Does Robinhood charge for options trades?

No — $0 base commission and $0 per contract for equity and ETF options. Index options carry small contract fees discounted for Gold members. This is the lowest options pricing in retail brokerage.

Can I trade penny stocks on Robinhood?

No. Robinhood does not support OTCQX, OTCQB, Pink Sheets, or OTCBB listings. Some delisted positions can be closed but not opened. For OTC trading you need Schwab, Fidelity, IBKR, Firstrade, or TradeStation.

What is Robinhood Gold?

A $5/month or $50/year subscription that adds a 3% IRA match, 3.35% cash-sweep APY, ~5% margin rates with first $1,000 free, Nasdaq Level II, Morningstar research, Cortex AI, and larger instant deposits.

Does Robinhood offer 24-hour trading?

Yes — about 900 stocks and ETFs trade 24/5 via the Blue Ocean ATS, Sunday 8 p.m. – Friday 8 p.m. ET, limit orders only. Schwab supports a slightly larger list (~1,100) and IBKR covers 10,000+ symbols.

Does Robinhood support mutual funds or bonds?

No to both. Robinhood does not offer mutual funds or individual bonds as tradeable products. Cash sweep and Strategies portfolios provide indirect money-market exposure only.

Robinhood review

4.3 / 5

Last reviewed May 13, 2026

Visit Robinhood

Best mobile-first broker for beginners, casual options traders, IRA contributors who want a 3% match, and 24-hour stock access. Significant gaps in OTC, mutual funds, and bonds.

$0 options (no per-contract)
3% IRA match (Gold)
~900 24-hour stocks
Cortex AI assistant
20+ crypto + staking

At a glance

Founded: 2013
Minimum deposit: $0
Regulators: SEC · FINRA · SIPC
FDIC sweep: Up to $2M

Strengths and weaknesses

Strengths

$0 commission on stocks, ETFs, and options — including no per-contract options fee
3% IRA match for Gold members (1% standard) on Traditional/Roth/Rollover IRAs
Robinhood Legend desktop platform with 90+ indicators, futures ladder, Cortex AI
24/5 trading on ~900 stocks and ETFs via Blue Ocean ATS — clean UX
Cleanest mobile onboarding in retail brokerage; fractional shares from $1
Crypto coverage: ~20 coins with staking + Robinhood Wallet self-custody
Robinhood Gold 3.35% APY cash sweep with no minimum (Feb 2026)
Futures on 40+ CME products with no PDT rules; Gold discounts contract fees
IPO Access program — free participation for eligible retail customers
Kalshi prediction markets integrated for event contracts

Weaknesses

Does not support OTC Pink Sheets, OTCQB, OTCQX — deal-breaker for penny-stock traders
No mutual funds, no bonds (other than money-market exposure via Strategies)
No forex trading
PFOF on equities and options — execution quality trails IBKR Pro and Fidelity
US-only equities — no international markets in the US app
$100 outbound ACAT fee (vs. $0 at Fidelity, Schwab, IBKR)
1.5% fee on instant withdrawals
Crypto effective spread ~35–95 bps vs. dedicated exchanges
Customer service has improved but still trails Fidelity and Schwab for complex issues
Multiple historical regulatory actions: 2021 GameStop restrictions, $26M FINRA fine in 2024

Best for

Sub-ratings

Commissions & fees: 5.0
Platforms & tools: 4.0
Mobile app: 5.0
Research: 3.5
Education: 3.5
Customer service: 3.8
Range of investments: 3.5
Active trading: 4.0

Pricing & fees

Full fee schedule

Category	Item	Price	Notes
Stocks & ETFs	US stock / ETF commission	$0	—
Options	Options base + per-contract	$0 + $0	Lowest in retail; Gold discounts index options further
Futures	Futures per contract	Discounted for Gold	Via Robinhood Derivatives (RHD); 40+ CME products
Crypto	Crypto commission	$0 quoted	Effective spread ~35–95 bps
Margin	Robinhood Gold margin rate	~5% on debits ≤ $50K	First $1,000 of margin free with Gold
Cash sweep	Robinhood Gold cash sweep	3.35% APY	Feb 11, 2026; no minimum, no cap
Account & service fees	Robinhood Gold subscription	$5/month or $50/year	—
Account & service fees	Outbound ACAT	$100	—

PFOF: Accepts payment for order flow on equities; accepts PFOF on options. Robinhood is PFOF-funded across equities, options, and crypto routing.

