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Rocket Dollar offers a unique suite of alternative investment options beyond stocks and ETFs. A self-directed Rocket Dollar account unlocks investment opportunities including crowdfunding, startup lending, and real estate rental income. Find out if this self-directed platform is right for you in our full Rocket Dollar review.
Rocket Dollar
A fit for investors seeking alternative investments, including access to crowdfunding and real estate rental income. But it's not a great fit for investors wanting access to traditional stock, ETF, and mutual fund investments.
$350-$600 setup fee, $15-$30/mo
$0
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2024.
This broker is a good fit for: Traders seeking off-the-market opportunities with self-directed alternative investments.
Rocket Dollar simplifies the complexity of self-managed retirement accounts. It handles back-office documentation and connects users with preferred investment partners. The broker offers both self-directed IRAs and solo 401(k) accounts. As retirement accounts, a Rocket Dollar user's investment will grow tax-deferred (tax free with a Roth IRA). This means investors can save thousands of dollars in tax savings on high-yield investments.
With a self-directed retirement account, investors have the entire universe of IRS approved investments at their fingertips. These investments go far beyond the traditional stocks, bonds, and mutual funds. Some of the investment opportunities available to Rocket Dollar users include:
But what if your investment of choice isn’t available on the Rocket Dollar platform? Its team has you covered.
Self-directed investing can be tough without a support team. Luckily, Rocket Dollar's team can guide you through a wide range of situations, including bringing your own investments to the table. By working with the Rocket Dollar team, users can turn an unlisted deal into an investable opportunity.
For some traders, the investment opportunities presented by a self-directed account are well worth forgoing certain other investment accounts and asset types. For many, though, the lack of access to more traditional investment types is hard to ignore. Rocket Dollar does not allow traders to buy stocks, bonds, ETFs, mutual funds, options, CDs, and other traditional assets. Additionally, it does not support brokerage accounts, margin accounts, HSAs, or custodial accounts. Rocket Dollar is not designed for the average investor, instead catering to the experienced. Investors should perform due diligence before deciding whether self-directed investing is right for them.
The brokerage industry is in a race to the bottom when it comes to fees and commissions, which is why Rocket Dollar's $360 ($600 for Gold) upfront fee can give investors sticker shock. Even the $15 per month ($30 for Gold) fee is significantly higher than the few other brokers charging a subscription fee. Rocket Dollar may make opening and using a self-directed retirement account easier, but its price may be too steep for some users.
Rocket Dollar prides itself on not offering traditional investments, including stocks, mutual funds, or ETFs.
Rocket Dollar charges its users a one-time setup fee, followed by a recurring monthly fee. It offers two membership tiers, Silver and Gold. The Silver membership includes all of the features listed in this review. The Gold membership caters to investors seeking a whiteglove experience, and features priority support and a debit card for investment-related purchases. Rocket Dollar does not charge a commission fee.
Silver setup fee | $360 |
Silver monthly fee | $15 |
Gold setup fee | $600 |
Gold monthly fee | $30 |
Rocket Dollar's trading platform is incredibly simple, allowing users to view investment balances. The broker's IRA as a Service (IRaaS) platform is available on desktop only. Because many of the alternative investments available to users are not traded on exchanges, the platform doesn't include transaction controls.
While Rocket Dollar's self-directed 401(k) accounts allow for loans, users cannot borrow margin as they can with other brokers.
Because Rocket Dollar does not offer traditional investments, it doesn't offer traditional research reports. However, there are a variety of resources available on the broker's website, including guides, webinars, and eBooks for the less experienced investor.
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Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
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Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
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