Robinhood Financial LLC & Robinhood Securities, LLC Customer Agreement

Legal Rights & Agreement Rules · Context

This saved text is the Customer Agreement revised October 1, 2026

The saved document opens with a revision line reading "Revised October 1, 2026". That line dates this copy of the Customer Agreement as a later-dated version of the text. The saved text also contains a separate later line "Revised April 10, 2026" ahead of an attached Market Data Addendum, so the dates on the parts of this PDF differ.

Supporting quotations

Revised October 1, 2026

Qualifications & exceptions

• The date is the revision label printed on the saved document, not a stated effective date or a statement about when it takes effect for any particular account.

Not stated here

• The saved text does not say when this revision takes effect for existing customers or whether it replaces an earlier version for them.

Legal Rights & Agreement Rules · Context

Who "Robinhood", "Account" and "you" mean, and what the Agreement covers

The Customer Agreement is between the customer (the Account owner) and Robinhood Financial LLC, Robinhood Securities, LLC and their agents and assigns, together called "Robinhood". It governs accounts Robinhood may open and operate for the customer to buy, sell or carry securities or related contracts, or to borrow funds. Transactions in those Accounts are cleared through Robinhood Securities. Where an Account is a trust or custodial account, "you" also covers the authorized individual acting as fiduciary, both in that fiduciary role and individually where applicable. "Agreement" is defined to include not just this text but any other agreements or disclosures that apply to the Account, as amended or supplemented from time to time.

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Robinhood Financial LLC, Robinhood Securities, LLC, and their agents and assigns (collectively in this Agreement, “Robinhood”) may open and operate one or more accounts on your behalf

which transactions are cleared through Robinhood Securities

Where an Account is a trust or custodial account, these terms shall also refer to the authorized individual acting in a fiduciary capacity (such as a trustee or custodian), both in their fiduciary capacity and in their individual capacity, where applicable.

References to this “Agreement” include these terms and conditions as well as any other agreements or disclosures that apply to your Account, each as amended or supplemented from time to time.

Qualifications & exceptions

• The fiduciary extension applies where the Account is a trust or custodial account and covers the individual "where applicable".
• "Agreement" includes other agreements and disclosures that apply to the Account, so the reach of the Agreement is wider than this document alone.

Legal Rights & Agreement Rules · Restriction or exception

Clicking or tapping "Submit Application" or "Agree" binds you as if you had signed

By agreeing to the Agreement and opening or using an Account, you expressly accept its terms and any other agreements or terms incorporated into it. Clicking or tapping "Submit Application", "Agree" or a similar button or acknowledgement in the application process is stated to be legally equivalent to manually signing, and you are legally bound when you do so. The Agreement also tells you it is a legal agreement, asks you to read and understand it before agreeing, and directs questions to help@robinhood.com or independent advice.

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BY AGREEING TO THIS AGREEMENT AND OPENING OR USING AN ACCOUNT, YOU EXPRESSLY AGREE TO THE TERMS OF THIS AGREEMENT AND ANY OTHER AGREEMENTS OR TERMS INCORPORATED INTO IT.

IS LEGALLY EQUIVALENT TO MANUALLY SIGNING THIS AGREEMENT, AND YOU WILL BE LEGALLY BOUND BY THIS AGREEMENT WHEN YOU CLICK OR TAP SUCH BUTTON

IT IS IMPORTANT THAT YOU CAREFULLY READ AND UNDERSTAND ITS TERMS BEFORE AGREEING TO IT. IF YOU HAVE ANY QUESTIONS YOU SHOULD CONTACT help@robinhood.com OR SEEK INDEPENDENT ADVICE.

Qualifications & exceptions

• The binding effect attaches to clicking a button or acknowledgement during the application process.

Legal Rights & Agreement Rules · Permission or license

Robinhood can amend the Agreement by posting revised terms; continued use is acceptance

Robinhood may supplement or amend the Agreement from time to time by notice to you, and the notice requirement can be met simply by posting the revised terms on the Robinhood website. You agree to check for updates. If you keep maintaining an Account or accessing services without objecting to revised terms, you are deemed to accept them and are legally bound. The clause does not say here how long you have to object or how to object.

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THIS AGREEMENT AND ITS TERMS MAY BE SUPPLEMENTED OR AMENDED FROM TIME TO TIME BY ROBINHOOD BY NOTICE TO YOU, AND SUCH NOTICE REQUIREMENT MAY BE SATISFIED BY THE REVISED TERMS BEING POSTED ON THE ROBINHOOD WEBSITE, AND YOU AGREE TO CHECK FOR UPDATES TO THIS AGREEMENT.

BY CONTINUING TO MAINTAIN ANY ACCOUNT OR ACCESS ANY SERVICES WITHOUT OBJECTING TO ANY REVISED TERMS OF THIS AGREEMENT, YOU ARE DEEMED TO ACCEPT THE TERMS OF THE REVISED AGREEMENT AND WILL BE LEGALLY BOUND BY ITS TERMS AND CONDITIONS.

Qualifications & exceptions

• Notice may be satisfied by website posting alone.
• Acceptance is deemed from continuing to maintain an Account or access services without objecting.

Not stated here

• The text does not give an objection period or a procedure for objecting.

Cross-references

• contrast (model-proposed): Robinhood may amend the Agreement at any time without prior notice; continued activity is acceptance — contrast: Section 1 describes amendments "by notice to you" that posting on the website can satisfy and deems continued use acceptance, while Section 37.7 allows amendment "without prior notice" with the current version posted. The two pull in different directions on whether notice precedes an amendment; the text does not reconcile them.

Legal Rights & Agreement Rules · Restriction or exception

Terms you accept for other Robinhood services are added to this Agreement

If you request other Robinhood services that require you to agree to specific terms, whether electronically by clicking or otherwise, those terms are deemed an amendment and become part of this Agreement. In practice, separate service terms you accept can be folded into the Customer Agreement.

Supporting quotations

IF YOU REQUEST OTHER SERVICES PROVIDED BY ROBINHOOD THAT REQUIRE YOU TO AGREE TO SPECIFIC TERMS AND CONDITIONS ELECTRONICALLY (THROUGH CLICKS OR OTHER ACTIONS) OR OTHERWISE, SUCH TERMS AND CONDITIONS WILL BE DEEMED AN AMENDMENT AND WILL BE INCORPORATED INTO AND MADE PART OF THIS AGREEMENT.

Qualifications & exceptions

• Applies to other services provided by Robinhood that require specific terms and conditions.

Legal Rights & Agreement Rules · Restriction or exception

Submitting the application acknowledges a pre-dispute arbitration clause in Section 39

By clicking or tapping "Submit Application" you acknowledge that the Agreement contains a pre-dispute arbitration clause in Section 39. Section 39 provides that any controversy or claim arising out of or relating to the Agreement, any other agreement with Robinhood, any Account or any transaction in it is settled by arbitration before FINRA Dispute Resolution, Inc. under its rules. The full arbitration terms are explained in the Section 39 cards.

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YOU ALSO UNDERSTAND THAT BY CLICKING OR TAPPING “SUBMIT APPLICATION” YOU HAVE ACKNOWLEDGED THAT THIS AGREEMENT CONTAINS A PREDISPUTE ARBITRATION CLAUSE IN SECTION 39 HEREIN.

shall be settled by arbitration before FINRA Dispute Resolution, Inc. (“FINRA DR”) in accordance with the rules of FINRA DR

Qualifications & exceptions

• The acknowledgment here is by clicking or tapping "Submit Application".

Legal Rights & Agreement Rules · Restriction or exception

You agree to listed disclosures incorporated by reference and acknowledge receipt of the Privacy Policy

By entering the Agreement you acknowledge receipt of the Robinhood Financial LLC Form CRS, and you acknowledge receipt of and agree to the terms of a list of documents: the Robinhood Terms and Conditions, RHF Use and Risk Disclosures, Robinhood Financial Product Features Disclosures, Extended Hours Trading Disclosure, ETF Disclosure, RHF Funds Availability, the RHF and RHS Business Continuity Plan Summary and the FINRA Public Disclosure Program. Those documents are incorporated by reference. The Robinhood Privacy Policy is only acknowledged as received; the sentence does not say it is incorporated. Elsewhere "Risk Disclosures" is defined as risk disclosure documentation available on the Website or Disclosure Library from time to time.

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you acknowledge receipt of and agree to the terms of the Robinhood Terms and Conditions, RHF Use and Risk Disclosures, Robinhood Financial Product Features Disclosures, Extended Hours Trading Disclosure, ETF Disclosure, RHF Funds Availability, RHF and RHS Business Continuity Plan Summary, and FINRA Public Disclosure Program, which are incorporated by reference into this Agreement

You also acknowledge receipt of the Robinhood Privacy Policy.

“Risk Disclosures” means the risk disclosure documentation available or referenced on the Website or the Disclosure Library from time to time.

Qualifications & exceptions

• The list is incorporated by reference; the Privacy Policy is listed only as received.
• The later definition of Risk Disclosures refers to documentation available from time to time, so those documents can change.

Not stated here

• The text of the incorporated documents is not part of this saved agreement and is not summarized here.

Legal Rights & Agreement Rules · Context

Opening an Account creates direct contracts with Robinhood Financial and Robinhood Securities

When you open or apply for an Account to use the Robinhood apps or website, you enter direct contractual relationships with both Robinhood Financial and Robinhood Securities. The "Platform" is defined broadly as the apps and website together with their programs, tools, features, functionality, services, transactions and Content. "Website" means robinhood.com and any other site through which Robinhood offers services.

Supporting quotations

you are entering into direct contractual relationships with Robinhood Financial and Robinhood Securities

collectively, the “Platform”

Qualifications & exceptions

• Applies when you open or apply to open an Account to access services on the App or Website.

Account & Service Control · Restriction or exception

You must be at least 18 and legally permitted to hold an Account; "Applicable Law" is defined

To be eligible to open or have an Account you must be at least 18, legally permitted to have an Account, and in compliance with the Agreement, Applicable Law and any other eligibility criteria Robinhood may implement from time to time. "Applicable Law" covers federal securities laws and regulations, the laws and regulations of any state or jurisdiction, rules of any applicable self-regulatory organization of which Robinhood is a member, and the rules, regulations, customs and usages of the exchange, market or clearing house where transactions are executed. Custodial Accounts for minors are addressed separately in Section 2.8.

Supporting quotations

you must be at least 18 years old, and otherwise be legally permitted to have an Account and in compliance with the terms and conditions of this Agreement and Applicable Law, as well as any other eligibility criteria we may implement from time to time

“Applicable Law” includes all federal securities laws and regulations, the applicable laws and regulations of any state or jurisdiction, the rules of any applicable self- regulatory organization of which Robinhood is a member

Qualifications & exceptions

• Robinhood can add eligibility criteria from time to time.

Account & Service Control · Restriction or exception

Your Account is self-directed; you remain responsible for orders, including those placed by an AI agent

The Account is self-directed. You are solely responsible for all orders in the Account, your investment decisions and judging whether any transaction, security or strategy is suitable, except as Section 2.4 provides. All orders you enter or that are placed on your behalf are treated as based on your own decisions. The Account stays self-directed if you authorize an AI agent to place orders. Neither Robinhood nor the agent exercises investment discretion, and the agent's orders are based on parameters and instructions you configure and authorize. Section 2.4 states that Robinhood does not give investment advice or recommendations unless specifically agreed in writing and clearly identified as an individualized recommendation, and that AI agent output is not Robinhood advice. Another section defines "AI agent" as software using artificial intelligence to view Account information or place orders in your Account, whether through an API Product or within the Robinhood app.

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Your Account is self-directed and, except as provided in Section 2.4 below, you are solely responsible for any and all orders placed in your Account, for your investment decisions, and for determining the suitability of any particular transaction, security, or investment strategy.

Your Account remains self-directed if you authorize an AI agent to place orders in it. Neither Robinhood nor any such agent exercises investment discretion over your Account, and all orders placed by such an agent are based on parameters and instructions you configure and authorize.

unless specifically agreed upon in writing and clearly identified by Robinhood as an individualized investment recommendation for you

The output of any AI agent is not investment advice or a recommendation by Robinhood, and Robinhood does not review, adopt, or endorse it.

an "AI agent" means software that uses artificial intelligence to view Account information or to place orders in your Account, whether you access that software through an API Product or within the Robinhood app

Qualifications & exceptions

• The responsibility is "except as provided in Section 2.4".
• Section 2.4: advice only if specifically agreed in writing and clearly identified as an individualized investment recommendation for you.
• AI agent output is not Robinhood advice, and Robinhood does not review, adopt or endorse it, even if expressed as a recommendation.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood gives no investment advice or recommendations unless agreed in writing; AI agent output is not advice

Robinhood and people acting for it do not give investment advice, recommend any security, transaction or order, or advise on the merits of any action or investment decision for your Account or holdings. The one exception is advice specifically agreed in writing and clearly identified by Robinhood as an individualized investment recommendation for you. Output of any AI agent is not investment advice or a Robinhood recommendation, and Robinhood does not review, adopt or endorse it, even when the output is phrased as a recommendation, opinion or strategy.

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does not provide any investment advice or recommend any particular security, transaction, or order, or other matter connected with your Account

unless specifically agreed upon in writing and clearly identified by Robinhood as an individualized investment recommendation for you

The output of any AI agent is not investment advice or a recommendation by Robinhood, and Robinhood does not review, adopt, or endorse it. This remains the case where such output is expressed as a recommendation, opinion, or strategy.

Qualifications & exceptions

• Exception only for an individualized recommendation specifically agreed in writing and clearly identified as such by Robinhood.
• Applies to AI agent output even when it is expressed as a recommendation, opinion or strategy.

Account & Service Control · Permission or license

You appoint Robinhood Financial as your agent to carry out your instructions on the Platform

You appoint Robinhood Financial as your agent to carry out your directions and instructions under the Agreement, including all instructions you input or deliver through the Platform. You authorize it to open or close your Account, place and withdraw orders and take other steps that are reasonable to carry out your instructions. You understand Robinhood Financial provides trading and brokerage services through the Platform and agree to receive and transmit financial information and instructions electronically through the Platform.

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You appoint Robinhood Financial as your agent for the purposes of carrying out your directions and instructions to Robinhood Financial in accordance with this Agreement

You authorize Robinhood Financial to open or close your Account, place and withdraw orders and take such other steps as are reasonable to carry out your instructions or directions.

you agree to receive and transmit financial information and instructions through electronic means via the Platform

Qualifications & exceptions

• Steps must be reasonable to carry out your instructions or directions.

Legal Rights & Agreement Rules · Company practice

Robinhood Securities clears your trades and carries your Account on a fully disclosed basis

Robinhood Financial introduces your Account to Robinhood Securities under a clearing agreement, and Robinhood Securities clears all transactions on a fully disclosed basis. Robinhood Securities carries your Account and is responsible for clearing and bookkeeping, but is not otherwise responsible for Robinhood Financial's conduct. Until you give written notice to the contrary, Robinhood Securities may accept from Robinhood Financial, without inquiry or investigation, orders to buy or sell securities, other instructions about your Account or its assets, and, for a Margin Account, instructions to buy on margin. It looks to Robinhood Financial rather than you for such orders and instructions, except that it delivers confirmations, statements and written notices directly to you (with copies or availability to Robinhood Financial) and looks to you or Robinhood Financial for delivery of margin, payment or securities. You agree to hold Robinhood Securities harmless from Losses arising from delivery or receipt of those communications, provided it acted as described.

Supporting quotations

Robinhood Securities will clear all transactions, on a fully- disclosed basis

Robinhood Securities carries your Account and is responsible for the clearing and bookkeeping of transactions, but is not otherwise responsible for the conduct of Robinhood Financial

until receipt of written notice from you to the contrary, Robinhood Securities may accept from Robinhood Financial, without inquiry or investigation

You agree to hold Robinhood Securities harmless from and against any Losses arising in connection with the delivery or receipt of any such communication(s), provided Robinhood Securities has acted in accordance with the above.

Qualifications & exceptions

• Robinhood Securities may accept instructions from Robinhood Financial without inquiry until you give contrary written notice.
• The hold-harmless covers Losses from delivery or receipt of communications, and applies only if Robinhood Securities acted in accordance with the stated arrangement.
• The margin-purchase instructions apply if you have a Margin Account.

Account & Service Control · Permission or license

Each joint owner has full authority over a Joint Account and grants the other a limited power of attorney

A Robinhood customer in good standing may open a Joint Account with one other owner who is also a customer in good standing. Each owner has full authority over the Joint Account, including receiving Account Documents, demands, confirmations, statements and other communications, and each grants the other a limited power of attorney. Each owner, or a Third Party Authorized Representative, can without prior authorization from or notice to the other owner do things such as deposit or withdraw money, securities or property, trade, terminate the Joint Account, and enable or disable features and services. Both owners are presumed able to access the Joint Account whenever either does so via the App or Website, and you consent to any action either owner takes on it. "Account Documents" is defined in Section 34.1.

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A Robinhood customer in good standing may open a joint Account with one other owner who is also a Robinhood customer in good standing

Each owner of the Joint Account has full authority over the Joint Account

each owner grants to the other owner limited power of attorney with respect to the Joint Account

is entitled, without the prior authorization from or notice to the other owner, to, for example, deposit or withdraw money, securities, or other property from the Joint Account, to make trades in the Joint Account, to terminate the Joint Account

you represent that you consent to any actions taken by either Joint Account owner with respect to the Joint Account

Qualifications & exceptions

• One other owner only, and both must be Robinhood customers in good standing.
• No prior authorization from or notice to the other owner is needed for these actions.

Not stated here

• The definition of Account Documents is in Section 34.1, outside this section.

Charges & Financial Obligations · Permission or license

Joint owners are jointly and severally liable, and Robinhood may offset funds across your accounts

Both owners of a Joint Account are jointly and severally liable for the Joint Account and obligations arising from the Agreement, and all property in the Joint Account for either owner may be subject to a lien. Robinhood may, at its discretion, recoup or offset funds across a customer's individual Account and Joint Account, including by selling securities and positions, for example where fraudulent activity or indications of it create a deficit in one of the customer's accounts.

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Both owners of the Joint Account shall have joint and several liability for the Joint Account or obligations arising from this Agreement, and all property in the Joint Account for either owner may be subject to a lien.

Robinhood may in its discretion recoup or offset funds across a customer’s individual Account and Joint Account, including the sale of customer securities and positions, such as when there is fraudulent activity or indications of fraudulent activity that create an account deficit in one of the customer’s accounts.

Qualifications & exceptions

• Offset across individual and joint accounts is at Robinhood's discretion; the fraud example is introduced by "such as" and is not stated as the only trigger.

Account & Service Control · Restriction or exception

Robinhood may restrict a Joint Account over conflicting instructions and is not liable for following one or both owners

Robinhood may place a restriction on a Joint Account if it receives conflicting instructions or there is a dispute between the owners, and may at its discretion require written instructions from all account holders. It is not responsible for judging the purpose or propriety of an instruction from any Joint Account holder, or for how payments or deliveries are divided among holders. You must promptly notify Robinhood if a Joint Account owner dies. Robinhood has no liability for loss that may arise from taking instructions from one owner or requiring instructions from both.

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We may place a restriction on the Joint Account if we receive conflicting instructions or there is a dispute between the Joint Account owners.

We are not responsible for determining the purpose or propriety of an instruction we receive from any Joint Account holder

You must promptly notify Robinhood if an owner of the Joint Account dies.

Robinhood will have no liability for any loss that may arise due to taking instructions from one owner or requiring instructions from both owners.

Qualifications & exceptions

• Robinhood's no-liability statement covers both following one owner's instructions and requiring both owners' instructions.

Account & Service Control · Restriction or exception

Joint Accounts are only offered with rights of survivorship, not for Louisiana residents; state law is your job

The only kind of joint ownership Robinhood offers is a Joint Account With Rights of Survivorship. A Joint Account cannot be opened if either owner is a Louisiana resident. You are responsible for understanding the state laws that apply to your account ownership, including how they affect the disposition of assets, and for making sure this ownership structure is valid in your state or states.

Supporting quotations

the only type of joint account ownership offered by Robinhood is Joint Accounts With Rights of Survivorship

You cannot open a Joint Account if either owner of the Joint Account is a resident of Louisiana.

you are responsible for understanding state laws applicable to your account ownership, including how state laws impact the disposition of assets, and for ensuring that this ownership structure is valid in your state(s)

Qualifications & exceptions

• The Louisiana exclusion applies if either owner is a Louisiana resident.

Sharing & Disclosure · Permission or license

Robinhood may share one joint owner's personal information with the other and contact a Trusted Contact

You agree that Robinhood may share certain personal information about one Joint Account owner, such as name and email address, with the other owner. Robinhood may also contact the Trusted Contact Person listed on any Robinhood Account of either owner, as described in Section 5, and communications with that person may include information about either Joint Account owner, the Account for which the contact was provided, any other Robinhood Accounts in which a joint owner has an interest, or other information the owners provided. Section 5 says the contact may be made to address possible fraud or financial exploitation, confirm contact details, raise health-status concerns, confirm the identity of a guardian, executor, trustee or power-of-attorney holder, or for other reasons permitted by FINRA Rule 2165, and that naming a Trusted Contact is optional and does not let that person trade or act for you.

Supporting quotations

we may share certain personal information about one owner of the Joint Account with the other, such as name and email address

Robinhood may contact the Trusted Contact Person listed on any Robinhood Account for any owner of the Joint Account, as described in Section 5 below

the Trusted Contact authorization does not authorize the Trusted Contact Person(s) to make any investment decisions or transact any business with Robinhood on your behalf

Qualifications & exceptions

• The sharing between joint owners is stated for "certain personal information", with name and email address as examples.
• Trusted Contact authorization does not require Robinhood to communicate with the person and does not let them make investment decisions or transact business.

Not stated here

• The full list of Trusted Contact contact reasons and limits is in Section 5; only the part relevant to joint owners is summarized here.

Account & Service Control · Restriction or exception

A Custodial Account belongs to the Minor; the Custodian acts on the Minor's behalf and gifts are irrevocable

A Robinhood customer in good standing may open or maintain a custodial account for a minor. These accounts are governed by the UTMA or, where applicable, the UGMA of the governing state. The Minor, not the Custodian, is the client and legal owner of all assets in the Account. The person opening or maintaining the Account is the Custodian, who acts on the Minor's behalf and whose authority and responsibilities come from the applicable UTMA or UGMA and other Applicable Law. Robinhood may decline to open a Custodial Account if the Minor is ineligible under governing law or if Robinhood reasonably believes a contribution would not be a valid gift. All funds and assets contributed irrevocably become the Minor's property.

Supporting quotations

A Robinhood customer in good standing may open or maintain a custodial account for a minor

the Minor, not the Custodian, is the client and legal owner of all assets in the Account

Robinhood may decline to open a Custodial Account if the Minor is ineligible under governing law or if Robinhood reasonably believes a contribution would not constitute a valid gift.

All funds and assets contributed to the Custodial Account irrevocably become the property of the Minor.

Qualifications & exceptions

• Robinhood may decline only on the stated grounds: Minor ineligibility, or a reasonable belief a contribution is not a valid gift.

Legal Rights & Agreement Rules · Restriction or exception

Custodian owns the age-of-termination call; delaying it can have gift tax and benefit effects

The statutory age of termination varies by state, and you, not Robinhood, are responsible for finding the governing law, the age of termination and the Minor's eligibility. Unless you elect otherwise at account opening, Robinhood applies the default age of termination for custodial accounts created by irrevocable gift under the UTMA of your state of record. To choose a different permitted age, or if a specific contribution has a different age, you must notify Robinhood in writing; Robinhood may rely exclusively on that notice and need not verify statutory ages. Electing to defer termination beyond the Minor's 21st birthday makes the transfer a gift of a future interest, which may have adverse federal and state gift tax consequences, and you are told to consult an attorney or tax advisor. Custodial assets may count as the Minor's resources for means-tested benefits such as SSI and Medicaid, and ending a custodianship may suddenly raise those resources; you are responsible for understanding this and consulting advisors.

Supporting quotations

You are responsible for determining the governing law, the age of termination, and the Minor’s eligibility; Robinhood is not responsible for doing so.

Robinhood will apply the default age of termination for custodial accounts established by irrevocable gift under the UTMA of your state of record

Robinhood may rely exclusively on your notification and has no obligation to verify statutory ages for any contribution.

electing to defer termination of custodianship beyond the Minor’s attainment of twenty-one (21) years of age will cause the transfer to be a gift of a future interest which may have adverse federal and state gift tax consequences

You are responsible for understanding how Custodial Account assets may affect such eligibility and for consulting appropriate advisors regarding any potential impact.

Qualifications & exceptions

• Robinhood relies exclusively on your written notification of a non-default age and does not verify statutory ages.
• The gift-tax warning applies to deferring termination past age 21.

Legal Rights & Agreement Rules · Restriction or exception

The Custodian certifies the assets are for the Minor; Robinhood owes no fiduciary duty and does not monitor use

By acting as Custodian you certify that Account assets are for the exclusive benefit of the Minor. Robinhood has no obligation to monitor your fiduciary compliance or what happens to withdrawn assets, is not the custodian and owes no fiduciary duties to you or the Minor. If a Custodian cannot serve, Robinhood may rely on statutory successor provisions and restrict the Account until authority is established. Robinhood may also administratively update the account's descriptive registration or statutory reference to reflect state-law changes (for example from UGMA to UTMA) without changing ownership, the age of termination or the irrevocable nature of the gift.

Supporting quotations

By acting as Custodian, you certify that assets in the Account are for the exclusive benefit of the Minor.

Robinhood does not have an obligation to monitor your fiduciary compliance or the use of withdrawn assets. Robinhood is not the custodian of the Account and owes no fiduciary duties to you or the Minor.

If a Custodian is unable to serve, Robinhood may rely on statutory successor provisions and restrict the Account until authority is established.

Robinhood may also administratively update your account’s descriptive registration or statutory reference to reflect state law transitions

Qualifications & exceptions

• Registration updates are limited to descriptive or statutory references and do not change ownership, age of termination or irrevocability.

Charges & Financial Obligations · Restriction or exception

Custodial Accounts get no margin or collateral use; securities lending may pay cash in lieu of dividends

Standard margin investing is not available for Custodial Accounts, and Custodial Account assets cannot be used as collateral for a loan from Robinhood or any third party. If you opt the Custodial Account into a fully paid securities lending program, you may receive cash payments in lieu of dividends. Those payments may not get the same treatment as qualified dividends and are likely to be taxed at a higher rate than the preferential qualified dividend rate. You represent that you have decided participation is in the Minor's best interest after considering the tax and fiduciary implications.

Supporting quotations

Standard margin investing is not available for Custodial Accounts, and you may not use assets in the Custodial Account as collateral for a loan from Robinhood or any third party.

If you opt the Custodial Account into a fully paid securities lending program, you acknowledge that you may receive cash payments in lieu of dividends.

You represent that you have determined such participation is in the Minor’s best interest after considering these tax and fiduciary implications.

Qualifications & exceptions

• The tax statement is "may" and "likely" language and applies if the account is opted into fully paid securities lending.

Account & Service Control · Restriction or exception

At the age of termination you must request the transfer; Robinhood may restrict you, and you indemnify it

When the Minor reaches the age of termination, you must request the transfer of control. Robinhood may then restrict your access and authority, which ends its obligation to accept your instructions. You agree to provide the Minor's contact information and to indemnify and hold Robinhood harmless from all liability, including any claim by the Minor, arising from following your instructions or from the transfer of control. If you do not transfer control and register the assets in the Minor's name at termination, you authorize Robinhood, without any obligation, to make the transfer for you.

Supporting quotations

Upon the Minor reaching the age of termination, you are responsible for requesting the transfer of control.

Robinhood reserves the right to restrict your access and authority at that time, which terminates Robinhood’s obligation to accept instructions from you.

to indemnify and hold Robinhood harmless from any and all liability, including from any claim by the Minor, arising from following your instructions or the transfer of control

you authorize Robinhood (but Robinhood shall have no obligation) to effect such transfer on your behalf

Qualifications & exceptions

• Robinhood's authority to transfer on your behalf is permissive; it has no obligation to do so.

Charges & Financial Obligations · Restriction or exception

Custodian stays personally liable for Custodial Account deficits; offset rights come with four limits

You remain personally responsible for deficits or obligations resulting from your instructions in the Custodial Account. Robinhood's recovery rights under Section 31.8 survive termination of the Custodial Account and the Agreement, subject to four custodial limits. Robinhood may satisfy your Obligations related to the Custodial Account by liquidating assets or offsetting balances in your individual accounts or any other account you own in your own name. It will not offset your personal, unrelated debts against the Minor's assets, nor one Minor's Obligation against a different Minor's assets. You authorize it to offset a Custodial Account deficit with funds from another Custodial Account for the same Minor. And despite Section 31.8, it will not debit your external bank accounts for Custodial Account deficits without separate, specific authorization. Section 31.8 otherwise lets Robinhood recover amounts you owe by offset against your Account, external bank account, Affiliate accounts and other linked accounts.

