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Robinhood investing accounts

To suit your investing goals and needs, you can trade in a margin account or a cash account. Keep in mind, there are some key differences between them. Check out the following comparison table.

Margin accounts

Margin accounts

  • Trade with unsettled funds from stock and option sales. You don’t have to wait for funds to settle (1 trading day for stocks and options).
  • Access margin investing. If eligible, you can enable margin investing and get more buying power.
  • Access Level 3 options trading. If eligible, you can trade multi-leg options, like spreads.
  • Pattern day trading regulations. If you make 4 or more day trades within 5 trading days in a margin account, you may be flagged as a pattern day trader. Review Pattern day trading for more information.
  • Futures trading. You can trade futures with a margin account if you’re options approved or margin investing is enabled.

Cash accounts

Cash accounts

  • Unlimited day trades. Cash accounts aren’t subject to pattern day trading regulations.
  • No trading with unsettled funds from stock and options sales. Stocks and options take 1 trading day to settle.
  • No options rolling. Cash accounts can’t simultaneously close an option and open a new one.
  • Futures trading. You can trade futures in a cash account if options investing is enabled.
Unlimited day tradesAccess margin investingAccess level 3 options tradingTrade with unsettled funds from stock and options sales
Margin accounts❌✅✅✅
Cash accounts✅❌❌❌

Switch accounts

Switch accounts

App
  1. Select Account (person icon) → Menu (3 bars)
  2. Select Investing
  3. Scroll down to Account type, and then select either Switch to margin account or Switch to cash account
Web classic
  1. Select Account → Settings
  2. Select Investing
  3. Select Account type, and then select either Switch to margin account or Switch to cash account
Note

You can’t switch accounts more than once each trading day. Also, if you made a day trade before switching to a cash account, you have to wait 5 trading days after that trade to switch back.

Disclosures

Disclosures

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, review our Margin Disclosure Statement.

Robinhood doesn't promote day trading. Day trading can be extremely risky. Day trading is generally not appropriate for someone of limited resources, limited investing experience, and low risk tolerance.

Futures, options on futures and cleared swaps trading involves significant risk and is not appropriate for everyone. Please carefully consider if it's appropriate for you in light of your personal financial circumstances.

Please read the Futures Risk Disclosure Statement prior to trading futures products, and please read the Event Contract Risk Disclosure for more information about the risks associated with forecast event contracts.

RHD accounts are not protected by the Securities Investor Protection Corporation (SIPC) and are not Federal Deposit Insurance Corporation (FDIC) insured. RHD is not a bank. Prior to trading virtual currency Futures products, please review the NFA Investor Advisory & CFTC Advisory providing more information on these potentially significant risks.

Futures, options on futures and cleared swaps trading is offered by Robinhood Derivatives, LLC, a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA).

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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker dealer (member SIPC), and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC).

Futures and cleared swaps trading is offered by Robinhood Derivatives, LLC, (“RHD”) a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and a Member of the National Futures Association (NFA). RHD is not FDIC insured or SIPC protected.

Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Review a list of RHC's licenses for more information. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected.

The Robinhood spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Review a list of our licenses for more information.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Robinhood Gold Card is subject to credit approval and underwriting. Robinhood Gold Card is offered by Robinhood Credit, Inc., and is issued by Coastal Community Bank, pursuant to a license from Visa U.S.A. Inc. Robinhood Credit, Inc. (“RCT”), is a financial technology company, not a bank.

Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC (“RHG”).

RHF, RHY, RHC, RCT, RHG, RHD, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, RHG, RHD, and RHS are not banks. Investing products offered by RHF are not FDIC insured and involve risk, including possible loss of principal.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

RO 4146192

Robinhood, 85 Willow Road, Menlo Park, CA 94025. © 2025 Robinhood. All rights reserved.
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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker dealer (member SIPC), and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC).

Futures and cleared swaps trading is offered by Robinhood Derivatives, LLC, (“RHD”) a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and a Member of the National Futures Association (NFA). RHD is not FDIC insured or SIPC protected.

Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Review a list of RHC's licenses for more information. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected.

The Robinhood spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Review a list of our licenses for more information.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Robinhood Gold Card is subject to credit approval and underwriting. Robinhood Gold Card is offered by Robinhood Credit, Inc., and is issued by Coastal Community Bank, pursuant to a license from Visa U.S.A. Inc. Robinhood Credit, Inc. (“RCT”), is a financial technology company, not a bank.

Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC (“RHG”).

RHF, RHY, RHC, RCT, RHG, RHD, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, RHG, RHD, and RHS are not banks. Investing products offered by RHF are not FDIC insured and involve risk, including possible loss of principal.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

RO 4146192

Robinhood, 85 Willow Road, Menlo Park, CA 94025. © 2025 Robinhood. All rights reserved.