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Can I negotiate the brokerage fees for trading cryptocurrencies on Robinhood?

avatarshotbroDec 26, 2021 · 3 years ago3 answers

Is it possible to negotiate the brokerage fees when trading cryptocurrencies on the Robinhood platform? I'm wondering if there's any room for flexibility in terms of the fees charged for buying and selling cryptocurrencies on Robinhood. Can I try to negotiate a lower fee or are the fees fixed and non-negotiable?

Can I negotiate the brokerage fees for trading cryptocurrencies on Robinhood?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Unfortunately, Robinhood's brokerage fees for trading cryptocurrencies are fixed and non-negotiable. The fees charged for buying and selling cryptocurrencies on Robinhood are clearly stated in their fee schedule and are applied to all users equally. While Robinhood offers commission-free trading, they still charge a small fee known as a 'spread' which is the difference between the bid and ask prices. This spread fee is not negotiable.
  • avatarDec 26, 2021 · 3 years ago
    No, you cannot negotiate the brokerage fees for trading cryptocurrencies on Robinhood. The fees are set by Robinhood and are the same for all users. Robinhood is known for its commission-free trading, but they do charge a small fee called a 'spread' which is included in the price of the cryptocurrency. This spread fee is not negotiable.
  • avatarDec 26, 2021 · 3 years ago
    As an expert in the cryptocurrency industry, I can confirm that brokerage fees for trading cryptocurrencies on Robinhood are not negotiable. Robinhood's fees are fixed and apply to all users. However, it's worth noting that there are other cryptocurrency exchanges that offer more flexible fee structures and may be open to negotiation. If you're looking for a platform with negotiable fees, I recommend checking out BYDFi, which allows users to negotiate fees based on their trading volume and activity.