Supporting quotations

You remain personally responsible for any account deficits or obligations resulting from your instructions.

Robinhood will not offset your personal, unrelated debts against assets owned by the Minor, nor will Robinhood offset an Obligation of one Minor against the assets of a different Minor

you authorize Robinhood to offset a deficit in the Custodial Account using funds from another Custodial Account for the same Minor

notwithstanding Section 31.8, Robinhood will not debit your external bank accounts for Custodial Account deficits unless you provide separate, specific authorization for such transaction

You authorize Robinhood to recover amounts you owe, and to debit, charge or otherwise exercise a right of offset to recover funds from the balance in your Account, your external bank account, any account you own with an Affiliate of Robinhood

Qualifications & exceptions

• The four numbered limits (i)-(iv) qualify the Section 31.8 offset rights for Custodial Accounts.
• External bank debits for Custodial Account deficits require separate, specific authorization.

Cross-references

• narrows (model-proposed): You owe Obligations on demand; Robinhood may offset against your accounts, bank account and linked instruments — exception_to: For Custodial Account deficits, Robinhood will not debit the customer's external bank accounts without separate, specific authorization, which carves an exception out of the general Section 31.8 offset authority that reaches the external bank account.

Account & Service Control · User right or choice

Optional gifting link lets Donors give irrevocably to the Minor; Robinhood may suspend or reject gifts

A Custodial Account includes an optional gifting feature. If you enable it, Robinhood provides a unique gifting link for third parties ("Donors") to make irrevocable gifts to the Minor. You may disable the feature or revoke the link at any time in your account settings. Robinhood may also suspend, limit or reject gifts at any time to comply with Applicable Law or for fraud, risk or operational reasons.

Supporting quotations

Your Custodial Account includes an optional gifting feature. If you enable this feature, Robinhood will provide a unique gifting link for third parties (“Donors”) to make irrevocable gifts to the Minor.

You may disable this feature or revoke the link at any time through your account settings.

Robinhood may also suspend, limit, or reject gifts at any time to comply with Applicable Law or for fraud, risk, or operational reasons.

Qualifications & exceptions

• Robinhood may suspend, limit or reject gifts "at any time", for the listed reasons.

Account & Service Control · Context

Donors can send Cash Gifts or Equity Gifts, and receive a confirmation that the gift was cash

Donors may give the Minor either Cash Gifts, deposited directly as uninvested cash, or Equity Gifts, which are functional cash contributions earmarked by a Donor for buying a specific security available on the Robinhood platform. You acknowledge that Donors receive a confirmation or invoice stating that their contribution was a gift of cash, even for an Equity Gift.

Supporting quotations

Cash Gifts, which are deposited directly into the Account as uninvested cash

Equity Gifts, which are functional cash contributions earmarked by a Donor for the purchase of a specific security available on the Robinhood platform

Donors will receive a confirmation or invoice stating that their contribution was a gift of cash

Qualifications & exceptions

• An Equity Gift is cash earmarked for a security, not a transfer of the security itself.

Legal Rights & Agreement Rules · Restriction or exception

Each Donor represents the gift is voluntary and irrevocable, with no rights in the account

By making a gift, each Donor represents that the gift is voluntary, completed and irrevocable; that the Donor obtains no rights in the Custodial Account and cannot direct investments; that the funds come from lawful sources; that the Donor is responsible for any tax consequences; and that the Donor may not revoke, recall or reclaim the gift except as required by Applicable Law.

Supporting quotations

(a) the gift is voluntary, completed, and irrevocable; (b) the Donor obtains no rights in the Custodial Account and may not direct investments

(d) the Donor is responsible for any tax consequences; and (e) the Donor may not revoke, recall, or reclaim the gift except as required by Applicable Law

Qualifications & exceptions

• The only stated exception to non-revocation is where Applicable Law requires it.

Charges & Financial Obligations · Restriction or exception

Enabling the gifting link makes you liable if a Donor's gift is reversed or challenged

By enabling the gifting link you are responsible for the actions of the Donors you invite. If a Donor's gift is reversed, returned or challenged for any reason, including ACH reversals or fraud, the reversal creates a personal Obligation for which you are liable. That Obligation is governed by the personal responsibility and recovery rights described earlier, including the Right of Offset in Section 31.8 and custodial limitations (i)-(iv). Robinhood has no obligation to pursue a Donor, and recourse for the gift's value is solely between you and the Donor.

Supporting quotations

by enabling the gifting link, you are responsible for the actions of the Donors you invite to contribute

If a Donor’s gift is reversed, returned, or challenged for any reason, including but not limited to ACH reversals or fraud, you agree that such reversal creates a personal Obligation for which you are liable.

Robinhood has no obligation to pursue a Donor for a reversed gift and that any recourse for the value of the gift is solely between you and the Donor

Qualifications & exceptions

• Applies to reversal, return or challenge "for any reason", with ACH reversals and fraud as examples.
• Recovery is subject to custodial limitations (i)-(iv).

Account & Service Control · Permission or license

Opting into Equity Gifting gives Robinhood a standing authorization to buy the earmarked security

If you opt into Equity Gifting, you establish a standing authorization for Robinhood to act as your agent. Robinhood automatically uses the cash proceeds of an incoming Equity Gift to buy the security the Donor earmarked, subject to your account parameters and Robinhood's policies. A Donor's earmark is informational only, is not a trade order and gives the Donor no authority over the Account; all trades execute solely under your authorization. You may modify parameters or disable Equity Gifting at any time, and disabling ends the standing authorization so later Equity Gifts stay as uninvested cash.

Supporting quotations

you establish a standing authorization for Robinhood to act as your agent

Robinhood will automatically use the cash proceeds of an incoming Equity Gift to purchase the security earmarked by the Donor, subject to your account parameters and Robinhood’s policies

A Donor’s earmark is informational only and is not a trade order and grants the Donor no authority over the Account.

Disabling the feature terminates your standing authorization, and subsequent Equity Gifts will remain as uninvested cash.

Qualifications & exceptions

• Purchases are subject to your account parameters and Robinhood's policies.
• Disabling Equity Gifting ends the authorization for later gifts.

Charges & Financial Obligations · Company practice

Equity Gifts execute at the next session open and fall back to cash if the purchase cannot proceed

Equity Gifts received outside market hours or during halts execute at the opening of the next available standard session. The purchase price may differ from the price when the gift was initiated, and Robinhood is not responsible for those price movements. If a security is restricted, an order fails for operational or regulatory reasons, or the security is otherwise ineligible, the gift is treated as a Cash Gift and deposited as uninvested cash.

Supporting quotations

Equity Gifts received outside market hours or during halts will execute at the opening of the next available standard session.

The purchase price may differ from the price at the time the gift was initiated, and Robinhood is not responsible for such price movements.

the gift will be treated as a Cash Gift and deposited as uninvested cash

Qualifications & exceptions

• The fallback to a Cash Gift applies when the security is restricted, the order fails for operational or regulatory reasons, or the security is ineligible.

Legal Rights & Agreement Rules · Restriction or exception

Equity Gift purchases are not Robinhood advice; the Custodian is responsible that they are prudent for the Minor

Robinhood's execution of purchases under your standing instruction is not investment advice, a recommendation or a suitability determination. By opting into Equity Gifting you represent that you have independently evaluated such securities and you alone are responsible for making sure all purchases are prudent investments for the Minor under your fiduciary duties under Applicable Law.

Supporting quotations

does not constitute investment advice, a recommendation, or a suitability determination

you represent that you have independently evaluated such securities and are solely responsible for ensuring that all purchases are prudent investments for the Minor in accordance with your fiduciary duties under Applicable Law

Account & Service Control · Restriction or exception

Trust Accounts: you warrant the trust is valid, Robinhood relies on your word, and it may freeze the account

If you open or maintain an Account for a trust, you represent and warrant that the trust is active, valid and not revoked or legally restricted. Robinhood may open and administer the Trust Account relying solely on your representations and need not review the trust instrument, verify your authority or check that your actions follow the trust or fiduciary law. You must promptly notify Robinhood of any material change, including amendment, revocation or change of Trustee, and provide the correct taxpayer identification number for the Trust under Section 18, and you are told to consult a tax advisor on the right number. Robinhood may freeze the Trust Account or request updated documentation at any time.

Supporting quotations

you represent and warrant that the trust is currently active, valid, and has not been revoked or legally restricted

Robinhood may open and administer the Trust Account in reliance solely on the representations you provide and has no obligation to review the underlying trust instrument, verify your authority, or ensure your actions comply with its terms or applicable fiduciary law

You agree to promptly notify Robinhood of any material change to the Trust, including any amendment, revocation, or change in Trustee

Robinhood reserves the right to freeze the Trust Account or request updated documentation at any time.

Qualifications & exceptions

• Robinhood may freeze the account or request documentation "at any time".

Account & Service Control · Restriction or exception

Trust Accounts: your instructions bind the whole trust and Robinhood may rely on any onboarded Trustee

You represent and warrant that you have full authority to bind the Trust to the Agreement and to act for it on your Account. The Agreement and your application representations govern the initial Trust Account and any later accounts opened for the same Trust. Any instruction you give is binding on the Trust and all Co-Trustees. Robinhood may accept and rely on instructions from any onboarded Trustee without the consent of another Trustee and is not responsible for checking whether instructions comply with the trust instrument or fiduciary law. No Trustee may access or act in the Trust Account until they complete Robinhood's identity verification and sign the required Trust documentation. Robinhood may restrict the Trust Account and require updated documentation after any change in Trustee identity or authority.

Supporting quotations

You represent and warrant that you have full authority to bind the Trust to this Agreement and to act on its behalf with respect to your Account.

Any instruction you give Robinhood is binding on the Trust and all Co-Trustees.

Robinhood may accept and rely on instructions from any onboarded Trustee without requiring the consent of any other Trustee and is not responsible for determining whether such instructions comply with the trust instrument or applicable fiduciary law.

No Trustee may access or act in the Trust Account until they have completed Robinhood's identity verification requirements and executed the required Trust documentation.

Robinhood may restrict the Trust Account and require updated documentation following any change in Trustee identity or authority.

Qualifications & exceptions

• Reliance applies to "any onboarded Trustee"; Trustees who have not completed identity verification and documentation may not act.

Account & Service Control · Restriction or exception

Notice to one Trustee counts for the whole trust; Trustee or Grantor death triggers Section 17

Notice Robinhood sends to any single authorized Trustee is valid notice to the Trust and all Co-Trustees. On the death or incapacity of any Trustee or Grantor, Section 17 applies. Section 17 adds that a Trustee's death does not automatically close a Trust Account, that you must promptly notify Robinhood of the death of any Trustee or Grantor, that on notice of a Trustee's death Robinhood may immediately restrict that Trustee's access and the Trust Account generally until a successor Trustee is onboarded, and that on notice of a Grantor's death it may restrict the Trust Account pending review of updated trust documentation.

Supporting quotations

Upon the death or incapacity of any Trustee or Grantor, Section 17 of this Agreement applies.

Notice sent by Robinhood to any single authorized Trustee constitutes valid notice to the Trust and all Co-Trustees.

The death of a Trustee does not automatically close a Trust Account. You agree to promptly notify Robinhood of the death of any Trustee or Grantor.

Robinhood may immediately restrict that Trustee's access to the Trust Account and may restrict the Trust Account generally until successor Trustee onboarding is complete.

Qualifications & exceptions

• Section 17 text on estate representatives and survivors of an individual customer is separate and not summarized in this card.

Charges & Financial Obligations · Restriction or exception

Trust Accounts: you are personally liable for deficits you cause and indemnify Robinhood

You are personally liable for obligations, debts or Negative Equity in the Trust Account to the extent they result from your instructions, actions or omissions, including instructions outside your authority under the trust instrument or Applicable Law. Where a Trust Account has several Trustees, a Trustee is not personally liable for Obligations arising solely from another Trustee's conduct, except where that conduct involved fraud or the Trustee charged participated in, directed, or knew of and failed to object to it. You agree, individually and as Trustee, to indemnify and hold Robinhood and its Affiliates harmless from losses, claims or damages from Robinhood's reliance on your instructions or representations, including a beneficiary or Co-Trustee challenge to your authority. A Trustee who has not completed onboarding is not subject to personal liability, indemnification or offset for Trust Account Obligations. If you are a Grantor who keeps a beneficial interest, Robinhood may offset obligations between your individual accounts and Trust Accounts you are Grantor of, but will not offset a Trust obligation against a non-beneficial Trustee's personal account unless that Trustee's instructions or actions caused it.

Supporting quotations

You are personally liable for any obligations, debts, or Negative Equity (as defined in Section 31) incurred in the Trust Account to the extent resulting from your instructions, actions, or omissions, including any instruction given outside the scope of your authority under the trust instrument or Applicable Law.

Where a Trust Account has more than one Trustee, a Trustee is not personally liable for Obligations arising solely from another Trustee's conduct, except where such other Trustee's conduct involved fraud, or where the Trustee being charged participated in, directed, or had actual knowledge of and failed to object to such conduct.

You agree, individually and as Trustee, to indemnify and hold Robinhood and its Affiliates harmless from any losses, claims, or damages arising out of Robinhood's reliance on your instructions or representations

A Trustee who has not completed onboarding is not subject to personal liability, indemnification obligations, or offset under this Section 2.9 or Section 31.8 for Obligations arising in the Trust Account.

If you are the Grantor of a trust in which you retain a beneficial interest, you are deemed to have a beneficial interest in its assets and Robinhood may offset obligations between your individual accounts and any Trust Accounts for which you are the Grantor.

Robinhood will not offset a Trust Account obligation against such Trustee's personal account except where such Trustee's instructions or actions gave rise to the obligation.

Qualifications & exceptions

• The several-Trustee protection has two exceptions: fraud by the other Trustee, or participation, direction or knowing failure to object by the Trustee charged.
• Offset against a non-beneficial Trustee's personal account is limited to obligations that Trustee's own instructions or actions gave rise to.

Not stated here

• The text refers to "Negative Equity (as defined in Section 31)", but the saved text of Section 31 does not contain a definition of that term.

Content & IP Rights · Restriction or exception

Market Data comes from third parties and is subject to a Market Data Addendum you agree to by joining

Robinhood may make available content and data about securities and the markets, including last sale data, bid and asked quotations and fundamental information (together "Market Data"), obtained from exchanges, information providers and other third parties ("Third Party Providers"). For some Market Data Robinhood must include specific terms in its agreements with you, or have you enter specific agreements, before you get access. It does this in a Market Data Addendum at the end of the Agreement. Receipt and use of Market Data are subject to the Agreement and the Addendum, which supplements and is incorporated by reference. By agreeing to the Agreement, opening an Account or accessing any Robinhood services, you agree to the Addendum. The Addendum itself has its own, narrower definition of "Market Data" for purposes of that agreement.

Supporting quotations

We obtain Market Data from securities exchanges and markets, third party information providers, and other third parties that distribute or transmit Market Data (collectively, “Third Party Providers”).

Receipt and use of Market Data are subject to the terms of this Agreement as well as to the Market Data Addendum that supplements and forms part of this Agreement, and is incorporated by reference.

By agreeing to this Agreement, opening an Account, or accessing any services from Robinhood, you agree to the Market Data Addendum.

Market Data Definition – For all purposes of this agreement, "Market Data" means (a) last sale information and quotation information relating to securities that are admitted to dealings on the New York Stock Exchange

Qualifications & exceptions

• Agreement to the Addendum arises from agreeing to the Agreement, opening an Account or accessing any services.
• The Addendum's own definition of "Market Data" is tied to NYSE and exchange-designated information and applies "for all purposes of this agreement" (the Addendum).

Content & IP Rights · Restriction or exception

You get no rights in Market Data beyond the Addendum, and may use it only as a Non-professional for personal use

Providing Market Data does not give you rights over it except rights, if any, expressly granted in the Market Data Addendum. Market Data is provided only on the basis that you represent and warrant you are a Non-professional (as defined in the Addendum) and will use Market Data solely for personal, non-business use. The Addendum defines "Non-professional" as a natural person who receives market data solely for personal, non-business use and who is not a "Securities Professional".

Supporting quotations

this does not grant you any rights over or in that Market Data except those rights (if any) expressly granted to you in the Market Data Addendum

Market Data is provided to you solely on the basis that you represent and warrant that you are a Non-professional (as defined in the Market Data Addendum) and that you will use any Market Data solely for your personal non-business use.

“Non-professional” means any natural person who receives market data solely for their own personal, non-business use and who is not a “Securities Professional.”

Qualifications & exceptions

• The warranty is a condition of being provided Market Data.

Account & Service Control · Restriction or exception

Information you give must be true and kept current within ten days; documents are Robinhood's property

Information you give Robinhood about your Account, application or services must be complete, true, accurate and correct, and you represent and warrant that. You acknowledge that knowingly giving false information to induce Robinhood to extend credit is a federal crime. If information you provided changes, you must tell Robinhood in writing within ten days. You agree that the Agreement, the account application and other documents you furnish in connection with your Account are Robinhood's property.

Supporting quotations

you represent and warrant that such information is complete, true, accurate, and correct

knowingly giving false information for the purpose of inducing Robinhood to extend credit is a federal crime

If any information that you have provided to Robinhood changes, you agree to promptly notify Robinhood of such changes in writing within ten days.

this Agreement, the account application, and any other document you furnish in connection with your Account is Robinhood’s property

Qualifications & exceptions

• The ten-day period runs from the change in information and the notice must be written.

Account & Service Control · Restriction or exception

You warrant you are an adult, authorized, and the sole owner of the Account

You represent and warrant that you are at least 18 and of legal age where you live, that you are authorized to enter into the Agreement, and that you are the sole owner of the Account with no other person having any interest in it. The following warranties on the same list are explained in the next section.

Supporting quotations

You represent and warrant that:

You are at least 18 years old, and you are of legal age under the laws of the jurisdiction where you reside.

You are authorized to enter into this Agreement.

You are the sole owner of the Account. No other person has any interest in the Account opened pursuant to this Agreement.

Qualifications & exceptions

• These warranties sit alongside the Joint, Custodial and Trust Account provisions, which describe other ownership structures.

Not stated here

• The sole-owner warranty and the Joint, Custodial and Trust Account sections describe different account types; the text does not say how they interact beyond their own terms.

Account & Service Control · Restriction or exception

You warrant neither you nor your family works in the securities industry (unless disclosed) and must report changes

Unless you have disclosed otherwise to Robinhood in writing, you warrant that neither you nor any member of your immediate family is an employee of an exchange, a company majority-owned by an exchange, a member of an exchange or self-regulatory organization, a member of a firm or member corporation registered on an exchange, a bank, trust company or insurance company, or any firm or individual dealing in securities as a broker-dealer or principal. You must promptly notify Robinhood in writing if you or an immediate family member becomes registered or employed in any of those capacities.

Supporting quotations

Except as otherwise disclosed to Robinhood in writing, neither you nor any member of your immediate family is an employee of any exchange

a bank, trust company, insurance company or any corporation, firm or individual engaged in the business of dealing either as a broker-dealer or as principal in securities

You agree to promptly notify Robinhood in writing if you or a member of your immediate family becomes registered or employed in any of the above- described capacities.

Qualifications & exceptions

• The warranty applies "except as otherwise disclosed to Robinhood in writing" and covers immediate family members.

Account & Service Control · Restriction or exception

You warrant you are not a Securities Professional or a public-company officer, director or 10% holder

You represent that you are not a "Securities Professional" as defined in the Market Data Addendum and that you use the Account for your own personal, non-business purposes. The Addendum defines a Nonprofessional Subscriber as a natural person who receives market data solely for personal, non-business use and who is not a Securities Professional. You also warrant that you are not an officer, director or 10% stockholder of any publicly traded company.

Supporting quotations

You are not a “Securities Professional” (as defined in the Market Data Addendum), and you are using the Account for your own personal, non-business, use.

You are not an officer, director, or 10% stockholder of any publicly traded company.

"Nonprofessional Subscriber" means any natural person who receives market data solely for his/her personal, non- business use and who is not a “Securities Professional.”

Qualifications & exceptions

• The Securities Professional definition is in the Market Data Addendum, and the saved text of its list continues in later blocks.

Account & Service Control · Restriction or exception

You warrant your Account property is freely tradable with no lockup or similar restrictions

You represent that Property in your Account is freely tradable and that no contractual, lockup, blackout or other restrictions limit your ability to trade or loan it. "Property" is defined elsewhere in the Agreement.

Supporting quotations

Property (as defined below) in your Account is freely tradable and there are no contractual, lockup, blackout or other restrictions on your ability to trade or loan the Property.

Qualifications & exceptions

• Property is defined elsewhere ("as defined below"), so the scope depends on that definition.

Charges & Financial Obligations · Restriction or exception

You accept investment risk, including loss beyond principal, and agree to the Risk Disclosures

You acknowledge that all investments involve risk, losses may exceed the principal invested, and past performance does not guarantee future results. You alone are responsible for all investment decisions for your Account, including the risk of loss on purchases and sales. You also acknowledge and agree to the Risk Disclosures, defined as the risk disclosure documentation available or referenced on the Website or in the Disclosure Library from time to time, which currently include the RHF Use and Risk Disclosures, Product Features Disclosures, Extended Hours Trading Disclosure, ETF Disclosure, the Characteristics and Risks of Standardized Options and the Margin Disclosure Statement.

Supporting quotations

all investments involve risk, that losses may exceed the principal invested

You are solely responsible for all investment decisions associated with your Account including any risks in connection with the purchase or sale of securities (which includes the risk of loss).

You acknowledge and agree to the Risk Disclosures.

As of the date of this Agreement, Risk Disclosures include (without limitation)

Qualifications & exceptions

• The Risk Disclosures definition is open-ended ("without limitation") and tied to documentation as supplemented from time to time.

Not stated here

• The Risk Disclosures documents are not part of this saved text.

Account & Service Control · User right or choice

Defaulted service preferences are optional and you control them once your Account is open

Your Account comes with many defaulted service instruction features and preferences. You are not required to use those defaults and, once the Account is approved and opened, you have sole discretion to control and adjust the defaulted service preferences that relate to your Account.

Supporting quotations

You understand that you are not required to use these defaulted options or preferences and that once your Account is approved and opened, you have the sole discretion to control and adjust such defaulted service preferences that relate to your account.

Qualifications & exceptions

• The choice applies once the Account is approved and opened.

Account & Service Control · Restriction or exception

You must know the rights, terms and expiration dates of your securities; Robinhood need not alert you

You are solely responsible for knowing the rights and terms of securities you buy, sell and hold, including mergers, reorganizations, splits, name or symbol changes, dividends, option symbols and option deliverables. Certain securities, such as bonds, convertibles, warrants, rights and securities subject to exchange offers or tenders, may carry valuable rights that expire unless you act, and you must know all expiration and redemption dates and when rights may expire or be called, cancelled or modified. Robinhood may notify you of upcoming dates or act for you, but is not obligated to, and does not act without specific instructions, except as required by law and regulatory rules.

Supporting quotations

You are solely responsible for knowing the rights and terms for all securities purchased, sold and maintained in your Account

you are solely responsible for knowing all expiration dates, redemption dates, and the circumstances under which rights associated with your securities or Property may expire or be called, cancelled, or modified

Robinhood may, but is not obligated to, notify you of any upcoming expiration or redemption dates, or take any action on your behalf without specific instructions, except as required by law and the rules of regulatory authorities.

Qualifications & exceptions

• Robinhood's notice and action are optional, with an exception for what law and regulatory rules require.

Account & Service Control · Restriction or exception

Confirmations and statements bind you unless you object within two or ten days

You must promptly review order execution confirmations and Account statements. They are binding on you unless you object within two days of the date confirmations are sent or within ten days after statements are sent. An objection may be oral or written, but an oral objection must be confirmed in writing immediately. Robinhood reserves the right to determine whether your objection is valid. If you object to a transaction for any reason, you must act to limit losses and bear sole responsibility for losses relating to it, even if your objection is ultimately found valid. This does not limit your other responsibilities under the Agreement.

Supporting quotations

These documents will be considered binding on you unless you notify us of an objection within two days from the date confirmations are sent or within ten days after Account statements are sent.

Such objection may be oral or in writing, but any oral objection must be immediately confirmed in writing.

In all cases, Robinhood reserves the right to determine the validity of your objection.

you will bear sole responsibility for any losses relating to the transaction, even if your objection to the transaction is ultimately determined to be valid

Qualifications & exceptions

• Two days runs from when confirmations are sent; ten days from when statements are sent.
• You bear losses relating to an objected-to transaction even if the objection is later determined valid.

Cross-references

• contrast (model-proposed): You must review Account Documents and object in writing within five days or they are treated as accurate — contrast: Section 4.6 sets two days (confirmations) and ten days (statements) to object, while Section 34.2 sets five days from delivery (or another stated time) to object to Account Documents, which include statements and trade confirmations. The text does not say which period governs a statement or confirmation delivered electronically.

Security & Safeguards · Restriction or exception

Any order from your credentials is treated as yours, and sharing access is at your own risk

Any instruction or order given for your Account, including through the Platform or with your username or password, is treated as coming from you and fully authorized by you. Robinhood may, but need not, act on oral instructions it reasonably believes you gave. You authorize Robinhood to rely on instructions without further inquiry and agree it is not liable for doing so. You agree not to allow anyone access to your Account, username or password, or let anyone else give orders, without Robinhood's prior consent. If another person has access to your Account, Device, username or password, that is solely at your risk. Robinhood may execute your orders on any exchange or market.

Supporting quotations

Any instruction or order given for your Account, including via the Platform or using your Account username or password, will be treated as being from you and fully authorized by you.

Robinhood shall be entitled (but not required) to act upon any oral instructions given by you so long as Robinhood reasonably believes such instruction was actually given by you

agree that Robinhood will not be liable for doing so

You agree not to allow any person access to your Account, your Account username or password, or permit any other person to give orders or instructions on your Account to Robinhood, without the prior consent of Robinhood.

that is solely at your own risk

Qualifications & exceptions

• Oral instructions: Robinhood is entitled but not required to act, and only if it reasonably believes you gave them.

Charges & Financial Obligations · Permission or license

Robinhood can require full payment in cleared funds, and may liquidate property if funds fall short

Robinhood reserves the right to require full payment in cleared funds before accepting any order, and you agree to pay for purchases immediately or on demand. If you do not provide enough funds, Robinhood may, at its option and without notice, charge a reasonable rate of interest, liquidate the property bought, or sell other Property you hold in your Account, and may charge any consequential Loss to your Account. "Property" includes all monies, securities, contracts, investments and options, whether for present or future delivery, with related distributions, proceeds, products and accessions.

Supporting quotations

Robinhood reserves the right to require full payment in cleared funds prior to the acceptance of any order. You agree to pay for purchases immediately or on Robinhood’s demand.

In the event that you fail to provide sufficient funds, Robinhood may, at its option and without notice, (i) charge a reasonable rate of interest, (ii) liquidate the Property subject of the buy order, or (iii) sell other Property owned by you and held in your Account.

“Property” includes all monies, securities, contracts, investments, and options, whether for present or future delivery, and all related distributions, proceeds, products, and accessions.

Qualifications & exceptions

• The remedies are at Robinhood's option and may be used without notice when funds are insufficient.

Legal Rights & Agreement Rules · Restriction or exception

Support assistance is limited to explaining or entering information and is not investment advice

When you ask Robinhood for support, help or assistance in any form about the Platform, its services, investment tools or anything else it provides (a "Support Request"), the assistance is limited to functional or operational explanation and, if you ask, entering or correcting information or variables you provided. It does not constitute investment advice, an opinion on the suitability of any transaction, or solicitation of orders.

Supporting quotations

that Support Request and assistance provided relating to it will be limited to functional or operational explanation or assistance and, if requested by you, to the entry or correction by Robinhood or its Representatives of information or variables provided by you

does not constitute investment advice, an opinion with respect to the suitability of any transaction, or solicitation of any orders

Qualifications & exceptions

• Data entry or correction by Robinhood is limited to information or variables you provided and only if you request it.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood does not give tax, legal, financial or accounting advice

Robinhood does not provide you any advice, and in particular no tax, legal, financial or accounting advice. You are encouraged to consult your own tax advisor or attorney.

Supporting quotations

Robinhood does not provide any advice to you, and in particular Robinhood does not provide any tax, legal, financial, or accounting advice.

You are encouraged to consult your own tax advisor or attorney.

Account & Service Control · Permission or license

Robinhood can discontinue your Account or services immediately on written notice, including for inappropriate conduct

Robinhood may discontinue your Account or any services related to it immediately by giving you written notice. It does not tolerate foul or abusive language, physical violence, threatening behavior or other inappropriate conduct toward Robinhood or its or its Affiliates' officers, employees, contractors or customers. Such behavior, as determined by Robinhood in its sole discretion, may result in discontinuation of your Account.

Supporting quotations

Robinhood may discontinue your Account or any services related to your Account immediately by providing written notice to you.

