Robinhood brokerage accounts

Robinhood offers three types of brokerage accounts, each designed to suit your investing goals and needs.

Copy link to clipboard

Robinhood Instant

When you sign up for a new brokerage account, you’ll be enrolled in Robinhood Instant by default. (You’ll also be given the option to opt out and open a cash account instead.) With Instant, you’ll have access to Instant Deposits (up to $1,000) and extended-hours trading. You’ll also have the ability to trade on unsettled funds, which means you won’t have to wait for your funds to process when you sell securities. And if you’re approved for options trading, you will be able to enter options trades that require a margin account. But you will not have the option to purchase securities on credit (what’s traditionally called “margin investing”) with an Instant account.

All brokerage customers have the option to start with an Instant account, which is a margin account, so that they can access funds before they’ve settled and enter options trades if they’re approved. Even if you’ve never borrowed money in your account, this account type is still classified as a “margin” account from a regulatory standpoint. As a result, it will appear as such on your annual tax documents and monthly account statements.

There may be certain limited scenarios in which you borrow on margin with an Instant account.

Copy link to clipboard

Robinhood Gold

A Robinhood Gold account is a margin account, similar to a Robinhood Instant account, and can give you access to more buying power through margin investing and larger instant deposits. Like with an Instant account, a Gold account gives customers access to funds before they’ve settled. And like with an Instant account, if you’re approved for options trading, you will be able to enter options trades that require a margin account. With Gold, if eligible, you can also enable margin investing, which can give you access to borrowed funds for trading. Even if you do not have margin investing enabled, there may be certain limited scenarios in which you still borrow on margin.

With Gold, you’ll also have access to Level II market data from Nasdaq and professional market research from Morningstar. A Gold membership costs $5/month.

Copy link to clipboard

Robinhood Cash

Cash accounts are not subject to pattern day trading restrictions. This means you can trade stocks, ETPs, and options without worrying about your number of day trades.

With a cash account, deposits must clear before they are available to invest. This may take up to 5 business days, but depends on your method of deposit and deposit history at Robinhood.

Cash accounts can’t trade with unsettled funds. You’ll need to wait 2 business days to make trades with funds from equity sales, and 1 business day to make trades with funds from options sales.

Cash accounts also can’t access Level 3 options trading, or options rolling. If approved for options, you can only access Level 2 options trading.

You can switch to a cash account from both Robinhood Instant and Gold. However, you will not be able to switch back to Instant or Gold until 5 trading days have passed.


Brokerage accounts are offered through Robinhood Financial LLC (member SIPC), is a registered broker dealer.

Margin investing involves the risk of greater investment losses. 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 please see our Margin Disclosure Statement.

Options trading entails significant risk and is not appropriate for all investors. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Customers should consider their investment objectives and risks carefully before investing in options. Supporting documentation for any claims, if applicable, will be furnished upon request.

Reference No. 20220630-2267111-7107870
Still have questions? Contact Robinhood Support