Robinhood vs Fidelity Statistics 2026: Accounts, AUM, and Fees Compared

Robinhood reported 27.4 million funded customers and $307 billion in total platform assets in the first quarter of 2026, while Fidelity Investments administered $18.0 trillion in assets across its businesses at the end of 2025. Those two figures sit in different universes, and the gap is the point. The data below maps every comparable metric the two firms disclose, from accounts and assets to trading volumes and revenue, and flags where the comparison breaks down because one company is public and the other is not.

Key Takeaways

• Robinhood ended Q1 2026 with 27.4 million funded customers and 29.1 million investment accounts, both up at least 6% year over year.
• Fidelity administered $18.0 trillion in assets and managed $7.1 trillion at the close of 2025, a scale roughly 58 times Robinhood’s $307 billion in platform assets.
• Robinhood’s average revenue per user reached $157 in Q1 2026, a per-account economics figure Fidelity does not publicly disclose.
• Fidelity’s retirement franchise spans more than 53 million IRA, 401(k), and 403(b) accounts, including 24.8 million 401(k) participants.
• Robinhood is a public SEC filer (NASDAQ: HOOD); Fidelity is privately held, with the Johnson family owning roughly 40%, so the two report on entirely different terms.
• Robinhood generated $1.07 billion in quarterly revenue while Fidelity posted $37.7 billion for the full year 2025.
• Robinhood Gold subscribers hit 4.3 million in Q1 2026, up 36% year over year.

Editor’s Choice

• Fidelity’s full-year 2025 revenue reached $37.7 billion, up 15% year over year.
• Robinhood’s Q1 2026 total platform assets climbed 39% year over year to $307 billion.
• Fidelity managed $7.1 trillion in discretionary assets at the end of 2025.
• Robinhood processed $638 billion in equity notional trading volume in Q1 2026 alone.
• Fidelity averaged 4.4 million daily trades across 2025, up 31% year over year.
• Robinhood’s trailing-twelve-month net deposits totaled $67.8 billion through Q1 2026.
• Fidelity’s net asset flows reached $657.3 billion for the full year 2025.

Robinhood vs Fidelity: Assets at a Glance

Robinhood reported total platform assets of $307 billion in Q1 2026, up 39% year over year. Fidelity reported assets under administration of $18.0 trillion at the end of 2025, up 19% year over year, and managed assets of $7.1 trillion, also up 19%. Fidelity’s administered assets are roughly 58 times Robinhood’s platform assets, a gap that reflects different business models rather than a head-to-head size race.

• Robinhood held $307 billion in total platform assets at the end of Q1 2026.
• Fidelity administered $18.0 trillion in assets at year-end 2025.
• Fidelity managed $7.1 trillion in discretionary assets, up 19% year over year.
• Robinhood’s platform assets grew 39% year over year.
• The two firms occupy different rungs of the investing ladder: Robinhood is a self-directed brokerage app, while Fidelity is a full-service asset manager and retirement recordkeeper.

Source: Robinhood Investor Relations, Fidelity Investments

Worth noting: Robinhood discloses platform assets under SEC reporting rules, while Fidelity’s $18.0 trillion administered figure is a company-stated number from its 2025 annual report rather than an audited SEC filing. The two scales are accurate but not strictly comparable, because they measure different things under different disclosure regimes.

Robinhood Revenue Mix

Robinhood’s total net revenue increased 15% year over year to $1.07 billion in Q1 2026. Transaction-based revenue rose 7% year over year to $623 million, the company’s largest revenue stream. The mix splits across trading, interest, and subscriptions in a way Fidelity’s private fact sheets never break out at this granularity.

• Transaction-based revenue reached $623 million in Q1 2026, up 7% year over year.
• Net interest revenue increased 24% year over year to $359 million.
• Other revenue rose 57% year over year to $85 million, primarily driven by Robinhood Gold subscription revenue.
• Options revenue within the transaction line reached $260 million, up 8% year over year.
• Cryptocurrency revenue was $134 million, down 47% year over year.

