These banks will pay interest on the swept cash.** On June 1st, this maximum will increase to up to $2 million. The cash deposited to these banks is covered by FDIC insurance up to a total maximum of $1.5 million (up to $250,000 per program bank, inclusive of deposits customers may already hold at the bank in the same ownership capacity). All eligible customers who opt in to brokerage cash sweep have their uninvested brokerage account cash automatically “swept,” or moved, into deposit accounts at a network of program banks.

There’s zero cap on earnings and customers can access their money at any time.Īt Robinhood, we want our customers to feel confident and secure when they use our products. It’s our highest rate yet and is 19x more in interest when compared to the national average savings rate,* making it one of the best rates available. That’s why on Thursday, May 4 we’re raising our Robinhood Gold rate again –this time to 4.65% APY.

At Robinhood, we’re always looking for ways to help our customers make their money work for them. The Fed just announced interest rates are going up again. All are subsidiaries of Robinhood Markets, Inc. Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Securities, LLC (member SIPC ), is a registered broker dealer and provides brokerage clearing services. Robinhood Financial LLC (member SIPC ), is a registered broker dealer. This material is informational in nature and does not constitute a solicitation of or a recommendation to buy, sell, or hold a particular security. The specific symbols shown in Robinhood 24 Hour Market promotional materials were selected by choosing the largest stocks by volume of orders placed on the Blue Ocean Alternative Trading System (BOATS) during the overnight trading session (8PM ET - 4AM ET) in the 90-day period ending 3/13/23. Please review the Extended Hours Trading Disclosure for more information concerning these risks. There are additional, unique risks with trading outside of regular market hours you should be aware of before making an investment decision, including the risk of lower liquidity, increased volatility, greater spreads, and pricing uncertainty. Tweet us - Like us - Join us - Get help - DisclosuresĪll investments involve risk and loss of principal is possible. If you don’t have the option to try it out right away, you will soon. We’ll start rolling out 24 Hour Market next week, 5/16 to a subset of customers and it will be available to everyone in June. Robinhood’s 24 Hour Market levels the playing field so extended trading is no longer exclusively reserved for those operating on U.S.

Blogo opening hours