The Rock 
Est. 2013 · Based in USRegulatory record
| Date | Authority | Record | Amount | Status | Primary source |
|---|---|---|---|---|---|
| FINRAthe US broker self-regulator; United States | Financial penalty | USD 26,000,000 | Resolved | "FINRA Orders Robinhood Financial to Pay $3.75 Million in Restitution to Customers"FINRA, fetched 9 October 2026 | |
| SECthe US securities regulator; United States | Financial penalty | USD 45,000,000 | Resolved | "Two Robinhood Broker-Dealers to Pay $45 Million in Combined Penalties for Violating More Than 10 Separate Securities Law Provisions"US Securities and Exchange Commission, fetched 9 October 2026 | |
| NYDFSNew York State's financial regulator; New York, United States | Financial penalty | USD 30,000,000 | Resolved | "DFS Announces $30 Million Penalty on Robinhood Crypto for Anti-Money Laundering, Cybersecurity & Consumer Protection Violations"New York State Department of Financial Services, fetched 9 October 2026 |
Our verdict on Robinhood
Best for: US citizens, permanent residents and valid US visa holders aged 18 or over with a Social Security Number and a US residential address (limited military exceptions apply).
Not ideal for: Australian residents, who cannot open an account; Robinhood says its crypto has no SIPC or FDIC cover.
What we checked
- Spot fee schedule: Robinhood Crypto US exchange routing, USD 0 to 10K trailing 30-day exchange-routing volume (lowest tier), checked 9 October 2026. Provider fee page
- Contracting entity: Robinhood Crypto, LLC, from Robinhood Crypto, fetched 9 October 2026. Source
- Register lookup: FinCEN MSB Registrant Search, 9 October 2026: listed, current. Entity: Robinhood Crypto, LLC. Register Screenshot
- Register lookup: NYDFS list of regulated virtual currency entities, 9 October 2026: listed, current. Entity: Robinhood Crypto, LLC. Register Screenshot
- Regulatory and reputation screen: 9 October 2026. Methodology
- Third-party ratings captured: 2 October 2026. Ratings
Not checked: opening an account, deposits, withdrawals, live orders and customer support.
Who checked this page: our research process, in which an AI language model works from the sources listed and automated checks compare figures with those sources. No named person has reviewed this page.
Robinhood does not accept residents of Australia under its published terms.
Affiliate link. We may receive payment when you click through to a partner site.
Pros
- Crypto sale proceeds can be used right away to buy stocks, options or more crypto
- 91 crypto tradable in the US app on Robinhood's list read 9 October 2026
- Exchange routing fees fall from 0.95% to 0.03% (taker) as 30-day volume rises
- No Robinhood fee to send or receive crypto; network fees apply
Cons
- Default routing pays Robinhood Crypto USD 0.95 per USD 100 inside the spread
- Crypto held at Robinhood Crypto is not covered by SIPC or FDIC
- No proof-of-reserves report found on Robinhood's pages on 9 October 2026
- Not open to Australian residents: Robinhood Crypto requires a Social Security Number and, with limited exceptions, a US residential address
Our Verdict on Robinhood Crypto
Robinhood Crypto accepts people aged 18 or older who hold a valid Social Security Number (not a Taxpayer Identification Number), a legal US residential address within the 50 states or Puerto Rico, with exceptions that may apply for active US military personnel stationed abroad, and US citizenship, US permanent residency or a valid US visa. The service is available in every US state, the US Virgin Islands, Puerto Rico and the District of Columbia. Its availability table, read on 9 October 2026, lists 91 distinct crypto. Australian residents cannot open an account.