Margin rates vs. peers

Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.

Cash sweep

Default cash sweep

3.35%(Robinhood Gold High-Yield Cash)

Gold only. Non-Gold default sweep yields near 0%.

As of Feb 11, 2026

Asset coverage

US stocks (NYSE/Nasdaq/AMEX)
Yes
OTC / Pink Sheets / OTCQX / OTCQB
Confirmed 2026 policy — biggest gap vs. Schwab/Fidelity/IBKR/Firstrade
No
Fractional shares
From $1 across 6,000+ symbols
Yes
Options (equity, ETF, index)
Multi-leg builder; index options discounted for Gold
Yes
Mutual funds
No
ETFs
Yes
Bonds
No
Forex
No
Futures
40+ CME products via RHD — no PDT rules
Yes
Crypto (direct)
~20 coins via Robinhood Crypto with staking; ~35–95 bps spread
Yes
International stocks (from US)
US-only in the US app
No
IPOs
IPO Access program — free for eligible retail
Yes
Pre-market trading
Limit orders only
Yes
After-hours trading
Yes
24-hour overnight equity trading
~900 stocks and ETFs via Blue Ocean ATS, 24/5
Yes
Prediction markets
Kalshi event contracts via Robinhood Derivatives
Yes

Platforms & tools

Platform deep-dive

Mobile
Robinhood Mobile
- Flagship product; clean retail UX
- Full options chain; futures ladder
- Fractional shares from $1; recurring investments
- +2 more — see platform deep-dive
Desktop
Robinhood Legend
- 90+ technical indicators with multi-chart layouts
- Options charts/drawings synced; Nasdaq Level II (Gold)
- Futures ladder with one-click trading
- +2 more — see platform deep-dive
Browser-based; free; no platform fees
Web
Robinhood Web
- Charts, screeners, watchlists
- Account aggregation and recurring investments
API
Robinhood API
- No public retail API as of May 2026
Limited third-party algo support

Key capabilities at a glance

Commission: $0
Fractional shares: Yes
≥ $1 stocks, market cap ≥ $25M
Extended hours: Yes
Overnight (24/5): Yes
~1,134 eligible · Robinhood "24 Hour Market" list — refreshes weekly
Options: $0
OTC access: 0/5 full, 0/5 limited
Short locate: none

OTC market access by tier

OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. Robinhood’s coverage:

OTCQXNo
OTCQBNo
Pink CurrentNo
Pink LimitedNo
Grey MarketNo

Awards & recognition

2026 Best Online Broker for Beginners — NerdWallet
2025 Best Mobile App for Trading — NerdWallet

Recent changes

Dec 2025product
Kalshi prediction markets live on Robinhood Legend desktop
Jun 2025product
Acquired Bitstamp ($200M) — institutional crypto integration
2025product
WonderFi acquisition (~$179M) — Canadian crypto expansion
2025product
Cortex AI assistant launched (Gold members)
Dec 2024product
Robinhood Legend desktop platform launched
2024regulatory
$26M FINRA fine for supervision and AML lapses

Frequently asked

Does Robinhood charge for options trades?: No — $0 base commission and $0 per contract for equity and ETF options. Index options carry small contract fees discounted for Gold members. This is the lowest options pricing in retail brokerage.
Can I trade penny stocks on Robinhood?: No. Robinhood does not support OTCQX, OTCQB, Pink Sheets, or OTCBB listings. Some delisted positions can be closed but not opened. For OTC trading you need Schwab, Fidelity, IBKR, Firstrade, or TradeStation.
What is Robinhood Gold?: A $5/month or $50/year subscription that adds a 3% IRA match, 3.35% cash-sweep APY, ~5% margin rates with first $1,000 free, Nasdaq Level II, Morningstar research, Cortex AI, and larger instant deposits.
Does Robinhood offer 24-hour trading?: Yes — about 900 stocks and ETFs trade 24/5 via the Blue Ocean ATS, Sunday 8 p.m. – Friday 8 p.m. ET, limit orders only. Schwab supports a slightly larger list (~1,100) and IBKR covers 10,000+ symbols.
Does Robinhood support mutual funds or bonds?: No to both. Robinhood does not offer mutual funds or individual bonds as tradeable products. Cash sweep and Strategies portfolios provide indirect money-market exposure only.