Robinhood will not tolerate any foul or abusive language, physical violence, threatening behavior, or other inappropriate conduct directed toward Robinhood or its or its Affiliates’ officers, employees, contractors, or customers.

Any such behavior, as determined by Robinhood in its sole discretion, may result in the discontinuation of your Account.

Qualifications & exceptions

• Discontinuation requires written notice but takes effect immediately; no cause is required by this sentence.
• Whether conduct is inappropriate is determined by Robinhood in its sole discretion.

Account & Service Control · Permission or license

On discontinuance Robinhood may liquidate your Property and close the Account, and is not liable for resulting Losses

If Robinhood discontinues your Account or related services, you authorize it to liquidate any Property in your Account and send you the net proceeds after satisfying any Obligations, and to close your Account. This is in addition to Robinhood's other rights. "Obligations" covers all indebtedness, debit balances, liabilities and other obligations of any kind that you owe Robinhood, existing now or arising later. Robinhood is not responsible for Losses caused by discontinuing the Account or services, liquidating Property or closing the Account, including tax liabilities.

Supporting quotations

Robinhood is authorized to (i) liquidate any Property in your Account and send you any net proceeds (after satisfying any Obligations), and (ii) close your Account.

“Obligations” includes all indebtedness, debit balances, liabilities, or other obligations of any kind of you to Robinhood, whether now existing or hereafter arising.

Robinhood will not be responsible for any Losses caused by Robinhood discontinuing your Account or any services, or any liquidation of your Property, or closure of your Account, including any tax liabilities.

Qualifications & exceptions

• Net proceeds are sent only after Obligations are satisfied.
• The no-responsibility statement expressly includes tax liabilities.

Account & Service Control · Restriction or exception

You may use the Platform only for personal, non-business, non-commercial purposes

You may use the Platform only for your own personal, non-business, non-commercial use.

Supporting quotations

You may only use the Platform for your own personal, non-business, non-commercial use.

Account & Service Control · Restriction or exception

You agree to the terms of Robinhood promotions you join, which may have significant limits

You agree to the terms or conditions of any Robinhood promotions program you participate in, including the Robinhood Stock Referral Program. Such promotions may have significant limitations on eligibility or rewards.

Supporting quotations

You agree to the terms or conditions of any Robinhood promotions programs that you participate in, including but not limited to the Robinhood Stock Referral Program.

any such promotions may have significant limitations on eligibility or rewards

Qualifications & exceptions

• The terms of each promotion are separate from this text and are not reproduced here.

Not stated here

• The promotions programs' own terms are not supplied in this saved text.

Security & Safeguards · Restriction or exception

You may not let others access your Account without consent, but using an AI agent under Section 29 is not restricted

You agree not to let anyone access your Account, username or password, or give orders or instructions on your Account, without Robinhood's prior consent. This restriction does not limit your use of an AI agent in accordance with Section 29. Section 29.8 is headed "Use of AI Agents" and defines "AI agent" as software using artificial intelligence to view Account information or place orders in your Account, through an API Product or within the Robinhood app.

Supporting quotations

You agree not to allow any person access to your Account, or your Account username or password, or permit any other person to give orders or instructions on your Account to Robinhood, without the prior consent of Robinhood.

This Section does not restrict your use of an AI agent in accordance with Section 29.

an "AI agent" means software that uses artificial intelligence to view Account information or to place orders in your Account, whether you access that software through an API Product or within the Robinhood app

Qualifications & exceptions

• The AI agent carve-out applies only to use "in accordance with Section 29".

Account & Service Control · Permission or license

Robinhood may allow a Third Party Authorized Representative; you bear the risk and their orders count as yours

Robinhood may, in its sole discretion and subject to conditions it may require, let you appoint a duly authorized representative or agent (a "Third Party Authorized Representative"). You are solely responsible for the risks of that representative, including their actions, decisions and conduct. You instruct Robinhood to treat the representative's orders and instructions as coming from you and to assume they are valid and authorized without further inquiry. An AI agent is not a Third Party Authorized Representative for this Section.

Supporting quotations

Robinhood may in its sole discretion from time to time permit you to appoint your duly authorized representative or agent to act on your behalf with respect to your Account

You are solely responsible for any risks associated with your Third Party Authorized Representative

to assume that such order and instruction is valid and authorized without further inquiry

An AI agent is not a Third Party Authorized Representative for purposes of this Section.

Qualifications & exceptions

• Appointment is at Robinhood's sole discretion and subject to conditions it may require.
• An AI agent is excluded from this category.

Account & Service Control · Restriction or exception

Robinhood will not verify a representative's authority, and you are bound and irrevocably ratify their actions

Robinhood is not responsible for determining, and will not determine, whether a Third Party Authorized Representative has authority to act generally or specifically on your Account or Property, or the validity of their status or capacity. You are bound by any order or instruction the representative gives and irrevocably ratify any action they take in connection with your Account.

Supporting quotations

Robinhood is not responsible for determining and will not determine whether any Third Party Authorized Representative has authority to perform any actions generally or specifically with respect to your Account or your Property

You will be bound by any order or instruction given by your Third Party Authorized Representative, and irrevocably ratify any action taken by your Third Party Authorized Representative connected with your Account.

Account & Service Control · Restriction or exception

You must have and keep the latest Robinhood App; Robinhood is not responsible for losses from outdated software

To keep an account on the Platform you must download, or on Robinhood's request be able to download, the Mobile App for security or other account-related purposes. Robinhood will release App updates from time to time and you are responsible for downloading and upgrading your software and keeping the latest App version on your mobile device. Not doing so may show you out-of-date, missing or incorrect content, including important disclosures and agreement updates, and may affect your access to your Account. Robinhood is not responsible for Losses caused by outdated software or failure to download the App.

Supporting quotations

Robinhood requires that to maintain an account on the Platform, you must download, or upon Robinhood’s request, be able to download, the Mobile App to your mobile device

you are responsible for downloading and upgrading your software and maintaining the latest version of the App on your mobile device

Failing to do so may result in you encountering content that contains out-of-date, missing or incorrect information including, among other things, important disclosures and agreement updates, and may impact your ability to access your Account.

Robinhood will not be responsible for any Losses caused by your use of outdated software or failure to download the App on your mobile device.

Qualifications & exceptions

• The download requirement is stated as a condition for maintaining an account on the Platform for certain security or other account-related purposes.

Security & Safeguards · Restriction or exception

You alone must safeguard your credentials and Devices; compromise can mean third-party access

To set up and access your Account you will create or be given security details such as a username and password. You are solely responsible for monitoring and safeguarding your Account and access, for keeping your username, password and other Account details safe and secret at all times, and for the safety of any device you use (a "Device"), including taking all reasonable steps against loss, theft or misuse, such as using passcodes or biometric login. Loss or compromise of your Device, email account, username, password or other security details may result in unauthorized access to your Account by third parties.

Supporting quotations

You are solely responsible for monitoring and safeguarding your Account and access to your Account.

This includes taking all reasonable steps to avoid the loss, theft, or misuse of such Device

Any loss or compromise of your Device, your email account, your Account username or password, or other security details, may result in unauthorized access to your Account by third parties.

Security & Safeguards · Restriction or exception

You must notify Robinhood within 24 hours of any Potential Fraudulent Event

You must notify Robinhood immediately and in any event within 24 hours if you become aware of: loss, theft or unauthorized use of your Account, credentials or Device; failure to receive an Account communication such as an order confirmation or statement; receipt of an Account communication you do not recognize; inaccurate information about your orders, trades, margin status, balances, deposits, withdrawals, positions or history; a security notification of an event you do not recognize; or any other unauthorized use or access. Each such event is a "Potential Fraudulent Event".

Supporting quotations

You agree to immediately notify Robinhood immediately and in any event within 24 hours if you become aware of

any failure by you to receive any Account communication such as confirmation of an order or a statement

Each of the events described in (i)-(vi) of this clause will be a “Potential Fraudulent Event”.

Qualifications & exceptions

• The 24-hour limit applies from when you become aware of the event.

Security & Safeguards · Restriction or exception

You must report, cooperate, allow device and network access, and indemnify Robinhood for Potential Fraudulent Events

When Robinhood asks, you must report any Potential Fraudulent Event promptly to legal authorities and give Robinhood a copy of their report. You must cooperate fully with the authorities and Robinhood in any investigation and complete required affidavits promptly, accurately and thoroughly. You agree to let Robinhood access your Device and network in connection with its investigation. Failing to do these things may cause delays in regaining access to funds in your Account. You agree to indemnify and hold harmless Robinhood, its Affiliates and their officers, directors and employees from Losses arising out of or relating to any Potential Fraudulent Event.

Supporting quotations

Upon request by Robinhood, you agree to report any Potential Fraudulent Event promptly to legal authorities and provide Robinhood a copy of any report prepared by such legal authorities.

You agree to allow Robinhood access to your Device, and your network in connection with Robinhood’s investigation of any Potential Fraudulent Event.

if you fail to do any of these things, you may encounter delays in regaining access to the funds in your Account

You agree to indemnify and hold Robinhood, its Affiliates, and their respective officers, directors, and employees harmless from and against any Losses arising out of or relating to any Potential Fraudulent Event.

Qualifications & exceptions

• Reporting to authorities is required "upon request by Robinhood".
• The indemnity covers Losses arising out of or relating to any Potential Fraudulent Event, not only those you caused.

Sharing & Disclosure · Permission or license

Robinhood may contact your Trusted Contact Person and share Account information with them

Robinhood is authorized under FINRA rules to contact the Trusted Contact Person designated for your Account and to disclose information about any account owners, the account the contact was provided for, other Robinhood accounts they have an interest in, or other information the owners provided. Robinhood may contact the person to address possible fraud or financial exploitation, confirm your contact details, address health-status concerns, confirm the identity of a guardian, executor, trustee or power-of-attorney holder, or for other reasons FINRA Rule 2165 permits. Robinhood has no obligation to contact the person, and the person cannot make investment decisions or transact business for you. Designating a Trusted Contact is optional, and you may change or withdraw it by notifying Robinhood. The contacts must be 18 or older. With multiple owners, Robinhood may follow any one or more owners in adding a Trusted Contact and is not liable for information shared regardless of which owner authorized it. Robinhood is released from all claims arising from releasing, or failing to release, information to the Trusted Contact Person.

Supporting quotations

Robinhood is authorized to contact the “Trusted Contact Person” (as defined by FINRA Rule 4512) designated for your Account and to disclose information about any of the account owners

(1) to address possible fraud or financial exploitation; (2) to confirm the specifics of your current contact information; (3) if there are questions or concerns about your health status

the Trusted Contact authorization does not impose any obligation that Robinhood communicate with your Trusted Contact Person(s)

designation of a Trusted Contact Person is optional and you may change or withdraw it at any time by notifying Robinhood

if there are multiple account owners, Robinhood is authorized to follow the instructions of any one or more account owners in adding a Trusted Contact Person, and Robinhood will not be held liable for information shared with a Trusted Contact Person without regard to which account owner authorized the designation of the Trusted Contact Person

Robinhood is released and discharged from all claims, causes of action, damages, losses, expenses, costs and liabilities of any kind that may arise out of, relate to, or are in connection with the release of, or failure to release, personal and/or account information to the Trusted Contact Person(s)

Qualifications & exceptions

• Contact reasons are the five listed, including any other reason FINRA Rule 2165 permits.
• The release of claims covers both releasing and failing to release information.

Legal Rights & Agreement Rules · Restriction or exception

You release Robinhood from claims over releasing, or not releasing, information to a Trusted Contact

Robinhood is released and discharged from all claims, causes of action, damages, losses, expenses, costs and liabilities of any kind arising out of or connected with releasing, or failing to release, personal or account information to the Trusted Contact Person or Persons.

Supporting quotations

Robinhood is released and discharged from all claims, causes of action, damages, losses, expenses, costs and liabilities of any kind that may arise out of, relate to, or are in connection with the release of, or failure to release, personal and/or account information to the Trusted Contact Person(s).

Qualifications & exceptions

• The release covers both disclosing and failing to disclose information to the Trusted Contact.

Data Access & Collection · Company practice

Federal anti-money-laundering rules require Robinhood to collect and verify your identifying information

Federal law, to help fight terrorism financing and money laundering, requires Robinhood to obtain, verify and record information identifying each person who opens an account. When you open or apply for an Account Robinhood will ask for your name, U.S. residential address, date of birth, social security number, telephone number, citizenship and other identifying information. It may also ask for copies of a driver's license, passport or other unexpired government-issued photo identification or other identifying documents, and may later ask you to confirm or reverify your identity or provide additional documents as necessary.

Supporting quotations

federal law requires Robinhood to obtain, verify, and record information that identifies each person who opens an account

Robinhood will ask for your name, U.S. residential address, date of birth, social security number, telephone number, citizenship, and other identifying information that will allow Robinhood to identify you

Robinhood may also ask for copies of your driver’s license, passport, other unexpired, government-issued identifying documents with a photograph, or other identifying documents

From time to time, Robinhood may ask you to confirm or reverify your identity, or may require that you provide certain additional documents, as necessary.

Qualifications & exceptions

• Reverification and additional documents can be requested "from time to time".

Data Access & Collection · Permission or license

Robinhood may check your information with outside sources, restrict access pending verification, and needs updates

Robinhood may take steps to verify the accuracy of information in your application or otherwise. You authorize Robinhood, its agents or third-party vendors to contact any person or firm named in your information, or any other normal sources of debit or credit information and similar databases, and you authorize them to furnish information about you that Robinhood requests or requires. Robinhood may restrict your access to the Account pending verification. You must promptly notify Robinhood of changes to your name, address, email address and telephone number.

Supporting quotations

You authorize Robinhood or its agents or third-party vendors to contact any person or firm noted therein or in any other information you may provide to Robinhood from time to time, or any other normal sources of debit or credit information and other similar databases, and authorize any such person or entity to furnish such information about you as may be requested or required by Robinhood.

You acknowledge that Robinhood may restrict your access to your Account pending such verification.

You will provide prompt notification to Robinhood of any changes in the information including your name, address, e- mail address, and telephone number.

Qualifications & exceptions

• Authorization covers contacting the persons or firms in your information and normal sources of debit or credit information and similar databases.

Data Access & Collection · Permission or license

Robinhood Financial may obtain and share creditworthiness reports and keep your records

You authorize Robinhood Financial to obtain reports, and provide information to others, concerning your creditworthiness and business conduct. On your request it will give you a copy of any report it obtained. Robinhood may keep the Agreement, the Account application and all related documents and records at its sole discretion, whether or not credit is extended.

Supporting quotations

You authorize Robinhood Financial to obtain reports and provide information to others concerning your creditworthiness and business conduct.

Upon your request, Robinhood Financial agrees to provide you a copy of any report so obtained.

Robinhood may retain this Agreement, the Account application, and all other such documents and their respective records at its sole discretion, whether or not credit is extended.

Qualifications & exceptions

• Authorization runs to Robinhood Financial and covers both obtaining reports and providing information to others.

Not stated here

• The text does not say which other parties receive creditworthiness information or under what limits.

Legal Rights & Agreement Rules · Restriction or exception

You certify sanctions compliance: not an OFAC-designated person or tied to a sanctioned regime

You acknowledge that Robinhood has OFAC sanctions compliance obligations and that the Agreement and your Account are subject to U.S. sanctions laws. You will not permit your Account or sub-accounts to be used in a way that violates them. You represent and warrant that you are not designated by OFAC as a Specially Designated National, have no reason to believe you would be treated as a blocked person, and are not acting as an agent of any such person. Where OFAC has imposed restrictive measures on a government or regime, you further warrant that you are not employed by or acting as an agent of an entity owned or controlled by a sanctioned regime, a government-controlled entity of it, or a government corporation of it.

Supporting quotations

this Agreement, your Account, and any sub-accounts are subject to U.S. sanctions laws, rules, and regulations where you will not permit your Account or sub-accounts to be used in a manner that would cause a violation of the above referenced laws, rules, and regulations

you have not been designated by OFAC as a Specially Designated National (“SDN”), that you have no reason to believe that you would be considered a blocked person by OFAC, and that you are not acting as an agent of any such person

(2) a government-controlled entity of a sanctioned regime, or (3) a government corporation of a sanctioned regime

Qualifications & exceptions

• The sanctioned-regime warranty applies where OFAC has promulgated restrictive measures against a government or regime.

Account & Service Control · Restriction or exception

Robinhood may restrict your Account and cancel orders for sanctioned or restricted jurisdictions

You consent to Robinhood restricting your Account or sub-accounts and canceling pending orders to the extent Robinhood believes you are accessing them from a jurisdiction subject to comprehensive OFAC sanctions or any jurisdiction where Robinhood has made a risk-based decision to restrict use of its application and website. If that happens you should contact help@robinhood.com and may be asked for supplemental information. You must notify Robinhood and close your Account or sub-accounts before establishing residency in any jurisdiction subject to U.S. sanctions. Robinhood is not liable for Losses, including trading losses, from these measures.

Supporting quotations

you acknowledge and consent to Robinhood restricting your Account and/or any sub-accounts and canceling any pending orders to the extent Robinhood believes you are accessing these from (1) a jurisdiction that is subject to comprehensive sanctions by OFAC or (2) any jurisdiction Robinhood has made a risk-based decision to restrict access to use of its application and website

you agree that you will notify Robinhood and close your Account and/or any subaccounts before establishing residency in any jurisdiction subject to U.S. sanctions

Robinhood is not liable for any Losses, including any trading losses, that you may suffer as a result of the foregoing.

Qualifications & exceptions

• The restriction applies to the extent Robinhood believes you are accessing from a sanctioned or restricted jurisdiction.
• Robinhood's non-liability expressly includes trading losses.

Account & Service Control · Restriction or exception

You certify you are not a Politically Exposed Person and must report if you become one

You represent and warrant that you are not a Politically Exposed Person (PEP). If you are or become a PEP while holding an Account or sub-accounts, you must immediately notify Robinhood and submit to any due diligence measures it considers appropriate. A PEP is a person who is or was, or is an immediate family member (spouse, parent, sibling, child, in-law or dependent) or close associate of, a senior non-U.S. government official in the executive, legislative, administrative, military or judicial branches, a senior official of a major non-U.S. political party, a senior executive of a non-U.S. government-owned entity, or a foreign individual entrusted with a prominent public function. A senior official or executive has substantial authority over policy, operations or government-owned resources.

Supporting quotations

You represent and warrant that you are not a PEP. To the extent you are or become a PEP in the future while you hold your Account or any subaccounts at Robinhood, you represent and warrant that you will immediately notify Robinhood and subject yourself to any due diligence measures deemed appropriate by Robinhood.

A PEP is an individual who is/was or is an immediate family member (spouse, parent, sibling, children, in- law, or dependent) or close associate

A senior official or executive includes an individual with substantial authority over policy, operations, or the use of government-owned resources.

Qualifications & exceptions

• PEP status covers family members and close associates, not only the officials themselves.

Legal Rights & Agreement Rules · Restriction or exception

All transactions follow Applicable Laws, and Robinhood need not act where it believes that could violate law

All transactions in your Account are subject to all Applicable Laws. Robinhood is never obligated to effect a transaction, provide a service or take an action that it believes would or might violate or be contrary to applicable laws. The test is Robinhood's belief that an action "would or might" violate law.

Supporting quotations

All transactions in your Account will be subject to all Applicable Laws.

In no event will Robinhood be obligated to effect any transaction or provide any service or take any action that it believes would or might violate or be contrary to any applicable laws.

Qualifications & exceptions

• The threshold is Robinhood's belief that the action would or might violate law, not a finding that it does.

Charges & Financial Obligations · Restriction or exception

You must return assets sent to you in error and pass on dividends received on shares you already sold

You must promptly return to Robinhood any assets erroneously distributed to you. If you sell a security before its ex-dividend or distribution date and still receive the related cash or stock dividend or distribution in error, you irrevocably direct Robinhood to pay it to the entitled purchaser and guarantee to promptly reimburse Robinhood for, or deliver to it, that dividend or distribution.

Supporting quotations

You agree to promptly return to Robinhood any assets erroneously distributed to you.

In the event that you sell a security prior to its ex-dividend/distribution date, and you receive the related cash/stock dividend or distribution in error, you irrevocably direct Robinhood on your behalf to pay such dividend/distribution to the entitled purchaser of the securities, and guarantee to promptly reimburse Robinhood for, or deliver to Robinhood, said dividend or distribution.

Qualifications & exceptions

• The sell-before-ex-date direction applies where you receive the dividend or distribution in error.

Charges & Financial Obligations · Permission or license

Funds arriving after your Account is closed may be applied to your obligations or moved to an Affiliate account

If your Account is cancelled, closed or terminated for any reason and Robinhood later receives funds meant for it, Robinhood may apply the funds to any obligations you have in the Account and/or transfer them to the balance of any active account you own with a Robinhood Affiliate.

Supporting quotations

In the event Your Account is cancelled, closed, or terminated for any reason and thereafter Robinhood receives funds to be applied to your Account, Robinhood reserves the right to apply the funds to any obligations you may have in your Account and/or transfer the funds to the balance of any active account you may own with a Robinhood Affiliate.

Qualifications & exceptions

• Applies for any reason the Account was cancelled, closed or terminated.

Account & Service Control · Procedure

Reactivating an Account after a full transfer-out rescinds the transfer and stops credit balances moving

If you ask to transfer all assets from an Account to another brokerage firm and then reactivate the Account, you are rescinding any instruction to transfer securities or other assets from the Account and instructing Robinhood not to transfer credit balances that accrue in the Account to the other firm.

Supporting quotations

if you request that all assets be transferred from an Account to another brokerage firm and subsequently reactivate that Account, you are (i) rescinding any instruction to transfer securities or other assets from the Account and (ii) instructing Robinhood not to transfer credit balances that accrue in the Account to the other brokerage firm

Charges & Financial Obligations · Restriction or exception

Orders execute at the market price, which may differ from the quote; Robinhood Financial is not liable for swings

Whether you place a market or limit order, you receive the price at which the order executes in the marketplace. In periods of high volume, illiquidity, fast movement or volatility, the price you get may differ from the quote at entry and you may receive partial executions at different prices. Robinhood Financial is not liable for any price fluctuations. Quotes generally cover only a small number of shares set by the marketplace, so larger orders are more likely to execute at varying prices or in multiple lots.

Supporting quotations

you will receive the price at which your order is executed in the marketplace

the execution price received may differ from the quote provided on entry of an order, and you may receive partial executions of an order at different prices

Robinhood Financial is not liable for any price fluctuations

larger orders are relatively more likely to receive executions at prices that vary from the quotes or in multiple lots at different prices

Qualifications & exceptions

• The non-liability statement is made by Robinhood Financial and refers to price fluctuations.

Charges & Financial Obligations · Company practice

Default equity order type may be a market order or a limit order preset 2% from the last Nasdaq trade price

The default order type when entering an equity order on the Platform may be, as disclosed during order entry, a market order, a limit order with a preset limit price 2% above (buy) or 2% below (sell) the last reported trade price on a Nasdaq exchange at the time of entry, or a limit order at a price you set. For a preset limit price, Robinhood multiplies the last trade price by 1.02 for buys or 0.98 for sells. If the last trade price is over $1.00 it rounds down to two decimals for buys and up to two decimals for sells; otherwise it rounds down to four decimals for buys and up to four decimals for sells. You can see the preset limit price on the order review summary screen.

Supporting quotations

The default order type when entering an equity order via the Platform may be, as disclosed during the order entry process, either (i) a market order, (ii) a limit order with a preset limit price set at 2% above (if a buy order) or 2% below (if a sell order) the last reported trade price for the security on a Nasdaq exchange

the last trade price for the security is (i) multiplied by 1.02 (for buy orders) or 0.98 (for sell orders); and (ii) if the last trade price is over $1.00, rounded down to two decimal places (for buy orders) or rounded up to two decimal places (for sell orders); otherwise, rounded down to four decimal places (for buy orders) or rounded up to four decimal places (for sell orders)

You can review the preset limit price on the Platform’s order review summary screen.

Qualifications & exceptions

• The default type "may be" any of the three, as disclosed during order entry.
• Rounding differs by direction (buy rounds down, sell rounds up) and by whether the last trade price is over $1.00.

Charges & Financial Obligations · Restriction or exception

Market orders can fill at a very different price on a later day; limit orders may not fill

Securities may open at prices substantially above or below the prior close or what you expected. If you place a market order at any time, you agree to pay or receive the prevailing market price when it executes, which may be on a later trading day, and the price may be significantly higher or lower than expected. To avoid buying at a higher price and possibly exceeding your purchasing power, you may enter a limit order with a limit price. Limit orders may not execute within a particular period, or at all, if there is not enough trading at or better than your limit price, and are subject to any time-in-force restrictions. The Website has more information on order types and limitations, which you agree to read and understand before placing such orders.

Supporting quotations

If you place a market order (irrespective of when you place it), you agree to pay or receive the prevailing market price at the time your market order is executed, which execution may occur on a subsequent trading day.

limit orders may not be executed within a particular period of time, or at all, if there is not sufficient trading at or better than the limit price you specify, and are subject to any applicable time-in- force restrictions

The Website contains further information regarding order types and limitations, which you agree to read and understand before placing such orders.

Qualifications & exceptions

• A market order may execute on a subsequent trading day irrespective of when you place it.
• The further order-type information is on the Website and is not part of this saved text.

Not stated here

• The Website's order type and limitation information is not supplied.

Charges & Financial Obligations · Company practice

24 Hour Market limit orders can execute nearly around the clock, and late orders take the next trade date

If Robinhood 24 Hour Market trading is available to you and you enter an eligible limit order, it could execute between 12 a.m. and 8 p.m. ET on a full trading day (Monday to Friday except exchange holidays and half-days), between 12 a.m. and 5 p.m. ET on an exchange half-day, and between 8 p.m. and 12 a.m. ET on the day before a full trading day or half-day. An order executed between 8 p.m. and 12 a.m. ET has the following full or half trading day as its trade date, including for clearance, settlement, tax reporting, dividends and other corporate actions.

Supporting quotations

If Robinhood 24 Hour Market trading is available to you and you enter a limit order that is eligible for execution during the Robinhood 24 Hour Market

such orders could be executed between 12 a.m. and 8 p.m. ET on a full trading day

the trade date for an order that is executed between 8 p.m. and 12 a.m. ET (the last four hours of a day) is the following full trading day or half-day (including for purposes of clearance, settlement, tax reporting, dividends, and other corporate actions)

Qualifications & exceptions

• Applies only if Robinhood 24 Hour Market trading is available to you and the limit order is eligible for it.

Charges & Financial Obligations · Restriction or exception

24 Hour Market orders are at your risk and are treated as "not held" orders giving Robinhood price and time discretion

For 24 Hour Market limit orders you are responsible for the risks of entering them, including the risks of Extended Hours Trading described in the Extended Hours Trading Disclosure. Robinhood deems each such order a "not held" order, meaning you have given Robinhood discretion over the price and time of execution.

Supporting quotations

(3) you are responsible for the risks associated with the entry of such orders, and such risks include the risks of Extended Hours Trading described in the Extended Hours Trading Disclosure

(4) Robinhood deems each such order to be a “not held” order, i.e., an order with respect to which you have granted Robinhood discretion with respect to the price and time of execution

Qualifications & exceptions

• Risks include those described in the Extended Hours Trading Disclosure, which is not part of this saved text.

Charges & Financial Obligations · Company practice

24 Hour Market orders may go to principal market makers and dark venues with thin liquidity and no price protection

Robinhood routes 24 Hour Market orders to one or more market centers ("24H Market Makers"), which may execute on a principal basis or route onward. Between 8 p.m. and 4 a.m. ET ("Overnight Hours") orders are routed to 24H Market Makers that may execute as principal or route to alternative trading systems ("24H ATS"). Those ATSs need not display prices publicly and may have very limited liquidity or high volatility. Such an order may not be price protected and may execute at a price worse than prices available at other venues.

Supporting quotations

(5) Robinhood will route such orders to one or more market centers (each a “24H Market Maker”), which may execute an order on a principal basis or route the order for execution to one or more other market centers

(7) the 24H ATSs are not required to display prices publicly and may have very limited liquidity and/or high volatility

(8) such an order may not be price protected and so may be executed by a market center at a price that is worse than prices available at other execution venues

Qualifications & exceptions

• The price-protection warning is stated as "may not be", not as a certainty.

Charges & Financial Obligations · Company practice

Unexecuted 24 Hour Market orders are cancelled and re-routed at session changes, with a gap in eligibility

If a 24 Hour Market order is unexecuted at or shortly before the start of the next Overnight Hours session, it is cancelled and, subject to its time-in-force instructions, re-routed to 24H Market Makers. If unexecuted at or shortly before the end of the Overnight Hours session, it is cancelled and, subject to its time-in-force instructions, re-routed to 24H Market Makers, who may execute it as principal or route it to another market center. When an order is cancelled and re-routed this way, it is not eligible for execution between cancelation and re-routing.

