Wednesday, November 23, 2016

Robinhood Gold

I've been using Robinhood Gold recently. On the Robinhood App, if you have at least $2,000 in your account, you can choose to upgrade to Robinhood Gold. Robinhood Gold is Robinhood's version of trading with margin, or trading with money Robinhood loans to you.

So, for $10/month, Robinhood will loan me $2,000 to trade with. So now I have $2,000 of my own money, and $2,000 of Robinhood's money. If I receive a dividend, or gains from trading with using Robinhood's money, I get to keep that money, but in the long run, I don't get to keep the $2,000 from Robinhood.

I've realized I don't know enough about how trading with margin works. I guess you can't use all $2,000 from Robinhood. I need to do more research, and I'm considering downgrading my account until I research some more.

I hope everyone has a safe holiday weekend!

Signed,

Mitch

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