On our arithmetic, exchange routing at the lowest volume tier adds USD 9.50 to a USD 1,000 market order, or USD 5.00 to a resting limit order. With market maker routing, USD 9.50 of the spread goes to Robinhood Crypto, and the full spread shows only at order review. Standard bank transfers (ACH) in and out carry no fee, while instant withdrawals by debit card or real-time payment cost 1.75% (minimum USD 1, maximum USD 150). The register lookups of 9 October 2026 list Robinhood Crypto, LLC with both FinCEN and NYDFS. NYDFS imposed a USD 30 million penalty on 2 August 2022 for anti-money laundering and cybersecurity failures.
The main risk is the absence of cover: crypto at Robinhood Crypto is not protected by SIPC or FDIC, and Robinhood's own risk disclosure says holders do not generally have special protections if an intermediary becomes insolvent. We found no proof-of-reserves report from Robinhood on 9 October 2026.
Overview of Robinhood
Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840), a subsidiary of Robinhood Markets, Inc. The company is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. It gives 85 Willow Road, Menlo Park, California as its address for complaints.
Robinhood's Crypto Fees
Market maker routing is the default for orders in the Robinhood app and on web classic, and there is no commission. Robinhood Crypto receives a portion of the dollar value of each executed order from its market makers, and that amount is included in the spread. As of 15 June 2026, it receives USD 0.95 for every USD 100 of order volume. Robinhood's own example: on a USD 100 buy with a 0.96% buy spread, Robinhood Crypto receives USD 0.95 of the 0.96. It does not disclose the names of its market makers.
Orders fill at the bid or ask price, not at the mid price shown on the chart, and the current bid and ask appear on the order review screen. Robinhood says spreads are typically smaller for better known crypto such as Bitcoin and larger for lesser known crypto. Exchange routing sends orders to partner exchanges, EDX Markets, Inc. and Bitstamp USA, Inc.
Robinhood Crypto receives no rebate on exchange routing and charges a fee instead. Taker fees run from 0.95% down to 0.03% by trailing 30-day volume, and maker fees from 0.50% down to 0.00%. Of the fee, 0.00% to 0.02% goes to the executing partner exchange. Details are in the Robinhood Crypto order routing article.
| Recorded fee | Rate per executed order |
|---|---|
| Maker | 0.5% |
| Taker | 0.95% |
Published US exchange-routing rates; maker and taker fees are rolling out gradually and may not be available to all customers yet. Excludes market maker routing, UK and EU services, funding and network charges.
Provider fee information · Schedule checked .
Market and stop orders always pay the taker fee. Limit and stop-limit orders pay the maker fee when they are not immediately matched on the order book, and the taker fee if they execute immediately. Maker/taker fees are rolling out gradually and may not be available to all customers yet. A tier upgrade is locked in for 7 days.
Exchange Routing Fee Tiers
| Trailing 30-day exchange routing volume | Taker fee | Maker fee |
|---|---|---|
| USD 0 to 10K | 0.95% | 0.50% |
| USD 10K to 50K | 0.75% | 0.35% |
| USD 50K to 250K | 0.25% | 0.125% |
| USD 250K to 500K | 0.15% | 0.075% |
| USD 500K to 1M | 0.125% | 0.06% |
| USD 1M to 5M | 0.10% | 0.04% |
| USD 5M to 10M | 0.04% | 0.02% |
| USD 10M to 25M | 0.03% | 0.01% |
| USD 25M and above | 0.03% | 0.00% |
Source: Robinhood Crypto fee schedule, document 20260622-5628344-17827487, read 9 October 2026.
Worked Example: Buying USD 1,000 of Bitcoin
Our arithmetic from published fees, checked 9 October 2026. It is not a quote from Robinhood.
