Robinhood gold

>>1796742
Bump, I don't get the point of it either

I have recently started using gold.
I could really care less about the extended trading hours. The great thing is doubling your profits(and losses)

Also if you are not a robinhood instant user you will basically have an instant account so you can sell and reinvest more often. No more waiting around for 3 days for your deposit or to reinvest your money while that 33 dollar in you saw shoots up to 45.

Sorry I cannot answer your question because I have alot more than I have on margin. Though in my case when i invest i have to own i think 65% of the stock with my money and the rest is Robinhoods money. then it can go down to 45% my money and I will still be okay without a margin call.

>>1796742
Good post op , been wondering this myself. Does it add day trades? That's the only reason I can think of that would make it worth it

>>1796809
By law you must have $25k to day trade without limits in a margin account. No way around it unfortunately, unless you want to deal with T+3 in a cash account.

>>1796809
Well It does not allow you to day trade. they have a daytrade counter that if you do it more than 4 times your account gets locked (or so i have heard)

last time i tried to reinvest in the same day it told me I could not reinvest my profits gained in the same day according to FDA or some shit.

So i believe you can reinvest money you already had but must wait one day to reinvest profits made.

Still coming from a normal robinhood account this is an AMAZING change but if you already have a robinhood instant account there is no difference.

>>1796825
Basically I want it for the extended hours.

I just need to know if I can get it for:

1. $10 a month or so.

2. I remain Gold if my portfolio value dips below 2k.

Their site says: The app says I have Gold Withheld. What is that?

Gold withheld is a side effect of the regulatory safeguards that are in place to protect users, brokerages, and the market. Gold withheld can happen for a few reasons:

Your portfolio value drops below your selected tier.

By law, Robinhood can only extend up to double your portfolio value in Gold Buying Power. If your portfolio value drops below your tier, some of your Gold Buying Power will be in Gold Withheld until your portfolio value goes back up.

But does that mean you remain Gold tier in the sense that you have access to extended hours?

>>1796851
1.The 2,000 gold account is 10 dollars a month yes. You should also get the first month free.

2. The way i see it is if you are paying for the account you are getting many things not just the margin money. so if you dont qualify for the margin money you are still paying so you should get the extended hours still.

You could always call their customer support and ask.

Or you could upgrade to gold for the free month and see if it does what you want and if it isnt what you wanted return it. You can stop it at any time even if its in the free month still.

>>1796859
Thanks anon, I'll give it a shot. I also emailed their support to find out what happens if you dip below 2k.