Trading Becomes More Accessible with Morningstar Data Through Robinhood Gold

The 21st century has witnessed a dramatic shift when it comes to trading and investing. Gone are the days of only the wealthy investing through management firms and funds that are largely inaccessible. Today, the world of trading has opened up thanks to the advent of modern technology. Then the global pandemic hit and retail trading has only skyrocketed. During the pandemic, interest in the stock market soared, and meme stocks garnered national attention. Retail investors are taking the world by storm.

But this evolution begs the question that if everyone can invest in the market now, what differentiates a good trader from an average or uninformed one? The answer includes many factors, but one is undeniably critical – credible research and data analysis. Luckily for investors, there are tools like Morningstar that provide unbiased research and ratings on various investment products like stocks and ETFs. The popular trading app Robinhood provides access to NASDAQ Level 2 data and Morningstar with its Robinhood Gold subscription platform. Not to mention Robinhood Gold is less than $10/month with all associated subscription fees; in comparison, if you were to only get a Morningstar subscription, it is typically $249/year.

In addition to access to valuable insights with Morningstar and NASDAQ Level 2 data, Robinhood Gold subscribers have the opportunity to earn a 5% annual percentage yield (APY) on uninvested brokerage cash with the cash sweep program. This means that any cash sitting idle in your brokerage account will be automatically swept into a program that earns you interest. This new rate is 8x higher than the national average savings rate – based on data from Bankrate as of March 1, 2024. In other words, you can earn money while you sleep.

Robinhood Gold also offers margin investing at a lower rate of 8% with the first $1,000 of margin borrowing being interest-free, which allows eligible users to borrow funds and increase their potential returns on investments. Non-subscribers pay a higher margin rate of 12%. Additionally, Robinhood Gold subscribers can even receive a 3% IRA match on eligible contributions to their Robinhood IRA accounts.

Apart from margin investing, Robinhood Gold provides a range of advanced tools and benefits that enhance an individual's investing experience. These include higher interest rates on uninvested cash, instant deposits, access to professional research and market data and a suite of features catering to both short-term investments and long-term retirement planning. For people who want a holistic experience on all things trading, Robinhood Gold seems to have a full suite of resources readily available.

Robinhood Gold is also releasing a Robinhood Gold credit card that is exclusive to Gold subscribers with 3% cash back across the board. To join the waitlist, click here.

Featured photo by Inside Creative House on Shutterstock.

Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.