| Updated: September 17, 2025
Robinhood is an established stockbroker whose story began nearly a decade ago at California’s Stanford University. The brokerage was founded by two classmates, Vlad and Baiju, who went on to build two financial companies. They also developed and sold trading software.
Thanks to their newly acquired knowledge of trading and finance, Vlad and Baiju soon realised that stock brokerages paid next to nothing in fees to trade stocks. Meanwhile, the average customer was expected to pay significant charges to open stock positions.
This gave rise to the idea of launching a trading site that pioneers zero-commission trading. Come to think of it, the name of the trading site Vlad and Baiju created, Robinhood, is rather suitable in this context.
Today, Robinhood is one of the most respected brokerages, boasting a comprehensive range of commission-free trading options, including stocks, options, cryptocurrencies and commodities such as gold. The US-regulated brokerage is mobile-compatible, giving traders a choice of a browser-based mobile version and two dedicated apps available for free download from Google Play and the App Store.
| General Information about Robinhood | |
|---|---|
| Min. Deposit | $1 |
| Supported Languages | N/A |
| Supported Currencies | United States Dollar |
Robinhood mobile app account types
Mobile traders can register accounts at Robinhood as long as their devices are compatible with the brokerage’s apps. Apple users can access the trading platform via a free downloadable application that runs smoothly on iPhones and iPads that use iOS 11.0 and above. Being a modern brokerage, Robinhood also supports access via Apple Watch devices that operate on watchOS 4 or higher.
The trading platform is also readily available to Android users. They can install the dedicated Robinhood application on their smartphones and tablets, but the app’s compatibility and size vary depending on which Android device is used. Robinhood offers three main account types to suit the needs of different investors. We discuss them in further detail in the paragraphs below.
| Market | Leverage |
|---|---|
| Stocks | 2 |
Robinhood Instant accounts
New traders who register via the Robinhood mobile app automatically start trading with the so-called Instant account. This account type allows them to enjoy instant deposits as well as extended trading hours.
There are plenty of advantages to Instant accounts at Robinhood, starting with a surprise free-stock bonus upon registration. The free stock can be in Microsoft, Johnson & Johnson, Ford Motor, GE, Kinder Morgan or Visa and is awarded on a random basis for friend referrals.
Another advantage is that there is no need to top up your balance immediately to receive the free stock. The maximum you can receive in free stock is $500 per calendar year, which must be claimed within sixty days. It is also important to note that traders cannot sell the free stock until two full days have elapsed after redemption.
Only customers from the United States can claim the free stock because Robinhood is a US-facing trading app. As for the cash value of the free stock, customers can request to withdraw it no sooner than thirty days after they have claimed it.
Instant accounts are aptly named, as deposits are immediately and automatically credited to clients’ accounts. Holders of such accounts can transfer up to $1,000 to their live trading balance at a time.
Robinhood Gold accounts
Mobile customers of Robinhood can also set up a Gold account, essentially an upgraded version of the initial Instant account, offering more purchasing power, longer trading hours and higher limits on instant deposits.
Those interested can upgrade from Instant to Gold accounts via the dedicated mobile apps of Robinhood or directly via the broker’s website. Worth mentioning is that the mobile brokerage allows traders to test the Gold account free of charge for thirty days. Once the free trial expires, Gold account users are charged $5 per month. Note that this fee does not cover margin interest.
If you are looking to upgrade from an Instant account to a Gold account, you can conveniently do so by tapping the account icon positioned at the bottom right corner of your touchscreen. Then you need to tap the icon with the three bars, open the settings menu and select the Gold account option.
The upgrade is well worth it, especially if you consider yourself a serious investor. It unlocks a variety of useful premium features. If you prefer not to trade on margin, you can disable this feature and still use your Robinhood Gold account. Those who intend to use margin must maintain at least $2,000 in their balance, as required by federal regulations.
