How do I downgrade from Gold?
To cancel your Robinhood Gold subscription:
If you cancel, you’ll still have access to Gold’s premium features, like the higher brokerage cash sweep rate, until the end of your current billing cycle.
To avoid being charged for another billing cycle, make sure to cancel before your next billing date. You can find this date in Account → in the app, Menu (3 bars) → Investing → Settings → Robinhood Gold.
If you decide to subscribe again before the end of your current billing cycle, your old billing cycle will resume without changes.
You’ll retain access to Gold-level Instant Deposits through the remainder of your 30-day paid period. After this period, you won’t be able to initiate new Gold-level Instant Deposits unless you subscribe to Gold again.
If you have brokerage cash sweep enabled and downgrade from Gold, the interest rate on your uninvested cash will revert to the lower non-Gold annual percentage yield (APY) at the end of your billing cycle.
The brokerage cash sweep program is an added feature to your Robinhood Financial LLC individual investing account. Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC. For more information, see the Robinhood Gold User Agreement.
Interest is earned on uninvested cash swept from your individual investing account to program banks. Program banks pay interest on your swept cash, minus any fees or charges paid to Robinhood. As of Nov 15, 2024, the APY for Gold members is 4.25%. Any fees or charges Robinhood receives may vary and are subject to change. Neither Robinhood Financial LLC nor any of its affiliates are banks.
With the brokerage cash sweep program, the eligible uninvested cash in your individual investing account (unrestricted cash intended for investing but that you have not yet invested or spent) is swept to program banks, where it becomes eligible for FDIC insurance up to $2.5 million or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. Note that until funds are swept to a program bank, they are held in your individual investing account which is protected by SIPC. Once funds are swept to a program bank, they are no longer held in your individual investing account and are not protected by SIPC. However, these funds are eligible for FDIC insurance through the program banks subject to FDIC insurance coverage limits and any capacity limitations at the banks. Review the IntraFi Network Deposit Sweep Program Agreement for more information.
Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
Not all investors will be eligible to trade on margin. Margin involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Before using margin, customers must determine whether this type of strategy is right for them given their investment objectives and risk tolerance.
For more information, review FINRA’s Investor Alert and Robinhood Financial’s Customer Relationship Summary, Margin Disclosure Statement, and Margin Agreement. These disclosures contain important information on Robinhood Financial’s products and services, conflicts of interests, lending policies, interest charges, and the risks associated with margin investing enabled accounts.
Robinhood Financial charges a variable margin rate based on your settled margin balance and the upper bound of the Target Federal Funds Rate, which is set by the Federal Reserve and is subject to change without notice The formulas used to calculate the margin interest rate are subject to change at Robinhood Financial’s discretion. The margin rates shown are as of November 7, 2024 and might change at any time without notice and at Robinhood Financial’s discretion.