How do I downgrade from Gold?
You can end your Robinhood Gold subscription by going to Settings → Robinhood Gold → Cancel membership. If you downgrade, you'll still have access to the premium features such as the lower margin interest rate offered with Gold and the higher brokerage cash sweep rate, until your billing cycle ends.
Be sure to cancel your subscription before your next billing date to avoid being charged a renewal for another billing cycle of Gold. You can find the billing date in Settings → Gold. If you change your mind and decide to upgrade your account before the end of your previous billing cycle, you’ll resume your old billing cycle.
You’ll be able to use Gold-level Instant Deposits up to the end of your 30-day paid period. After that, you won’t be able to initiate a new Gold-level Instant Deposit unless you re-subscribe to Gold.
If you change your mind and decide to upgrade your account before the end of your previous billing cycle, you’ll resume your old billing cycle.
Additionally, if you have brokerage cash sweep enabled and downgrade from Gold, the interest rate you can earn on any uninvested cash will switch to the lower non-Gold annual percentage yield (APY) of 1.5%* when your billing cycle ends.
*The non-Gold cash sweep program APY will switch to 0.01% in May 2024.
If you need help downgrading, contact us.
If you downgrade in the middle of your billing cycle, the monthly fee won’t be prorated. Also, if you have margin investing enabled and downgrade from Gold, you’ll accrue interest at the non-Gold rate when your billing cycle ends. This means that if you have a margin balance, you’ll begin accruing interest at 12% instead of 8% when your billing cycle ends. For more information, check out What’s margin investing?
The brokerage cash sweep program is an added feature to your Robinhood Financial LLC individual investing account. Robinhood Gold is offered through Robinhood Financial 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 paid to Robinhood. As of Nov 15, 2023, you'll receive 1.5%* APY, or 5% (with Gold). Any fees 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 $2.25 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, please see 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 standard margin interest rate of 12% and a margin interest rate of 8% for customers who subscribe to Gold. The margin interest rate is calculated by adding 6.5% (for non-Gold customers) or 2.5% (for Gold customers) to 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 July 27, 2023 and might change at any time without notice and at Robinhood Financial’s discretion. The standard margin interest rate will be rolled out to customers who do not subscribe to Gold in phases over a period of time, subject to eligibility criteria, and so may not be available immediately to all customers.
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.
Robinhood Financial LLC (member SIPC) is a registered broker-dealer. Robinhood Securities, LLC (member SIPC) is a registered broker-dealer and provides brokerage clearing services. Robinhood Crypto, LLC provides crypto trading. All are subsidiaries of Robinhood Markets, Inc. (‘Robinhood’).