Anyone took Robinhood gold over 50k for stock?
Jun 2, 2018
15 Comments
Wandering if anyone took a Robinhood Gold over 50k.
There is $200 fee per month plus 5% APR which I could not understand.
Is it fixed $200 or it varies?
Can anyone explain who took Robinhood gold over 50k?
comments
What is your source?
But if I did I would use IB. Their fees are much lower than RH (less than half for margin), you can control order execution (RH makes money on execution at your expense), you can decide which lot to sell (RH is only FIFO), you get access to most world markets, you can trade in multiple currencies, etc.
In fact many professional mutual fund portfolio managers themselves use IB to manage their funds. Not the big ones (they mostly use Bloomberg) but small to midsize funds. It really has pretty much everything.
But most people shouldn't do any of that. Most people are better served by buying and holding broad market index funds and for that purpose it really doesn't matter what platform you use. The only limitation I'd call out for RH for ordinary savers is that married people shouldn't use it since you can't name a beneficiary.
Any idea about how it gets charged?
And its not a fixed amount if you borrow over 50k
Any idea about APR ?
Its written something as 5% apr and $200 Robinhood fees
So is it 200 + 5% APR
I borrowed about 80k from them