Robinhood does not offer futures trading
Robinhood does not let you trade futures contracts — agreements to buy or sell a commodity, index, or currency at a set price on a future date. The platform offers stocks, exchange-traded funds (ETFs), options, and cryptocurrencies, but not futures.
If you want to trade futures, you will need to open an account with a different broker. Futures brokers include TD Ameritrade's thinkorswim platform, Interactive Brokers, E-TRADE Futures, Tastytrade, and Lightspeed. Each has different account minimums, fee structures, and margin requirements.
Robinhood's decision to exclude futures reflects its business model: the platform targets newer investors and charges no commission on stock and options trades. Futures trading requires more regulatory oversight, higher capital reserves, and more complex risk management — costs Robinhood has chosen not to absorb.
Key Takeaways
- Robinhood does not offer futures contracts of any kind, including index futures, commodity futures, or currency futures.
- You can trade options on Robinhood, which are different from futures and do not require a separate broker.
- Futures brokers like TD Ameritrade's thinkorswim, Interactive Brokers, and E-TRADE Futures are alternatives if you specifically need futures access.
- Futures trading typically requires a higher account minimum and more experience than stock or options trading.
What Robinhood does offer instead of futures
Robinhood lets you trade options, which are sometimes confused with futures but work differently. An option gives you the right — but not the obligation — to buy or sell a stock at a set price by a certain date. You can trade options on individual stocks and some ETFs through Robinhood's options trading feature, which requires you to request options access and pass a brief questionnaire about your experience.
Options and futures both let you control a large position with a small amount of money, and both can move quickly. But options expire worthless if you do not use them, while futures contracts must be settled on the expiration date. Options also have a defined maximum loss (the premium you paid), while futures losses can exceed your initial investment.
If you are interested in leveraged exposure to broad market movements, Robinhood also offers fractional shares and margin trading. Margin lets you borrow money from Robinhood to buy stocks or options, though this also carries the risk of losses larger than your deposit.
Why futures require a different broker
Futures are regulated by the Commodity Futures Trading Commission (CFTC), not the Securities and Exchange Commission (SEC), which oversees stock and options brokers. CFTC rules require futures brokers to maintain higher capital reserves and carry different insurance than stock brokers. These regulatory costs are passed to customers through account minimums and fees.
Most futures brokers require a minimum account balance of $2,000 to $5,000 to open an account, and some require $10,000 or more to trade certain contracts. Robinhood's model of zero-commission trading and low account minimums does not extend to futures because the regulatory structure does not allow it.
Futures also trade on exchanges — the Chicago Mercantile Exchange (CME), the Intercontinental Exchange (ICE), and others — rather than through a broker's internal system. This adds another layer of complexity and cost that Robinhood has not integrated into its platform.
Types of futures you cannot trade on Robinhood
Index futures track broad market indexes like the S&P 500 (ES contract) or Nasdaq-100 (NQ contract). These are popular with traders who want exposure to the whole market without buying individual stocks.
Commodity futures cover oil, natural gas, gold, wheat, and other raw materials. These contracts are used by both speculators and companies that need to lock in prices for materials they buy or sell.
Currency futures let you trade the value of one currency against another — the euro against the dollar, for example. These are less common for individual traders but available through most futures brokers.
Treasury futures track U.S. government bonds and notes. These are used to bet on interest rate movements or hedge bond holdings.
How to trade futures if you leave Robinhood
If you decide you need futures access, you will open a separate account with a futures broker. You do not have to close your Robinhood account — you can keep both open at the same time.
The process process is similar to opening a Robinhood account: you provide your name, address, Social Security number, employment information, and investment experience. Futures brokers ask more detailed questions about your experience and investment goals because futures carry higher risk.
Once your account is approved, you will fund it by transferring money from your bank. Most futures brokers let you start trading when ready after the transfer clears, though some require a waiting period. You will then place orders through the broker's trading platform, which typically has more advanced charting and analysis tools than Robinhood.
Keep in mind that futures trading happens during specific market hours. Index and Treasury futures trade nearly 24 hours a day, but commodity and currency futures have set trading windows. Your broker's platform will show you when each contract is open for trading.
Comparing Robinhood to futures-enabled brokers
| Feature | Robinhood | TD Ameritrade (thinkorswim) | Interactive Brokers | E-TRADE Futures |
|---|---|---|---|---|
| Futures trading | No | Yes | Yes | Yes |
| Stock trading | Yes, commission-free | Yes, commission-free | Yes, commission-free | Yes, commission-free |
| Options trading | Yes, commission-free | Yes, commission-free | Yes, commission-free | Yes, commission-free |
| Minimum account balance | $0 | $0 | $0 | $0 |
| Minimum to trade futures | N/A | $2,000 | $10,000 | $2,000 |
| Futures commissions per contract | N/A | $2.25 to $5 | $0.85 to $2 | $2.25 to $5 |
Frequently Asked Questions
Can I trade micro futures on Robinhood?
No. Micro futures are smaller versions of standard futures contracts (for example, a micro S&P 500 contract is one-tenth the size of a standard contract), but they are still futures and still require a futures broker. Robinhood does not offer any futures products.
Does Robinhood have any products that track futures prices?
Robinhood does not offer futures-tracking ETFs directly, but you can buy ETFs that hold futures contracts through Robinhood. For example, you can buy the Direxion Daily S&P 500 Bull 3X Shares (SPXL), which uses futures to track three times the daily movement of the S&P 500. These are leveraged ETFs and carry higher risk than standard index funds.
If I trade options on Robinhood, am I trading futures?
No. Options and futures are different products with different rules, expiration dates, and risk profiles. Options give you the right to buy or sell at a set price; futures require you to buy or sell at a set price on the expiration date. You can trade options on Robinhood without needing a separate broker.
What is the easiest futures broker for beginners?
TD Ameritrade's thinkorswim platform and Tastytrade are often recommended for beginners because they have lower account minimums ($2,000) and educational resources. Interactive Brokers has lower commissions but a higher minimum ($10,000). Start by comparing the account minimums and commissions on the contracts you want to trade.