Citizens access, lending club, etc are all paying 4.25% without a monthly subscription fee and Robinhood still stuck at 4.15%. Are they going to pull a bait and switch soon?
So 4.15% is “trash” but 4.25% is awesome?
Yes..4.15% with gold subscription is trash. 4.27% (default Fidelity money market SPAXX) without needing any subscription is better. 4.54% (default Vanguard money market VMFXX) without needing any subscription is even better. So yeah... Robinhood is 🗑️ In comparison to the options available. It was great when these brokerages charged $$ to trade stocks, but not any more.
Exactly. Why would I pay for something that others are giving for free?
If in 2023 you're still using Robinhood, I don't have much empathy. Just move to a real brokerage like TDA or Fidelity.
Google is right. The -0.1% is an idiot tax.
Who cares? I’m under the SPIC of $500K.