Robinhood Gold costs $5 per month

Robinhood Gold is a paid membership tier that costs $5 monthly. You can cancel at any time, and the subscription renews automatically each month unless you turn it off in your account settings.

The membership gives you access to features that the free Robinhood account does not include. The main benefit is margin — the ability to borrow money from Robinhood to buy stocks, options, or cryptocurrencies. You also get other tools like extended trading hours and premium research content.

Whether the $5 monthly cost makes sense depends on whether you actually use margin or the other paid features. If you only buy and hold stocks during regular market hours, you probably do not need Gold.

Key Takeaways

  • Robinhood Gold costs $5 per month and renews automatically unless you cancel it in your account settings.
  • The main feature is margin — borrowing money to trade — which comes with interest charges on top of the $5 membership fee.
  • You also get access to extended trading hours (4 a.m. to 8 p.m. ET) and premium market research through Morningstar.
  • The membership is optional; you can trade stocks and options on the free Robinhood account during regular market hours.

What margin means and what it costs

Margin is the core feature of Gold. It lets you borrow money from Robinhood to buy more securities than you could with your own cash. For example, if you have $1,000 in your account, margin might let you buy $2,000 worth of stock.

Borrowing money is not free. On top of the $5 monthly Gold fee, you pay margin interest on whatever you borrow. The interest rate varies depending on how much you borrow and market conditions. Robinhood publishes its current rates on its website, but rates typically range from around 2.5% to 12.5% annually, depending on your account balance and the amount borrowed.

Margin also comes with risk. If the stocks you bought with borrowed money fall in price, you can face a margin call — Robinhood demands you deposit more cash or sell positions to cover the loss. Margin accounts can lose money faster than regular accounts.

Extended trading hours and other Gold features

Gold members can trade during extended hours: 4 a.m. to 8 p.m. Eastern Time, instead of the regular 9:30 a.m. to 4 p.m. window. This means you can place trades before the market officially opens or after it closes.

Extended-hours trading is less liquid than regular hours — there are fewer buyers and sellers, so prices can move more sharply and your order might not fill at the price you expected. It is useful if you want to react to news that breaks before or after the market closes, but it carries more risk.

Gold also includes premium research from Morningstar, a financial research firm. This gives you access to detailed stock analysis, ratings, and reports that free Robinhood users do not see. You also get a higher cash management rate on uninvested cash sitting in your account.

When the $5 monthly fee is worth it

The $5 fee adds up to $60 per year. You should think about whether you will actually use the features enough to justify that cost.

Gold makes sense if you plan to use margin regularly — borrowing to trade is the main reason people pay for it. If you trade options or stocks frequently and want to use borrowed money, the margin access alone may be worth $5 a month.

Gold also makes sense if you trade during extended hours regularly. If you only trade during regular market hours and never use margin, the free Robinhood account has everything you need.

How to sign up for or cancel Gold

To start a Gold membership, open the Robinhood app or website and go to your Account settings. Look for the Membership or Gold section and select the option to upgrade. You will be charged $5 when ready, and the subscription will renew each month.

To cancel Gold, go back to Account settings and find the Membership section. Select the option to downgrade or cancel. Your membership will end at the end of your current billing cycle, and you will not be charged again. You can still hold stocks and trade during regular hours after cancellation — Gold only removes margin access and extended-hours trading.

If you cancel and then want to rejoin later, you can sign up again at any time. There is no penalty for cancelling and restarting.

Margin interest rates and how they work

Margin interest is separate from the $5 Gold membership fee. The interest rate you pay depends on your account balance and how much you borrow. Robinhood publishes a tiered rate schedule on its website — larger account balances typically get lower interest rates.

Interest accrues daily and is charged to your account monthly. If you borrow $1,000 at a 5% annual rate, you would pay roughly $4.17 per month in interest (in addition to the $5 Gold fee). The longer you hold a margin position, the more interest you pay.

You can pay back borrowed money at any time by depositing cash or selling securities. Once you repay the borrowed amount, interest stops accruing on that portion.

Frequently Asked Questions

Can I use margin without paying for Gold?

No. Margin is only available to Gold members. You must have an active Gold subscription to borrow money from Robinhood. The free Robinhood account does not include margin access.

Do I have to use margin if I pay for Gold?

No. You can pay for Gold and never use margin. You would still get access to extended-hours trading and premium research, but you are not required to borrow money. Many people pay for Gold just for the extended-hours feature.

What happens to my positions if I cancel Gold?

Your stocks and options stay in your account. If you have borrowed money through margin, you can keep the positions open, but you will no longer be able to borrow new money. You will still owe interest on any existing margin balance until you pay it back.

Is there a minimum account balance to get Gold?

Robinhood does not require a minimum balance to sign up for Gold. However, the amount of margin you can borrow depends on your account balance. Larger balances unlock higher borrowing limits and lower interest rates.

Can I get a refund if I change my mind about Gold?

Robinhood does not refund monthly Gold fees once charged. If you cancel within a few days of signing up, contact Robinhood support to ask about a refund, but there is no may provide. It is best to cancel before your next billing date if you decide you do not want to continue.