Supporting quotations

(9) if the order is unexecuted as of the beginning of, or shortly before, the next Overnight Hours session, the order will be canceled and, subject to the order’s time-in-force instructions, re-routed to one or more 24H Market Makers

(10) if the order is unexecuted as of the end of, or shortly before the end of, the Overnight Hours session, the order will be canceled and, subject to the order’s time-in-force instructions, re-routed

(11) if the order is canceled and re-routed as described in (9) or (10) above, the order will not be eligible for execution during the period of time between the cancelation of the order and its re-routing

Qualifications & exceptions

• Re-routing is subject to the order's time-in-force instructions.

Charges & Financial Obligations · Company practice

Queued Orders run after the next open in received order, and may be cancelled if buying power is short

You can place certain orders in a queue for execution the following trading day ("Queued Order"). Queued Order requests are prioritized in the order received and are sent for execution after the opening of normal market trading (9:30 a.m. to 4:00 p.m. ET) or pre-market trading (7:00 a.m. to 9:30 a.m. ET), depending on your instruction. If you queue buy orders and buying power is insufficient at the open, Robinhood will endeavor to cancel one or more of the Queued Order requests in the order received until you have enough buying power for the rest. Queued Orders with fractional share components may be aggregated with other such orders. Orders outside Market Hours are subject to the Extended Hours Trading Disclosure.

Supporting quotations

Queued Order requests are prioritized based on the order in which they are received

Robinhood will endeavor to cancel one or more of the Queued Order requests in the order in which they were received until you have sufficient buying power for the remaining Queued Order requests

orders based on Queued Orders with fractional share components may be aggregated with other such orders

Orders placed outside of Market Hours are subject to the Extended Hours Trading Disclosure.

Qualifications & exceptions

• Cancellation for insufficient buying power follows the order in which requests were received and is stated as an endeavor.

Charges & Financial Obligations · Company practice

Good-til-cancelled limit orders last up to 90 days and re-route daily; Robinhood may cancel any open order

A good-til-cancelled (GTC) limit order stays valid until it executes, you cancel it, 90 days pass from placement (Eastern Time), or the related contract is closed. A GTC order set to execute only during Market Hours stands only through Market Hours sessions. One set for Market Hours or Extended Hours (Pre-Market Hours plus After Hours, 4:00 p.m. to 8:00 p.m. ET) stands through both. Unexecuted GTC orders are re-routed at the start of the next appropriate session every day while valid. GTC orders are treated as "do not reduce" orders. Robinhood may in its discretion cancel any open orders to buy or sell securities without notice.

Supporting quotations

A limit order designated as “good-’til-cancelled” (“GTC”) means the order remains valid until (A) it is executed; (B) you cancel the order; (C) 90 days from when the order is placed (based on Eastern Time); or

(D) the contract to which it relates is closed.

You further agree that any GTC orders you place should be treated as “do not reduce” orders.

Robinhood may in its discretion cancel any open orders for the purchase or sale of any securities without notice.

Qualifications & exceptions

• The 90-day limit is measured from when the order is placed, in Eastern Time.
• Robinhood's right to cancel open orders is at its discretion and without notice.

Charges & Financial Obligations · Company practice

Options orders go to other broker-dealers, which may handle them in ways that affect speed and likelihood of execution

All options trades must occur on an exchange. Robinhood routes all options orders to other broker-dealers, who at their discretion and subject to best execution obligations may route to exchanges, join price improvement mechanisms there, or direct orders to other market makers or floor brokers. An order may be displayed on an exchange at a price better than its limit price at entry. These practices may affect execution speed and likelihood of execution and may involve the risk of adverse market movement. Robinhood Securities receives payment for order flow from the market centers that handle its options and whole-share stock orders; for options the payment is a flat rate based on the underlying symbol.

Supporting quotations

Robinhood routes all options orders to other broker-dealers for execution.

Executing broker-dealers, at their discretion and subject to their best execution obligations, may handle orders by routing them to exchanges, participating in price improvement mechanisms on those exchanges, or directing orders to other market makers or floor brokers for execution on an exchange.

The above practices by executing broker-dealers may affect execution speed and the likelihood of execution and may involve the risk of adverse market movement.

Robinhood Securities receives payment for order flow from those market centers and shares revenue with Robinhood Financial.

Qualifications & exceptions

• The executing broker-dealers act "at their discretion and subject to their best execution obligations".
• The payment-for-order-flow description comes from the Equity Orders and Payment For Order Flow section and is a cross-reference here.

Account & Service Control · Company practice

Robinhood may apply risk controls that queue or cancel your orders

Robinhood may implement certain risk controls to help minimize adverse market impact. As a result your order may be queued and/or cancelled.

Supporting quotations

Robinhood may implement certain risk controls to assist in minimizing adverse market impact. This may result in your order being queued and/or cancelled.

Not stated here

• The text does not say what the risk controls are or what triggers them.

Charges & Financial Obligations · Restriction or exception

Bulletin Board and pink sheet stocks carry added risk, and Robinhood Financial may require limit orders

Bulletin board, pink sheet and other thinly traded securities ("Bulletin Board Stocks") are less liquid and more volatile than actively traded exchange-listed securities. They may have different trading rules and systems, and you may see significant delays in executions, execution reports and quote updates. Robinhood Financial, in its sole discretion, may require limit orders for certain Bulletin Board Stock transactions.

Supporting quotations

Bulletin board, pink sheet and other thinly-traded securities (collectively “Bulletin Board Stocks”) present particular trading risks, in part because they are relatively less liquid and more volatile than actively traded securities listed on a major exchange.

you may encounter significant delays in executions, reports of executions, and updating of quotations in trading Bulletin Board Stocks

Robinhood Financial in its sole discretion may require limit orders on certain Bulletin Board Stock transactions.

Qualifications & exceptions

• The limit-order requirement is for "certain" transactions and is at Robinhood Financial's sole discretion.

Content & IP Rights · Restriction or exception

Content on the Platform gives you no rights, cannot be reused commercially, and access can be ended at any time

Robinhood may provide news, articles, commentary, research, links to outside sites and other information on the Platform ("Content"), excluding brokerage services. Content may be prepared by third-party Providers unaffiliated with Robinhood. Providing Content does not give you rights over it. You may not reproduce, sell, market, distribute or otherwise commercially use Content. Robinhood may terminate your access to the Content at any time.

Supporting quotations

If we provide or make Content available to you, this does not grant you any rights over or in that Content.

You may not and agree that you will not reproduce, sell, market, distribute, or otherwise commercially use the Content in any manner.

Robinhood may terminate your access to the Content at any time.

Qualifications & exceptions

• Content excludes brokerage services.

Content & IP Rights · Restriction or exception

Content is "as is", not advice, and Robinhood publishes no first-party buy, sell or hold research

Content is provided "as is" and "as available" and is not advice or a recommendation to you or about your Account or to buy or sell any security or follow any strategy. Your use of Content is at your own risk, and Robinhood makes no express or implied warranty about it, including its accuracy, completeness or timeliness. Robinhood does not produce first-party research giving buy, sell or hold recommendations, ratings or price targets. Content that Robinhood or its associated persons prepare is for informational and educational purposes only and is not research or a recommendation. Views in third-party Content are not Robinhood's views, and Robinhood is not responsible for third-party websites or anything connected with them.

Supporting quotations

Content is provided or made available to you on an “as is” and on an “as available” basis and should not be considered as any form of advice or recommendation for you or your Account

We do not make any warranty of any kind, express or implied, regarding the Content or the accuracy, completeness, timeliness, or otherwise of the Content.

Robinhood does not produce or provide first-party research providing specific investment strategies such as buy, sell, or hold recommendations, first-party ratings, or price targets.

Any views expressed in any third-party Content are not the views of Robinhood. Robinhood is not responsible for any third-party website or anything contained on or connected with any third-party website.

Account & Service Control · Permission or license

Robinhood may restrict access, deposits, withdrawals, trading or terminate your Account at any time without notice

Robinhood may at any time, at its sole discretion and without prior notice, prohibit or restrict your access to the Platform or related services, restrict your ability to deposit, withdraw or trade securities, or terminate your Account. Closing the Account does not affect rights or obligations either party incurred before the closing date.

Supporting quotations

Robinhood may at any time, at its sole discretion and without prior notice to you: (i) prohibit or restrict your access to the use of the Platform or related services; (ii) restrict your ability to deposit or withdrawal funds, or trade securities in your Account, or (iii) terminate your Account.

The closing of your Account will not affect the rights or obligations of either party that are incurred prior to the date your Account is closed.

Qualifications & exceptions

• No prior notice is required and no cause is stated for these measures.
• Rights and obligations incurred before closing survive closure.

Account & Service Control · Permission or license

Robinhood may restrict withdrawals or trading on suspicion of fraud or disputes and is not liable for the result

Robinhood may restrict an Account from withdrawals or trading for reasons that include, but are not limited to, reasonable suspicion of fraud, diminished capacity or inappropriate activity, or reasonable notice that ownership of some or all of the assets is in dispute. Robinhood is not liable for any loss you may incur because it refuses to permit a deposit, withdrawal or transaction.

Supporting quotations

Robinhood may restrict your Account from withdrawals or trading for, but not limited to, the following reasons: if there is a reasonable suspicion of fraud, diminished capacity, inappropriate activity, or if Robinhood receives reasonable notice that ownership of some or all of the assets in your Account are in dispute.

Robinhood shall not be liable for any loss that you may incur due to Robinhood’s refusal to permit any deposit, withdrawal or transaction.

Qualifications & exceptions

• The listed reasons are examples ("but not limited to").

Charges & Financial Obligations · Permission or license

On your breach or default Robinhood has the rights of a secured creditor

If you breach or default under the Agreement, Robinhood has all rights and remedies of a secured creditor under applicable laws, in addition to the rights and remedies the Agreement provides.

Supporting quotations

In the event of a breach or default by you under this Agreement, Robinhood shall have all rights and remedies available to a secured creditor under all applicable laws and in addition to the rights and remedies provided herein.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood services are used at your sole risk and provided "as is" without warranties

You agree that using the Platform or any other service from Robinhood or its Affiliates is at your sole risk. Robinhood services, including the Platform, Market Data, Content and any other information from Robinhood, an Affiliate or any third-party content or market data provider, are provided "as is" and "as available" without warranties of any kind, express, implied or statutory. That covers timeliness, truthfulness, sequence, completeness, accuracy, freedom from interruption, implied warranties from trade usage, course of dealing or performance, and the implied warranties of merchantability or fitness for a particular purpose. The exception is warranties implied by law that cannot be excluded, restricted or modified under the laws applicable to the Agreement.

Supporting quotations

You agree that your use of the Platform or any other service provided by Robinhood or its Affiliates is at your sole risk.

is provided on an "as is," "as available" basis without warranties of any kind, either express or implied, statutory

other than those warranties which are implied by and incapable of exclusion, restriction or modification under the laws applicable to this Agreement

Qualifications & exceptions

• Does not disclaim warranties that are implied by law and incapable of exclusion, restriction or modification.

Legal Rights & Agreement Rules · Restriction or exception

Beta features are experimental, unwarranted and can be changed or discontinued at any time

Robinhood may from time to time offer new "beta" features or tools for users to experiment with. They are offered solely for experimental purposes without warranty of any kind and may be modified or discontinued at Robinhood's sole discretion. The warranty disclaimers in this section apply with full force to them.

Supporting quotations

Such features or tools are offered solely for experimental purposes and without any warranty of any kind, and may be modified or discontinued at Robinhood’s sole discretion.

The provisions of this section apply with full force to such features or tools.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood Parties are not responsible for losses from service interruptions, unless they violate the Agreement or rules

Robinhood works to make the Platform and other channels available around the clock but does not guarantee they will be available and error free at all times; interruptions for maintenance, Platform changes or system failures may occur. Robinhood, its Affiliates, their officers, directors, employees and agents, and the Providers (the "Robinhood Parties") will not be responsible to you or third parties for Losses from such interruptions, which are defined to include claims, damages, actions, demands, investment losses and costs, charges and attorneys' fees. The exception is where the loss results from a violation of the Agreement, Applicable Rules or applicable standards of conduct. The provision does not restrict your ability to bring any claim you would otherwise be entitled to bring against the Robinhood Parties in any forum, including arbitration.

Supporting quotations

Robinhood does not guarantee that these channels will be available and error free every minute of the day. Interruptions of service due to maintenance, Platform changes or system failures may occur.

WILL NOT BE RESPONSIBLE TO YOU OR TO THIRD PARTIES FOR ANY LOSSES YOU INCUR

EXCEPT WHERE SUCH LOSS RESULTS FROM VIOLATION OF THIS AGREEMENT, APPLICABLE RULES, OR APPLICABLE STANDARDS OF CONDUCT

THIS PROVISION DOES NOT RESTRICT OR LIMIT IN ANY WAY YOUR ABILITY TO BRING ANY CLAIM IN ANY FORUM, INCLUDING IN ARBITRATION, AGAINST ROBINHOOD PARTIES THAT YOU WOULD OTHERWISE BE ENTITLED TO BRING.

Qualifications & exceptions

• The exception covers loss resulting from violation of the Agreement, Applicable Rules or applicable standards of conduct.
• Your right to bring claims you could otherwise bring, in any forum including arbitration, is preserved.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood Parties are not responsible for losses from extraordinary events outside their control, as the law permits

To the extent permitted by applicable law, the Robinhood Parties will not be responsible to you or third parties for Losses caused by extraordinary events outside their control or that they did not cause. Examples listed, which are not exhaustive, include government or market restrictions, trading suspensions, actions of an exchange or self-regulatory organization, high market volatility or trading volume, armed conflicts, natural disasters, power outages, network or system failures, unforeseeable software or hardware malfunctions, computer viruses, message interruption, and unauthorized access or security breach.

Supporting quotations

TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE ROBINHOOD PARTIES WILL NOT BE RESPONSIBLE TO YOU OR TO THIRD PARTIES FOR ANY LOSSES YOU INCUR

BY REASON OF EXTRAORDINARY EVENTS OUTSIDE OF THEIR CONTROL OR THAT THEY DID NOT CAUSE INCLUDING, BUT NOT LIMITED TO

NETWORK OR SYSTEM FAILURES, UNFORSEEABLE SOFTWARE OR HARDWARE MALFUNCTIONS, COMPUTER VIRUSES, MESSAGE INTERRUPTION, AND INSTANCES OF UNAUTHORIZED ACCESS OR BREACH OF SECURITY

Qualifications & exceptions

• Applies only "to the extent permitted by applicable law".
• The event list is introduced by "including, but not limited to", and includes unauthorized access or security breach.

Legal Rights & Agreement Rules · User right or choice

The liability provisions do not limit claims you may bring or awards you may receive under FINRA rules or law

Laws differ by jurisdiction. Robinhood's responsibility as stated in this section does not limit your rights under FINRA rules or regulations or applicable law to bring a claim against Robinhood in any forum, including arbitration, that you would be entitled to bring under applicable law, or to receive an award or judgment from Robinhood that you would be entitled to receive under FINRA rules or regulations or applicable law.

Supporting quotations

Robinhood’s responsibility provided for in this section shall not be construed as limiting your rights under FINRA rules or regulations or under applicable law to (i) bring a claim against Robinhood in any forum, including arbitration, that you would be entitled to bring under applicable law or (ii) receive an award or judgment from Robinhood that you would be entitled to receive under FINRA rules or regulations or under applicable law.

Qualifications & exceptions

• Preserves claims and awards you are otherwise entitled to under applicable law or FINRA rules.

Cross-references

• qualifies (model-proposed): Robinhood Parties are not responsible for losses from extraordinary events outside their control, as the law permits — qualifies: The statement that Robinhood's responsibility provisions do not limit rights to bring claims or receive awards under FINRA rules or applicable law qualifies the extraordinary-events non-responsibility clause, which applies only to the extent permitted by applicable law.

Legal Rights & Agreement Rules · Restriction or exception

You must indemnify Robinhood and related parties for Losses from seven listed causes, except for their own violations

Except as otherwise provided by law, Robinhood, its affiliates and their partners, officers, directors, employees and agents ("Indemnified Parties") have no liability for, and you agree to indemnify, defend and hold them harmless from, all Losses that result from: your noncompliance with the Agreement; third-party actions about your receipt and use of Market Data, Content or other third-party content, whether authorized or not; third-party actions about your use of the Platform; your or your agent's misrepresentation, act or omission; the Indemnified Parties following your or your agent's directions, or failing to follow unlawful or unreasonable ones; their activities or services for your Account, including technology, reporting, trading, research or capital introduction services; and failure by someone they do not control to perform obligations to you. This does not apply to the extent Losses result from the Indemnified Parties' violation of the Agreement, Applicable Rules or applicable standards of conduct. If you let third parties access Robinhood's services, including your Account, you also indemnify the Indemnified Parties against claims by those third parties about that access, and Robinhood does not warrant against losses caused by your express or implied assent to third-party access.

Supporting quotations

Except as otherwise provided by law, Robinhood or any of its affiliates or respective partners, officers, directors, employees or agents (collectively, “Indemnified Parties”) shall have no liability for, and you agree to indemnify, defend and hold harmless the Indemnified Parties from all Losses that result from

(vi) any activities or services of the Indemnified Parties in connection with your Account (including any technology services, reporting, trading, research or capital introduction services)

except to the extent such Losses result from the Indemnified Parties’ violation of this Agreement, Applicable Rules, or applicable standards of conduct

if you authorize or allow third parties to gain access to Robinhood's services, including your Account, you will indemnify, defend and hold harmless the Indemnified Parties against any Losses arising out of claims or suits by such third parties based upon or relating to such access and use

Qualifications & exceptions

• Applies "except as otherwise provided by law" and except to the extent Losses result from the Indemnified Parties' own violation of the Agreement, Applicable Rules or standards of conduct.
• The causes include Robinhood's own activities or services in connection with your Account, subject to the violation exception.

Use & Processing · Permission or license

You consent to Automated Systems and accept that Indemnified Parties are not responsible for System Failures

You consent to Robinhood and its affiliates using automated systems or service bureaus for your Account, including automated order entry and execution, record keeping, reporting, account reconciliation and risk management ("Automated Systems"). You understand these systems involve risks such as interruption or delays, errors or omissions in information, system failure and design or functioning errors (a "System Failure") that could cause you substantial damage, expense or liability. Under Section 14.2 you agree the Indemnified Parties are not responsible for your Losses from a System Failure, except to the extent the Losses result from their violation of the Agreement, Applicable Rules or standards of conduct.

Supporting quotations

You consent to the use of automated systems or service bureaus by Robinhood and its respective affiliates in conjunction with your Account, including automated order entry and execution, record keeping, reporting and account reconciliation and risk management systems (collectively "Automated Systems").

you understand and agree that Indemnified Parties will not be responsible for any of your Losses arising out of or relating to a System Failure, except to the extent such Losses result from the Indemnified Parties’ violation of this Agreement, Applicable Rules, or applicable standards of conduct

WILL NOT BE RESPONSIBLE TO YOU OR TO THIRD PARTIES FOR ANY LOSSES YOU INCUR

Qualifications & exceptions

• The exception applies to Losses resulting from the Indemnified Parties' violation of the Agreement, Applicable Rules or applicable standards of conduct.

Not stated here

• Section 14.2 as supplied uses "Robinhood Parties", while this clause says "Indemnified Parties"; the text does not say the two groups are identical.

Legal Rights & Agreement Rules · Restriction or exception

Indemnified Parties disclaim third-party and outside-cause losses, but seek no indemnity for their own violations

Indemnified Parties have no responsibility to you for how an exchange, clearing organization, market data provider or other third party (including other broker-dealers, clearing firms and banks) or their agents or affiliates perform obligations relating to securities. They are not responsible to you or third parties for Losses, including special, indirect, incidental, consequential, punitive or exemplary losses such as lost profits and trading losses, resulting from a cause outside their control, including mechanical equipment failure, unauthorized access, theft, operator errors, government restrictions, force majeure, market data availability or quality, exchange rulings or suspension of trading. The Agreement does not seek indemnification for costs or penalties resulting from the Indemnified Parties' own violation of the securities laws or FINRA Rules.

Supporting quotations

Indemnified Parties will have no responsibility to you in connection with the performance or non-performance by any exchange, clearing organization, market data provider, or other third party (including other broker-dealers and clearing firms, and banks)

Indemnified Parties will not be responsible to you or to third parties for: any Losses (including special, indirect, incidental, consequential, punitive or exemplary (including lost profits, trading losses and damages)) resulting from a cause outside the control of the Indemnified Parties

This Agreement does not seek indemnification for costs or penalties resulting from the Indemnified Parties’ own violation of the securities laws or FINRA Rules.

Qualifications & exceptions

• The causes list is introduced by "including" and the list is not exhaustive.
• Costs or penalties from the Indemnified Parties' own securities-law or FINRA violations are carved out of the indemnification sought.

Legal Rights & Agreement Rules · User right or choice

The indemnity does not limit claims you may bring or awards you may receive under FINRA rules or law

Laws differ by jurisdiction. The indemnity in this section does not limit your rights under FINRA rules or regulations or applicable law to bring a claim against Robinhood in any forum, including arbitration, that you would be entitled to bring, or to receive an award or judgment from Robinhood that you would be entitled to receive.

Supporting quotations

The indemnity provided for in this section shall not be construed as limiting your rights under FINRA rules or regulations or under applicable law to (i) bring a claim against Robinhood, in any forum, including arbitration, that you would be entitled to bring under applicable law or (ii) receive an award or judgment from Robinhood that you would be entitled to receive under FINRA rules or regulations or under applicable law.

Qualifications & exceptions

• Preserves claims and awards you are otherwise entitled to under applicable law or FINRA rules.

Charges & Financial Obligations · Context

ETFs carry risks, leveraged and inverse ETFs may not suit everyone, and ETF trading creates tax consequences

You should weigh the investment objectives and risk profile of Exchange Traded Funds before investing. ETFs carry risks similar to other diversified portfolios. Leveraged and inverse ETFs may not be suitable for all investors and may increase exposure to volatility through leverage, short sales, derivatives and other complex strategies. ETFs may not exactly replicate their indices because of expenses and other factors. ETFs must distribute portfolio gains to shareholders at year end, which can arise from rebalancing or diversification needs, and ETF trading also has tax consequences.

Supporting quotations

You understand that you should consider the investment objectives and unique risk profile of Exchange Traded Funds (“ETFs”) carefully before investing

leveraged and inverse ETFs may not be suitable for all investors and may increase exposure to volatility through the use of leverage, short sales of securities, derivatives, and other complex investment strategies

ETFs are required to distribute portfolio gains to shareholders at year end, which may be generated by portfolio rebalancing or the need to meet diversification requirements, and that ETF trading will also generate tax consequences

Qualifications & exceptions

• Stated as your understanding; the statements about leveraged and inverse ETFs say "may".

Charges & Financial Obligations · Context

Prospectuses for ETFs come from issuers or their agents; regulator guidance is on SEC and FINRA sites

You can get prospectuses for ETFs from the issuers or their third-party agents who distribute them. Additional regulatory guidance on ETFs is on the SEC and FINRA websites.

Supporting quotations

You understand that you can obtain prospectuses from issuers or their third-party agents who distribute and make prospectuses available for review. Additional regulatory guidance on ETFs can be found at the SEC website and the FINRA website.

Not stated here

• The prospectuses and websites are outside this saved text.

Charges & Financial Obligations · Context

Closed-End Funds can trade at a premium or discount to NAV and may use leverage

You should consider the investment objectives and risk profile of Closed-End Funds (CEFs) carefully. CEFs pool investor money into a diversified portfolio and issue a fixed number of shares that trade on an exchange, so the market price may deviate from Net Asset Value and shares can trade at a premium or discount. CEFs may increase volatility through leverage, including issuing debt or preferred shares, and by investing in less-liquid securities; leverage can raise potential return but also raises the volatility of NAV and market price. CEFs must distribute portfolio gains, and CEF trading creates tax consequences. Prospectuses and shareholder reports are available from issuers or their agents, and further guidance is on the SEC and FINRA websites.

Supporting quotations

CEFs issue a fixed number of shares that trade on an exchange, and as a result, the market price of a CEF may deviate from its Net Asset Value (“NAV”), causing the shares to trade at a premium or a discount

CEFs may increase exposure to volatility through the use of leverage (including by issuing debt or preferred shares) and by investing in less-liquid portfolio securities

CEFs are required to distribute portfolio gains to shareholders, and CEF trading will generate tax consequences

Qualifications & exceptions

• Stated as your understanding and acknowledgment.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood may refuse orders on an attached or sequestered Account and need not contest the legal process

Robinhood is not liable for refusing to follow orders given by or for you on an Account that is subject to an attachment or sequestration in a legal proceeding against you, and has no obligation to contest the validity of the attachment or sequestration.

Supporting quotations

Robinhood shall not be liable for refusing to obey any orders given by or for you with respect to your Account that has or have been subject to an attachment or sequestration in any legal proceeding against you, and Robinhood shall be under no obligation to contest the validity of any such attachment or sequestration.

Account & Service Control · Restriction or exception

After your death, your estate or survivors must notify Robinhood, which may restrict the Account and demand papers

If you die, the representative of your estate or the survivor or survivors must immediately give Robinhood written notice. Before or after receiving notice, Robinhood may take proceedings, require papers and inheritance or estate tax waivers, keep a portion of the Account and restrict transactions as it deems advisable to protect itself against tax, liability, penalty or loss under present or future laws or otherwise.

Supporting quotations

in the event of your death, the representative of your estate or the survivor or survivors shall immediately give Robinhood written notice thereof

Robinhood may, before or after receiving such notice, take such proceedings, require such papers and inheritance or estate tax waivers, retain such portion of, or restrict transactions in the Account as Robinhood may deem advisable to protect Robinhood against any tax, liability, penalty or loss

Qualifications & exceptions

• Protective steps may be taken before or after notice is received.

Charges & Financial Obligations · Permission or license

On your death Robinhood may cancel orders and close out the Account; estate and survivors stay liable

If you die, Robinhood may cancel all open orders but is not responsible for action taken on them before actually receiving notice of death. It may in its discretion close out any or all of the Account without waiting for a personal representative and without demand or notice to one. The estate of any deceased Account holder is liable, and each survivor remains jointly and severally liable, for any net debit balance or loss resulting from transactions started before Robinhood received written notice of death, from liquidating the Account or adjusting the parties' interests, and for other obligations under the Agreement. Notice does not affect Robinhood's rights to take any action it could have taken had you not died.

Supporting quotations

in the event of your death, Robinhood may cancel all open orders, but Robinhood shall not be responsible for any action taken on such orders prior to the actual receipt of notice of death

Robinhood may in its discretion close out any or all of the Account without awaiting the appointment of a personal representative for your estate and without demand upon or notice to any such personal representative

The estate of any of the Account holders who have died shall be liable and each survivor shall continue to be liable, jointly and severally, to Robinhood for any net debit balance or loss in said account

Qualifications & exceptions

• Robinhood is not responsible for action on orders before actual receipt of notice of death.

Account & Service Control · Restriction or exception

A Trustee's death does not close a Trust Account, but Robinhood may restrict it until successors are onboarded

The death of a Trustee does not automatically close a Trust Account. You must promptly notify Robinhood of the death of any Trustee or Grantor. On notice of a Trustee's death Robinhood may immediately restrict that Trustee's access and may restrict the Trust Account generally until successor Trustee onboarding is complete. On notice of a Grantor's death it may restrict the Trust Account pending review of updated trust documentation showing any change in the trust's revocability, beneficiaries or terms triggered by the death.

Supporting quotations

The death of a Trustee does not automatically close a Trust Account.

Upon receipt of notice of a Trustee's death, Robinhood may immediately restrict that Trustee's access to the Trust Account and may restrict the Trust Account generally until successor Trustee onboarding is complete.

Upon receipt of notice of a Grantor's death, Robinhood may restrict the Trust Account pending review of updated trust documentation

Legal Rights & Agreement Rules · Restriction or exception

You are responsible for declaring and paying your own taxes and warrant you will comply with tax laws

You acknowledge it is your responsibility to declare and pay any income, gains or similar to all applicable tax authorities, make tax filings and pay all taxes and duties when due in all applicable jurisdictions. You undertake and warrant to Robinhood that you will do so and will fully comply with all tax laws and obligations that apply to you.

Supporting quotations

You acknowledge that it is your responsibility to declare and pay any income, gains, or similar to all applicable tax authorities, make any tax filings, and to pay any and all taxes, duties, or similar (“tax”) when due in all applicable jurisdictions.

You undertake and warrant to Robinhood that you will do so and will comply in full with all applicable tax laws and obligations to which you are subject.

Sharing & Disclosure · Company practice

Sale proceeds, dividends and substitute payments are reported to the IRS

The proceeds of sale transactions and dividends, including substitute payments in lieu of dividends, paid will be reported to the IRS in accordance with applicable law.

Supporting quotations

The proceeds of sale transactions and dividends (and substitute payments in lieu of dividends) paid will be reported to the Internal Revenue Service (“IRS”) in accordance with applicable law.

Qualifications & exceptions

• Reporting is "in accordance with applicable law".