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Recent Developments

• Robinhood reported its Q1 2026 results on April 28, 2026, posting $1.07 billion in revenue, up 15% year over year.
• In March 2026, Robinhood’s board refreshed its share repurchase authorization to $1.5 billion.
• Robinhood’s retirement assets under custody reached a record $27.4 billion in Q1 2026, up 90% year over year.
• Robinhood Chain’s public testnet processed over 100 million transactions by Q1 2026.
• Fidelity’s 2025 annual report, covering the year ended December 31, 2025, recorded $37.7 billion in revenue and $18.0 trillion in administered assets.
• Fidelity’s Q4 2025 retirement analysis, dated December 31, 2025, covered more than 53 million retirement accounts.

Robinhood Trading Volumes

Robinhood’s equity notional trading volume increased 54% year over year to $638 billion in Q1 2026. Options contracts traded rose 17% year over year to 586 million. These volumes flow through a single retail brokerage app, a structure that contrasts sharply with Fidelity’s diversified trading desk.

• Equity notional trading volume reached $638 billion in Q1 2026, up 54% year over year.
• Options contracts traded totaled 586 million, up 17% year over year.
• Crypto notional trading volume was $66 billion, including $24 billion on the Robinhood app and $42 billion on Bitstamp.
• Robinhood-app crypto notional volume decreased 48% year over year to $24 billion.
• Event contracts traded reached a record 8.8 billion in Q1 2026.

For a wider view of how Robinhood’s trading mix compares against a crypto-native venue, the Robinhood vs Coinbase data tracks the same notional-volume lines against an exchange built for digital assets.

Robinhood Funded Customers and Account Growth

Robinhood’s funded customers increased by 1.7 million, or 6%, year over year to 27.4 million in Q1 2026. Investment accounts grew by 2.1 million, or 8%, year over year to 29.1 million. These are the cleanest account counts in the comparison, because Robinhood is required to define and disclose them consistently each quarter.

• Funded customers reached 27.4 million, up 1.7 million year over year.
• Investment accounts reached 29.1 million, up 2.1 million year over year.
• Robinhood Banking crossed over $2 billion in deposits from over 125,000 funded customers.
• Robinhood Strategies grew to over 285,000 funded customers with over $1.6 billion in assets under management.
• The Robinhood Gold Card crossed 800,000 funded customers.

By the numbers: Robinhood added 1.7 million funded customers year over year to reach 27.4 million in Q1 2026, alongside 29.1 million investment accounts, per the company’s investor relations disclosures. The standardized SEC definition behind these counts is exactly what makes them comparable across quarters, and exactly what Fidelity’s private reporting lacks.

The broader retail-trading shift these numbers sit inside shows up across the retail investing data tracked on our pillar page.

Fidelity Assets Under Administration Growth

Fidelity reported assets under administration of $15.0 trillion in Q1 2025, up 10% year over year. By Q3 2025, administered assets reached $17.5 trillion, up 17% year over year. The figure closed 2025 at $18.0 trillion, up 19% year over year. The trajectory shows steady accumulation across a single year.

• Q1 2025 assets under administration: $15.0 trillion, up 10% year over year.
• Q3 2025 assets under administration: $17.5 trillion, up 17% year over year.
• Year-end 2025 assets under administration: $18.0 trillion, up 19% year over year.
• Discretionary assets reached $6.8 trillion in Q3 2025, up 18% year over year.
• Fidelity’s retail advisory solutions crossed $1.0 trillion in assets under management in 2025.

Fidelity Retirement Account Base

Fidelity’s Q4 2025 retirement analysis is based on more than 53 million IRA, 401(k), and 403(b) retirement accounts. Its 401(k) data covers 24.8 million participants, with an average balance of $146,400. This recordkeeping base is the closest Fidelity comes to publishing account counts, and it dwarfs Robinhood’s funded-customer total.

