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My Robinhood margin rate for $6,000 is only 5%/year. It also provides extended pre-market trading, after-market trading, and instant deposits. Interactive brok
by webninja 10y ago
My Robinhood margin rate for $6,000 is only 5%/year. It also provides extended pre-market trading, after-market trading, and instant deposits. Interactive brokers charges commissions on trades. Also you don't have to use margin with Robinhood, it's not required.
- beezle 10y agoThat 5% rate only applies if you fully utilize the margin for the entire year. If you do not, and do not drop out of the gold tier when not using the margin, your effective rate sky rockets. As to IB, again my point was there is a trade off between paying nothing for commissions and overpaying for margin vs paying a low commission and getting a market margin rate that only kicks in when in use.