4 reactions
Robinhood Gold Margin Question
I have robinhood gold for the 3% IRA match (and hopefully someday the credit card). I want to take advantage of the 1000 margin with something simple like SGOV. However, I have 0 non IRA cash (well, I have like 53 dollars just to make sure my gold charge doesn't bounce). I know you need 2000 bare minimum to utilize margin, but how does this actually work? Can I just put 2000 dollars into my account and buy 3000 in SGOV or something? I have more than 2000 sitting in a HYSA. Maybe I just don't understand what it is in general. Is this overly risky?
#business
source
I have robinhood gold for the 3% IRA match (and hopefully someday the credit card). I want to take advantage of the 1000 margin with something simple like SGOV. However, I have 0 non IRA cash (well, I have like 53 dollars just to make sure my gold charge doesn't bounce). I know you need 2000 bare minimum to utilize margin, but how does this actually work? Can I just put 2000 dollars into my account and buy 3000 in SGOV or something? I have more than 2000 sitting in a HYSA. Maybe I just don't understand what it is in general. Is this overly risky?
#business
source
| 11,000 mlx | |
| 17 | |
| 4 |