Robinhood Cash accounts
The third option for mobile registrants at Robinhood is the Cash account. Its main attraction is commission-free trading during both standard and extended hours. The downside is that it does not provide instant settlements or funding.
You can downgrade from an Instant or Gold account to a Cash account by logging in on mobile and navigating to the main settings of the app. You must also get in touch with the brokerage’s customer support staff to request the change. Further information on downgrading to a Cash account is available in the broker’s troubleshooting guide.
Robinhood Mobile App Trading Instruments
As befits a mobile broker with one such name, Robinhood is fair and generous to retail traders, allowing for cost-effective, no-commission trading with a decent enough range of financial instruments. Some of the options you can trade with while on the go include stocks, options, and cryptocurrencies. These are available via the brokerage’s innovative proprietary trading platform.Stocks
Smartphone users who join Robinhood are granted hassle-free access to the stock market. Users can invest in individual company stocks without paying commissions, and trading exchange-traded fund (ETF) bundles is also possible.
Traders can decide how much they want to invest, and Robinhood will convert that amount from USD into fractions of a share. Customers can choose from thousands of stocks and invest as little as $1 in the companies that interest them.
Here, you can select stocks from some of the largest companies in the U.S. These include Sony, Microsoft, Amazon, Uber, Nike, Facebook, DraftKings, Visa, and PayPal, among many others.
What sets Robinhood apart is that it is one of the few brokerages that allows clients to purchase fractional shares instead of whole ones. This is ideal for small-scale retail investors, as it lets them trade hundreds of stocks for as little as $1.
By contrast, most stockbrokers require a minimum investment of about $500 per share, so you need at least this amount to open a position. By trading fractional shares on Robinhood, investors can also diversify their portfolios.
Cryptocurrencies
In addition to stocks, Robinhood gives its customers the chance to trade a wide variety of cryptocurrencies – more than 17, in fact. Some of the available options include Litecoin, Bitcoin, Ethereum, Monero, Dogecoin, Ripple, Stellar, Dash, and Qtum.
Before you dive into cryptocurrency trading on Robinhood, we would like to warn you that investing in these decentralized currencies can be highly volatile. As such, it can lead to significant losses if you are inexperienced or careless. Cryptocurrency prices are driven entirely by supply and demand, which is why investing in them carries a high level of risk and is subject to significant price swings.
Options
Robinhood allows you to trade options without commissions or contract fees. This feature enables experienced investors to buy or sell the right to purchase stocks at a predetermined price within a specific timeframe. Options trading offers greater flexibility, as you are not obligated to buy or sell the stock on the specified date and at the specified price. Option prices are updated every few seconds, providing traders with the most accurate, real-time information.
| Trading Information | |
|---|---|
| Trading Platforms | |
| Demo Account |  |
| Hedging | |
| Scalping | |
| Retirement Account | |
| US Traders |  |
| Arabic Traders | |
Robinhood mobile app fees and spreads
As previously mentioned, Robinhood attracts traders with its lack of commissions on open positions. Here you can set up an account without any additional cost. There are no charges for account maintenance, nor are there monetary penalties for inactivity.
Bear in mind that you may incur extra charges if you make a transaction in USD from a foreign debit card. The card issuer may impose a fee for currency conversion in this case. Also note that if you open a Robinhood Gold account and enable margin, you will have to pay interest on any margin-funded transactions.
Maintaining a Robinhood Gold account will cost customers $5 each month. However, this is a modest fee for a premium product. The Gold account gives you access to a variety of useful features that can greatly improve your experience and success as a trader.
It provides detailed financial reports issued by the Chicago-based financial services company Morningstar. These reports contain in-depth information on more than 1,700 stocks. In addition, you can make larger real-time deposits to your Robinhood balance and enjoy real-time Level II pricing directly from Nasdaq.
Note that if your margin usage exceeds $1,000, the monthly cost of your Robinhood Gold account rises to 5%. You also have the opportunity to invest in exchange-traded funds (ETFs) and options with no per-contract costs whatsoever.
