What are the hidden fees associated with trading cryptocurrencies on Robinhood?

4 answers

• Dec 17, 2021 · 3 years ago
  Yes, there are hidden fees associated with trading cryptocurrencies on Robinhood. While Robinhood offers commission-free trading, they make money through a practice called payment for order flow. This means that when you place a trade, Robinhood sells your order to a market maker who executes the trade on your behalf. The market maker pays Robinhood for the order, and this payment can result in a small difference between the price you see on Robinhood and the actual execution price. Additionally, Robinhood charges fees for certain transactions, such as cryptocurrency transfers to external wallets. It's important to carefully review Robinhood's fee schedule to understand all the potential costs involved in trading cryptocurrencies on their platform.
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• Dec 17, 2021 · 3 years ago
  Oh boy, hidden fees! The bane of every trader's existence. Well, when it comes to trading cryptocurrencies on Robinhood, you should know that there are indeed some sneaky fees lurking in the shadows. While they may advertise commission-free trading, Robinhood actually makes money by selling your order to a market maker. And guess what? That market maker pays Robinhood for the privilege, which can result in a slightly higher execution price for you. On top of that, they also charge fees for certain transactions, like transferring your crypto to an external wallet. So, make sure you read the fine print and understand all the potential costs before you dive into the world of crypto trading on Robinhood!
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• Dec 17, 2021 · 3 years ago
  Ah, the hidden fees associated with trading cryptocurrencies on Robinhood. It's a topic that often raises eyebrows. While Robinhood prides itself on offering commission-free trading, they do have some tricks up their sleeve. You see, when you place a trade, Robinhood actually sells your order to a market maker. And guess what? They get paid for it! This payment for order flow can result in a slight difference between the price you see on Robinhood and the actual execution price. Sneaky, right? But hey, at least you're not paying those pesky commissions, right? Just keep in mind that Robinhood also charges fees for certain transactions, like transferring your crypto to an external wallet. So, be sure to read the fine print and watch out for those hidden costs!
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• Dec 17, 2021 · 3 years ago
  When it comes to trading cryptocurrencies on Robinhood, hidden fees are a thing. While Robinhood claims to offer commission-free trading, they actually make money through payment for order flow. This means that when you place a trade, Robinhood sells your order to a market maker who executes the trade on your behalf. The market maker pays Robinhood for the order, and this can result in a small difference between the price you see on Robinhood and the actual execution price. It's important to note that Robinhood also charges fees for certain transactions, such as transferring your crypto to an external wallet. So, make sure you're aware of these hidden fees before you start trading on Robinhood.
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