Robinhood Gold was recently updated with new premium features and a simpler pricing structure. Instead of choosing your Gold tier when signing up, all users will now pay $5 a month for the premium features and 5% annual interest based on how much margin they use.
What are the new premium features?
There are two new premium features on Robinhood Gold:
- Professional Research: Make more informed decisions with in-depth research reports from Morningstar. These reports are available on 1700 stocks and are updated frequently on important company events.
- Level II Market Data: Monitor real time bids and asks directly from Nasdaq. Level II Market Data will be available to Gold users later this year.
Like before, Gold members still have access to margin investing and bigger instant deposits.
How does the new price work?
For $5 a month, you get access to the premium features and your first $1,000 of margin is included. You will be charged $5 every 30 days at the beginning of your billing cycle.
If you use more than $1,000 of margin, you’ll pay 5% yearly interest on the amount you use above $1,000. Your interest is calculated daily and charged to your account at the end of each billing cycle.
How will my buying power change on the new Gold?
Instead of your margin being limited to your Gold tier, you will have access to your full margin and only pay interest on what you borrow.
You can set a borrowing limit to help you control how much margin you use. When you switch to the new Gold, your borrowing limit will default to your old Gold tier. You can modify it any time in Settings.
If you don’t want to use margin or borrow money, you can also turn off margin from Settings.
Do I have to switch to the new Gold?
You have to switch to the new Gold in order to activate the new features. If you decide that you don’t want to use Gold anymore, you can also downgrade from Gold from Settings.