Robinhood is open to U.S. residents aged 18 and over with a valid Social Security number

Robinhood allows individual investors in the United States to trade stocks, options, cryptocurrencies, and other assets through its mobile app and website. You must be at least 18 years old, a U.S. resident or citizen, and able to provide a valid Social Security number to open an account. The platform does not serve professional traders or institutional investors — it is built for individual retail traders.

Account opening is straightforward: you provide your name, address, date of birth, and employment information, then link a bank account for deposits and withdrawals. Robinhood verifies your identity electronically and typically approves accounts within minutes to a few hours. Once approved, you can begin trading immediately, even if you have not yet deposited money — Robinhood offers a small amount of buying power to new users.

Key Takeaways

  • You must be 18 or older, a U.S. resident, and have a valid Social Security number to open a Robinhood account.
  • Robinhood serves individual retail traders, not professional traders or institutions, and does not offer accounts for businesses or trusts.
  • Account approval usually takes minutes to hours after you submit your identity information and link a bank account.
  • Robinhood offers commission-free trading on stocks, options, and cryptocurrencies, but margin accounts and options trading require additional approval steps.
  • Some account features — like margin trading or options — have separate requirements and may not be available to all users.

What types of accounts Robinhood offers

Robinhood offers two main account types: a standard cash account and a margin account. A cash account is the default. You can only trade with money you have already deposited, and you must wait for trades to settle (typically two business days) before you can use those funds again. This account type has no minimum deposit requirement and no monthly fees.

A margin account lets you borrow money from Robinhood to trade with more capital than you have deposited. Margin accounts require a minimum deposit (currently $2,000, though this varies) and charge interest on borrowed funds. Robinhood must approve your margin account separately, and approval depends on your account history, trading experience, and financial situation. Margin accounts carry higher risk because losses can exceed your initial deposit.

For options trading, Robinhood requires a separate approval process. You must meet minimum account requirements and demonstrate understanding of options risk. Robinhood assigns options traders to one of four approval levels, each allowing different strategies — from covered calls and cash-secured puts at level one to spreads and other complex strategies at higher levels.

Age, residency, and identity requirements

You must be at least 18 years old to open any Robinhood account. Robinhood does not offer accounts for minors, even with parental co-signature. If you are under 18, you cannot trade on the platform.

You must be a U.S. resident or citizen. Robinhood does not serve non-residents or people living outside the United States. If you move abroad, you may be required to close your account. Robinhood verifies residency through the address you provide during account setup.

A valid Social Security number is required for all accounts. Robinhood uses this to verify your identity and comply with federal tax and anti-money-laundering rules. If you do not have a Social Security number, you cannot open an account.

Who cannot trade on Robinhood

Robinhood does not serve professional traders, institutional investors, or businesses. If you are registered as a professional trader with the SEC or FINRA, or if you trade for a living, Robinhood may restrict or close your account. The platform is designed for individual retail investors, not those who trade full-time or manage money for others.

Robinhood also does not offer accounts for trusts, partnerships, corporations, or other business entities. You must open an account in your own name as an individual. If you want to trade on behalf of a business or trust, you will need to use a different brokerage.

People with certain criminal convictions or regulatory violations may be denied an account. Robinhood performs background checks and may refuse service to individuals with histories of securities fraud, money laundering, or other financial crimes.

How Robinhood verifies your identity

When you open an account, Robinhood collects your full name, date of birth, address, phone number, email, and Social Security number. It then verifies this information against public records and databases. Most verifications complete instantly, but some accounts require manual review and may take a few hours or up to a business day.

Robinhood may ask follow-up questions if your information does not match records or if the system flags your account for review. You may need to provide additional documents, such as a photo ID or proof of address. If Robinhood cannot verify your identity, it will deny your account and explain why.

Once your account is open, Robinhood may periodically re-verify your information, especially if you update your address or other details. This is part of standard anti-money-laundering compliance.

What happens if you do not meet the requirements

If you are under 18, Robinhood will not open an account for you. Some brokerages offer custodial accounts for minors, but Robinhood does not. You will need to wait until you turn 18 to open your own account.

If you cannot verify your identity or provide a valid Social Security number, Robinhood will deny your account. You can reapply once you have the required documents, but repeated failed attempts may result in a permanent block.

If you are a non-resident or living outside the United States, you cannot open a new account. If you already have an account and move abroad, Robinhood may require you to close it or transfer your holdings to another brokerage.

Frequently Asked Questions

Can I open a Robinhood account if I am not a U.S. citizen?

You must be a U.S. resident to open an account, but citizenship is not required. Permanent residents, visa holders, and others with valid U.S. residency can open accounts as long as they have a Social Security number or ITIN (Individual Taxpayer Identification Number). Robinhood will verify your residency through the address you provide.

What is the minimum amount of money I need to start trading on Robinhood?

There is no minimum deposit to open a cash account. You can open an account with zero dollars and Robinhood will give you a small amount of buying power to start trading. However, margin accounts require a $2,000 minimum deposit, and some features may have additional minimums.

Can I open a joint account with someone else on Robinhood?

No. Robinhood only offers individual accounts in a single person's name. If you want to trade jointly with another person, you would each need separate accounts, or you would need to use a different brokerage that offers joint accounts.

How long does it take to get approved for options trading?

Robinhood reviews options requests within minutes to a few hours in most cases. Approval depends on your account history, trading experience, and the level of options strategies you are requesting. If you are denied, you can reapply after 30 days or contact Robinhood support to understand why.

What happens if I lie about my age or residency when opening an account?

Robinhood verifies the information you provide against public records. If you provide false information, your account may be closed, your funds frozen, and you may face legal consequences. Robinhood is required to report suspicious activity to federal authorities.