• Fidelity analyzed more than 53 million IRA, 401(k), and 403(b) retirement accounts as of December 31, 2025.
• Fidelity’s 401(k) data covered 24.8 million participants, with an average balance of $146,400.
• Fidelity’s IRA data covered 18.9 million IRA accounts, with an average balance of $137,095.
• Fidelity’s 403(b) data covered 9.36 million plan participants, with an average balance of $133,500.
• Fidelity leads the Individual Retirement Account category with 23% market share.

Why it matters: Fidelity’s 24.8 million 401(k) participants and 18.9 million IRA accounts represent an institutional recordkeeping franchise rather than a self-directed trading base, per the firm’s Q4 2025 retirement analysis. Those accounts arrive through employers and advisors, a fundamentally different acquisition channel than the app-download funnel behind Robinhood’s funded-customer base.

Robinhood Account Economics: ARPU and Gold

Robinhood’s average revenue per user increased 8% year over year to $157 in Q1 2026. Robinhood Gold subscribers grew by 1.2 million, or 36%, year over year to 4.3 million. The paid-subscription layer is central to how Robinhood monetizes accounts, and it has no disclosed Fidelity equivalent.

• Average revenue per user reached $157, up 8% year over year.
• Robinhood Gold subscribers reached 4.3 million, up 36% year over year.
• Robinhood Gold subscription revenue within other revenue reached $50 million, up 32% year over year.
• Cash and cash equivalents totaled $5.0 billion, up from $4.4 billion a year earlier.
• Net income increased 3% year over year to $346 million.

How this per-account model compares against another app-first broker shows up in the SoFi vs Robinhood data, where membership economics drive a similar monetization debate.

Robinhood Crypto and Retirement AUC

Robinhood’s retirement assets under custody increased 90% year over year to a record $27.4 billion in Q1 2026. Crypto notional trading volume reached $66 billion in the quarter. Fidelity’s public fact sheets carry no equivalent self-directed crypto-trading line, so the crypto comparison lives almost entirely on the Robinhood side.

• Robinhood Retirement AUC reached a record $27.4 billion, up 90% year over year.
• Margin book increased 93% year over year to a record $17.0 billion.
• Cash and deposits increased 71% year over year to $16.7 billion.
• Cash sweep balances decreased 8% year over year to $26.0 billion.
• Robinhood Chain’s public testnet processed over 100 million transactions.

By the numbers: Robinhood’s retirement assets under custody jumped 90% year over year to a record $27.4 billion while crypto notional volume reached $66 billion in Q1 2026, per the company’s investor relations data. Both lines are standard quarterly disclosures, illustrating the breadth of activity Robinhood is required to report and Fidelity is not.

Fidelity Revenue and Operating Scale

Fidelity reported full-year 2025 revenue of $37.7 billion, up 15% year over year. Operating income reached $12.7 billion, up 24% year over year. At roughly 35 times Robinhood’s quarterly revenue annualized, Fidelity’s operating scale reflects a far larger and more diversified institution.

• Fidelity’s full-year 2025 revenue reached $37.7 billion, up 15% year over year.
• Operating income reached $12.7 billion, up 24% year over year.
• Operating expense reached $24.9 billion, up 11% year over year.
• Managed assets reached $7.1 trillion, up 19% year over year.
• Fidelity employed 80,000 people in 2025 and manages employee benefit programs for more than 28,800 businesses.

Worth noting: Fidelity’s headcount of 80,000 and its more than 28,800 employer benefit programs underscore an operating footprint built around institutional service, per company disclosures. Robinhood, by contrast, has historically emphasized a lean organizational structure, which our Robinhood headcount breakdown documents in detail.

Public vs Private: How the Two Companies Report

Robinhood Markets trades on the NASDAQ under the ticker HOOD and reports standardized quarterly metrics such as funded customers, average revenue per user, and net deposits. Fidelity Investments is privately held, with Abigail Johnson and family owning a roughly 40% interest and the remainder owned by current and former executives. The reporting gap shapes every comparison in this analysis.

