--- title: "Robinhood vs Fidelity Statistics 2026: Accounts, AUM, and Fees Compared" date: 2026-06-24 author: "Barry Elad" featured_image: "https://coinlaw.io/wp-content/uploads/2026/06/robinhood-vs-fidelity-statistics.jpg" categories: - name: "Investments" url: "/investments.md" tags: - name: "Statistics" url: "/tag/statistics.md" --- # 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](https://coinlaw.io/robinhood-statistics/) ended Q1 2026 with **27.4 million** funded customers and **29.1 million** investment accounts, both up at least 6% year over year. - [Fidelity](https://coinlaw.io/fidelity-statistics/) 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. Metric (as of latest report)Robinhood (Q1 2026)Fidelity (FY 2025)Total platform / administered assets$307 billion$18.0 trillionDiscretionary / managed assetsNot a primary disclosure$7.1 trillionReporting statusPublic (NASDAQ: HOOD)Privately heldYear-over-year asset growth39%19%*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](https://coinlaw.io/cryptocurrency-statistics/) revenue was **$134 million**, down **47%** year over year. Revenue stream by Q1 2026 ($ millions) Q1 2026 ($ MILLIONS) · Q1 2026 ($ millions) · Source: Robinhood Investor Relations 2026 Q1 2026 ($ MILLIONS) · COINLAW ANALYSIS Revenue stream by Q1 2026 ($ millions) Q1 2026 ($ millions) Robinhood Investor · 2026 58% TRANSACTION-BASED Transaction-based 58% Net interest 34% Other (incl. Gold) 8% SOURCE Robinhood Investor Relations 2026 ## 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](https://coinlaw.io/bitstamp-statistics/). - Robinhood-app crypto notional volume decreased **48%** year over year to **$24 billion**. - Event contracts traded reached a record **8.8 billion** in Q1 2026. Trading category by Q1 2026 notional volume ($ billions) Q1 2026 NOTIONAL VOLUME ($ BILLIONS) · Q1 2026 notional volume ($ billions) · Source: see article table. Q1 2026 NOTIONAL VOLUME ($ BILLIONS) · COINLAW ANALYSIS Trading category by Q1 2026 notional volume ($ billions) Q1 2026 notional volume ($ billions) 1K 750 500 250 0 638 Equity 66 Crypto (total) 24 Crypto (Robinhood app) SOURCE see article table. For a wider view of how Robinhood’s trading mix compares against a crypto-native venue, the [Robinhood vs Coinbase data](https://coinlaw.io/robinhood-vs-coinbase-statistics/) 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](https://coinlaw.io/retail-investing-statistics/) 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 **$1.0 trillion** in assets under management in 2025. Period (2025) by Assets under administration ($ trillions) ASSETS UNDER ADMINISTRATION ($ TRILLIONS · Assets under administration ($ trillions) · Source: see article table. ASSETS UNDER ADMINISTRATION ($ TRILLIONS · COINLAW ANALYSIS Period (2025) by Assets under administration ($ trillions) Assets under administration ($ trillions) 20 15 10 5 0 15.0 Q1 17.5 Q3 18.0 Q4 SOURCE see article table. ## 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. Retirement vehicleAccounts / participantsAverage balance401(k)24.8 million$146,400IRA18.9 million$137,095403(b)9.36 million$133,500> **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](https://coinlaw.io/sofi-vs-robinhood-statistics/), 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](https://coinlaw.io/how-many-people-work-at-robinhood/) 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.