The minimum account balance required to open various types of accounts with Robinhood is $0. This means that investors can begin their investing journey without needing a specific initial deposit.
Zero Minimum for Various Account Types
Robinhood has structured its platform to be accessible to a wide range of investors by eliminating minimum balance requirements. This $0 minimum applies across several key account offerings:
- Brokerage Accounts: For general stock, ETF, and options trading.
- Robinhood Gold Accounts: While Robinhood Gold has a monthly subscription fee, it maintains a $0 minimum account balance requirement to get started with the service itself. This premium service offers features like instant deposits, professional research, and a higher interest rate on uninvested cash.
- IRAs (Individual Retirement Accounts): For those looking to save for retirement through traditional or Roth IRAs, there is no minimum balance needed to open these accounts.
This approach makes investing more accessible, particularly for new investors or those with limited capital, allowing them to start with any amount they are comfortable investing.
For more details on Robinhood's features and services, you can refer to comprehensive reviews such as the Robinhood Review on NerdWallet.