The inputs are a US resident buying USD 1,000 of Bitcoin (BTC) in the Robinhood app, with the price unchanged. On exchange routing, the fee is added to the notional value of the order for buys, and subtracted from it for sells. The rows below show the lowest volume tier, two higher tiers, and the transfer and withdrawal steps.
| Route and order type | Rate applied | Fee or payment (USD) | Total paid (USD) |
|---|---|---|---|
| Market maker routing (app default) | No commission; 0.95% of the order paid to Robinhood Crypto inside the spread | 9.50 of the spread goes to Robinhood Crypto | Not calculated (see the note below the table) |
| Exchange routing market order (USD 0 to 10K tier) | 0.95% taker | 9.50 | 1009.50 |
| Exchange routing resting limit order (USD 0 to 10K tier) | 0.50% maker | 5.00 | 1005.00 |
| Exchange routing market order (USD 50K to 250K tier) | 0.25% taker | 2.50 | 1002.50 |
| Exchange routing market order (USD 25M and above tier) | 0.03% taker | 0.30 | 1000.30 |
| Send the BTC to an external wallet | No Robinhood fee | 0.00 plus the network fee | Network fee shown before sending |
| Withdraw USD 1000 by standard bank transfer (ACH) | No fee | 0.00 | Not applicable |
| Withdraw USD 1000 by debit card or RTP | 1.75% (min USD 1 max USD 150) | 17.50 | Not applicable |
Inputs and Sources
- Order: a US resident buys USD 1,000 of BTC in the Robinhood app, and the price does not move between order and fill
- Exchange routing rates by 30-day volume tier: Robinhood Crypto fee schedule, document 20260622-5628344-17827487, read 9 October 2026
- Market maker payment of USD 0.95 per USD 100 (as of 15 June 2026), and buy total equal to the order value plus the fee on exchange routing: Robinhood crypto order routing article, read 9 October 2026
- Taker fee for market and stop orders, maker fee for resting limit orders: Robinhood crypto fee tiers article, read 9 October 2026
- Crypto transfers (USD 0 plus the network fee): Robinhood Crypto fee schedule; bank, debit card and RTP withdrawals: Robinhood transfer types table, both read 9 October 2026
- Arithmetic: fee equals USD 1,000 multiplied by the rate; total paid equals USD 1,000 plus the fee
Crypto Markets
Robinhood's US crypto availability table, read on 9 October 2026, lists 91 distinct crypto, all tradable in the app and on web classic with market maker routing. 68 of the crypto can be traded in the app with fee tiers, and 67 on Robinhood Legend. 33 are not available for trading in New York, and USD Coin (USDC) and Global Dollar (USDG) are not available for trading in Texas. The coin availability article carries the table.
BTC 
ETH 
SOL 
ADA 
DOGE 
AVAX 
XRP 
LTC 
SHIB Order types are market, limit, stop and stop limit. Robinhood converts market orders into limit orders with a buffer of up to 1% for buys and 5% for sells, and a market order that has not executed after 2 minutes may be cancelled. Orders can be placed in US dollars or in crypto quantities, including fractions of a coin.
The minimum order size is USD 0.01 with market maker routing and USD 0.03 with exchange routing. Position limits are a maximum cost basis of USD 50,000,000 per crypto for BTC, ETH, DOGE, PEPE, SHIB and XRP, and USD 20,000,000 for each other crypto. Crypto is non-marginable with a 100% maintenance requirement, so it must be fully paid in cash and cannot serve as collateral.
Crypto Available on Robinhood in the US
| Crypto | Fee tiers in the app | Robinhood Legend | Tradable in New York |
|---|---|---|---|
| Bitcoin (BTC) | Yes | Yes | Yes |
| Ethereum (ETH) | Yes | Yes | Yes |
| Dogecoin (DOGE) | Yes | Yes | Yes |
| Litecoin (LTC) | Yes | Yes | Yes |
| Shiba Inu (SHIB) | Yes | Yes | Yes |
| 0x Protocol (ZRX) | No | No | Yes |
| Aave (AAVE) | Yes | Yes | Yes |
| Aerodrome Finance (AERO) | Yes | Yes | Yes |
| Algorand (ALGO) | No | No | Yes |
| Arbitrum (ARB) | Yes | Yes | Yes |
Source: Robinhood crypto availability article, read 9 October 2026. "No" in the last column marks crypto not available for trading in New York. Robinhood's table lists Zora twice; it appears once here.
