Opened ROTH and TRAD IRA accounts. Account opening was super fast. Like 2 minutes for both. Now getting ready to transfer money.
Since source accounts are also IRAs selling has no tax implications.
Is it better to transfer equities as is or should we sell at source, transfer cash to RH and start again in a fresh set of ETFs at RH?
The only difference is that youāll miss out on any market moves while the cash is being transferred. Which could end up being good or bad.
I was also concerned about the cash positions in sweep funds being able to transfer properly. Cash in my Fidelity IRAs would have effectively been in money market mutual funds (SPRXX). Seemed safer to have money in ETFs (even if near cash ones like USFR, TFLO, SGOV) before transferring.
To enable the margin you need $2K in securities. So adding $2K cash to the account should allow you to invest $3K (your 2K plus margin 1K) in a treasury fund that currently pays ~$13 in monthly dividends, more than enough to cover Gold. Yes?
Or will something happen to the borrowed $1K when the dividend is paid? I dunno Iāve never traded on margin before.
I donāt know, Iāve never done margin eitherā¦but you also canāt have any cash if you have margin because cash pays down the margin. I thought peopele were doing like $940 in SGOV so that the fee would be paid out of the 0% margin.
My problem with this is that I donāt want to test that hypothesis and risk losing the 2% extra match on the transfers I made because gold gets cancelled within the first 12 months.
But I might test that once that 12-month period of gold membership is over.
A new feature is ācoming soonā for RH Gold ā 1% unlimited match on all cash deposits into taxable brokerage account, split into 24 monthly payments. Mentioned here.
and to be clear, itās only cash deposits, not transferred securities. They want to make money off your trades, not pay you for what you already own. 
Jokeās on them if I just want to use them as a HYS account
Why do you want to use them as a HYS?
Because the 5% APY on cash plus the extra 0.5%/yr match would make it nearly the best. I might also buy some state-tax-exempt treasury-only fund for even more yield.
Anyone know what Robinhood pays for uninvested cash in an IRA? I think the 5% is only for individual brokerage accounts (with Gold) in the cash sweep program, it doesnāt apply to IRAs. And I donāt see an option to set or change the IRA cash settlement fund like I see on Vanguard and Fidelity. Iām guessing Iād have to buy an ETF like USFR or SGOV as mentioned upthread.
I donāt think uninvested cash in IRA earns anything at all at Robinhood. Only in their brokerage as far as Iāve read. The short-term treasury ETFs are about as good as cash though. And theyāll earn more for at least a while longer than even uninvested cash in brokerage with Gold membership (5%).
I asked RH support about paying for Gold with margin enabled. The answer was that the monthly fee would simply increase the amount of margin owed.
I also asked about changing from monthly to annual, which would remove all worry about the monthly fee for the first year. I learned that annual subs are only available to some accounts right now and should be rolled out to all in the future. I was also told that the subscription would be changed to annual automatically when you get the credit card.
It all sounds reasonable, though no guarantees unless and until someone actually confirms it .
Confirmed. Bought ~$990 on margin, monthly fee taken out of remaining, now margin is ~$995. Also saw other confirmations on reddit regarding the switch to annual with the credit card, so Iāll have to sell ~$40 to cover it (unless it takes 4 months for my turn on the waitlist and the dividends cover it).
So does the monthly fee decrease the available margin by $5 each month or the annual amount if you do annual?
And does that only work if the cash balance is $0?
Yes.
You canāt have both ā adding cash (or receiving dividends or interest) reduces the margin balance. Margin implies no cash, but you can keep spending/borrowing up to your margin limit.
Has anybody gotten the credit card yet?
Nope. Still wait-listed. Someone realized how much itād cost and cut the damage before it was too extensive I think.