Robinhood Gold is an exclusive subscription-based service provided by Robinhood, a well-known financial services company.
This suite of tools, data, and features is designed to provide investors with access to premium features that take their investing to the next level.
However, it's important to note that in order to earn interest, a cash balance is needed.
If you have a margin balance, there is no cash balance to earn interest. Additionally, the interest rate for cash sweep and margin investing can change at any time.
Refer to the official Robinhood website for the most current rates.
Margin investing is an optional feature that allows investors to borrow funds from Robinhood to invest in stocks or other securities.
The first $1,000 of margin used is included in the Gold subscription, and any amount borrowed over that will be subject to a yearly interest rate of 7.25%.
It's important to note that not all investors will be eligible to invest on margin.
Investors who choose to try Gold for free during the first 30 days of their subscription will have the $5 monthly fee waived.
However, if they choose to use margin investing during the trial period, they'll be charged 7.25% yearly interest on any amount borrowed over $1,000.
In addition to the interest rate on uninvested cash and access to margin investing, Robinhood Gold subscribers also get access to other premium features.
These include bigger instant deposits, professional research from Morningstar, and level II market data from Nasdaq.
This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.