Trading Platforms and Tools
Routing differs by platform. The Robinhood app offers both market maker routing and exchange routing for certain crypto. Web classic offers market maker routing only. Robinhood Legend, which the fee schedule describes as used via the website, uses exchange routing only, as does the mobile ladder. The ladder is still rolling out to customers, and North Carolina residents cannot trade through it. Mobile advanced charts use exchange routing for eligible crypto and market maker routing for the rest, and crypto can also be traded through the Robinhood Crypto Trading API.
Robinhood app
The main Robinhood app is not listed on the Australian App Store.
Safety and Regulation
Register lookups on 9 October 2026 show that the FinCEN Money Services Business registrant search lists Robinhood Crypto, LLC. On the same day, the NYDFS list of regulated virtual currency businesses lists Robinhood Crypto, LLC as holding virtual currency and money transmitter licences, granted in January 2019. Robinhood Crypto, LLC also lists state money transmitter and related licences in its own licences document dated 28 October 2025.
According to Robinhood's crypto support article, cryptocurrencies offered by Robinhood Crypto, LLC are not securities and are not FDIC insured or protected by SIPC. Robinhood also states that Robinhood Crypto is not a member of FINRA or SIPC. Robinhood's crypto risk disclosure says cryptocurrency holders do not generally have special protections in the event of an intermediary's insolvency.
NYDFS announced on 2 August 2022 that Robinhood Crypto, LLC agreed to pay a USD 30 million penalty for failures in bank secrecy act and anti-money laundering obligations and cybersecurity, and to retain an independent consultant. NYDFS also found it did not keep a dedicated phone number on its website for consumer complaints. The NYDFS press release records the action. On 13 January 2025 the SEC announced that the broker-dealers Robinhood Securities LLC and Robinhood Financial LLC, not Robinhood Crypto, LLC, agreed to pay USD 45 million in combined civil penalties over a range of violations. On 7 March 2025 FINRA fined Robinhood Financial and Robinhood Securities USD 26 million and ordered Robinhood Financial to pay USD 3.75 million in restitution to customers, including for anti-money laundering failures. The firms consented without admitting or denying the charges.
Custody and Asset Storage
Robinhood says it holds the majority of customers' coins in cold storage, entirely disconnected from the internet. It says it carries crime insurance that protects a portion of the assets held across its storage systems against theft, including cybersecurity breaches, underwritten by Lloyd's syndicates. Its support article says it does not lend customers' crypto or leverage against it, and that it performs regular audits.
In its Form 10-Q for the quarter ended 30 June 2026, filed 30 July 2026, Robinhood Markets, Inc. reported USD 26.3 billion of cryptocurrency held in custody on behalf of users, including staked assets, at fair value on 30 June 2026, against USD 38.2 billion on 31 December 2025. The figure covers all of Robinhood's platforms. The filing says settled crypto is held in hot wallets managed online and cold wallets managed entirely offline that require physical access controls, that the overwhelming majority of coins are in cold storage, and that the legal treatment of crypto held in custody in an insolvency is still evolving. No proof-of-reserves report from Robinhood was found on the pages and documents we read on 9 October 2026.
Security Record
What traders say about Robinhood
Trustpilot and app-store ratings are third-party snapshots captured on the date shown. They are not our assessment.
| Site | Profile | Rating | Count | Captured |
|---|---|---|---|---|
| Trustpilot | trustpilot.com/review/robinhood.comPaid plan badge | 3.9 of 5 | 13,914 reviews | October 2026 |
Funding and Withdrawals
Standard bank transfer (ACH) deposits and withdrawals carry no fees, with deposits taking up to 5 business days and withdrawals 1 day on Robinhood's side. Wire deposits are free and typically arrive the same day, while wire withdrawals cost USD 25, except for Robinhood Concierge customers, for whom they are free. Debit card and real-time payment (RTP) deposits are free, and withdrawals by both rails cost 1.75%, with a minimum of USD 1 and a maximum of USD 150, and take up to 30 minutes. Limits are specific to each account and apply across all of a customer's Robinhood accounts. The Transfer types article carries the table of limits shown below.