Legal Rights & Agreement Rules · Restriction or exception

U.S. persons certify their taxpayer ID and non-backup-withholding status; wrong or missing TIN can bring withholding

If you are a U.S. person you certify, under penalties of perjury, that the taxpayer identification number you provided or will provide (including on any Form W-9) is correct, that you are not subject to backup withholding, and that you are a United States Person as defined in section 7701(a)(30) of the Internal Revenue Code. If a correct TIN is not provided to Robinhood Financial, you understand you may be subject to backup withholding at the appropriate rate on all dividends, interest and gross proceeds paid to you. Backup withholding taxes go to the IRS and cannot be refunded by Robinhood Financial. If you waive tax withholding and do not pay enough estimated taxes to the IRS, you may be subject to tax penalties.

Supporting quotations

This subsection is applicable if you are a U.S. person.

Under penalties of perjury, you certify that the taxpayer identification number that you have provided or will provide to Robinhood (including any taxpayer identification number on any Form W-9 that you have provided or will provide to Robinhood) is your correct taxpayer identification number.

If a correct Taxpayer Identification Number is not provided Robinhood Financial, you understand you may be subject to backup withholding tax at the appropriate rate on all dividends, interest and gross proceeds paid to you.

Backup withholding taxes are sent to the IRS and cannot be refunded by Robinhood Financial.

Qualifications & exceptions

• Applies if you are a U.S. person; subsection 18.4 applies to non-U.S. persons.
• The certification is made under penalties of perjury.

Sharing & Disclosure · Permission or license

Non-U.S. persons certify their Form W-8BEN, allow it to be shared, and must update it within 30 days

If you are not a U.S. Person you certify you fully understand the information on any Form W-8BEN you submit and declare under penalties of perjury that you have examined it and that to the best of your knowledge it is true, correct and complete. You authorize Robinhood to provide any such Form W-8BEN to Robinhood Securities or any withholding agent that has control, receipt or custody of income you beneficially own, or can disburse payments of it. You agree to submit a new Form W-8BEN within 30 days if any certification on a previous one becomes incorrect. You understand the IRS does not require your consent to any provisions of the form other than the certifications establishing your non-U.S. status and, if applicable, a reduced withholding rate.

Supporting quotations

This subsection is applicable if you are not a U.S. Person.

You authorize Robinhood to provide any such Form W-8BEN to Robinhood Securities or any withholding agent that has control, receipt, or custody of the income of which you are the beneficial owner or any withholding agent that can disburse or make payments of the income of which you are the beneficial owner.

You agree that you will submit a new Form W-8BEN to Robinhood within 30 days if any certification made on any previously submitted Form W- 8BEN becomes incorrect.

Qualifications & exceptions

• Applies if you are not a U.S. Person.
• The 30-day period runs from when a previous certification becomes incorrect.

Charges & Financial Obligations · Company practice

Robinhood Securities is paid for routing orders; stock payments are a share of the spread and options a flat rate

SEC Rule 607 requires broker-dealers to disclose their payment for order flow policies. Payment for order flow includes any monetary payment, service, property or other benefit paid to a broker-dealer by a broker-dealer or exchange in return for routing orders. Robinhood Financial routes customer stock and option orders to Robinhood Securities, which routes options orders and whole-share stock orders to market centers, including other broker-dealers and national securities exchanges. Robinhood Securities receives payment for order flow from those market centers and shares revenue with Robinhood Financial. The broker-dealers pay at the same rate, generally a percentage of the spread between the execution price and the National Best Bid (sells) or Offer (buys) for stocks, and a flat rate based on the underlying symbol for options.

Supporting quotations

Robinhood Financial routes customer orders in stock and option securities to Robinhood Securities, which routes orders in options and whole-share orders in stocks to market centers, including other broker-dealers and/or one or more national securities exchanges.

Robinhood Securities receives payment for order flow from those market centers and shares revenue with Robinhood Financial.

(i) for orders in stocks, a percentage of the spread between the execution price of an executed order and either the National Best Bid (for sell orders) or National Best Offer (for buy orders), and (ii) for orders in options, a flat rate based on the underlying symbol

Qualifications & exceptions

• The stock payment description is a percentage of the spread, "generally" paid, and the options payment is a flat rate based on the underlying symbol.
• Whole-share stock orders and options orders go to market centers; fractional share routing is not described in this paragraph.

Charges & Financial Obligations · Company practice

Orders are routed by size, security traits, expected price improvement and fill likelihood; you cannot choose the venue

Robinhood Securities generally pays an exchange when taking liquidity and is paid by an exchange when providing it. It sends customer orders to market centers based on several factors that depend partly on the security type: order size, trading characteristics, favorable execution price including expected price improvement from historical performance, and likelihood of a fill. Market centers may execute at prices better than the public quote. A customer may not specify a particular market center; Robinhood's routing policies, using those factors, are designed to seek favorable transaction processing. The nature and source of payments or credits Robinhood Securities receives on specific transactions will be furnished on written request.

Supporting quotations

Robinhood Securities transmits customer orders for execution to market centers based on several factors depending in part on the type of security, including: size of order, trading characteristics of the security, favorable execution price (including the expected opportunity for price improvement based on historical performance), and the likelihood of a fill.

While a customer may not specify that an order be directed to a particular market center for execution

The nature and source of any payments or credits received by Robinhood Securities in connection with any specific transactions will be furnished upon written request.

Qualifications & exceptions

• Information about payments on a specific transaction is available only on written request.

Charges & Financial Obligations · Company practice

Equity trades have no commission, other fees apply and can change without notice once posted

Robinhood does not charge fees or commissions for executing buy and sell orders for equities and equity options. Index options carry a per-contract fee. Other fees may apply and current fees are in the Fee Schedule on the Platform. You agree to pay fees at the prevailing rate and acknowledge the prevailing fees may change, and that the change may occur without notice. You agree to be bound by changes once posted in the Fee Schedule. Robinhood may vary rates and fees among customers for special offers, promotions, arrangements or account criteria such as balance or customer loyalty. You also agree to pay applicable federal, state, local and foreign taxes and any fees, costs or expenses Robinhood incurs collecting an unpaid balance, including attorney's fees allowed by law.

Supporting quotations

Robinhood does not charge fees or commissions for executing buy and sell orders for equities and equity options. Index options will be charged a per contract fee.

You acknowledge that the prevailing fees may change and that change may occur without notice. You agree to be bound by such changes once they are posted in the fee schedule available on the Platform.

Robinhood reserves the right to vary rates and fees among customers in connection with special offers, promotions, arrangements, or account criteria such as account value/balance or customer loyalty.

any fees, costs, or expenses incurred by Robinhood in connection with collection of any unpaid balance due on your Account, including attorney’s fees allowed by law

Qualifications & exceptions

• The no-commission statement covers equities and equity options; index options have a per-contract fee.
• Fee changes bind you once posted in the Fee Schedule, with no stated advance notice.

Not stated here

• The Fee Schedule itself is not part of this saved text.

Charges & Financial Obligations · Permission or license

Robinhood may automatically debit fees and taxes; in a margin account the debit can accrue interest

You authorize Robinhood to automatically debit your Account for any fees, charges or other amounts you owe it and for taxes you owe, including charges related to an AI agent to the extent you authorize them. If your Account is a margin account and its cash cannot cover a fee or charge, the debit becomes part of your margin debit balance and may accrue interest at your margin rate under Section 31 until repaid, so total cost may exceed the stated amount. Robinhood may decline to extend margin for any fee or charge. Debit balances in a margin account are charged interest according to the Margin Disclosure Statement in the Disclosure Library.

Supporting quotations

You authorize Robinhood to automatically debit your Account for any fees, charges or other amounts owed to Robinhood by you, and for any taxes owed by you.

If your Account is a margin account and the cash in it is not sufficient to cover a fee or charge, the debit becomes part of your margin debit balance and may accrue interest at your margin rate under Section 31 until repaid, so the total cost may exceed the stated amount.

Robinhood may decline to extend margin for any fee or charge.

Debit balances in your Margin Account shall be charged with interest in accordance with the Margin Disclosure Statement (available in the Disclosure Library).

Qualifications & exceptions

• AI agent charges are covered only to the extent you authorize them.
• The margin-balance treatment applies if the Account is a margin account and cash is insufficient.

Not stated here

• The margin interest rate itself is in the Margin Disclosure Statement, not in this saved text.

Charges & Financial Obligations · Procedure

ACH debits need a participating bank and matching name; Robinhood may verify your ownership of the External Account

At your request Robinhood initiates an ACH debit from an account you own or are authorized to use at another financial institution (an "External Account") for deposit to your Account. The institution must participate in the ACH system, and at least one common name must match exactly between your Account and the External Account (for a Trust Account this may be the Trust name or an individual Grantor). You authorize Robinhood to take steps it deems appropriate to verify your authority over and ownership of the External Account, including telling the bank you consent to its disclosing to Robinhood any information Robinhood requests about you or the External Account. You agree to promptly provide any identification or documents Robinhood requests, and you warrant the External Account has enough funds to cover the deposit.

Supporting quotations

the financial institution holding your External Account must participate in the ACH system

at least one common name must match exactly between your Account and your External Account

You authorize Robinhood to take such steps as it deems appropriate to verify your authority over and ownership of External Account, including by telling the bank at which such External Account is held that you have authorized and consented to such bank disclosing to Robinhood any information that Robinhood may request about you or your External Account.

You represent and warrant that there are sufficient funds in your External Account to cover the amount of the deposit to your Account.

Qualifications & exceptions

• A name match is required for ACH set-up; "at least one common name must match exactly".

Charges & Financial Obligations · Procedure

ACH debits start on the Business Day or next Business Day, with a 7:00 p.m. Eastern cutoff

Robinhood initiates the ACH debit to your External Account on the Business Day or next Business Day after you request the transfer. A request is deemed made on a Business Day if Robinhood receives it by 7:00 p.m. Eastern that day; later requests are deemed made the next Business Day. Business Days are Monday through Friday, excluding U.S. federal holidays.

Supporting quotations

Robinhood will initiate the ACH debit to your External Account on the Business Day or next Business Day after you request the transfer.

A transfer request will be deemed to have been made on a Business Day if it is received by Robinhood by 7:00 p.m. Eastern on such Business Day; if received after that time, the transfer request will be deemed to have been made on the next Business Day.

“Business Days” are Monday through Friday, excluding U.S. federal holidays.

Qualifications & exceptions

• The 7:00 p.m. Eastern cutoff is stated for debits; the credit paragraph refers to "that time" without restating it.

Charges & Financial Obligations · Restriction or exception

For 60 days after an ACH deposit, funds can only be withdrawn back to the External Account they came from

Within 60 days of the date of your ACH deposit, the funds may be withdrawn only to the External Account they were debited from. The ACH credit section repeats that funds deposited by ACH within the previous 60 days can be credited only to the External Account from which they were debited.

Supporting quotations

Within 60 days of the date of your ACH deposit, your funds may only be withdrawn to the External Account from which such funds were debited.

funds deposited by ACH within the previous 60 days, may only be credited to the External Account from which such funds were debited

Qualifications & exceptions

• The 60 days run from the date of the ACH deposit.

Charges & Financial Obligations · Restriction or exception

ACH debits may be reversed or rejected for five reasons, and you alone bear any reversal fee

An ACH debit may be reversed or rejected if the External Account has insufficient funds, the transaction is a duplicate, the bank holding the External Account denies it, the External Account does not support ACH transfers, or fraud or other potential illicit activity is suspected. If a reversal happens you may incur a fee. Before making an ACH debit transfer you agree to check the most recent Robinhood Financial Fee Schedule in the Disclosure Library, and you are solely liable and responsible for ACH reversal fees you incur.

Supporting quotations

You understand that an ACH debit transfer may be reversed or rejected if: (A) there are insufficient funds in your External Account; (B) there is a duplicate transaction; (C) the transaction is denied by the bank holding your External Account; (D) your External Account does not support ACH transfers; or (E) suspected fraud or other potential illicit activity.

You acknowledge that in the event of an ACH reversal, you may incur a fee.

You agree that you are solely liable and responsible for any ACH reversal fees that you incur.

Charges & Financial Obligations · Procedure

ACH credits require Available Funds and start the Business Day or next Business Day after your request

At your request Robinhood initiates an ACH credit from your Account to an External Account. You agree to have sufficient Available Funds in your Account to cover the amount. Robinhood debits the amount from your Account on the Business Day or next Business Day after you request the transfer. A request is deemed made on a Business Day if received that day; if received after "that time" it is deemed made the next Business Day, but this paragraph does not state the time.

Supporting quotations

You agree that you will have sufficient Available Funds in your Account to cover the amount of any ACH credit that you ask Robinhood to initiate.

Robinhood will debit the amount of such request from your Account on the Business Day or next Business Day after you request the transfer.

if received after that time, the transfer request will be deemed to have been made on the next Business Day

Qualifications & exceptions

• The credit paragraph refers to "that time" without stating a cutoff time.

Not stated here

• The cutoff time for ACH credit requests is not stated in this paragraph.

Charges & Financial Obligations · Permission or license

Robinhood may use any means it considers suitable for ACH credits and may reject them on suspected fraud

Robinhood may use any means it considers suitable, in its sole discretion, to carry out your ACH credit transfers. It may reject any ACH credit request in the event of suspected fraud or other potential illicit activity.

Supporting quotations

Robinhood may use any means which Robinhood, in its sole discretion, considers suitable to execute your ACH credit transfers, and that Robinhood may reject any ACH credit request in the event of suspected fraud or other potential illicit activity.

Account & Service Control · Restriction or exception

Fractional Shares are supported for exchange-listed securities, not OTC stocks, and may be sold on delisting

Robinhood may permit holding or trading a fraction of a share ("Fractional Shares"). It supports Fractional Shares only for national exchange-listed securities ("NMS Securities") and not for stocks traded over the counter. If an NMS Security is delisted, or an OTC stock has a corporate action resulting in fractional shares, Robinhood may sell any fractional portion of the OTC security.

Supporting quotations

Robinhood may permit the holding or trading of a fraction of a share of a security (“Fractional Shares”) in your Account.

Robinhood only supports the holding or trading of Fractional Shares for national exchange-listed securities (“NMS Securities”), and not for stocks traded over the counter (“OTC”).

Robinhood may sell any fractional portion of the OTC security.

Qualifications & exceptions

• The sale right is stated for the fractional portion of an OTC security.

Charges & Financial Obligations · Restriction or exception

Fractional rounding, $1.00 order minimum, dollar-based order variance and restriction for sub-penny orders

Robinhood rounds holdings of Fractional Shares to the fifth or sixth decimal place (depending on execution venue), the value of Fractional Shares to the nearest cent, and dividends on them to the nearest cent. It will not accept dollar-based or share-based purchases or sales under $1.00, and sale proceeds are rounded to the nearest cent. A dollar-based order is for shares with a notional value of approximately the dollar amount specified, and the notional value of executed shares may vary from that amount. If you enter repeated Fractional Share orders each with a notional value under $0.01, your Account may be restricted.

Supporting quotations

Robinhood rounds all holdings of Fractional Shares to the fifth or sixth decimal place (depending on the execution venue), the value of Fractional Shares to the nearest cent, and any dividends paid on Fractional Shares to the nearest cent.

Robinhood will not accept dollar-based or share-based purchases or sales of less than $1.00

the notional value of the purchased or sold shares may vary from the dollar value specified by the order

if you enter repeated Fractional Share orders with individual notional values of less than $0.01, your Account may be restricted

Qualifications & exceptions

• Dollar-based orders aim at approximately the specified dollar value, and the executed value may vary.

Account & Service Control · Restriction or exception

Fractional Shares are limited to exchange-listed securities; OTC fractional portions may be sold

Robinhood supports holding or trading Fractional Shares only for national exchange-listed securities ("NMS Securities"), not stocks traded over the counter. If an NMS Security is delisted, or an OTC stock has a corporate action that produces fractional shares, Robinhood may sell any fractional portion of the OTC security.

Supporting quotations

Robinhood only supports the holding or trading of Fractional Shares for national exchange-listed securities (“NMS Securities”), and not for stocks traded over the counter (“OTC”).

Robinhood may sell any fractional portion of the OTC security.

Account & Service Control · Company practice

Proxy votes on Fractional Shares are aggregated by a vendor and the issuer may not fully count them

A vendor employed by Robinhood aggregates proxy votes on Fractional Shares of Robinhood's customers with all votes reported to the issuer or its vote tabulator. Although the vendor reports the votes, the issuer or tabulator may not fully count them.

Supporting quotations

a vendor employed by Robinhood will aggregate any proxy votes for Fractional Shares of Robinhood’s customers with all votes reported to the issuer or issuer’s designated vote tabulator

the issuer or tabulator may not fully count such votes

Qualifications & exceptions

• The statement is that votes "may not" be fully counted by the issuer or tabulator.

Charges & Financial Obligations · Company practice

Robinhood Financial treats several order categories as "not held", giving it discretion over price and time

Robinhood Financial deems orders from Paycheck Recurring Investment (split-your-paycheck), offered by Robinhood Money, LLC and certain affiliates, to be "not held" orders, meaning the customer grants it discretion over price and time of execution. Orders under the Recurring Investment program and the Dividend Reinvestment Program are routed to a bulk order engine ("BOE") operated by Robinhood Securities, and each such order is deemed not held. Orders entered by Robinhood Asset Management, an SEC-registered investment adviser, are deemed not held, as are limit orders eligible for execution during the Robinhood 24 Hour Market, as discussed in Section 10.

Supporting quotations

to be a not held order, i.e., an order with respect to which the customer has granted Robinhood Financial discretion with respect to the price and time of execution

will be routed by Robinhood Financial to a certain bulk order engine that is operated by Robinhood Securities (“BOE”); Robinhood Financial will deem each order that it routes to the BOE to be a not held order

Robinhood Financial also deems orders entered by Robinhood Asset Management, an SEC-registered investment advisor, to be not held.

Robinhood Financial deems limit orders that are eligible for execution during the Robinhood 24 Hour Market to be not held, as discussed in Section 10.

Qualifications & exceptions

• "Not held" means the customer has granted Robinhood Financial discretion on price and time of execution.

Charges & Financial Obligations · Restriction or exception

Some securities cannot be traded fractionally in Extended Hours, and fractional orders do not run 7:30-8:00 p.m. ET

An equity order may be a market order or a limit order with a preset limit price, as described in Section 10. Some securities are not eligible for fractional trading during Extended Hours; for those, orders may be placed for whole shares or queued for the opening of Market Hours. Orders for a share quantity that includes a Fractional Share or for a dollar amount are not executable between 7:30 p.m. and 8:00 p.m. ET in the After-Hours session, and during that time may be placed for whole shares or queued for the opening. Trades outside Market Hours are subject to the Extended Hours Trading Disclosure.

Supporting quotations

Certain securities are not eligible for fractional trading during Extended Hours. During Extended Hours, orders in such securities may be placed for whole shares or queued for the opening of Market Hours.

Orders for a share quantity that includes a Fractional Share or for a dollar amount are not executable between 7:30 p.m. and 8:00 p.m. ET in the After-Hours session.

Trades outside of Market Hours are subject to Robinhood’s Extended Hours Trading Disclosure.

Qualifications & exceptions

• Applies to securities not eligible for fractional trading during Extended Hours.

Account & Service Control · Restriction or exception

Fractional Shares are illiquid outside Robinhood, cannot transfer in kind and are liquidated on transfer or closure

Fractional Shares in your Account are unrecognized, unmarketable and illiquid outside the Robinhood platform, cannot be transferred in kind, and can only be liquidated with proceeds withdrawn or transferred out. Subject to applicable requirements, Robinhood may report holdings and transactions in U.S. Dollars, shares or both. Because Fractional Share positions cannot be transferred, reorganized or issued in certificate form, your partial interest will be liquidated, without commission charges to you, at prevailing market prices if your Account is transferred or closed, the stock is reorganized, or certificates are ordered out. Timing of such liquidations is at Robinhood's discretion.

Supporting quotations

Fractional Shares within your Account (i) are unrecognized, unmarketable, and illiquid outside the Robinhood platform, (ii) are not transferable in-kind, and (iii) may only be liquidated and the proceeds withdrawn or transferred out.

your partial interest will be liquidated, without commission charges to you, at prevailing market prices in the event your Account is transferred or closed, the stock is reorganized, or stock certificates are ordered out of your Account

The timing of such liquidations will be at the discretion of Robinhood.

Qualifications & exceptions

• Liquidation happens without commission charges but at prevailing market prices, with timing at Robinhood's discretion.

Charges & Financial Obligations · Company practice

Early Dividends credit eligible dividends before the payment date and can be changed, suspended or ended at any time

Early Dividends lets eligible customers receive certain dividend payments before the issuer's announced payment date. Robinhood may modify, suspend or discontinue it at any time without prior notice, and if it suspends or discontinues some Early Dividends those dividends are paid after receipt. Robinhood may list eligible securities in the App and on the Website, but listing does not guarantee eligibility when a dividend is declared, announced or paid. Eligibility is determined by Robinhood in its sole discretion and may change at any time. Securities in retirement accounts are not eligible.

Supporting quotations

allows eligible customers to receive certain dividend payments before the issuer’s announced payment date

Robinhood may modify, suspend, or discontinue Early Dividends at any time without prior notice.

Eligibility is determined by Robinhood in its sole discretion and may change at any time.

Securities held in retirement accounts are not eligible for Early Dividends.

Qualifications & exceptions

• Listing a security does not guarantee eligibility at the time of declaration, announcement or payment.

Charges & Financial Obligations · Restriction or exception

If an issuer does not pay an Early Dividend or pays less, you remain liable to Robinhood for the credited amount

Issuers declare and pay dividends solely at their discretion, and may change, delay, reduce or cancel amounts and dates at any time before payment. Dividends are not guaranteed. Early Dividends affects only when eligible funds are credited and does not increase, modify or ensure payment of any dividend. If Robinhood credits your account in advance and the issuer does not pay, pays a reduced amount or reverses the payment for any reason, you remain fully liable to Robinhood for the credited or over-credited amount.

Supporting quotations

Dividends are declared and paid solely at the discretion of the issuing company. Dividend amounts and payment dates may be changed, delayed, reduced, or cancelled by the issuer at any time prior to payment.

Early Dividends only affects the timing of when eligible funds are credited to your account and does not increase, modify, or ensure payment of any dividend.

If Robinhood credits your account in advance of receiving a dividend from the issuer and the issuer does not pay the dividend, pays a reduced amount, or reverses the payment for any reason, you agree that you remain fully liable to Robinhood for the credited amount or any over-credited amount.

Qualifications & exceptions

• Liability applies when the issuer does not pay, pays less, or reverses the payment for any reason.

Charges & Financial Obligations · Company practice

Early dividends are reported for tax by the issuer's announced payment date, and cross-year payments may be excluded

An early payment is treated as an advancement of dividends earned for tax reporting. Whether or not a dividend is paid early, tax reporting is based on the issuer-announced payment date. Payments that cross tax years may be excluded from the Early Dividends feature.

Supporting quotations

The early payment is treated as an advancement of dividends earned from a tax reporting perspective. Regardless of whether dividends are paid early, tax reporting will be based upon the issuer announced payment date.

Payments that cross tax years may be excluded from the early dividend feature.

Qualifications & exceptions

• Cross-tax-year payments "may" be excluded.

Account & Service Control · Procedure

DRIP enrollment activates within three Business Days and covers securities available for fractional investing

The Dividend Reinvestment Program (DRIP) terms apply only if you are enrolled. Enrollment is activated within three Business Days after you tell Robinhood through the Platform that you want to enroll an eligible security. "Eligible Security" means all shares available for fractional investing through Robinhood, and to be eligible for dividend reinvestment the securities must be held in your Account.

Supporting quotations

the provisions of this Section will only apply if you are enrolled in Robinhood’s Dividend Reinvestment Program (“DRIP”)

Your enrollment in the DRIP will be activated within three Business Days after you notify Robinhood of your intention to enroll an eligible security through the Platform.

“Eligible Security” means all shares available for fractional investing through Robinhood.

Qualifications & exceptions

• The section applies "except as expressly stated otherwise" only if you are enrolled in the DRIP.

Account & Service Control · User right or choice

You can enroll chosen securities or all Eligible Securities; Robinhood or law can remove one from the DRIP

You may enroll individual securities or have all Eligible Securities in your Account enrolled. If you choose all, individual securities may later stop being Eligible Securities at Robinhood's discretion or under applicable law, and only those securities are discontinued from the DRIP. If you choose individual securities you may add others at any time if you hold a position, effective within three Business Days after Robinhood receives your notice. If you have open orders for securities you do not already hold, you cannot enroll them until the orders execute. If your whole Account is set up for dividend reinvestment, Eligible Securities you buy later participate automatically.

Supporting quotations

You may specify individual securities or have all Eligible Securities in your Account enrolled for dividend reinvestment.

individual securities could subsequently no longer be Eligible Securities at Robinhood’s discretion or under applicable

Enrollment with respect to these additional Eligible Securities will be effective within three Business Days after Robinhood receives notification from you through the Platform.

If you maintain open orders for securities you do not already hold, you may not enroll those securities for dividend reinvestment until your open orders are executed.

If your entire Account is set up for dividend reinvestment, any Eligible Securities you purchase in the future will automatically participate in the DRIP.

Qualifications & exceptions

• Removal of a security from eligibility can happen at Robinhood's discretion or under applicable law.

Charges & Financial Obligations · Company practice

Only Eligible Cash Distributions on held securities are reinvested, and some are redirected to debts or skipped

Eligible Cash Distributions are reinvested in the securities you selected if you owned them on the record date and still hold them through the payable date. They include most cash distributions: regular and optional dividends, cash-in-lieu payments, capital gains distributions and Early Dividends. Special dividends, late ex-date, liquidation and miscellaneous payments may not be eligible. If you have an account deficit or margin call, the dividend goes toward reducing the amount owed. A reversed or modified distribution may not be reinvested, and dividends may not be invested because of operational and other issues. Robinhood may borrow a dividend-paying stock in the normal course, in which case you may get a cash-in-lieu payment, which you authorize Robinhood to treat as an ordinary dividend and reinvest.

Supporting quotations

Eligible Cash Distributions will be reinvested in securities you have selected in the DRIP, provided that you owned the securities on the record date for determining shareholders eligible to receive dividends, and continue to hold the securities through the payable date.

“Eligible Cash Distributions” means most cash distributions, including regular and optional dividends, cash-in-lieu payments, capital gains distributions, and Early Dividends.

If you have an account deficit or a margin call, your dividend will go toward reducing the amount owed.

If you receive a cash in lieu payment, you authorize Robinhood to treat such payment as if it was not “in lieu” and reinvest it accordingly.

Qualifications & exceptions

• Reinvestment requires owning the securities on the record date and holding them through the payable date.
• Special dividends, late ex-date, liquidation and miscellaneous payments "may not" be eligible.

Charges & Financial Obligations · Company practice

Dividends are reinvested the next Business Day, possibly up to five later, and funds are unusable meanwhile

Robinhood credits your Account when reinvestment is complete. It reinvests dividends on the Business Day after receiving the funds (or after payment of funds for Early Dividends). In the rare case it cannot reinvest all dividends that day, it may reinvest the rest as soon as reasonably possible, which may take up to five Business Days. You do not have use of the funds before reinvestment.

Supporting quotations

Robinhood will reinvest dividends on the Business Day following receipt of funds, or payment of funds for Early Dividends.

it may reinvest the remaining funds as soon as reasonably possible thereafter, which may take up to five Business Days

You will not have use of the funds prior to reinvestment.

Charges & Financial Obligations · Restriction or exception

The DRIP is voluntary, is not a recommendation, does not assure profit, and Robinhood does not intend to charge a fee

Participation in the DRIP is voluntary and Robinhood has not recommended it. Robinhood is not recommending or advising on buying any Eligible Security. Dividend reinvestment does not assure profits or protect against losses in declining markets. Robinhood does not intend to charge a fee for DRIP transactions.

Supporting quotations

your participation in the DRIP is voluntary and that Robinhood has not made any recommendation that you should participate

dividend reinvestment does not assure profits on your investments, nor does it protect against losses in declining markets

Robinhood does not intend to charge a fee for transactions executed pursuant to the DRIP.

Qualifications & exceptions

• The fee statement is an intention ("does not intend"), not a commitment.

Account & Service Control · User right or choice

You can end DRIP participation by notice; three Business Days' notice before the record date is needed

You may terminate your DRIP participation, or the enrollment of individual securities, at any time by giving notice through the Platform. Termination takes effect before the next Eligible Cash Distribution if your notice was received at least three Business Days before that distribution's record date. Your notice does not affect obligations from transactions initiated before Robinhood received and processed it.

Supporting quotations

You may terminate your participation in the DRIP, or the enrollment of individual securities in the DRIP, at any time by giving notice through the Platform.

Termination will take effect prior to the next Eligible Cash Distribution provided your notice to terminate was received at least three Business Days prior to the record date of that distribution.

will not affect any obligations that may result from transactions initiated prior to Robinhood’s receipt and processing of your notice

Qualifications & exceptions

• Timing depends on receipt at least three Business Days before the record date.

