you're trading on margin, you'll also be paying interest on your margin balance.

If you don't want to be charged anymore, you can downgrade your account and pay off your margin balance.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Cho Evelína

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2023 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™
magnifiermenuchevron-downcross-circlechevron-down-circle

Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

18749
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram