A detailed guide to all relevant fees for stock trading at Robinhood
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It's great that you are interested in stock trading at Robinhood. When looking for a stockbroker, one of the most important aspects are fees. However, sometimes it can be a daunting task to pay attention to all the relevant fees and it can be frustrating to pay for some fees you didn't even know existed. Don't worry, we are here to help you with that.
We at BrokerChooser test brokers' services with a live account and real money, so our knowledge is based on our first-hand experience.
In this article, we are going to walk you through all the fees that are relevant for stock trading at Robinhood.
THE ESSENCE:
- Fees are extremely important when choosing a broker for stock trading
- Robinhood's stock and ETF trading fees are low
- Pay attention to less obvious fees like conversion fees
- Visit Robinhood's site if you need more information about fees
- Robinhood is a reliable broker regulated by at least one top-tier regulator
First, let's see if Robinhood is available in your country
Robinhood stock trading relevant fees
What are stock/ETF trading fees at Robinhood?
Stock and ETF trading fees are charged for buying and selling stocks and ETFs through a brokerage platform. At Robinhood, stock and ETF trading fees are low.
The following table shows the trading fees of a few popular stocks at Robinhood. In these examples, a trade would mean buying a $2,000 position, holding it for one week, then selling it.
| Asset | Fee |
|---|---|
| Apple benchmark fee | $0.3 |
| Vodafone benchmark fee | - |
Robinhood stock trading relevant fees
What is the deposit fee at Robinhood?
At Robinhood, there is no deposit fee. This means that no money will be deducted from your deposits. Be aware, though, that your deposits may be subject to conversion fees. We will cover this later in the article.
Robinhood stock trading relevant fees
What is the withdrawal fee at Robinhood?
At Robinhood, there is no withdrawal fee. This means that no money will be deducted from your withdrawals. However, just like in the case of deposits, you should pay attention to conversion fees.
Robinhood stock trading relevant fees
What are conversion fees at Robinhood?
Conversion fees apply when you deposit money to your account in a currency other than your account base currency, or when you buy an asset denominated in a currency other than your account base currency. You can find out more about conversion fees on Robinhood's website.
Robinhood stock trading relevant fees
Is there a custody fee at Robinhood?
Custody fees at brokerages are charged for holding positions in certain types of assets, usually stocks, ETFs or bonds.
At Robinhood, there is no custody fee. This means that you will not be charged for simply holding positions.
Robinhood stock trading relevant fees
Does Robinhood have an account fee?
The account fee is usually a flat fee, charged in order to cover the costs of maintaining and administering an account. It is typically charged on a regular basis, usually monthly or quarterly.
Robinhood charges no account fee. This means that you won't have to pay to the broker for simply maintaining your account.
Robinhood stock trading relevant fees
Does Robinhood have an inactivity fee?
The inactivity fee is a flat fee that is charged if the account hasn't seen any trading or other activity for a certain period of time. It is typically charged on a regular basis, usually monthly or quarterly.
Robinhood charges no inactivity fee. This means that you won't be charged even if you haven't used your account for a while.
Robinhood stock trading relevant fees
Wrap-up
Making sense of brokerage fees can be frustrating, so we hope that you found this guide useful. Keeping all of these fee types in mind should help you pick the right broker and make trading decisions more confidently.
We believe you are on the right track now, but if you still have any questions or suggestions, drop us an email at cus[email protected] and we will get back to you soon.
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