Robinhood review
- Fee charged on a $1,000 purchase
- $0by bank transfer
- Time needed for a bank withdrawal
- No information has been published
- Coins
- 92
Robinhood doesn't publish a fee for crypto purchases of $1,000 made by bank transfer. A spread is built into Robinhood's price, though the company hasn't published how much it is. Robinhood serves customers across all 50 states, according to the company.
- Buying $1,000 through a bank transfer
- $0 plus the spread
- States where the service isn't available
- Service available in every state
- Bank withdrawal
- Free
- Licence from New York NYDFS
- Yes dfs.ny.gov
the score is 6.8, with 10 as the maximum
- Fees score 9.0 out of 10 and account for 30%
- Availability gets 7.6 out of 10 and carries a 20% weight
- The security and licences category earns 3.0 out of 10 and carries 20% weighting
- Products score 4.5/10 and carry a 15% weight
- App ratings get 8.6 out of 10 and carry a 15% weight
We earn a commission if you open an account through our links. It does not change the fees you pay or our score.
Open a Robinhood accountRobinhood fees in dollars
Each fee listed in the Robinhood table links to its source page on Robinhood. The $1,000 example totals all the fees.
| Fee | Rate | Source | Read on |
|---|---|---|---|
| Simple buy fee | 0% | cdn.robinhood.com | November 2, 2026 |
| How the simple buy fee is set | No commissions (default market maker routing) | cdn.robinhood.com | November 2, 2026 |
| Spread | A buy/sell spread forms part of the price, with smaller spreads for better-known coins; Robinhood receives volume rebates from market makers, though the amount isn't stated | robinhood.com | November 2, 2026 |
| Bank transfer buy fee | 0% | robinhood.com | November 2, 2026 |
| Advanced maker fee, entry tier | 0.5% | cdn.robinhood.com | November 2, 2026 |
| Advanced taker fee, entry tier | 0.95% | cdn.robinhood.com | November 2, 2026 |
| Bank deposit (ACH) | Free | robinhood.com | November 2, 2026 |
| Wire deposit | Free | robinhood.com | November 2, 2026 |
| Bank withdrawal (ACH) | Free | robinhood.com | November 2, 2026 |
| Wire withdrawal | $25 | robinhood.com | November 2, 2026 |
| Instant cash out | Instant withdrawals to a debit card or bank account cost 1.75% (min $1, max $150) | robinhood.com | November 2, 2026 |
| Bitcoin withdrawal | Robinhood charges no fee; you pay only the network fee, which appears as an estimate before you send | cdn.robinhood.com | November 2, 2026 |
Costs at Robinhood for $1,000
Every payment or payout method is calculated using the same $1,000. Robinhood doesn't publish a figure for any method marked with a dash.
| What you do with $1,000 | You pay | How it is charged |
|---|---|---|
| Buy by bank transfer (ACH) | $0 | no fee, plus spread |
| Buy by wire | $0 | no fee, plus spread |
| Sell and send to your bank (ACH) | $9.50 | The taker charge is 0.95%, while Exchange routing fee tiers apply and the payout is free |
| Cash out to your bank (ACH) | $0 | free |
| Cash out by wire | $25 | flat fee |
| Cash out instantly to a debit card | $17.50 | 1.75% fee, capped at $150, minimum $1 |
| Send Bitcoin to a wallet | – | Network fee shown before you send |
All Robinhood fees appear on the Robinhood fees page, where you can calculate your amount.
Robinhood availability
Robinhood says customers across all 50 states can use its service. Residents of New York can use it as well.
Robinhood money withdrawals
You can withdraw money from Robinhood to your bank for free. If other holdings don't exceed the unsettled amount, Crypto bought with instant (unsettled) funds can't be transferred out until normal settlement under Robinhood's hold rule.
For withdrawal times, limits and advice if a withdrawal is stuck, check the Robinhood withdrawal guide.
The company behind Robinhood and its licences
Robinhood Crypto, LLC operates Robinhood's US business.
A New York licence or charter is granted to Robinhood by NYDFS.
Robinhood's state licences are available on its state licences page.
Robinhood has 2 dated incidents. Each incident and its source appear here.
Security at Robinhood
No proof-of-reserves attestation has been published by Robinhood on the pages we read.
Nearly all customer crypto is held in cold storage at Robinhood, where holdings aren't lent out or used as borrowing collateral. If theft occurs, part of the loss is covered by crime insurance from Lloyd's syndicates.
Robinhood posts outages on its status page.
Robinhood app ratings
On the App Store, Robinhood has 4.3 out of 5 from 4,899,968 ratings
Opening a Robinhood account
Opening a Robinhood account requires an age of 18+, a valid SSN (not ITIN) and a residential address in the US (50 states, PR, USVI) For eligibility, you also need a valid visa, permanent residence, or US citizenship Further Crypto transfer checks may take no more than 5 days, with weekends and public holidays excluded.
Opening a Robinhood account requires you to be at least 18.
Staking through Robinhood
US customers may stake with Robinhood, but each reward carries a 25% commission. The service isn't available in California, Maryland, New Jersey or Wisconsin.
Benefits and drawbacks of Robinhood
Pros
- A $1,000 bank-transfer buy costs $0 at Robinhood, which ranks among the four cheapest US exchanges.
- Robinhood serves every one of the 50 states.
- NYDFS licenses Robinhood. No US state regulator is stricter for Crypto.
- Robinhood's simple buy button costs more than its order-book platform, which uses Exchange routing fee tiers.
Cons
- Robinhood's simple buy price includes a spread, but Robinhood doesn't publish it.
- Robinhood has 92 coins, which is fewer than the bigger exchanges offer.
- Robinhood has 2 dated incidents on record, involving enforcement or security.
Comparisons involving Robinhood
Side-by-side pages place Robinhood beside the exchanges people most often compare with it.
Further reading about Robinhood
Questions people often ask
Can you use Robinhood throughout every US state?
Robinhood serves customers across all 50 states, according to the company.
How much time does a bank withdrawal from Robinhood take?
Robinhood bank withdrawals don't cost you anything.
Is a 1099 form issued by Robinhood?
Yes. Robinhood provides Form 1099-DA for Robinhood Crypto, and it covers Robinhood crypto activity. You can view it in a single consolidated 1099 PDF.