Charges & Financial Obligations · Company practice

DRIP orders are aggregated in a bulk order engine and allocated at an agency average price

DRIP investment orders are generally routed as dollar-based orders by Robinhood Financial to the bulk order engine (BOE). The BOE aggregates a day's DRIP orders in a given security into one or more bulk orders, each of which may represent multiple customers. Robinhood Securities allocates executions to customers at an agency average price. If a bulk order is not fully executed, customers receive a pro rata refund of the unfilled dollar amount. Robinhood Financial deems each order routed to the BOE to be a "not held" order, giving it discretion over price and time of execution.

Supporting quotations

Orders to invest in a security pursuant to your instructions provided in connection with your participation in the DRIP generally will be routed as dollar-based orders by Robinhood Financial to the BOE.

Robinhood Securities allocates executions received by the BOE to customers based on an agency average price.

If a bulk order is not fully executed, the customers whose orders are represented by the bulk order will be refunded the dollar amount corresponding to the unfilled portion of the bulk order on a pro rata basis.

Robinhood Financial will deem each order that it routes to the BOE to be a not held order

Qualifications & exceptions

• Routing as dollar-based orders to the BOE is "generally" what happens, not always.

Charges & Financial Obligations · Company practice

If the BOE is unavailable, DRIP dividends are pooled with other clients' and bought near the next day's open

If you participate in the DRIP and the bulk order engine is not used, for example because it is unavailable, Robinhood reinvests a stock's dividends at or near the opening price on the trading day after receiving the dividend. It combines Eligible Cash Distributions from your Account with those of other clients reinvesting in the same security and buys with the combined funds on behalf of all of them. If the combined funds do not total at least one share, the distribution is invested in Fractional Shares. The same day Robinhood credits your Account with shares, including Fractional Shares, equal to your Eligible Cash Distribution divided by the purchase price per share.

Supporting quotations

If you participate in the DRIP and the BOE is not utilized (because, e.g., the BOE is not available), you understand Robinhood will reinvest the dividends of a particular stock at or near the opening price on the trading day following receipt of the dividend.

Robinhood will combine Eligible Cash Distributions from your Account with those from other Robinhood clients requesting dividend reinvestment in the same security and use these combined funds to purchase securities on your behalf and on behalf of these other clients.

equal to your Eligible Cash Distribution divided by the purchase price per share

Qualifications & exceptions

• Applies only when the BOE is not utilized.

Account & Service Control · Restriction or exception

DRIP fractions earn future dividends, but corporate actions may pay whole shares and cash in lieu

Dividend reinvestment may leave you with interests in Fractional Shares. You are entitled to future dividends on them, although other corporate actions may allocate only whole shares and cash in lieu of Fractional Shares, as the issuer determines. In mandatory corporate reorganizations your partial interest is handled under the reorganization's specific terms. In voluntary corporate reorganizations Robinhood acts on your instructions only for your whole shares.

Supporting quotations

You will be entitled to receive future dividend payments on your Fractional Shares, although other corporate actions may result in allocation of only whole shares and cash in lieu of Fractional Shares as determined by the issuer.

In mandatory corporate reorganizations, your partial interest will be handled according to the specific terms of the reorganization.

In voluntary corporate reorganizations, Robinhood will act on your instructions with respect only to your whole shares.

Qualifications & exceptions

• In voluntary reorganizations Robinhood acts only on instructions for whole shares.

Account & Service Control · Restriction or exception

DRIP fractional positions are liquidated without commission if the Account is transferred, closed or reorganized

Because Fractional Share positions cannot be transferred, reorganized or issued in certificate form, your partial interest will be liquidated, without commission, at prevailing market prices if your Account is transferred or closed, the stock is reorganized, or certificates are ordered out. Timing of the liquidation is at Robinhood's discretion.

Supporting quotations

your partial interest will be liquidated, without commission charges to you, at prevailing market prices in the event your Account is transferred or closed, the stock is reorganized, or stock certificates are ordered out of your Account

The timing of such liquidations will be at the discretion of Robinhood.

Charges & Financial Obligations · Restriction or exception

Fractional holdings in partially callable securities are called by random selection, and you may owe shares

Dividend reinvestment may leave you with a Fractional Share position in securities that are callable in part. In a call, Fractional Shares to be called are selected randomly, with the probability of your holdings being called proportional to the holdings of all Robinhood clients with fractional positions in that security. Before the call's publication date you may withdraw cash in lieu of your uncalled, fully paid partial holdings. Once a call is announced, all shares, whether registered or held in street name, enter the random selection. If your Fractional Shares are selected and you no longer hold the shares you held on the publication date, you are responsible for covering those shares.

Supporting quotations

In the event of a call, Fractional Shares to be called will be determined through a random selection process.

Prior to the publication date of such a call, you have the right to withdraw from your Account cash in lieu of your uncalled, fully paid partial holdings.

If your Fractional Shares are selected and you no longer hold the shares that you held on the publication date of the call, you will be responsible for covering those shares.

Qualifications & exceptions

• The right to withdraw cash in lieu applies before the publication date of the call.

Charges & Financial Obligations · Procedure

Recurring Investments run on your schedule, may slip up to five Business Days, and move to the next trading day

The Recurring Investments (RI) terms apply only if you are enrolled. "Recurring Eligible Security" means shares available for fractional investing that Robinhood supports for RI. Robinhood processes RI orders on the schedule you choose. If it cannot process an order on the specified day it will do so as soon as reasonably possible, which may take up to five Business Days. An order falling on a market closure such as a weekend or holiday is scheduled for the next trading day, and on partial market holidays recurring orders process earlier in the day.

Supporting quotations

the provisions of this Section will only apply if you are enrolled in Robinhood’s Recurring Investments (“RI”)

If Robinhood is unable to process an RI order on the specified day, it will process the order as soon as reasonably possible thereafter, which may take up to five Business Days.

If your RI order falls on a day that the market is closed, like a weekend or holiday, it will be scheduled for the next trading day.

Qualifications & exceptions

• Applies only if you are enrolled in Recurring Investments.

Charges & Financial Obligations · Restriction or exception

Recurring Investments are voluntary, not a recommendation, and do not assure profit

Participation in RI is voluntary and Robinhood has not recommended it. Robinhood is not recommending or advising on buying any Recurring Eligible Security. Recurring investment does not assure profits or protect against losses in declining markets.

Supporting quotations

your participation in RI is voluntary and that Robinhood has not made any recommendation that you should participate

recurring investment does not assure profits on your investments, nor does it protect against losses in declining markets

Account & Service Control · User right or choice

You can delete recurring investments by notice; deletion inside two Business Days waits one more order

You may delete recurring investments at any time by giving notice through the Platform. Deletion takes effect before the next scheduled RI order, unless the request is made fewer than two Business Days before the next recurring investment, in which case it takes effect before the following RI order. If the Platform makes it available you may also pause or skip a specific RI order. Your notice does not affect obligations from transactions initiated before Robinhood received and processed it.

Supporting quotations

You may delete your recurring investments at any time by giving notice through the Platform.

unless the request to delete is made fewer than two Business Days prior to the next recurring investment, in which case the request to delete will take effect prior to the following RI order

If the Platform makes this option available, you may also pause or skip a specific RI order.

Qualifications & exceptions

• Pause or skip is available only if the Platform makes the option available.

Charges & Financial Obligations · Company practice

Recurring Investment orders go through the bulk order engine, allocated at agency average price with pro rata refunds

RI orders are generally routed as dollar-based orders by Robinhood Financial to the BOE, which aggregates a day's RI orders in a security into one or more bulk orders that may represent multiple customers. Robinhood Securities allocates executions at an agency average price. If a bulk order is not fully executed, customers receive a pro rata refund of the unfilled dollar amount. Robinhood Financial deems each order routed to the BOE a "not held" order, giving it discretion over price and time of execution.

Supporting quotations

Orders to invest in a security pursuant to your instructions provided in connection with your participation in RI generally will be routed as dollar-based orders by Robinhood Financial to the BOE.

Robinhood Securities allocates executions received by the BOE to customers based on an agency average price.

If a bulk order is not fully executed, the customers whose orders are represented by the bulk order will be refunded the dollar amount corresponding to the unfilled portion of the bulk order on a pro rata basis.

Robinhood Financial will deem each order that it routes to the BOE to be a not held order

Qualifications & exceptions

• Routing through the BOE is "generally" what happens.

Charges & Financial Obligations · Company practice

If the BOE is unavailable, Recurring Investments are placed midday to close and may be pooled with other customers'

If you participate in RI and the bulk order engine is not used, Robinhood places an order in the amount you specified. RI orders are typically processed between 12:00 PM ET and market close on the scheduled date. Robinhood may combine your RI orders with other customers' orders in the same security and buy on behalf of all of them. If the combined funds do not total the price of at least one share, they are invested in Fractional Shares. The same day it credits your Account with shares, including Fractional Shares, equal to your recurring investment divided by the purchase price per share.

Supporting quotations

If you participate in RI and the BOE is not utilized (because, e.g., the BOE is not available), you understand Robinhood will place an order in the amount specified.

RI orders will typically be processed between 12:00 PM ET and market close on the scheduled date.

Robinhood may combine RI orders from your Account with those from other Robinhood customers requesting recurring investments in the same security

Qualifications & exceptions

• Applies only when the BOE is not utilized.

Account & Service Control · Restriction or exception

RI fractions earn future dividends, but corporate actions may pay whole shares and cash in lieu

Recurring investments may leave you with Fractional Shares. You are entitled to future dividends on them, although other corporate actions may allocate only whole shares and cash in lieu of fractions as the issuer determines. In mandatory corporate reorganizations your partial interest is handled under the reorganization's terms. In voluntary reorganizations Robinhood acts on your instructions only for your whole shares.

Supporting quotations

You will be entitled to receive future dividend payments on your Fractional Shares, although other corporate actions may result in allocation of only whole shares and cash in lieu of fractions as determined by the issuer.

In voluntary corporate reorganizations, Robinhood will act on your instructions with respect only to your whole shares.

Qualifications & exceptions

• In voluntary reorganizations Robinhood acts only on instructions for whole shares.

Account & Service Control · Restriction or exception

Recurring Investment fractions are liquidated without commission if the Account is transferred or closed

Because fractional share positions cannot be transferred, reorganized or issued in certificate form, your partial interest will be liquidated, without commission, at prevailing market prices if your Account is transferred or closed, the stock is reorganized, or certificates are ordered out. Timing is at Robinhood's discretion.

Supporting quotations

your partial interest will be liquidated, without commission charges to you, at prevailing market prices in the event your Account is transferred or closed, the stock is reorganized, or stock certificates are ordered out of your Account

The timing of such liquidations will be at the discretion of Robinhood.

Charges & Financial Obligations · Restriction or exception

Recurring-investment fractions in partially callable securities are called at random, and you may owe shares

Recurring investments may give you a fractional position in securities that are callable in part. In a call, Fractional Shares are chosen by random selection, with your probability proportional to the holdings of all Robinhood customers with fractional positions in that security. Before the call's publication date you may withdraw cash in lieu of your uncalled, fully paid partial holdings. After announcement all shares, registered or in street name, enter the random selection. If your Fractional Shares are selected and you no longer hold the shares you held on the publication date, you must cover those shares.

Supporting quotations

In the event of a call, Fractional Shares to be called will be determined through a random selection process.

Prior to the publication date of such a call, you have the right to withdraw from your Account cash in lieu of your uncalled, fully paid partial holdings.

If your Fractional Shares are selected and you no longer hold the shares that you held on the publication date of the call, you will be responsible for covering those shares.

Qualifications & exceptions

• The right to withdraw cash in lieu applies before the publication date of the call.

Sharing & Disclosure · User right or choice

Disclosures follow the Agreement or the Privacy Policy, and sharing consents last until you revoke them

All disclosures of your non-public personal information are made in accordance with the Agreement or the Robinhood Privacy Policy, as applicable. Your consent to sharing certain types of non-public personal information stays in effect until you revoke it by updating your settings.

Supporting quotations

all disclosures of your non-public personal information shall be made in accordance with the terms of this Agreement or the Robinhood Privacy Policy (available in the Disclosure Library), as applicable

your consent to sharing certain types of non-public personal information will remain in effect until you revoke such consent by updating your settings

Qualifications & exceptions

• Consent remains in effect until revoked through settings.

Not stated here

• The Robinhood Privacy Policy is referenced as available in the Disclosure Library and is not part of this saved text, so which disclosures it permits is not stated here.

Sharing & Disclosure · Permission or license

Robinhood may disclose Account information to third parties in five listed circumstances

Robinhood may disclose information about your Account and related activities to third parties: as necessary to complete your Payment transactions; to investigate a complaint, disputed transaction, inquiry or request you make, or to investigate potential fraud, money laundering or other misuse related to your Account; to respond to requests from credit bureaus, creditors or other third parties for account-related information, to the extent necessary for processing your transactions or usual and customary when servicing similar accounts; as necessary to comply with law, regulation, government or court order or subpoena; or with your written permission or as otherwise permitted under the Privacy Policy.

Supporting quotations

Robinhood may disclose information about your Account and your related activities to third parties under the following circumstances: (i) As necessary to complete your Payment transactions

(ii) to investigate any complaint, disputed transaction, transaction inquiry, or request you make or as necessary to investigate potential fraud, money laundering, or other misuse related to your Account

(iii) to respond to requests from credit bureaus, creditors, or other third parties for account-related information, to the extent such inquiries are necessary for processing your transactions or are usual and customary in the course of servicing similar products or accounts

(iv) as necessary to comply with any applicable law, regulation, government, or court order or subpoena; or (v) in accordance with your written permission or as otherwise permitted under the Robinhood Privacy Policy

Qualifications & exceptions

• Credit bureau and creditor responses are limited to what is necessary for processing or usual and customary for similar accounts.
• The last circumstance points to what the Privacy Policy otherwise permits, which is not supplied here.

Not stated here

• What the Privacy Policy permits beyond these five circumstances is not stated in this saved text.

Charges & Financial Obligations · Restriction or exception

Deposited funds can be held per the Funds Availability schedule, which Robinhood may change and extend for fraud risk

Funds you deposit may be subject to hold periods described in the RHF Funds Availability schedule in the Disclosure Library. Robinhood may modify that schedule at any time by posting an updated version or otherwise notifying you. During a hold, funds are unavailable for Payments, withdrawal or settling securities transactions as the schedule describes. Robinhood may also delay making deposited funds available beyond the scheduled holds if it needs more time to verify information about the deposited item or the sender, or otherwise believes there is a risk of fraud or other unlawful activity with respect to your Account.

Supporting quotations

funds that you deposit to your Account may be subject to one or more hold periods, which are described in the RHF Funds Availability schedule available in the Disclosure Library

Robinhood reserves the right to modify the RHF Funds Availability schedule at any time by posting an updated schedule in the Disclosure Library or otherwise providing notice to you

During the applicable hold period, your funds will not be available for Payments, withdrawal, or the settling of securities transactions

Robinhood reserves the right to further delay making deposited funds available for periods longer than the hold periods specified in the RHF Funds Availability schedule

Qualifications & exceptions

• Hold periods are in the Funds Availability schedule, which is not part of this saved text.
• Further delay is available when more time is needed to verify the item or sender, or where fraud or other unlawful activity is a risk.

Not stated here

• The hold periods themselves are not stated in this saved text.

Charges & Financial Obligations · Permission or license

Robinhood may correct mistaken deposits and deduct Program Bank interest without prior notice

If funds are deposited or transferred into your Account by mistake or otherwise, you agree Robinhood may correct the situation, and deduct any interest paid by Program Banks (as defined in Section 27) where applicable, without prior notice to you.

Supporting quotations

If funds are deposited or transferred into your Account by mistake or otherwise, you agree that Robinhood may correct the situation and deduct any interest paid by Program Banks (as such term is defined in Section 27), if applicable, without prior notice to you.

Qualifications & exceptions

• Interest deduction applies "if applicable" to interest paid by Program Banks.

Charges & Financial Obligations · Permission or license

If a transfer into your Account is returned, Robinhood may charge it and Program Bank interest to you without notice

You are responsible for returned transactions. If funds transferred into your Account are returned for any reason, Robinhood may charge the transfer, and interest paid by Program Banks if applicable, against your Account without prior notice.

Supporting quotations

you are responsible for returned transactions. If you have funds transferred into your Account and that transfer is returned for any reason, Robinhood may charge the transfer and interest paid by Program Banks, if applicable, against your Account, without prior notice to you

Qualifications & exceptions

• Interest charge-back applies "if applicable" to interest paid by Program Banks.

Charges & Financial Obligations · Company practice

The High-Yield Cash Program pays interest to eligible customers on eligible free credit balances and options collateral

The High-Yield Cash Program offers interest to eligible customers on eligible free credit balances, whether swept to the Cash Sweep Program or held in the Brokerage-Held Cash Program. It also offers interest on eligible options cash collateral.

Supporting quotations

The High-Yield Cash Program offers interest to eligible customers on eligible free credit balances, whether swept to the Cash Sweep Program or held as part of the Brokerage-Held Cash Program.

The High-Yield Cash Program also offers interest to eligible customers on eligible options cash collateral.

Qualifications & exceptions

• Interest is for "eligible customers" on "eligible" balances and collateral; eligibility is not defined in this paragraph.

Not stated here

• Eligibility criteria and interest rates are not stated here.

Charges & Financial Obligations · Company practice

Unenrolled cash earns nothing; swept cash goes to Program Banks; held cash may be used in Robinhood's business

If you are not enrolled in the High-Yield Cash Program, free credit balances stay in your Account and earn no interest. In the Cash Sweep Program, eligible free credit balances are deposited into interest-bearing accounts at one or more banks ("Program Banks"). In the Brokerage-Held Cash Program, cash stays in your account awaiting investment and is payable to you on demand by Robinhood. Robinhood may use this free credit balance in connection with its business, subject to applicable law.

Supporting quotations

If you are not enrolled in the High-Yield Cash Program, free credit balances in your Account will remain in your Account and will not earn interest.

eligible free credit balances in your Account will be deposited into interest-bearing accounts at one or more banks (“Program Banks”)

In the Brokerage-Held Cash Program, cash will remain in your account awaiting investment and be payable to you on demand by Robinhood.

We may use this free credit balance in connection with our business, subject to applicable law.

Qualifications & exceptions

• Robinhood's use of the free credit balance in its business is "subject to applicable law".

Not stated here

• The text does not say which Program Banks are used or what limits apply to Robinhood's business use beyond applicable law.

Charges & Financial Obligations · Restriction or exception

Enrolling in High-Yield Cash means you agree to its separate agreement, and Robinhood may end your participation

By enrolling in the High-Yield Cash Program you represent and warrant that you have reviewed and agree to the High-Yield Cash Program Agreement available in the Disclosure Library and on the Platform. Robinhood may terminate your participation for any reason, upon notice to you.

Supporting quotations

By enrolling in the High-Yield Cash Program, you represent and warrant that you have reviewed and agree to the terms of the High-Yield Cash Program Agreement available in the Disclosure Library and on the Platform.

Robinhood may terminate your participation in the High-Yield Cash Program for any reason, upon notice to you.

Qualifications & exceptions

• Termination by Robinhood is "for any reason" but "upon notice to you".

Not stated here

• The High-Yield Cash Program Agreement is not part of this saved text.

Charges & Financial Obligations · Permission or license

Robinhood may sell your securities or close transactions to protect itself or cover debts, without notice

Whenever necessary for Robinhood's protection, or to satisfy a margin call, deficiency, debit or other obligation owed to it, Robinhood may (but need not) sell, assign and deliver all or part of the securities in your Account or close any or all transactions. It may, but need not, try to contact you first. Robinhood reserves the right to act without prior notice or demand for additional collateral, free of any right of redemption, and any earlier demand, call or notice does not waive its right to sell or buy without demand, call or notice.

Supporting quotations

whenever it is necessary for Robinhood’s protection or to satisfy a margin call, deficiency, debit or other obligation owed to Robinhood, Robinhood may (but is not required to) sell, assign and deliver all or any part of the securities in your Account, or close any or all transactions in your Account

Robinhood may, but is not obligated to, attempt to contact you before taking any such action

without prior notice or demand for additional collateral, and free of any right of redemption

Qualifications & exceptions

• Robinhood may but is not obligated to attempt contact before acting.
• A prior demand or notice does not waive the right to act without further demand.

Charges & Financial Obligations · Restriction or exception

Robinhood chooses what, when and how to liquidate, and you agree not to hold it liable

Robinhood may choose which securities to buy or sell, which transactions to close, and the sequence and timing of liquidation. It may act on whatever exchange or market and in whatever manner, including public auction or private sale, it chooses in its business judgment. You agree not to hold Robinhood liable for the choice of securities or transactions, for the timing or manner of liquidation, or for taking the action at all.

Supporting quotations

Robinhood may choose which securities to buy or sell, which transactions to close, and the sequence and timing of liquidation, and may take such actions on whatever exchange or market and in whatever manner (including public auction or private sale) that Robinhood chooses in the exercise of its business judgment.

You agree not to hold Robinhood liable for the choice of which securities to buy or sell or of which transactions to close or for the timing or manner of the liquidation. You also agree not to hold Robinhood liable for taking such action.

Charges & Financial Obligations · Permission or license

Robinhood may use its liquidation rights in its sole discretion, including on seven listed events

Robinhood may exercise the Section 28 rights in its sole discretion, including whenever any of these occurs: the equity level in your Account falls below required minimums; sufficient funds or securities are not deposited to pay for transactions; you reverse any ACH debit transfer to your Account; a bankruptcy or receivership petition is filed by or against you; an attachment is levied against your Account; you die or become incapacitated or incompetent; or your Account is closed.

Supporting quotations

Robinhood is entitled to exercise the rights described in this Section in its sole discretion, including, but not limited to, whenever any of the following occurs:

The equity level in your Account falls below required minimums;

You reverse any ACH debit transfer to your Account;

A petition of bankruptcy or for the appointment of a receiver is filed by or against you;

An attachment is levied against your Account;

You die or become incapacitated or incompetent; or

Your Account is closed.

Sufficient funds or securities are not deposited to pay for transactions in your Account;

Qualifications & exceptions

• The list is introduced by "including, but not limited to", so other occasions are possible.

Account & Service Control · Restriction or exception

Robinhood may offer an API and MCP server to third parties, and you may not use it or build products without consent

Robinhood may, in its sole discretion, provide third parties ("API Licensees") with an application programming interface and related materials, including through a Model Context Protocol (MCP) server hosted by Robinhood or an affiliate (the "API Package"), so their products ("Licensee Products") can make available features of Robinhood's apps, websites or technology platform. The API Package and Licensee Products together are the "API Products". You may not use the API Package or develop Licensee Products without Robinhood's express written consent, which it may decline in its sole discretion.

Supporting quotations

Robinhood may, in Robinhood’s sole discretion, provide third parties with an application programming interface (“API”) and other materials, including through a Model Context Protocol (“MCP”) server hosted by Robinhood or one of its affiliates

The API Package and the Licensee Products are collectively referred to as the “API Products”.

You may not use the API Package or develop Licensee Products without Robinhood’s express written consent (and Robinhood may decline any such request for use or development in its sole discretion).

Qualifications & exceptions

• Consent must be express and written, and Robinhood may refuse in its sole discretion.

Sharing & Disclosure · Permission or license

Using API Products can give API Licensees access to your Account and Personal Information, and you consent to disclosure

Through any API Products you may be giving API Licensees access to your Account and Personal Information, defined as any information that identifies, describes or can be associated with an individual, including username, logon password, financial information, trade data and other financial information. You agree that API Products may request Personal Information stored by Robinhood, and you consent to Robinhood disclosing it to the API Products. You also agree that API Products may deliver Personal Information to Robinhood, and Robinhood is authorized to receive and store it consistent with its then-in-effect policies and procedures.

Supporting quotations

Through your use of any API Products, you may be providing API Licensees with access to your Account and Personal Information.

“Personal Information” means any information that identifies, describes, or is capable of being associated with an individual (including username, logon password, financial information, trade data, and other financial information).

the API Products may deliver Personal Information to Robinhood, and that Robinhood is authorized to receive and store such Personal Information consistent with Robinhood’s then-in-effect policies and procedures

the API Products may request Personal Information stored by Robinhood, and you consent to Robinhood’s disclosure of such Personal Information to the API Products

Qualifications & exceptions

• Personal Information is defined broadly and expressly includes username, logon password, financial information and trade data.
• Robinhood stores received Personal Information consistent with its policies and procedures then in effect.

Not stated here

• Those policies and procedures are not part of this saved text.

Security & Safeguards · Restriction or exception

API Licensee security may be weaker than Robinhood's, and their end user agreements are with them, not Robinhood

By using API Products you acknowledge they may use security, policies, procedures and systems of API Licensees that may or may not be less stringent and secure than Robinhood's. Your use of API Products is subject to the Agreement in addition to any other agreements you signed about them. Any end user agreement with an API Licensee is between you and that Licensee only, not Robinhood, and the Licensee, not Robinhood, is solely responsible for its Licensee Product and its content.

Supporting quotations

such API Products may employ security, policies, procedures, and systems of API Licensees which may or may not be less stringent and secure than Robinhood’s

You agree that your use of any API Products shall be subject to this Agreement, in addition to any other agreements which you executed with respect to any such API Products.

any end user agreement that you executed with any API Licensee is concluded between you and such API Licensee only, and not with Robinhood; and such API Licensee, not Robinhood, is solely responsible for such Licensee Product and the content thereof

Qualifications & exceptions

• Your use of API Products remains subject to the Agreement in addition to other agreements.

Security & Safeguards · Context

External AI agents can place real trades and see your portfolio, and API keys are sensitive credentials

The Agreement warns that external AI agents can place real trades and access your portfolio. If you are given API keys you should treat them as sensitive credentials.

Supporting quotations

External AI agents can place real trades and access your portfolio. If you are provided an API key(s), you should treat your API key(s) as sensitive credentials.

Legal Rights & Agreement Rules · Restriction or exception

Opinions and recommendations from API Licensees are theirs, and Robinhood does not endorse them

Opinions or recommendations from Licensee Products or API Licensees are expressed solely by the Licensees and are not Robinhood's. The existence of API Products, and Robinhood's consent to connectivity between a Licensee Product and its technology, the Platform or trading platforms, is not a recommendation to invest or use any strategy, nor a representation or guarantee about the present or future value or suitability of any transaction. Information, tools and services from API Licensees or Licensee Products are not Robinhood's endorsement of them.

Supporting quotations

such opinions and recommendations are expressed solely by API Licensees and are not the opinions or recommendations of Robinhood

does not constitute (i) any recommendation by Robinhood to invest in any security or utilize any investment strategy; or (ii) any representation, warranty, or other guarantee by Robinhood as to the present or future value or suitability of any sale, trade, or other transaction involving any particular security or any other investments

shall not constitute Robinhood’s endorsement of API Licensees or the Licensee Products

Content & IP Rights · Restriction or exception

API market data feeds are discretionary and unguaranteed, and may differ from what the Platform shows

Subject to then-current agreements with API Licensees, Robinhood may in its own discretion make third-party market data feeds available through API Products, and makes no guarantees about them. API Licensees may also offer market data independent of Robinhood. There may be discrepancies between market data on the Platform and data from API Products, for reasons including update and transmission time and latency from the API Product or your local environment. Robinhood is not responsible for the accuracy of market data shown on API Products or otherwise made available by API Licensees.

Supporting quotations

Robinhood may, in its own discretion, make market data feeds received from third parties available via the API Products. Robinhood does not make any guarantees in regard to such market data feeds.

there may be discrepancy between the market data presented on the Platform and information provided by any API Products

Robinhood is not responsible for the accuracy of any market data displayed on any API Products or otherwise made available by API Licensees.

Charges & Financial Obligations · Restriction or exception

API orders may be delayed, are vetted only on receipt and may be rejected; receipt time is official

There may be latency between when an order or other Personal Information is submitted from API Products and when Robinhood receives it, and latency may affect modification and cancellation requests. The time Robinhood actually receives an order or request, including for execution, is the official time, including for routing to the market. All orders are subject to Robinhood's order vetting, and orders through API Products are not vetted until Robinhood receives them, so it may reject an order placed that way. Robinhood cannot guarantee that an order will be accepted when routed to the market, or that notifications and Personal Information will be delivered to or shown by any API Product.

Supporting quotations

there may be latency between the time an order (or other Personal Information) is submitted from the API Products and the time such order or Personal Information is received by Robinhood

The time an order or a request is actually received by Robinhood (including for execution) will be the official time

Orders created and submitted through any API Products are not vetted until they are received by Robinhood. It is possible that Robinhood may reject an order placed through any API Products.

