Robinhood Margin Interest Rates
|
Debit Balance
|
Margin Rate
|
|
above $50,000
|
5.00%
|
|
below $50,000
|
$10/month for every $2,000 borrowed
|
Lowest Margin Rates
| Broker |
$0 - $4,999 |
$5,000 - $9,999 |
$10,000 - $24,999 |
$25,000 - $49,999 |
$50,000 - $99,999 |
$100,000 - $249,999 |
$250,000 - $499,999 |
$500,000 - $999,999 |
above $1,000,000 |
|
M1 Finance
|
3.50%
|
3.50%
|
3.50%
|
3.50%
|
3.50%
|
3.50%
|
3.50%
|
3.50%
|
3.50%
|
|
ZacksTrade
|
3.55%
|
3.55%
|
3.55%
|
3.55%
|
3.55%
|
3.05%
|
3.05%
|
3.05%
|
2.75%
|
|
Webull
|
6.99%
|
6.99%
|
6.99%
|
6.49%
|
6.49%
|
5.99%
|
5.99%
|
5.49%
|
4.49%
|
Compare Robinhood versus Competitors
Robinhood vs TD Ameritrade »
Robinhood vs Ally Invest »
Robinhood vs M1 Finance »
Read full Robinhood Investing Review »
Overall, the app is well designed and easy to use and learn. Anyone with knowledge of how to use a smart phone should have no trouble getting started.
This is what users who have already set up their account see when they open the app. They may login in using their Touch ID or the old-school username and password.
The above screenshot is the “home page” of the app. At the top investors see their account’s total value, uninvested cash included. Below that value is the percentage that the account has moved for the time period selected on the graph. It defaults to the 1 day range, however, if the user selects an alternate range on the graph, the percentage will display for that selected time frame. The rectangle below the graph displays news articles from various sources that relate to the trader or the trader’s holdings.
Scrolling down from the app home, users will see the list of the stocks that they own. Stocks are identified by their respective ticker symbols. The app shows how many shares you own directly under the ticker symbol. The box to the left of each symbol represents the current price of one share. If the box is green, that means the trading price is up for the day. If the box is red, then the price is down for the day.
As the user continues scrolling down, they move past their holdings and see their “Watchlist.” These are usually stocks that the investor is interested in. Users can use the search tool on the upper left to add certain stocks to their watchlist.
Robinhood Website
One of the biggest drawbacks to the Robinhood brokerage account is the lack of desktop website to trade. The company’s website only features information, FAQ’s and fee schedules. There’s no way to sign in to your account through the company’s website. Trading, viewing account balances, and transferring money to and from a bank account is only available through the mobile trading app.
Robinhood Customer Support
The commission free trading offered by Robinhood comes at the expense of no brick and mortar stores, and no listed phone
number for customer support. Robinhood only offers an email address for customer support.
Is Robinhood Safe?
The calling card of all Robinhood accounts is the absolutely zero commission on each trade which really sounds too good to be true.
Worried that someone with easy access to your phone could drain your account of all your hard earned cash?
Well Robinhood allows users to secure the app and requires either a typed password or a fingerprint scan in order to open the app. While this can
be cumbersome at first (as it requires users to log in again, even if the app was not completely closed), the safety added by this simple feature
is completely worth the extra few seconds it takes to log in.
Robinhood does require new users to authenticate their identities, so adding money to your account will take about a week, but once the initial
transfer has been added, subsequent transfers occur in two to three business days.
Robinhood Margin Interest Rates Disclaimer
Robinhood margin account fees are current as of 2020 and can change at any time. For up-to-date
informatio on Robinhood margin interest rates visit their website.
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