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As someone who has looked into but not actively used Robinhood - the main benefit of the Gold subscription is for day traders. With a free account, if I decide

As someone who has looked into but not actively used Robinhood - the main benefit of the Gold subscription is for day traders. With a free account, if I decide I want to sell AAPL and buy GOOG, I have to wait 3+ days before I get the money from selling AAPL credited to my account. With Gold, they basically let you float, so you can immediately get into a new position after getting out of the previous one, without having to wait for your previous position to settle. I believe that is far and away the primary use case for Gold.

matwood 9y ago
If you're actually day trading you will still end up under SEC pattern day trading rules which require > $25k in the account. At that point, just get a real account with real tools. http://www.finra.org/investors/day-trading-margin-requirements-know-rules http://www.finra.org/investors/day-trading-margin-requiremen...
- JakeAl 9y ago
  What you said. Why would anyone not set up a real account and use their app? I think Scottrade, which is the entry-level broker, only has a $500 minimum balance and they provide real tools as well as educational resources.
bcohen5055 9y ago
I'm a current robinhood non-gold user and they actually eliminated this restriction around 6 months ago. Now as soon as I sell a position I can buy my next with the funds from the sale.
- tekromancr 9y ago
  Which they have branded the loan they give you until deposits and sales settle "Robinhood Instant". Since you are trading without settled cash in the account, I believe the SEC considers this a margin account.
- mighty_atomic_c 9y ago
  Yes, I have this too. Robinhood Instant is a margin account, with the same conditions/restrictions as a Gold account. They loan you money in that settlement time window, basically