Highlights  

  • Robinhood ended November with 26.9 million funded customers. 
  • Total Platform Assets fell 5% month-over-month to USD 324.5 billion. 
  • Net Deposits reached USD 7.1 billion in November, marking meaningful year-over-year expansion. 
  • Margin balances surged 147% year-over-year, reaching USD 16.8 billion. 

Robinhood Markets, Inc. (NASDAQ:HOOD) released its operating data for November 2025, showing a slight decline in funded customers compared to October. The platform ended the month with 26.9 million funded accounts, down by roughly 130,000 sequentially but still up 2.10 million year-over-year. 

The monthly dip included the required escheatment of nearly 280,000 low-balance accounts. Without this regulatory impact, funded customers would have increased by about 150,000 in November. Despite the temporary decline, platform engagement remains stable, supported by growing adoption of Robinhood’s investment, retirement, and cash-management products. 

Total Platform Assets closed November at USD 324.5 billion, down 5% month-over-month but up a notable 67% compared to November 2024. The month also saw USD 7.1 billion in Net Deposits, translating to a 25% annualized growth rate relative to October’s asset base. 

Trading Volumes Decline as Market Activity Softens 

Trading activity across asset classes slowed in November following a busier October. Equity notional trading volumes fell 37% month-over-month to USD 201.5 billion, though they rose 37% year-over-year. Options contract volumes recorded a similar trend, dropping 28% from October but increasing 24% from the previous year. 

Crypto activity also moderated. Total notional crypto volumes came in at USD 28.6 billion, down 12% month-over-month and 19% year-over-year. The Robinhood App accounted for USD 12.0 billion of these volumes, with Bitstamp contributing USD 16.6 billion. This marks a continued shift as Bitstamp’s integration influences crypto trading behavior. 

Event contracts were a notable outlier, rising 20% month-over-month to 3.0 billion contracts — up significantly from just 0.5 billion a year earlier. The increase highlights growing demand for short-duration, event-based trading instruments. 

Daily Average Revenue Trades (DARTs) mirrored overall volume trends. Equity DARTs decreased 13% from October; options declined 7%, and crypto remained flat month-over-month. 

Cash Sweep Activity and Margin Balances See Contrasting Trends 

Margin balances climbed steadily, reaching USD 16.8 billion at the end of November — up 2% month-over-month and 147% year-over-year. This increase suggests higher leverage utilization among active traders. 

Cash Sweep balances totaled USD 32.5 billion, a 5% month-over-month reduction, partly driven by the wind-down of the Non-Gold Cash Sweep program. Roughly USD 700 million moved into customer free credit balances because of the program’s closure. Gold Cash Sweep balances stood at USD 31.4 billion, down 3% from October but up 22% year-over-year. 

Securities lending revenue came in at USD 34 million, down 43% compared to October but still 48% higher than the prior year. 

Conclusion 

Robinhood’s November results reflect a mix of strategic progress and market-driven volatility. While assets, margin balances, and annual deposit inflows continue to advance, month-to-month declines in trading volumes point to a quieter period for retail activity. The company’s ongoing product expansion — from cash management to retirement and institutional trading through Bitstamp — suggests diversified momentum heading into 2026. 

Robinhoods’ shares closed at USD 123.38 on 12th December, marking a 9.05% increase from the prior session.