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TradersBest.com / Robinhood Fees 2024

Robinhood Fees 2024

Robinhood Trade Fees & Hidden Fees?

Last Updated on 11/04/2024

It may come as a surprise that there is such a thing as Robinhood fees. Robinhood is an online broker that offers one of the best low-cost online trading platforms. So much so, that Robinhood fees do not apply when opening an account, nor the management there-of. Added to which, there’s commission-free trading across the board. However, as is the case in many industries, additional pricing and third-party fees are unavoidable. Thus, it is our aim to cover these fees as they become available. The implicit nature of these fees means that they are viewed as Robinhood trade fees and in some cases, Robinhood hidden fees. Read on to find out exactly which fees will apply to your account. For more on this exciting broker, take a look at our Robinhood review.

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Regulatory Transaction Fee

As is clear from the onset, there are always bound to be certain fees. These fees are required to be paid by customers of Robinhood and for that matter, any online broker. The first general fee is the regulatory transaction fee. Ultimately, this cost is supposed to be borne by the Financial Industry Regulatory Association (FINRA). Self-regulating organizations such as FINRA are expected to pay these fees to the state. This fee applies to all sell orders.

The Securities and Exchange Commission (SEC) is the branch of government that provides regulatory oversight. They levy a fee and expect FINRA to cover the cost. In turn, FINRA extends this obligation to online brokers. Online brokers, such as Robinhood, pass the regulatory transaction fee on to the end customer. The actual fee amounts to $22.10 per $1,000,000 of principal (sells only). For customers with sales of $500 or less in notional value, the regulatory transaction fee does not apply.

Trading Activity Fee

The regulatory transaction fee is required to be paid by law to the SEC. The trading activity fee is similar in nature but does not extend to the SEC. This fee has been implemented by the Financial Industry Regulatory Association. It is intended to cover the costs of regulation and periodic oversight. The trading activity fee will be borne by the end customer once again. All traders will find that there is a fee attached to their sales.

Equity sells include a trading activity fee of $0.000119 per share. This fee jumps to $0.002 per share for options sells. The actual fee is always rounded up to the nearest penny and does not exceed $5.95. However, it has been noted that many customers can be charged more than $5.95. This is down to the fact that the fee is based on the execution of an order, which can occur in multiple parts.

American Depositary Receipt (ADR) Fee

The American depositary receipt (ADR) fee is a fee which is levied on the purchase of foreign stock. For those traders who prefer to buy stock of foreign companies, the ADR fee will be prevalent throughout overall pricing. An ADR is a certificate that represents stock of a foreign company. These certificates are issued by banks and trade on US exchanges. Banks implement an ADR fee as part of their overall custodial fee.

Thus, the ADR fee is not necessarily part of the Robinhood trade fees. However, traders using the Robinhood platform will still be expected to pay these fees. This actual fee ranges between $0.01-$0.03 per share. Keep in mind that an ADR fee does not apply to the purchase of domestic stock. It is important to differentiate between domestic or foreign stock prior to including this fee in one’s overall Robinhood fees.

Are there hidden fees?

Robinhood hidden fees are not meant to be kept secret. The name might suggest that this broker aims at hiding certain fees from customers. However, certain additional services and transfers will incur a fee. These fees are charged to the traders’ account and deducted when necessary. What kind of Robinhood hidden fees exist?

There are two transfer types which will incur fees. For customers who require check deliveries within the US, can obtain such a service from Robinhood. Checks are delivered overnight and incur a delivery cost of $20. The second transfer fee applies to those traders who wish to transfer their assets from one online broker to another. The automated customer account transfer service will enable customers to transfer all of their existing assets at a cost of $75.

Four types of additional services will incur Robinhood fees. This includes paper confirms and paper statements. The former will cost $2 while paper statements cost $5. National and International overnight mail delivery is also offered. Domestic delivery costs $20 while international deliveries are billed at a rate of $50 per delivery.

Gold pricing

For a 30-day period, the pricing is set at $5.00. This includes $1,000 of margin. For margins over $1,000, the pricing fee is set at 5%. Keep in mind that this fee might change at any time as it has been 5% for the last 12 months. The legacy pricing of gold differs according to account size. For accounts valued at $2,000-$3,000, costs for 30 days range from $6-$10. Buying power and instant deposits of $1,000 costs $6 while instant deposits of $1,500 cost $9 for 30 days. For more on instant deposits, our Robinhood instant deposit restricted piece will outline how to maintain a credible account.

On the other end of the scale, accounts valued at $50,000 will incur a cost of $120 for buying power and instant deposits of $25,000. For deposits of total account value ($50,000), a 30-day fee of $150 is included. For a complete run-down of Robinhood options fees and the gold pricing schedule, visit the official Robinhood website.

Account opening fees

When it comes to opening an account, Robinhood applies a standard fee policy. This policy is a $0 pricing structure for all activities concerned with opening and managing an account. There are no Robinhood hidden fees. Customers can rest assured that they will not incur any fees for opening, maintaining, and running their account. There are no inactive account fees either.

Keep in mind that certain taxes apply. In order to find out more about this, take a look at our piece on Robinhood taxes explained. This will help in outlining additional costs that tend to catch some traders by surprise. For Robinhood margin trading, the Robinhood withdrawal fee is also set at $0.

Conclusion

There are always going to be fees included in the buying and selling of financial instruments. Most of these fees are implemented by third-party agencies. Robinhood has an extremely transparent pricing policy. Customers will not be expected to pay additional fees for day-to-day account activity. With commission-free trading on offer, there’s not much stopping you! Our Robinhood app review might seal the deal and have you signing up in no time.

Robinhood Fees – FAQ

✋ Are there Robinhood hidden fees?

Online brokers tend to be as transparent as possible when it comes to their fee structures. However, there are always certain fees that are overlooked by customers. It might be that the online broker does not provide clarification on the matter or that reading the entire fee schedule is too time-consuming. At TradersBest.com, we aim to bring you up to speed with all the relevant hidden fees that might affect you!

✅ How do I pay Robinhood fees?

Finding out how to pay fees is important in clearing your debt and maintaining a balanced budget. Many online brokers will deduct fees automatically from your balance. These fees will be deducted immediately or at the end of each month. It’s important to know exactly what the process is, so as not to incur a high number of expenses in the way of fees. Our reviews will help you understand this process better. 

❓ Is it possible to avoid Robinhood fees altogether?

Robinhood is very cost-friendly to customers There aren’t many fees that are implemented to individual accounts. However, can one avoid fees altogether? Our overview of Robinhood trade fees will outline exactly which you can do without, and might even shed light on whether it’s possible to avoid them outright. You’ll also find out about the Robinhood ETF fees, which will help in reducing costs.

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Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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