• Robinhood discloses funded customers, investment accounts, ARPU, and net deposits each quarter.
• Fidelity is privately held and not a publicly traded company.
• Abigail Johnson and family own roughly 40% of Fidelity, with the remainder held by current and former executives.
• Fidelity’s public figures, such as $18.0 trillion in assets under administration, come from its own annual report rather than a regulatory filing.
• The practical effect is that Robinhood publishes a funded-customer count Fidelity has no obligation to match, so any account-for-account comparison rests on figures defined differently.

The takeaway: One firm reports to the SEC on a fixed schedule with standardized definitions; the other reports on its own terms when it chooses to. That asymmetry is why a clean side-by-side of accounts and assets requires constant caveats.

Net Deposits and Asset Flows Compared

Robinhood reported net deposits of $17.7 billion in Q1 2026, an annualized growth rate of 22%. Fidelity reported net asset flows of $657.3 billion for the full year 2025, down 6% year over year. Both metrics measure new money, but across different time frames and definitions.

• Robinhood’s Q1 2026 net deposits were $17.7 billion, a 22% annualized growth rate.
• Robinhood’s trailing-twelve-month net deposits totaled $67.8 billion, a 31% growth rate.
• Fidelity’s full-year 2025 net asset flows reached $657.3 billion, down 6% year over year.
• Robinhood’s share repurchase authorization was refreshed to $1.5 billion in March 2026.
• Robinhood’s adjusted EBITDA increased 14% year over year to $534 million.

Robinhood and Fidelity Daily Trading Activity

Fidelity averaged 4.4 million daily trades across 2025, up 31% year over year. Robinhood reported a record 8.8 billion event contracts traded in Q1 2026. The two firms report activity in incompatible units, which is itself a data point about how differently they operate.

• Fidelity’s daily average trades reached 4.4 million in 2025, up 31% year over year.
• Fidelity reported 4.5 million daily average trades in Q1 2025, up 32% year over year.
• Fidelity logged 10.1 million customer planning interactions in 2025, up 19% year over year.
• Fidelity recorded 43.4 million unique website and app visitors in 2025, up 7% year over year.
• Robinhood’s event contract trades reached a record 8.8 billion in Q1 2026.

Is Robinhood bigger than Fidelity?

Robinhood is not bigger than Fidelity by any asset measure. Robinhood held $307 billion in total platform assets in Q1 2026, while Fidelity administered $18.0 trillion in assets at the end of 2025. That places Fidelity at roughly 58 times Robinhood’s scale. The two are different categories of company, though: Robinhood is a self-directed brokerage app, while Fidelity is a full-service asset manager and retirement recordkeeper, so the size gap reflects business model more than market position.

Is Fidelity publicly traded?

Fidelity is not publicly traded. Fidelity Investments is privately held, with Abigail Johnson and family owning a roughly 40% interest and the remainder owned by current and former executives. Because it is private, Fidelity files no SEC quarterly reports and instead publishes company-curated business updates.

Robinhood, by contrast, trades on the NASDAQ under the ticker HOOD and discloses standardized metrics each quarter. That difference is why this comparison leans on Robinhood’s audited line items and Fidelity’s voluntary fact sheets.

Conclusion

The headline numbers tell two stories at once. Robinhood’s 27.4 million funded customers, $307 billion in platform assets, and $157 average revenue per user describe a fast-growing, app-first brokerage that monetizes self-directed retail traders. Fidelity’s $18.0 trillion in administered assets, $7.1 trillion in managed assets, and $37.7 billion in 2025 revenue describe an institutional asset manager and recordkeeper operating at a different order of magnitude.

The most useful takeaway is the one the raw figures obscure: the two companies are not measured on the same yardstick. Robinhood reports under SEC rules with standardized definitions, while Fidelity reports privately on its own terms. Readers comparing the two should weigh the disclosure regime alongside the numbers, because a funded-customer count and an administered-asset total answer entirely different questions about scale.