Robinhood Account Types

　　Robinhood offers two main types of brokerage accounts: Margin Accounts and Cash Accounts.

• Margin Accounts:
• Trade with unsettled funds from stock and option sales.
• Access to margin investing, allowing for increased buying power if eligible.
• Eligible for level 3 options trading, including multi-leg options like spreads.
• Subject to pattern day trading regulations; making 4 or more day trades within 5 trading days may classify you as a pattern day trader.
• Can trade futures if options approved or margin investing is enabled.
• Cash Accounts:
• Unlimited day trades without being subject to pattern day trading regulations.
• Cannot trade with unsettled funds from stock and options sales; trades take 1 trading day to settle.
• No options rolling; cannot simultaneously close an option and open a new one.
• Futures trading is allowed if options investing is enabled.

　　

Robinhood Broker Account Opening Process

　　Opening a Robinhood account is a simple and quick process that can be completed in under four minutes. Heres a step-by-step guide:

• Set Up an Account:
• Navigate to Robinhood's sign-up page.
• Provide basic information such as your name and email address, and create a username and password.
• Enter Your Contact Information:
• Input your home mailing address and phone number.
• Answer questions regarding employment in financial sectors.
• Verify Your Identity:
• Provide your Social Security Number, citizenship status, marital status, date of birth, and employment information to comply with legal requirements.
• Fund Your Account:
• Choose to fund your account from a list of financial institutions. There are no minimum deposit requirements.
• Submit the Application:
• Review the account agreements and submit your application.
• Download the App:
• After application approval, download the Robinhood app on your mobile device.
• Log In to the App:
• Log in using your account information and add funds to start investing.

　　By following these steps, you can easily open a Robinhood account and start trading.