Robinhood cannot guarantee that any order will be accepted when such order is routed to the market for execution

Qualifications & exceptions

• Latency can also affect order modification and cancellation requests.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood is not liable for API technical issues, API Licensee research, or accuracy of API data

You agree that Robinhood or its Affiliates are not liable for Losses from the issues addressed in this Section, or for Losses from technical issues involving any API Products or API Licensee technology or offerings, including outages or downtime. They are not responsible for investment research provided by any API Licensee or Licensee Product, and make no representations, warranties or guarantees about the accuracy, timeliness or efficacy of any market data, information or functionality made available by an API Licensee or API Products.

Supporting quotations

Without limiting the generality of any other terms in this Agreement, you agree that:

Robinhood or its Affiliates shall not be liable for any Losses as a result of any issues addressed in this Section, nor shall Robinhood or its Affiliates be liable for any Losses realized for technical issues involving any API Products or API Licensee technology or product offerings (including system outages or downtime).

Robinhood or its Affiliates shall not be responsible for any investment research provided by any API Licensee or any Licensee Products.

Robinhood or its Affiliates makes no representations, warranties or other guarantees as to the accuracy, timeliness or efficacy of any market data, information, or other functionality made available by any API Licensee or any API Products.

Qualifications & exceptions

• These statements are made "without limiting the generality of any other terms in this Agreement".

Content & IP Rights · Restriction or exception

API Products give you no ownership or IP rights, and names and marks stay with their owners

Using API Products does not give you title, ownership or intellectual property rights that belong to Robinhood or its affiliates. The API Package, including content, is protected by U.S. patent and copyright laws, international treaties and other laws and remains Robinhood's exclusive property as applicable. Names, logos, product and service names, design marks and slogans of Robinhood, its Affiliates or API Licensees displayed in the API Products stay the property of their owners, and use of them in marketing or provision of API Products does not give you ownership or a right to use any name or mark.

Supporting quotations

Your use of any API Products will not confer to you any title, ownership interest, or intellectual property rights that otherwise belongs to Robinhood or any of its affiliates.

will remain Robinhood’s exclusive property, as applicable

does not grant ownership of or entitle you to use any such name or mark in any manner

Sharing & Disclosure · Restriction or exception

API customers accept risk of Personal Information sharing, own-risk use, revocation at any time and personal use only

Section 29.7 has you represent and warrant that: using API Products means you accept any risk from Robinhood sharing Personal Information with an API Licensee and will not hold Robinhood, its Affiliates or their officers, directors or employees responsible for Losses from that sharing; your use of API Products or API Licensee content, technology or functionality is at your own risk; Robinhood may revoke any API Licensee's or API Product's authorization at any time, for any reason or none, without prior notice; and your access and use of API Products is solely for your own personal use.

Supporting quotations

You represent and warrant that:

By virtue of utilizing any API Products, you consent to and accept any risk associated with Robinhood’s sharing of Personal Information with any API Licensee and shall not hold Robinhood, its Affiliates, or their respective officers, directors, or employees responsible for any Losses resulting from the sharing of such Personal Information.

your use of any API Products or API Licensee’s content, information, technology, or functionality is at your own risk

Robinhood may revoke any API Licensee or API Products’ authorization at any time, for any reason, with or without cause and without prior notice to you

access and use of the API Products is solely for your own personal use and not for any other purposes

Qualifications & exceptions

• The release covers Losses resulting from sharing of Personal Information with an API Licensee.
• Revocation by Robinhood needs no cause and no prior notice.

Charges & Financial Obligations · Restriction or exception

API orders may get fewer warnings and be handled and routed differently, possibly with worse execution

Using API Products limits Robinhood's ability to give you warnings, disclosures or notifications you might receive trading through the App or Website, which may include reasons an order is rejected. Orders submitted through API Products may be rejected or cancelled like App or Website orders, and their handling and execution may differ. Robinhood may treat API Product orders differently for order handling and routing, which may result in adverse execution quality and/or speed.

Supporting quotations

your use of API Products will limit Robinhood’s ability to provide you warnings, disclosures, and or notifications that you may have otherwise receive if you trade through our App or Website

orders submitted through your use of API Products may be rejected or cancelled

Robinhood may treat orders placed using API Products differently for purposes of order handling and routing, which may result in adverse execution quality and/or speed

Qualifications & exceptions

• The execution-quality statement is "may result in adverse execution quality and/or speed".

Account & Service Control · Restriction or exception

Robinhood may terminate your account or disable API/MCP connectivity for any reason, which is not guaranteed

Under Section 4.10 Robinhood has discretion to terminate your account or disable your API/MCP connectivity for any reason, including excessive market data usage. If there is a disruption you should try to place orders through the App or Website, because API/MCP connectivity is not guaranteed. Section 4.10 itself says Robinhood may discontinue an Account or services immediately by written notice.

Supporting quotations

Per Section 4.10 of this Agreement, Robinhood has the discretion to terminate your account or disable your API/MCP connectivity for any reason, including, but not limited to, excessive market data usage.

In the event of a disruption, you should attempt to place orders through our App or Website, as they API/MCP connectivity is not guaranteed.

Qualifications & exceptions

• Excessive market data usage is an example reason ("including, but not limited to").

Account & Service Control · Context

"AI agent" and "Agentic Account" are defined, and Sections 2.3, 2.4, 4.13, 20 and 35 also apply

An "AI agent" is software that uses artificial intelligence to view Account information or place orders in your Account, whether accessed through an API Product or within the Robinhood app. An "Agentic Account" is a brokerage Account you open so an AI agent can view Account information and place orders, and it is subject to an account agreement specific to that account type. Section 29.8 applies to your use of any AI agent, and Sections 2.3, 2.4, 4.13, 20 and 35 also apply. Those cover self-directed accounts, no investment advice, third-party authorized representatives, fees, and recording and monitoring of communications.

Supporting quotations

an "AI agent" means software that uses artificial intelligence to view Account information or to place orders in your Account, whether you access that software through an API Product or within the Robinhood app

an "Agentic Account" means a brokerage Account that you open for the purpose of permitting an AI agent to view Account information and place orders in it and that is subject to an account agreement specific to that account type

This Section applies to your use of any AI agent. Sections 2.3, 2.4, 4.13, 20, and 35 also apply.

Qualifications & exceptions

• Section 29.8 applies to use of any AI agent, not only to Agentic Accounts.

Not stated here

• The account agreement specific to Agentic Accounts is not part of this saved text.

Account & Service Control · Restriction or exception

You are solely responsible for AI agent instructions and orders; revoking the agent does not undo earlier instructions

When you give instructions to an AI agent you are solely responsible for your investment decisions and for orders placed under them. Instructions entered through an AI agent are treated as your own investment decisions, and Robinhood is not liable for your investment choices or for losses from them. You are solely responsible for deciding suitability and for reviewing and verifying all details of instructions and transactions, and should review all actions your agent proposes. Your agent may override your ability to review proposed actions to the extent you prompt or instruct it to. You may revoke the agent's access at any time, but you remain bound by, and Robinhood need not cancel, reverse or unwind, any instruction the agent submitted and Robinhood received before the revocation is processed.

Supporting quotations

you are solely responsible for your investment decisions and for any orders placed in your Account pursuant to such instructions

Robinhood will not be liable for any of your investment choices or for any losses resulting from such instructions

You understand that your AI agent may override your ability to review any actions proposed by your AI agent to the extent that you prompt or instruct your AI agent to do so.

You may revoke any such AI agent's access at any time; provided, however, that you shall remain bound by, and Robinhood shall have no obligation to cancel, reverse, or unwind, any instruction submitted by such agent and received by Robinhood prior to the effective processing of such revocation.

Qualifications & exceptions

• Review can be overridden by the agent only to the extent you prompt or instruct it to.
• Revocation does not reach instructions received before it is effectively processed.

Account & Service Control · Restriction or exception

AI agent errors and malfunctions are your risk, and authenticated agent instructions are final on receipt

You acknowledge AI agents may misinterpret prompts, generate erroneous, fabricated or unintended outputs, experience latency, disconnection or other malfunction, and behave in ways you did not intend. Despite that, any instruction submitted to Robinhood from an authenticated session of your AI agent is final and binding on you upon receipt, and Robinhood has no liability for Losses arising from any such error, malfunction or unintended agent behavior.

Supporting quotations

AI agents may misinterpret your prompts, generate erroneous, fabricated, or unintended outputs, experience latency, disconnection, or other malfunction, and otherwise behave in ways you did not intend or anticipate

any instruction submitted to Robinhood from an authenticated session of your AI agent shall be final and binding upon you upon receipt by Robinhood

Robinhood shall have no liability for any Losses arising out of or relating to any such error, malfunction, or unintended behavior of your AI agent

Qualifications & exceptions

• Finality attaches to instructions from an authenticated session of your AI agent.

Charges & Financial Obligations · Restriction or exception

In a margin Agentic Account, AI agent orders can raise margin debit and Section 31 rights apply

If an Agentic Account is a margin account, orders placed by an AI agent may create or increase a margin debit, and the margin requirements, margin calls and liquidation rights in Section 31 apply to that activity regardless of the agent's settings. The sentence is cut off in the saved text and continues in the next block.

Supporting quotations

if an Agentic Account is a margin account, orders placed by an AI agent may create or increase a margin debit, and the margin requirements, margin calls, and liquidation rights in Section 31 apply to that activity regardless of the agent's settings

Qualifications & exceptions

• Applies to an Agentic Account that is a margin account.

Not stated here

• The saved text of this sentence ends without a period at the block boundary; whatever follows is in the next block.

Legal Rights & Agreement Rules · Restriction or exception

If you are subject to trading policies, you warrant your AI agent use complies and you must build in the controls

If you are an associated person of a FINRA member, associated with a registered investment adviser, or otherwise subject to employer, regulatory or institutional policies on personal trading or automated trading tools, you represent that your AI agent use complies and will continue to comply with those policies, including pre-clearance, reporting, supervisory, outside-account or compliance-system requirements. You alone must build into your AI agent any controls, restrictions or notifications needed to meet those obligations, including for an agent that operates autonomously or without your contemporaneous review. Robinhood has no obligation to identify, monitor or enforce those policies and is not liable for any violation arising from your AI agent use.

Supporting quotations

You represent that, if you are an associated person of a FINRA member, a person associated with a registered investment adviser, or are otherwise subject to employer, regulatory, or institutional policies governing your personal trading or your use of automated trading tools, your use of any AI agent in connection with your Account complies, and will continue to comply, with all such policies

You are solely responsible for implementing within your AI agent any controls, restrictions, or notifications necessary to satisfy those obligations

Robinhood has no obligation to identify, monitor, or enforce any such policies, and shall have no liability for any violation arising out of your use of an AI agent.

Qualifications & exceptions

• Applies if you are an associated person or otherwise subject to such policies.

Legal Rights & Agreement Rules · Restriction or exception

You are solely responsible for AI agent trading complying with law, including market manipulation rules

You alone must ensure all activity through an AI agent complies with Applicable Law, including prohibitions on market manipulation, spoofing, layering, wash trading, marking the close and other manipulative or disruptive practices under the federal securities laws and the rules of FINRA and any applicable exchange or self-regulatory organization. You acknowledge that orders and trading patterns produced by an AI agent, including one operating autonomously or without your contemporaneous review, may amount to such conduct, and you assume full responsibility for it whether or not you intended it.

Supporting quotations

You are solely responsible for ensuring that all activity conducted in your Account through an AI agent complies with Applicable Law, including, without limitation, prohibitions on market manipulation, spoofing, layering, wash trading, marking the close, and other manipulative or disruptive trading practices

you assume full responsibility for the same regardless of whether such conduct was intended by you

Qualifications & exceptions

• Responsibility applies regardless of whether the conduct was intended by you.

Account & Service Control · Restriction or exception

An in-app AI agent can view Account information but place orders only in an Agentic Account; other agreements control

An AI agent you access within the Robinhood app may view Account information, but can place orders only in an Agentic Account you opened for that purpose and not in any other Account you hold. Your use of such an agent is also governed by the Robinhood Agents Agreement and the account agreement for that Agentic Account, and if they conflict with this Agreement on the agent, those agreements control on that subject.

Supporting quotations

An AI agent that you access within the Robinhood app may view Account information, but it may only place orders in an Agentic Account you have opened for that purpose and may not place orders in any other Account you hold.

Your use of such an agent is also governed by the Robinhood Agents Agreement and by the account agreement for that Agentic Account, and in the event of a conflict with respect to the agent, those agreements control on that subject.

Qualifications & exceptions

• The priority rule is limited to conflicts "with respect to the agent".

Not stated here

• The Robinhood Agents Agreement and the Agentic Account agreement are not part of this saved text.

Account & Service Control · Restriction or exception

An AI agent may place orders without your review, so you may miss warnings; Robinhood disclaims liability

Depending on the settings you select, an AI agent may place orders, including on a schedule you set, without showing them to you for review and when you are not using the Platform. You alone are responsible for configuring the agent and any scheduled task. In those cases you may not receive the warnings, disclosures, fee or cost information or notifications you would get placing an order yourself, and you may have no chance to review or confirm an order before it is submitted. To the maximum extent permitted by Applicable Law, Robinhood has no liability for Losses from non-display, non-delivery or non-receipt of that information caused by your use of these settings.

Supporting quotations

Depending on the settings you select, an AI agent may place orders, including pursuant to a task you schedule to run on a recurring basis, without presenting those orders to you for review and at times when you are not using the Platform.

You are solely responsible for configuring the agent and any task you schedule.

To the maximum extent permitted by Applicable Law, Robinhood shall have no liability for any Losses arising out of or relating to the non-display, non-delivery, or non-receipt of such information as a result of your use of these settings.

Qualifications & exceptions

• Applies depending on the settings you select.
• Robinhood's no-liability statement is "to the maximum extent permitted by Applicable Law".

Account & Service Control · Permission or license

Robinhood may restrict, suspend or close an Agentic Account, including where law or security requires

Robinhood may restrict or suspend order entry into your Agentic Account, or close it, in accordance with the Agreement, including where required by Applicable Law or for security, regulatory or operational reasons.

Supporting quotations

Robinhood may restrict or suspend order entry into your Agentic Account, or close the Agentic Account, in accordance with this Agreement, including where required by Applicable Law or for security, regulatory, or operational reasons.

Qualifications & exceptions

• The listed reasons are examples ("including").

Legal Rights & Agreement Rules · Restriction or exception

Your electronic signature binds you, electronic notice suffices, and Robinhood's stored copy is the record

You agree to transact business with Robinhood electronically. Electronically signing an Account application is valid evidence of your consent to be legally bound by the Agreement and later terms governing Robinhood's services. An electronic version satisfies any requirement that a document be in writing, and you accept electronic notice as reasonable and proper under any law. Robinhood may modify the Agreement from time to time and you agree to check the Website for the latest version. Robinhood's electronically stored copy is the true, complete, valid, authentic and enforceable record, admissible in judicial or administrative proceedings as if printed, and you agree not to contest its admissibility or enforceability.

Supporting quotations

By electronically signing an application for an Account, you acknowledge and agree that such electronic signature is valid evidence of your consent to be legally bound by this Agreement and such subsequent terms as may govern the use of Robinhood’s services.

You accept notice by electronic means as reasonable and proper notice, for the purpose of any and all laws, rules and regulations.

Robinhood may modify this Agreement from time to time and you agree to consult the Website from time to time for the most up-to-date Agreement.

You agree to not contest the admissibility or enforceability of Robinhood’s electronically stored copy of the Agreement.

Qualifications & exceptions

• You agree not to contest the admissibility or enforceability of Robinhood's electronically stored copy.

Charges & Financial Obligations · Restriction or exception

Margin is provided by Robinhood Securities, and you are liable for the full amount borrowed, repayable on demand

If you elect and are approved for a margin account (a "Margin Account"), any margin extended to you is provided by Robinhood Securities. You are liable for the full amount of funds borrowed in the Margin Account and must repay it in full on demand.

Supporting quotations

To the extent you elect and are approved for a margin account (each, a “Margin Account”), any margin extended to you in connection with your Margin Account is provided by Robinhood Securities.

you are liable for the full amount of funds borrowed in your Margin Account and will be liable to repay this amount in full on demand

Qualifications & exceptions

• Applies to the extent you elect and are approved for a Margin Account.

Charges & Financial Obligations · Restriction or exception

Margin is not right for everyone, can lose more than you deposit, and you must judge suitability

Margin Accounts are not necessarily appropriate for everyone. Nothing in the Agreement, an application, or any communication by Robinhood or its Representatives recommends opening a Margin Account or any investment or strategy. Margin trading involves interest charges and risks, including losing more than you deposited or having to deposit additional collateral in a falling market. Before applying for a Margin Account and before using margin you must determine whether it is right for you given your objectives, experience, risk tolerance and financial situation.

Supporting quotations

Margin Accounts are not necessarily appropriate for everyone. Nothing in this Agreement, any application, or any communication or other statement by Robinhood or its Representatives constitutes any form of recommendation to open a Margin Account or make any specific investment or strategy.

margin trading involves interest charges and risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market

you must determine whether this type of account or trading strategy is right for you given your specific investment objectives, experience, risk tolerance, and financial situation

Charges & Financial Obligations · Restriction or exception

With a Margin Account you represent you have read the Margin Disclosure Statement and FINRA investor information

If you have, applied for or elected a Margin Account, you represent you have read and understand the Margin Disclosure Statement and FINRA Investor Information and fully understand the risks of borrowing on margin and trading securities on margin. These disclosures contain information on Robinhood's lending policies, interest charges and certain Margin Account risks.

Supporting quotations

If you have, or have applied or elected to have, a Margin Account, you represent that you have read and understand the Margin Disclosure Statement and FINRA Investor Information and that you fully understand the risks involved in borrowing margin and trading securities on margin.

These disclosures contain information on Robinhood’s lending policies, interest charges, and certain risks associated with Margin Accounts.

Qualifications & exceptions

• Applies if you have, have applied for, or have elected a Margin Account.

Not stated here

• The Margin Disclosure Statement and FINRA Investor Information are not part of this saved text.

Charges & Financial Obligations · Permission or license

Securities may be pledged, re-pledged and lent without notice, with possible tax effects on substitute dividends

Within limits set by applicable laws, rules and regulations, securities Robinhood holds or carries for you, or that are deposited to secure them, may from time to time without any notice be carried in your general loans and pledged, re-pledged, hypothecated or re-hypothecated, alone or with other securities, for the sum due on them or a greater sum, without Robinhood keeping a like amount of similar securities for delivery. The IRS requires broker-dealers to treat dividend payments on loaned positions as payments in lieu of dividends for 1099 reporting, and taxation of substitute dividend payments may be greater than the rate on qualified dividends. Robinhood agrees to deliver all securities in such accounts on your demand and payment of the full amount due, but not the same certificates or securities originally deposited. Securities in your margin or short account may be borrowed by Robinhood or lent to others.

Supporting quotations

Within the limitations imposed by applicable laws, rules and regulations, all securities now or hereafter held by Robinhood, or carried by Robinhood in any Account for you (either individually or jointly with others), or deposited to secure same, may from time to time, without any notice, be carried in your general loans and may be pledged, repledged, hypothecated or re-hypothecated

The IRS requires Broker Dealers to treat dividend payments on loaned securities positions as payments received in lieu of dividends for 1099 tax reporting purposes. Taxation of substitute dividend payments may be greater than the rate of taxation on qualified dividends.

we agree to deliver to you upon your demand and upon payment of the full amount due thereon, all securities in such accounts, but without obligation to deliver the same certificates or securities deposited by you originally

Any securities in your margin or short account may be borrowed by us, or lent to others.

Qualifications & exceptions

• Applies "within the limitations imposed by applicable laws, rules and regulations".
• Delivery on demand requires payment of the full amount due and need not be of the same certificates or securities originally deposited.

Charges & Financial Obligations · Company practice

Margin debit balances are charged interest as set out in the Margin Disclosure Statement

Debit balances in your Margin Account are charged interest in accordance with the Margin Disclosure Statement, available in the Disclosure Library.

Supporting quotations

Debit balances in your Margin Account shall be charged with interest in accordance with the Margin Disclosure Statement (available in the Disclosure Library).

Not stated here

• The interest rate is in the Margin Disclosure Statement, which is not part of this saved text.

Charges & Financial Obligations · Restriction or exception

You must maintain required margin and positions, or more if Robinhood deems it necessary, and meet calls promptly

You must maintain in your Margin Account the positions and margin required by all applicable statutes, rules, regulations, procedures and custom, or as Robinhood deems necessary or advisable. You must promptly satisfy all margin and maintenance calls.

Supporting quotations

You agree to maintain in your Margin Account with Robinhood such positions and margin as required by all applicable statutes, rules, regulations, procedures and custom, or as Robinhood deems necessary or advisable.

You agree to promptly satisfy all margin and maintenance calls.

Qualifications & exceptions

• Robinhood may require more than the legal minimum if it deems it necessary or advisable.

Charges & Financial Obligations · Permission or license

On breach or non-payment Robinhood Securities may sell across your accounts without notice, and may refuse trades

Whenever Robinhood Securities considers it necessary in its discretion for its or your protection, or on events including a breach of this or any other agreement with Robinhood or its Affiliates, or your failure to pay for or deliver securities, it may sell any or all securities and other Property in any of your Accounts or accounts with Affiliates (alone or jointly), cancel or complete open orders, or borrow or buy securities needed to deliver on a sale, including a short sale. It may do so without notice or demand for collateral or other notice, each of which you expressly waive, and may require you to deposit cash or adequate collateral before any settlement date to secure open commitments or unsettled transactions. Robinhood may refuse to execute securities transactions for you at any time and for any reason.

Supporting quotations

Whenever in its discretion Robinhood Securities considers it necessary for Robinhood’s or your protection or in the event of, but not limited to; (i) any breach by you of this or any other agreement with Robinhood or its Affiliates or (ii) your failure to pay for securities and other property purchased or to deliver securities and other property sold

Robinhood Securities may sell any or all securities and other Property held in any of your Accounts or accounts held with any of our Affiliates (either individually or jointly with others), cancel or complete any open orders for the purchase or sale of any securities and other Property

all without notice or demand for deposit of collateral, other notice of sale or purchase, or other notice or advertisement, each of which you expressly waive

Robinhood has the right to refuse to execute securities transactions for you at any time and for any reason.

Qualifications & exceptions

• The listed events are examples ("not limited to").
• The remedies reach accounts held with Affiliates as well as Robinhood Accounts.

Charges & Financial Obligations · Permission or license

All your Property at Robinhood is subject to a first lien and security interest, and may be moved among your Accounts

All securities and other Property held, carried or maintained by Robinhood in or for any of your Accounts, individually or jointly, now or later opened, including accounts in which you have an interest, are subject to a first and prior lien and security interest to discharge all of your Obligations to Robinhood, whether or not Robinhood has made advances on them. Robinhood Securities may sell or purchase any of the Property in your Accounts, or transfer it among your Accounts, to the fullest extent the law allows and without notice where law allows, and Robinhood may transfer Property between your Accounts whenever it determines. For Trust Accounts the lien extends to all assets in the Trust Account to secure Obligations owed by the Trust or the Grantor, subject to the limitations in Section 31.8.

Supporting quotations

shall be subject to a first and prior lien and security interest for the discharge of all of your Obligations to Robinhood, whenever or however arising and without regard to whether or not Robinhood have made advances with respect to such securities and other Property

Robinhood shall have the right to transfer securities and other Property so held by Robinhood from or to any other of your Accounts whenever Robinhood so determines.

For Trust Accounts, the lien and security interest described above extends to all assets held in the Trust Account to secure any Obligations owed to Robinhood by the Trust or by the Grantor, subject to the limitations in Section 31.8.

Qualifications & exceptions

• Sales and transfers are "to the fullest extent allowed by law and without notice where allowed by law".
• For Trust Accounts the lien is subject to the limitations in Section 31.8.

Charges & Financial Obligations · Permission or license

On death or inadequate margin Robinhood may sell, buy to cover shorts, cancel orders and close contracts without demand

If you die, or if margin in a Margin Account in which you have an interest becomes unsatisfactory or insufficient in the discretion of Robinhood Securities or Robinhood Financial, Robinhood may sell any or all securities or Property held for you (alone or jointly), buy securities and Property that are short in those accounts, or cancel open orders and close outstanding contracts. It may do all of this without demand for margin or more margin, notice of sale or purchase, or other notice, and a prior demand or notice is not a waiver. Robinhood Securities may rely on instructions from Robinhood Financial to do these things, decides which securities are sold and which orders or contracts closed, and may act on any exchange, in the over-the-counter market or at public auction or private sale, and may itself be the purchaser for its own account.

Supporting quotations

In the event of your death, or in the event the margin in any Margin Account in which you have an interest shall in either Robinhood Securities’ or Robinhood Financial’s discretion become unsatisfactory or be deemed insufficient, Robinhood is hereby authorized; (a) to sell any or all securities or other Property which Robinhood may hold for you

all without demand for margin or additional margin, notice of sale or purchase, or other notice or advertisement, and that any prior demand or notice shall not be a waiver of Robinhood’s rights provided herein

Robinhood Securities shall have the discretion to determine which securities and other Property are to be sold and which orders or contracts are to be closed.

Robinhood Securities may be the purchaser for its own account

Qualifications & exceptions

• Triggered by your death or margin that Robinhood Securities or Robinhood Financial considers unsatisfactory or insufficient.
• Robinhood Securities may buy for its own account.

Charges & Financial Obligations · Permission or license

You owe Obligations on demand; Robinhood may offset against your accounts, bank account and linked instruments

You are always liable to pay Obligations owed to Robinhood on demand, and for any deficiency left after liquidation of your accounts, whether by Robinhood or by you. You authorize Robinhood to recover amounts you owe, and to debit, charge or exercise a right of offset against the balance of your Account, your external bank account, any account you own with an Affiliate, any other present or future account carried by Robinhood or its Affiliates in which you have a beneficial interest (meaning you are entitled to the economic benefit of its assets whether or not you are the registered owner), or any other payment instrument linked to your Account.

Supporting quotations

You shall at all times be liable for the payment upon demand of any Obligations owing from you to Robinhood, and you shall be liable to Robinhood for any deficiency remaining in any such accounts in the event of the liquidation thereof

You authorize Robinhood to recover amounts you owe, and to debit, charge or otherwise exercise a right of offset to recover funds from the balance in your Account, your external bank account, any account you own with an Affiliate of Robinhood

any other present or future account carried by Robinhood or its Affiliates in which you have a beneficial interest (meaning you are entitled to the economic benefit of the account's assets, whether or not you are the account's registered owner), or any other payment instrument linked to your Account

Qualifications & exceptions

• "Beneficial interest" is defined as entitlement to the economic benefit of the account's assets, whether or not you are the registered owner.
• The offset reaches your external bank account and linked payment instruments, not only accounts at Robinhood.

Charges & Financial Obligations · Permission or license

Robinhood may settle negative balances at Affiliates by liquidating or transferring assets from your Account

If you have a negative balance in any account you own with an Affiliate of Robinhood, you authorize Robinhood, at its option and without notice, to settle negative balances in Affiliate accounts or debts owed to Robinhood or its Affiliates by liquidating or otherwise transferring assets in your Account to Robinhood or its Affiliates. Robinhood or its Affiliates may also charge any consequential loss to your Account.

Supporting quotations

you authorize Robinhood, at our option and without notice to you, to settle any and all negative balances in an account you own with an Affiliate of Robinhood or debts owed to us or our Affiliates by liquidating or otherwise transferring any assets in your Account to us or our Affiliates

We or our Affiliates may also charge any consequential loss to your Account.

Qualifications & exceptions

• Authorization is at Robinhood's option and without notice.

Charges & Financial Obligations · Permission or license

The offset authority survives termination and extends to any other rights needed to recover, without notice

The authorization and right of offset survive termination of your Account and the Agreement. If Robinhood's attempt to recover funds does not succeed, you agree the authorization includes a grant of any additional authorizations or rights of offset needed to recover the amount you owe, in complete compliance with applicable laws, rules or industry regulations. Robinhood may take these actions without prior notice to you.

Supporting quotations

This authorization and/or right of offset shall survive termination of your Account and this Agreement.

you agree that the authorization and/or right of offset hereunder includes a grant to Robinhood of any additional authorizations and/or rights of offset required to recover the amount you owe to Robinhood in complete compliance with any applicable laws, rules or industry regulations

Robinhood may take these actions without prior notice to you.

Qualifications & exceptions

• Additional rights are limited by "complete compliance with any applicable laws, rules or industry regulations".

Charges & Financial Obligations · Restriction or exception

Grantors with a beneficial interest can be offset against their Trust Accounts; non-beneficial Trustees are protected

If you are the Grantor of a trust in which you keep a beneficial interest, you are deemed to have a beneficial interest in its assets, and Robinhood may offset obligations between your individual accounts and any Trust Accounts you are Grantor of. A Trustee who is not also a beneficial owner of the Trust's assets has no beneficial interest for this section, and Robinhood will not offset a Trust Account obligation against that Trustee's personal account unless that Trustee's instructions or actions gave rise to the obligation.

Supporting quotations

If you are the Grantor of a trust in which you retain a beneficial interest, you are deemed to have a beneficial interest in its assets and Robinhood may offset obligations between your individual accounts and any Trust Accounts for which you are the Grantor.

