Yes, Robinhood offers Roth IRA accounts through its brokerage platform

Robinhood is a brokerage firm that lets you open and manage a Roth IRA directly through their app or website. You can fund the account, choose investments, and track your balance without paying Robinhood a fee to hold the account. The investments you can buy inside a Robinhood Roth IRA are stocks, exchange-traded funds (ETFs), and options contracts — not bonds, mutual funds, or crypto.

Robinhood does not charge monthly or annual account fees, and you do not pay per-trade commissions. This makes it a low-cost option if you plan to trade frequently or start with a small balance. However, Robinhood's investment menu is narrower than some competitors: you cannot buy individual bonds, most mutual funds, or fractional shares of every stock.

Key Takeaways

  • Robinhood Roth IRAs have no account fees, no monthly charges, and no per-trade commissions.
  • You can invest in stocks and ETFs, but not in bonds, most mutual funds, or cryptocurrency inside the Roth IRA.
  • Robinhood will match your contributions only if your employer offers a match through Robinhood Retirement — a separate workplace plan, not a personal Roth IRA.
  • You must follow standard Roth IRA rules: contribution limits, income limits, and withdrawal restrictions apply regardless of which brokerage holds your account.
  • If you want access to bonds, mutual funds, or a wider range of investments, other brokerages like Fidelity or Vanguard may be better fits.

How to open a Roth IRA with Robinhood

Start by downloading the Robinhood app or visiting robinhood.com. Select "Open an account" and choose "Roth IRA" from the account type menu. You will enter your name, date of birth, Social Security number, and address. Robinhood will verify your identity and check your income to confirm you meet the Roth IRA income limits for that year.

Once your account is approved, you can link a bank account and transfer money in. Robinhood does not charge to receive your deposit. After the money settles (usually one to three business days), you can begin buying stocks or ETFs. You do not have to invest immediately — you can hold cash in the account and buy when you are ready.

What you can and cannot invest in at Robinhood

Robinhood's Roth IRA supports stocks (individual company shares), ETFs (funds that track indexes or themes), and options contracts (advanced trading). You can buy fractional shares of most stocks, meaning you can invest $50 and own a piece of a $500 stock. This flexibility is useful if you have a small balance or want to diversify across many companies.

Robinhood does not offer bonds, Treasury securities, most mutual funds, or cryptocurrency inside a Roth IRA. If you want to hold bonds or a specific mutual fund, you will need to open your Roth IRA at a different brokerage. Some people open Roth IRAs at multiple brokerages to access different investment types — for example, a Robinhood account for stocks and an Fidelity account for bonds.

Robinhood Roth IRA fees and costs

Robinhood charges no account maintenance fee, no annual fee, and no commission per trade. You will not see a bill from Robinhood for holding a Roth IRA there. The only costs you may encounter are bid-ask spreads (the difference between the price you pay to buy and the price you receive when you sell) and any fees charged by the exchanges where stocks trade — but these are the same at every brokerage.

If you transfer your Roth IRA from another brokerage to Robinhood, some brokerages charge an outgoing transfer fee (typically $25 to $75). Robinhood does not charge an incoming transfer fee. Ask your old brokerage about their transfer fee before you move your account.

Roth IRA contribution limits and income limits still apply

Opening a Roth IRA at Robinhood does not change the rules set by the IRS. You can contribute only up to the annual limit ($7,000 in 2024 for most people under 50; $8,000 if you are 50 or older). You can contribute only if your income falls below the IRS income limit for that year — these limits vary by filing status and change each year.

Robinhood will ask about your income when you open the account and may ask again at tax time. If your income exceeds the limit, you cannot contribute to a Roth IRA at Robinhood or anywhere else that year. The contribution limit applies across all Roth IRAs you own — if you have a Roth IRA at Fidelity and another at Robinhood, your total contributions to both cannot exceed the annual limit.

Withdrawal rules and early withdrawal penalties

A Roth IRA at Robinhood follows the same withdrawal rules as a Roth IRA anywhere else. You can withdraw your contributions (the money you put in) at any time without penalty or tax. You cannot withdraw earnings (the money your investments made) before age 59½ without owing a 10% penalty and income tax, with narrow exceptions for disability, medical expenses, or first-time home purchase.

Robinhood will not stop you from withdrawing money early — the app makes it easy to transfer cash out. But the IRS will tax and penalize you if you withdraw earnings before you meet the age and holding-period rules. Keep records of how much you contributed versus how much your investments earned, because you will need this information when you file taxes.

Robinhood versus other Roth IRA providers

Robinhood is one option among many. Fidelity, Vanguard, Charles Schwab, and E-Trade also offer Roth IRAs with no account fees. The main differences are the investments available and the user experience. Fidelity and Vanguard offer bonds, mutual funds, and a much wider range of stocks and ETFs. Robinhood's strength is its simple mobile app and low barriers to entry for small investors. E-Trade and Schwab fall somewhere in the middle.

If you plan to invest only in stocks and ETFs, Robinhood works well. If you want bonds, mutual funds, or prefer a desktop experience, Fidelity or Vanguard may suit you better. Some investors open accounts at multiple brokerages — for example, using Robinhood for stock picking and Fidelity for bonds and index funds in the same Roth IRA structure across accounts.

Frequently Asked Questions

Does Robinhood offer employer matching for Roth IRAs?

No. Employer matching is not available in a personal Roth IRA at Robinhood or any brokerage. Robinhood does offer a workplace retirement plan called Robinhood Retirement, which can include matching, but that is a separate product for employers to set up. If your employer offers a 401(k) or similar plan with matching, you use that plan, not a personal Roth IRA.

Can I transfer a Roth IRA from another brokerage to Robinhood?

Yes. Contact your current brokerage and request a direct transfer to Robinhood. Robinhood will provide you with the account details to give them. Direct transfers are usually free at Robinhood and take one to two weeks. Avoid withdrawing the money yourself and redepositing it, because that counts as a new contribution and may trigger tax penalties.

What happens to my Roth IRA if Robinhood goes out of business?

Your Roth IRA is protected by SIPC (Securities Investor Protection Corporation) up to $500,000 per account type. This means if Robinhood fails, your account and investments are transferred to another brokerage at no cost to you. Your money and investments remain yours — they do not disappear.

Can I buy crypto in a Robinhood Roth IRA?

No. Robinhood does not allow cryptocurrency purchases inside a Roth IRA, even though the company offers crypto trading in regular brokerage accounts. If you want to hold crypto in a retirement account, you would need to use a specialized provider that offers self-directed IRAs or crypto IRAs.

Does Robinhood charge to withdraw money from my Roth IRA?

No. Robinhood charges no fee to transfer money out of your Roth IRA to your bank account. The transfer usually takes one to three business days. However, if you withdraw earnings before age 59½, the IRS will charge you a 10% penalty and income tax — that is separate from any Robinhood fee.