Robinhood mobile app banking
Another great thing about trading on the go via the Robinhood app is the absence of account minimums. The brokerage’s app makes account funding straightforward. Registered traders can also enjoy peace of mind, as this well-regulated brokerage protects both their payments and personal data.
| Brand | Minimum | Fees | Processing Time |
 | No Minimum | No Fees | Instant |
| Brand | Minimum | Fees | Processing Time |
| No minimum | $25 | 3 business days |
Deposits
This brokerage is accommodating to traders wishing to deposit funds, as all transfers to customers’ balances are immediate. Furthermore, you can instantly verify your deposits with major banks. You can transfer up to $1,000 into your account right away, with the remainder being transferred a couple of days later.
The brokerage states in its help section that larger deposits might take up to five working days to complete. However, the precise timeframe depends on each customer’s individual payment history. There is a ceiling on deposits of $50,000 per working day.
Another benefit is that clients can connect their bank accounts directly to their Robinhood trading accounts to deposit and cash out quickly. The brokerage advises customers to connect a current (checking) account rather than a savings account. This could spare you the hassles associated with reversals of your transfers.
Once you have successfully registered, the brokerage prompts you to fund your balance. You simply need to select your bank from the list of available options. If you do not see it, you can use the search function.
Some of the listed banks Robinhood works with include the Bank of America, Navy Federal, USAA, US Bank, Fidelity, Huntington, Ally Bank, SunTrust, BB&T and Citizens Bank. Once you tap on your bank’s logo, the platform will prompt you to enter your user ID and password.
The brokerage does not work with mailed cheques. One feature that attracted our attention is the option to set up automatic deposits via the Robinhood mobile app. Just sign into your account, tap on the Transfers section and then on Automatic Deposits. You can choose to initiate weekly, monthly and quarterly automatic deposits.
Withdrawals
Bank transfers are an option for traders looking to cash out from their Robinhood accounts. Certain rules apply to withdrawals, starting with the fact that each trader can request no more than $50,000 per working day. Bear in mind that you must have no pending deposits (larger sums may take several business days to clear) before you can request a withdrawal.
Customers who upgrade to Robinhood Gold premium accounts and activate margin must maintain at least $2,000 in their balance at all times. If you wish to withdraw less than $2,000, you will need to deactivate margin in the settings menu.
Also note that you will have to undergo additional verification if you decide to withdraw funds to a bank account different from the one originally used for deposits. You can seek assistance from the Robinhood support team for this purpose.
You will need to provide the support staff with additional information, including the reason why you cannot or do not wish to withdraw to your previously linked account. You will also have to provide a copy of the front and back of an identification document, along with a bank statement proving you are the rightful owner of the linked bank accounts.
Regulation
As mentioned at the beginning, Robinhood is a US-facing mobile trading platform and is licensed to sell securities only to traders based in this jurisdiction. The mobile apps are available to US citizens aged 18 or over.
Speaking of regulations, Robinhood has received authorisation to operate in the US from the Financial Industry Regulatory Authority (FINRA). The company is also a member of the Securities Investor Protection Corporation (SIPC). This protects the securities of Robinhood clients up to $500,000.
The mobile trading app can legally service traders from all fifty states and people from the US Virgin Islands. Prospective registrants are required to be permanent residents of the country and have a legal address there.
Robinhood Mobile App FAQ
1. How does Robinhood protect me?
2. Can US registrants access their Robinhood accounts from abroad?
3. Are there any promotional perks for Robinhood clients?
4. Where do I find the native apps of Robinhood?
5. Are there Islamic accounts at Robinhood?
Conclusion
Mobile retail traders whose priority is to execute stock orders at low costs should consider giving Robinhood a test drive. The brokerage is suited mostly to the needs of trading novices who are seeking a simplified and user-friendly trading experience on the go. Seasoned stock investors should consider choosing a more sophisticated mobile platform with a greater range of advanced trading tools and more resources.