Robinhood Gold costs $5 per month
Robinhood Gold is a paid membership tier within the Robinhood brokerage app. The monthly subscription fee is $5. You can cancel at any time without penalty, and the subscription renews automatically each month unless you turn off auto-renewal in your account settings.
The membership gives you access to specific trading features and account tools that are not available to free Robinhood users. The value depends on how much you trade and whether you use margin (borrowed money to buy securities). If you do not use margin or trade frequently, the $5 monthly cost may not be worth it for your situation.
Key Takeaways
- Robinhood Gold membership costs $5 per month and can be cancelled anytime without fees.
- The main benefit is access to margin, which lets you borrow money from Robinhood to buy stocks and options.
- You also get extended trading hours (4 a.m. to 8 p.m. Eastern time instead of the standard market hours) and higher daily withdrawal limits.
- Gold membership requires a minimum account balance of $2,000 to activate and maintain.
What features come with the $5 monthly fee
The core feature of Robinhood Gold is margin trading. This means Robinhood lends you money so you can buy more securities than your cash balance allows. The amount you can borrow depends on your account balance and the type of security you are buying. You pay interest on borrowed money, and that interest is separate from the $5 monthly fee.
Gold members also get extended trading hours. Instead of trading only during standard market hours (9:30 a.m. to 4 p.m. Eastern time), you can place trades from 4 a.m. to 8 p.m. Eastern time. This includes pre-market and after-hours trading, which can be more volatile and have wider bid-ask spreads than regular hours.
You receive higher daily withdrawal limits as a Gold member. Free Robinhood users can withdraw a set amount per day; Gold members get a higher threshold. The exact limit depends on your account type and history, so check your account settings for your specific number.
The $2,000 minimum balance requirement
To activate Robinhood Gold, your account must have at least $2,000 in total value (cash plus securities). If your account balance falls below $2,000, Robinhood will suspend your margin privileges and extended trading access until you deposit more funds to bring the balance back above $2,000.
This minimum is separate from any margin requirement. Even if you are not borrowing money, you still need $2,000 in your account to keep the membership active. If you drop below $2,000 and do not restore it within a set period, Robinhood may cancel your Gold membership automatically.
Interest charges on borrowed money
The $5 monthly fee covers only the membership itself. If you borrow money through margin, you pay interest on top of that fee. Robinhood's margin interest rate varies based on how much you borrow and current market conditions. The rate is typically between 5% and 12% annually, but you should check Robinhood's current rates in your account before borrowing.
Interest is charged daily on the amount you have borrowed and is deducted from your account. This is a real cost that can add up quickly if you carry a large margin balance. Many traders use margin only for short periods to avoid accumulating interest charges.
Whether Gold membership makes sense for you
If you trade stocks or options frequently and want to use margin or trade outside regular market hours, the $5 monthly cost is usually worth it. The membership pays for itself if you use margin strategically or take advantage of extended hours trading.
If you buy and hold stocks, rarely trade, or do not want to borrow money, the free Robinhood account is sufficient. You will not recoup the $5 monthly fee unless you actively use the margin or extended hours features. Calculate whether the features you would actually use justify the cost over a year ($60).
How to sign up or cancel Gold membership
To activate Robinhood Gold, open the Robinhood app, go to your Account settings, and look for the Membership or Gold section. You will see the option to upgrade. Robinhood will confirm that your account meets the $2,000 minimum and will charge your linked payment method $5 per month starting immediately.
To cancel, return to the same Account settings menu and select the option to downgrade or cancel your membership. The cancellation takes effect at the end of your current billing cycle, so you will not be charged again. Your margin access and extended trading hours will be removed once the cancellation is final.
Frequently Asked Questions
Can I use margin without Robinhood Gold?
No. Margin trading is only available to Robinhood Gold members. Free Robinhood accounts cannot borrow money to buy securities. You must have an active Gold membership and meet the $2,000 minimum balance to use margin.
What happens if my account drops below $2,000?
Robinhood will suspend your margin privileges and extended trading access. You can still trade during regular market hours with cash you have in your account. Your Gold membership may be cancelled automatically if your balance stays below $2,000 for a certain period. Check Robinhood's policy for the exact timeline.
Is the $5 monthly fee worth it if I only trade occasionally?
Probably not. If you trade a few times per month and do not use margin or extended hours, you will spend $60 per year on features you do not use. The free Robinhood account is sufficient for casual investors who buy and hold.
Can I get a refund if I cancel Gold membership?
Robinhood does not refund the monthly fee once it has been charged. If you cancel mid-month, you will not receive a prorated refund for the unused portion. Plan your cancellation for the end of your billing cycle if you want to avoid paying for a month you do not use.
Does Robinhood Gold include financial advice?
No. Robinhood Gold is a trading platform membership, not an advisory service. You do not receive personalized investment recommendations or financial guidance. You are responsible for your own trading decisions and research.