Robinhood recently announced Robinhood Instant, which gives you "instant access to deposits and immediate access to your funds after selling stocks." This also means that there is no longer a T+3 waiting period after selling securities.
While we highly recommend reading the full documentation, here are a few highlights about Robinhood Instant:
Instant Deposits - Bank transfers up to $1,000 into Robinhood are now
instantly available for investing. No more waiting for your funds to
land in your account anymore.
Instant Access to Funds - Proceeds from a sale are now immediately
available to reinvest. Previously, if you sold stock, you had to wait
three days for your funds to settle in your account before you could
use the proceeds to purchase more stock.
Robinhood Instant is Free - We believe Robinhood Instant will be
powerful for all kinds of investors, so we made it free. That’s right:
no monthly or recurring fees, no trading commissions, no interest
charges, and no account minimums.
Notes/FAQ For Live Traders
- Robinhood Instant is powered by a limited margin account type, this means that you will not be subject to the "free ride" rule that applies to cash accounts.
- Robinhood Instant is subject to pattern day trading rules. Please insure that your algorithm accounts for pattern day trading rules before attempting to live trade it. As a safeguard, your order will be rejected if it's attempting to place an order that will designate you as a pattern day trader.
Attached is an updated sample algorithm that's geared for live trading with Robinhood Instant. The main difference between this version and the original algorithm is that this updated version does not check for unsettled funds. For full details on the strategy or Quantopian's integration with Robinhood, check out the original thread.
|Returns||1 Month||3 Month||6 Month||12 Month|
|Alpha||1 Month||3 Month||6 Month||12 Month|
|Beta||1 Month||3 Month||6 Month||12 Month|
|Sharpe||1 Month||3 Month||6 Month||12 Month|
|Sortino||1 Month||3 Month||6 Month||12 Month|
|Volatility||1 Month||3 Month||6 Month||12 Month|
|Max Drawdown||1 Month||3 Month||6 Month||12 Month|