| Method | Deposit limit | Withdrawal limit | Fee | Time to process |
|---|---|---|---|---|
| Standard bank transfer (ACH) | Up to USD 500k | Up to USD 250k | No fee either way | Deposits up to 5 business days; withdrawals 1 day on Robinhood |
| Wire | Unlimited | USD 50k to unlimited (varies) | Deposit free; withdrawal USD 25 (free for Robinhood Concierge) | Typically same day (withdrawals before 4 pm ET) |
| Debit card | Up to USD 25k | Up to USD 15k | Deposit free; withdrawal 1.75% (min USD 1 max USD 150) | Up to 30 minutes |
| Real-time payments (RTP) | Up to USD 25k | Up to USD 50k | Deposit free; withdrawal 1.75% (min USD 1 max USD 150) | Up to 30 minutes |
Source: Robinhood transfer types table, read 9 October 2026.
With a Robinhood Instant account you typically get instant access to up to USD 1,000 of buying power to trade crypto, and with Robinhood Gold, up to your Gold tier amount. Robinhood Gold costs USD 5 a month or USD 50 a year. Funds from stock, ETF and options sales become available for buying crypto within 3 business days. Crypto can be bought with buying power, bank transfers and, where applicable, debit card funding. Sale proceeds are available right away to buy stocks, options or more crypto, but withdrawing them to a bank follows the standard ACH settlement period of up to 5 business days. Crypto bought with instant funds can be transferred out after normal settlement times.
Crypto Transfers
Robinhood charges a USD 0 fee for crypto transfers, but every transfer needs a network fee that varies with network activity, according to Robinhood's crypto transfers article. Identity verification to enable transfers can take up to 5 business days. Transfers are final and cannot be reversed, even by Robinhood. Deposit limits for crypto are unlimited, and withdrawal limits depend on verification level and transaction history. The estimated network fee is shown before a transfer out and is added to the amount sent. Nothing extra is charged to receive crypto, and crediting an incoming transfer can take up to a few hours under ordinary conditions.
Is Robinhood Available in Australia?
FAQs
How much does Robinhood charge to buy crypto?
On market maker routing there is no fee, and 0.95% of the order goes to Robinhood Crypto inside the price. Exchange routing adds up to 0.95% (taker) or 0.50% (maker), falling with 30-day volume.
Can I cash out crypto on Robinhood?
Yes. You can sell the crypto for US dollars, then withdraw at no fee by standard bank transfer (ACH), or pay 1.75% (minimum USD 1, maximum USD 150) for an instant debit card or real-time payment withdrawal. Alternatively, send the coins to an external wallet, paying no Robinhood fee and only the network fee.
Is crypto on Robinhood protected by SIPC or FDIC?
No. Robinhood says crypto held through Robinhood Crypto, LLC has neither SIPC protection nor FDIC insurance, and Robinhood Crypto is not a SIPC member.
What does Robinhood Crypto's regulatory record show?
NYDFS lists Robinhood Crypto, LLC with licences granted January 2019 and fined it USD 30 million on 2 August 2022 over anti-money laundering and cybersecurity failures. The SEC (USD 45 million, 13 January 2025) and FINRA (USD 26 million, 7 March 2025) penalised Robinhood Securities LLC and Robinhood Financial LLC, two broker-dealers separate from Robinhood Crypto, LLC.
Does Robinhood publish a proof-of-reserves report?
We did not find one on 9 October 2026. Robinhood Markets, Inc.'s Form 10-Q reports USD 26.3 billion of crypto held for users on 30 June 2026, a figure covering all of Robinhood's platforms.
Robinhood does not accept residents of Australia under its published terms.
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