No, the short answer is that Robinhood does not charge a monthly fee. When you start a Robinhood account, you’re free to begin with a zero balance, or to transfer in as much or as little cash as you’d like. Even if you don’t have any money in the account, Robinhood won’t charge you fees to keep it open, or for much of anything else.
Robin Hood’s official fee document lays everything out. There’s no maintenance fees or low balance fees to worry about. There’s also no inactivity fees, so even if you leave money in your Robinhood account for years without doing anything or even logging in, they won’t charge a fee for your inactivity.
What Does Robinhood Charge Fees For?
That said, Robinhood does have a few fees. If you need paper copies of your statements for example, they’ll charge for that. They’ll charge for certain mailings they send to you, too.
If you upgrade to Robinhood’s Gold level, there is a monthly fee for that service, which provides additional research, analysis, access to margin and the like. Of course, the Gold level is optional.
Robinhood also charges certain regulatory trading fees. These aren’t technically the app’s fees, since the fees are charged by regulators, but Robinhood does pass them on to customers. These fees are tiny though: about $5 per $1 million in securities sold. Unless you’re trading millions of dollars worth of stocks on Robinhood, you probably won’t notice them.
The Bottom Line
Robinhood doesn’t charge a monthly fee unless you upgrade to the app’s Gold level, which is totally optional. It doesn’t charge many fees at all, and unless you trade millions of dollars on the app, you’re unlikely to even notice them.
In effect, there is no monthly fee for using Robinhood.
This article is for informational purposes only and should not be construed as investment, tax or legal advice. Always consult a professional advisor for advice specific to your situation before making any major financial decisions, and never invest more than you can afford to lose.