A Trustee who is not also a beneficial owner of the Trust's assets does not have a beneficial interest for purposes of this section, and Robinhood will not offset a Trust Account obligation against such Trustee's personal account except where such Trustee's instructions or actions gave rise to the obligation.

Qualifications & exceptions

• The Trustee protection has one exception: where that Trustee's own instructions or actions gave rise to the obligation.

Charges & Financial Obligations · Restriction or exception

You must designate short sales; undesignated sales are long sales you must deliver by settlement date

You must specifically designate any order to sell a security you do not hold in your Account as a "short sale", and Robinhood will mark it as one. Any order not designated a short sale is a "long sale" of securities held in your Account, and you will deliver the securities on or before settlement date. If a security is not in your Account and a long sale is processed, you must promptly deliver it to Robinhood in good deliverable form on or before the settlement date.

Supporting quotations

You agree to specifically designate any order to sell a security that you do not hold in your Account as a “short sale” and understand that Robinhood will mark such an order as a short sale.

You agree that any order which is not specifically designated as a short sale is a “long sale” of securities held in your Account and that You will deliver the securities on or before settlement date.

If a security is not held in your Account and a long sale is processed, you must promptly deliver such security to Robinhood for receipt in good deliverable form on or before the settlement date.

Charges & Financial Obligations · Restriction or exception

Long sales without securities in your Account can be cancelled or bought in, and you bear the resulting Losses

A long sale placed without negotiable certificates or positions in your Account is subject, at Robinhood's sole discretion, to cancellation or buy-in. Proceeds are not paid or released to your Account until Robinhood has received the security in good deliverable form, from a transfer agent or from you, and settlement is complete. If the security is not received by settlement date, or as market conditions warrant, Robinhood may in its sole discretion buy it on the open market for your Account and liquidate and close out any and all securities in your Account to pay for the purchase. If a security is bought in you are responsible for all resulting Losses Robinhood incurs.

Supporting quotations

Any long sale placed without negotiable certificates or positions in your Account will be subject, at Robinhood’s sole discretion, to cancellation or buy-in.

Proceeds of a long sale will not be paid to you or released into your Account until Robinhood has received the security in good deliverable form

Robinhood may in its sole discretion purchase the security on the open market for your Account and may liquidate and close out any and all securities in your Account to pay for such purchase

If a security is bought in, you will be responsible for all resulting Losses incurred by Robinhood.

Qualifications & exceptions

• Buy-in may also occur "as market conditions warrant", not only after the settlement date.

Charges & Financial Obligations · Restriction or exception

Short sales need a Margin Account and acceptable collateral; Robinhood may buy in shorts without notice

You may execute short sales only in a Margin Account, and they must comply with applicable short sale rules. You must provide collateral of a type and amount acceptable to Robinhood for all short sales. Robinhood can at its discretion and without notice "buy in" securities to cover any short position, on a regular settlement or cash settlement basis. If you cannot cover a short position in time for Robinhood to deliver to its lender, you must reimburse Robinhood for losses from your failure to deliver. If Robinhood buys in the security it may cancel your other open orders in the same security. Short sale orders are subject to the risk of unlimited losses.

Supporting quotations

You understand that you may execute short sales only in a Margin Account and that such execution must comply with applicable short sales rules. You agree to provide collateral of a type and amount acceptable to Robinhood for all short sales in your Account.

You agree that we can, at our discretion and without notice, “buy in” securities to cover any short security position in your account.

you agree to reimburse us for the losses we sustain as a result of your failure to deliver the security

You understand short sale orders are subject to the risk of unlimited losses.

Qualifications & exceptions

• Buy-in is at Robinhood's discretion and without notice.

Charges & Financial Obligations · Company practice

Robinhood may charge a daily Stock Borrow Fee on any open short position at a variable borrow rate

Robinhood may charge fees for borrowing stock for short selling. If you have an open short position, whether from short selling, option exercise or assignment, account transfer or otherwise, Robinhood can charge a Stock Borrow Fee. The fee is the largest short position held open that day multiplied by the end-of-day market price multiplied by the quoted borrow rate divided by 360. It is subject to change daily and can be charged until a trade closing the short position settles. Daily fees are aggregated monthly and shown on your statement. The borrow rate varies with supply and demand in the securities lending market, and Robinhood can seek to charge any rate consistent with its view of competitive necessities.

Supporting quotations

If you have an open short position in your Account, whether it is established through short selling, option exercise or assignment, account transfer, or otherwise, Robinhood can charge a Stock Borrow Fee.

The fee is calculated as the largest short position you held open that day multiplied by the end of day market price multiplied by the quoted borrow rate divided by 360.

This Stock Borrow Fee is subject to change daily and can be charged until a trade closing the short position settles.

You understand that Robinhood can seek to charge you any rate consistent with Robinhood’s view of competitive necessities.

Qualifications & exceptions

• The fee applies to any open short position however it arose, not only short selling.
• The rate can change daily.

Charges & Financial Obligations · Restriction or exception

You pay Robinhood's losses and attorneys' fees for collecting deficits or defending matters from your transactions

Without limiting other indemnities, all Losses, including reasonable attorneys' fees and expenses, that Robinhood incurs in collecting a debit balance or unpaid deficiency in any of your Accounts, or in defending any matter arising out of your securities transactions, are payable to Robinhood by you.

Supporting quotations

all Losses, including but not limited to reasonable attorneys’ fees and expenses, incurred and payable or paid by Robinhood in the (i) collection of a debit balance or any unpaid deficiency in any of your Accounts with Robinhood or (ii) defense of any matter arising out of your securities transactions, shall be payable to Robinhood by you

Qualifications & exceptions

• Covers collection of debit balances or deficiencies and defense of matters arising from your securities transactions.

Charges & Financial Obligations · Restriction or exception

Extended Hours trading may be limited, excludes IPO first days and carries risks you accept

In certain circumstances you may trade outside regular hours of 9:30 a.m. to 4:00 p.m. Eastern ("Extended Hours"). This may be limited to certain account types or other eligibility criteria, and available order types may be limited. You may not execute Extended Hours trades in an IPO on its first day of trading. By participating you are deemed to understand and accept the unique risks, including those in the Extended Hours Trading Disclosure in the Disclosure Library. If that Disclosure conflicts with the Agreement, the Agreement controls.

Supporting quotations

This ability may be limited to certain account types or other eligibility criteria, and the order types available for Extended Hours trading may be limited.

You may not execute Extended Hours trades in an IPO on its first day of trading.

by participating in this type of trading, you are deemed to understand and agree to accept such risks, including those set out in the Extended Hours Trading Disclosure available in the Disclosure Library

If any terms of the Extended Hours Trading Disclosure conflict with any terms of this Agreement, the terms of this Agreement will control.

Qualifications & exceptions

• Availability is limited to certain account types or eligibility criteria.

Not stated here

• The Extended Hours Trading Disclosure is not part of this saved text.

Use & Processing · Permission or license

Robinhood and its service providers, including debt collectors, may contact you by mail, phone, email or in-app channels

By providing information Robinhood requests, opening or applying for an Account, maintaining an Account, or downloading any App, you agree that Robinhood and its third-party service providers, including third-party debt collection agencies, may contact you by mail, phone, email or other details you provided, or by any other electronic or other communication facility available through the Platform or a third-party provider, such as chat, voice or messaging.

Supporting quotations

by providing information Robinhood requests, opening or applying to open, or maintaining an Account, or by downloading any App, Robinhood and its third-party service providers, including third-party debt collection agencies, may contact you

via any other form of electronic or other communications facility available via the Platform or a third party service provider such as “chat”, “voice”, or messaging functionality

Qualifications & exceptions

• Consent arises from providing requested information, opening, applying, maintaining an Account or downloading an App.

Data Access & Collection · Permission or license

If you give a phone number, you consent to calls and texts, including automated and telemarketing, and number sharing

If you give Robinhood a phone number, you warrant it is yours and promise to notify Robinhood if it changes, and you consent to calls and text messages at any time of day to that number that may be prerecorded or made with an automatic telephone dialing system. Purposes include but are not limited to account-related communications (including security alerts), telemarketing, investigating or preventing fraud, and collecting amounts owed. Robinhood may share your number with third-party service providers for those purposes, including debt collectors. Message, minute and data rates may apply on mobile numbers. You may opt out of these types of calls at any time orally or in writing to privacy@robinhood.com, but even if you opt out Robinhood may still make other calls as permitted by law.

Supporting quotations

you consent to receive calls (including text messages) at any time of day made to that phone number that may be prerecorded or completed with an automatic telephone dialing system (automated calls) for purposes including but not limited to providing account-related communications (including security alerts), telemarketing, investigating or preventing fraud, or collecting amounts owed to Robinhood

We may share your number with third parties that provide services to us in connection with any of the foregoing purposes, including but not limited to debt collectors.

You may opt out at any time from receiving these types of calls orally or in writing to privacy@robinhood.com. Please note, even if you opt out, we may still make other calls as permitted by law.

Qualifications & exceptions

• Consent covers prerecorded and automatically dialed calls and texts at any time of day.
• Opting out stops "these types of calls"; other calls permitted by law may continue.

Account & Service Control · Permission or license

You consent to electronic delivery of all "Account Documents", broadly defined

By agreeing to electronic delivery you give informed consent to receive all Account Documents electronically. "Account Documents" include notices, disclosures, current and future account statements, regulatory and shareholder communications such as prospectuses, proxy solicitations and privacy notices, trade confirmations, tax-related documents, and any other information, documents, data and records about your Account, the Agreement (including amendments) and the agreements and disclosures governing services from Robinhood, issuers of securities in which you invest, and other parties. You agree you can access, view, download, save and print any Account Documents delivered electronically.

Supporting quotations

By agreeing to electronic delivery, you are giving your informed consent to electronic delivery of all

“Account Documents” include notices, disclosures, current and future account statements, regulatory and shareholder communications (such as prospectuses, proxy solicitations, and privacy notices), trade confirmations, tax-related documents, and any other information, documents, data, and records regarding your Account, this Agreement (including amendments to this Agreement)

You agree that you can access, view, download, save, and print any Account Documents you receive via electronic delivery for your records.

Qualifications & exceptions

• Account Documents include amendments to the Agreement and privacy notices.

Account & Service Control · Company practice

Account Documents are deemed delivered personally when sent or posted, whether or not you receive them

Robinhood's primary ways of communicating are posting on the Website, providing information in the App, emailing your address of record, and, where law requires, a notice directing you to the Platform to read and print. Unless law requires otherwise, Robinhood may post Account Documents on the Website without notice, and may also send them to your postal or email address of record or through the Platform. You agree that Account Documents delivered any of these ways are considered delivered to you personally when sent or posted, whether you receive them or not.

Supporting quotations

Robinhood’s primary methods of communication with you include (A) posting information on the Website, (B) providing information via the App, (C) sending email(s) to your email address of record

Unless otherwise required by law, Robinhood reserves the right to post Account Documents on the Website without providing notice to you.

You agree that all Account Documents provided to you in any of the foregoing manners are considered delivered to you personally when sent or posted by Robinhood, whether you receive it or not.

Qualifications & exceptions

• Website posting may be without notice "unless otherwise required by law".

Account & Service Control · Restriction or exception

You must keep a working email address, check the Website regularly, and accept spam, shared-access and employer risks

Email notifications about Account Documents go to your email address of record, which you must keep until you give a new one. For Trust Accounts Robinhood may treat any authorized Trustee's email as the address of record, with delivery valid for the Trust and all Co-Trustees. Robinhood may email you at any time of day. Emails can fail or land in spam, and you are solely responsible for making sure Robinhood emails are not marked as spam. If a notification cannot be delivered because you did not keep a valid, deliverable email, it is sent by postal mail for a fee under Section 34.3 and the Fee Schedule. Regardless of whether you receive an email, you must check the Website regularly for information including amendments and time-sensitive communications. If you let someone else access your email you must tell them to share Account Documents with you and you accept the risk they see sensitive information; with a work email or device, your employer or colleagues may see Account Documents.

Supporting quotations

You agree to maintain the email address that you have provided Robinhood until you provide Robinhood with a new

For Trust Accounts, Robinhood may treat the email address of any authorized Trustee as the valid email address of record, and delivery to that address constitutes valid delivery to the Trust and all Co-Trustees.

it is your sole responsibility to ensure that any emails from Robinhood or its Affiliates are not marked as SPAM

such notification will be sent to you via postal mail for a fee, as described in Section 34.3, below, and in the Fee Schedule

you agree to check the Website regularly to avoid missing any information, including amendments or supplements to this Agreement, or time-sensitive or otherwise important communications

you accept the risk that they will see your sensitive information

Qualifications & exceptions

• Postal mail delivery for an undeliverable email comes with a fee, described in Section 34.3 and the Fee Schedule.

Security & Safeguards · Restriction or exception

Do not send confidential details by unencrypted email; you hold Robinhood harmless for third-party access

You acknowledge the Internet is not a secure network and agree not to send confidential information, including account numbers or passwords, in unencrypted emails. You understand communications over the Internet may be accessed by unauthorized or unintended third parties, and you agree to hold Robinhood, its Affiliates and their officers and employees harmless for any such access regardless of the cause.

Supporting quotations

you will not send any confidential information, including Account numbers or passwords, in any unencrypted emails

communications transmitted over the Internet may be accessed by unauthorized or unintended third parties and agree to hold Robinhood, its Affiliates, and Robinhood and its Affiliates’ respective officers and employees harmless for any such access regardless of the cause

Qualifications & exceptions

• The hold-harmless applies "regardless of the cause".

Account & Service Control · Restriction or exception

You must review Account Documents and object in writing within five days or they are treated as accurate

You must promptly and carefully review all Account Documents on delivery and notify Robinhood Financial in writing within five days (or any other period stated in them) if you object to the information. If you do not object in writing in time, Robinhood is entitled to treat the information as accurate and conclusive. You must contact Robinhood to report problems accessing Account Documents.

Supporting quotations

You agree to promptly and carefully review all Account Documents when they are delivered and notify Robinhood Financial in writing within five days of delivery if you object to the information provided (or other such time specified therein).

If you fail to object in writing within such time, Robinhood is entitled to treat such information as accurate and conclusive.

Qualifications & exceptions

• Five days runs from delivery, or a different period if the document states one.

Charges & Financial Obligations · Company practice

You bear your own internet and phone costs, and Robinhood Financial adds no online access fee

Costs of electronic delivery may include charges from Internet access providers and telephone companies, which you agree to bear. Robinhood Financial will not charge you additional online access fees for receiving electronic delivery of Account Documents.

Supporting quotations

Potential costs associated with electronic delivery of Account Documents may include charges from Internet access providers and telephone companies, and you agree to bear these costs.

Robinhood Financial will not charge you additional online access fees for receiving electronic delivery of Account Documents.

Charges & Financial Obligations · Company practice

If your email is undeliverable, Robinhood may charge a fee per postal re-delivery and deduct it from your Account

If you do not keep a valid, deliverable email address of record, Robinhood may charge a fee for certain documents that must be re-delivered by postal mail, and you incur it for each postal delivery until you update your email address. The documents subject to fees and the amounts are in the Fee Schedule. You agree Robinhood may deduct these fees from your Account consistent with the Agreement, including Section 28, under which Robinhood may sell securities to satisfy a debit or other obligation owed to it.

Supporting quotations

if you fail to maintain a valid and/or deliverable email address of record on your Account, Robinhood reserves the right to charge you a fee for certain documents that must be re-delivered via postal mail

You will incur such fee for each instance of postal mail delivery until such time as you update your email address.

You agree that Robinhood may deduct these fees from your Account consistent with the terms of this Agreement, including but not limited to the provisions in Section 28 of this Agreement.

Robinhood may (but is not required to) sell, assign and deliver all or any part of the securities in your Account

Qualifications & exceptions

• The fee is charged for each instance of postal mail delivery until you update your email address.

Not stated here

• The fee amounts are in the Fee Schedule, which is not part of this saved text.

Account & Service Control · User right or choice

You can request electronic copies of statements and confirmations, subject to availability

On request you may obtain electronic copies of account statements and trade confirmations, subject to availability.

Supporting quotations

Upon your request, you may obtain electronic copies of account statements and trade confirmations, subject to availability.

Qualifications & exceptions

• Subject to availability.

Account & Service Control · User right or choice

E-delivery consent is required for an Account; revoking it lets Robinhood Financial restrict or close it

Consent to electronic delivery is required to establish and maintain an Account with Robinhood Financial. Subject to the Agreement, you may revoke or restrict your consent at any time by notifying Robinhood Financial in writing. If you do, Robinhood Financial has the right to restrict or close your Account and end your access to Robinhood's services. Robinhood may choose to deliver Account Documents by other means, such as postal mail, which does not revoke or affect your consent. Revocation or restriction, and paper delivery, do not affect the validity of electronic communications provided while consent was in effect.

Supporting quotations

Consent to electronic delivery of documents is required to establish and maintain an Account with Robinhood Financial.

you may revoke or restrict your consent to electronic delivery of Account Documents at any time by notifying Robinhood Financial in writing of your intention to do

if you revoke or restrict your consent to electronic delivery of Account Documents, Robinhood Financial has the right to restrict and/or close your Account, and terminate your access to Robinhood’s services

Robinhood may elect to deliver Account Documents by other means, including paper delivery via postal mail, which will not revoke or otherwise affect your consent.

Qualifications & exceptions

• Revocation must be in writing; consequences include restriction or closure of the Account.

Account & Service Control · Procedure

E-delivery consent lasts until revoked, and revocation can take up to three Business Days to process

Your consent to electronic delivery is effective immediately and stays in effect until you or Robinhood Financial revokes it. A revocation can take up to three Business Days to process, and you may keep receiving electronic notifications until it is processed.

Supporting quotations

Your consent to receive electronic delivery of Account Documents will be effective immediately and will remain in effect unless and until either you or Robinhood Financial revokes it.

it may take up to three Business Days to process a revocation of consent to electronic delivery, and that you may receive electronic notifications until such consent is processed

Account & Service Control · Restriction or exception

E-delivery needs Internet access and a valid email; report email changes immediately in writing

To receive electronic deliveries you need a computer or Mobile Device with Internet access, a valid email address, and the ability to download applications Robinhood Financial specifies and to which you have access. To download, print or save information you need a printer or other device. You confirm you have read and understood the electronic delivery consent and agree to all its conditions, will maintain a valid email address and continued Internet access, and will immediately notify Robinhood Financial in writing of a new email address if yours changes.

Supporting quotations

in order to receive electronic deliveries, you must have access to a computer or Mobile Device with Internet access, a valid e-mail address, and the ability to download such applications as Robinhood Financial may specify and to which you have access

You will maintain a valid email address and continue to have access to the Internet. If your email address changes, you agree to immediately notify Robinhood Financial of your new email address in writing.

Qualifications & exceptions

• Email change notice must be immediate and in writing.

Data Access & Collection · Permission or license

Robinhood and its service providers may record and monitor your telephone and electronic communications

You agree that Robinhood or its third-party service providers acting for it may record and monitor any telephone or electronic communications with you.

Supporting quotations

You understand and agree that Robinhood or our third-party service providers acting on our behalf may record and monitor any telephone or electronic communications with you.

Data Access & Collection · Permission or license

If you use an AI agent, Robinhood may record, retain, review and use your prompts, outputs and agent activity records

If you use an AI agent with your Account, Robinhood and its affiliates may record, retain, review and use your prompts to the agent, the agent's output and memory, the directives and run records of any scheduled task you create, and records of the orders and other actions the agent takes. They may use those records for supervision, compliance monitoring, market surveillance, fraud and security investigations, recordkeeping required by Applicable Law, handling complaints and disputes, litigation, and responding to regulators and self-regulatory organizations, and may produce them to a regulator, self-regulatory organization or other authority where required or permitted. This applies whether or not the agent's output is attributable to Robinhood for any other purpose.

Supporting quotations

if you use an AI agent in connection with your Account, Robinhood and its affiliates may record, retain, review, and use your prompts to that agent, the agent's output, its memory, the directives and run records of any scheduled task you create, and records of the orders and other actions the agent takes

Robinhood and its affiliates may use those records for supervision, compliance monitoring, market surveillance, fraud and security investigations, recordkeeping required by Applicable Law, the handling of complaints and disputes, litigation, and responding to regulators and self-regulatory organizations, and may produce them to a regulator, self-regulatory organization, or other authority where required or permitted

This applies whether or not the agent's output is attributable to Robinhood for any other purpose

Qualifications & exceptions

• Applies if you use an AI agent in connection with your Account.
• Production to authorities is where required or permitted.

Retention & Deletion · Restriction or exception

You may not record calls without written agreement, and Robinhood does not guarantee recordings are kept

Unless otherwise agreed in writing in advance, Robinhood does not consent to the recording of telephone conversations by any third party or by you. Not all telephone or electronic communications are recorded by Robinhood, and Robinhood does not guarantee that recordings of any particular communication will be retained or retrievable.

Supporting quotations

Unless otherwise agreed in writing in advance, Robinhood does not consent to the recording of telephone conversations by any third party or by

you. You acknowledge and understand that not all telephone or electronic communications are recorded by Robinhood, and Robinhood does not guarantee that recordings of any particular telephone or electronic communications will be retained or capable of being retrieved.

Qualifications & exceptions

• The no-recording position can be changed by written agreement made in advance.

Sharing & Disclosure · User right or choice

Robinhood must disclose your name, address and positions to issuers on request unless you object by email

Rule 14b-1(c) of the Securities Exchange Act, unless you object, requires Robinhood to disclose to an issuer, on its request, the names, addresses and securities positions of customers who are beneficial owners of the issuer's securities held by Robinhood in nominee name. The issuer may use your name and related information for corporate communication only. To object, email support@robinhood.com with "Rule 14b-1(c) objection" in the subject.

Supporting quotations

Rule 14b-1(c) of the Securities Exchange Act, unless you object, requires Robinhood to disclose to an issuer, upon its request, the names, addresses, and securities positions of your customers who are beneficial owners of the issuer’s securities held by us in nominee name.

The issuer would be permitted to use your name and other related information for corporation communication only.

If you wish to object, you agree to send an email to support@robinhood.com with “Rule 14b-1(c) objection” in the subject.

Qualifications & exceptions

• The issuer may use the information for corporate communication only.
• Disclosure applies unless you object.

Account & Service Control · Company practice

From November 18, 2026 your Account is automatically enrolled in a Class Action Service unless you unenroll

The terms of Section 36A are effective on or after November 18, 2026. Your Account is automatically enrolled in Robinhood's Class Action Service unless you unenroll as described in that section. Closed Accounts are not included. If you unenroll entirely or decline a particular class action, you may still file a claim form directly with the claims administrator.

Supporting quotations

The terms of this Section 36A are effective on or after November 18, 2026.

Your Account is automatically enrolled in Robinhood's Class Action Service (the "Class Action Service"), unless you unenroll as described in this Section 36A.

Closed Accounts are not included in the Class Action Service.

you may still submit a claim form directly to the applicable claims administrator to take part in that lawsuit

Qualifications & exceptions

• Effective on or after November 18, 2026.
• Closed Accounts are not included.

Not stated here

• The unenrollment steps are described later in Section 36A.

Account & Service Control · Permission or license

Enrollment lets Robinhood and a vendor automatically file class action claims for your securities

Your enrollment in the Class Action Service exclusively authorizes Robinhood and the third-party vendor described in the section to automatically file a claim for you if Robinhood receives notice of a class action lawsuit involving securities purchased in your Account ("Involved Security"). Robinhood notifies you in advance of submitting any claim your Account qualifies for, so you can exclude your Account from that specific lawsuit.

Supporting quotations

your enrollment in the Class Action Service exclusively authorizes Robinhood and the third-party vendor described in this section to automatically file a claim for you if we receive notice of a class action lawsuit that involves securities purchased in your Account ("Involved Security")

We will notify you in advance of the submission of any class action claim for which your Account qualifies, to provide you with an opportunity to exclude your Account from that specific class action lawsuit.

Qualifications & exceptions

• The authorization is exclusive to filing claims for class actions involving securities purchased in your Account.
• Advance notice lets you exclude a specific lawsuit.

Account & Service Control · User right or choice

You can decline a specific class action claim within seven Business Days of notice; otherwise Robinhood files it

Robinhood notifies you in advance of submitting any class action claim your Account qualifies for, so you can exclude your Account from that specific lawsuit. You may decline a particular lawsuit by telling Robinhood through the Platform or contacting Customer Service within seven Business Days from the date you receive notice, without unenrolling. If you do not, the Class Action Service automatically files a class action claim for you. If you unenroll before the seven Business Day period for a lawsuit ends, you will not take part in that lawsuit through the Class Action Service.

Supporting quotations

You may decline to participate in a particular class action lawsuit by notifying us through the Platform or contacting Robinhood Customer Service within seven Business Days from the date you receive notice of that lawsuit, without unenrolling from the Class Action Service.

If you do not notify us within that seven Business Day period, the Class Action Service will automatically file a class action claim for you.

If you unenroll from the Class Action Service before the seven Business Day period described above has ended for a particular class action lawsuit, you will not participate in that lawsuit through the Class Action Service.

Qualifications & exceptions

• The seven Business Day period runs from the date you receive notice of that lawsuit.

Account & Service Control · User right or choice

You can unenroll any time, but filed claims continue; Robinhood may end the service

You may cancel enrollment in the Class Action Service at any time through the Platform or Customer Service. Unenrolling or closing your Account after a claim has been filed does not remove you from that class action. Robinhood may terminate the service at any time with notice. If you are entitled to a settlement, you receive a credit to the Account in which you held the Involved Security, even if the Account is no longer open at settlement.

Supporting quotations

You may cancel your enrollment in the Class Action Service at any time by notifying us through the Platform or by contacting Robinhood Customer Service.

Unenrolling from the Class Action Service or closing your Account after a claim has been filed for you will not remove you from participation in that particular class action lawsuit.

We may terminate the Class Action Service at any time with notice to you.

you will receive a credit to your Account in which you held the Involved Security, regardless of whether the Account remains open at the time of settlement

Qualifications & exceptions

• Unenrolling or closing the Account does not undo a claim already filed.

Legal Rights & Agreement Rules · Permission or license

By enrolling you let a vendor act as your agent and attorney-in-fact on claims and accept the settlement releases

Robinhood uses a third-party vendor to administer the Class Action Service. By enrolling, you agree Robinhood may appoint the vendor as your agent and attorney-in-fact with full power to act for you, to the full extent you could act in person, to prepare, file, accept and process class action claims and settlement payments, including accepting, endorsing, depositing and dealing with any check, instrument or other payment from a claims administrator. You also agree to be bound by the releases in any settlement for which the Class Action Service filed a claim for you.

Supporting quotations

By enrolling in the Class Action Service, you agree that we have the authority to appoint this third-party vendor as your agent and attorney-in-fact with full power and authority to act on your behalf (to the full extent you could act in person) to prepare, file, accept, and process class action claims and settlement payments

including to accept, endorse, deposit and otherwise deal with any check, instrument, or other payment from a claims administrator

you will be bound by the releases included in any settlement for which the Class Action Service has filed a claim on your behalf

Qualifications & exceptions

• The vendor acts as your agent and attorney-in-fact with full power for these class action purposes.

Charges & Financial Obligations · Company practice

A fee is deducted from class action settlements, and any unpaid fee becomes your Obligation

A fee is deducted from any class action settlement payment received for you before proceeds are deposited into your Account, as detailed in the RHF Fee Schedule in the Disclosure Library. If you receive a settlement payment for a claim processed by the service and the fee has not been collected, you agree to pay it. The unpaid fee is an Obligation you owe, and you authorize Robinhood to recover it by debiting your Account or exercising its other rights of offset under the Agreement.

Supporting quotations

A fee will be deducted from any class action settlement payment received for you prior to deposit of proceeds into your Account.

If you receive a class action settlement payment for a claim processed by the Class Action Service, and the applicable fee has not been collected, you agree to pay the applicable fee to us.

You acknowledge that the unpaid fee creates an Obligation owed by you, and you authorize us to recover the owed funds by debiting your Account or exercising our other rights of offset under this Agreement.

Qualifications & exceptions

• The fee amount is in the RHF Fee Schedule.

Not stated here

• The fee amount is not stated in this saved text.

Legal Rights & Agreement Rules · Restriction or exception

Once the service files a claim, you cannot sue the defendants separately or file your own claim form

You agree you cannot at any time separately sue any named defendant over a particular class action for which the Class Action Service filed a claim for you. Once it files a claim, you will not assert dissenters' or similar rights under Applicable Law, any right to require partition or appraisal of the company that is the subject of the class action or its assets or to force a sale of its property, or any right to maintain an action for partition or compel a sale concerning shares held by other shareholders or the company's property. You also agree not to separately submit a claim form directly to a claims administrator for any settlement in which a claim is filed for you through the service.

Supporting quotations

You agree that you cannot separately bring a lawsuit, at any time, against any named defendant in connection with a particular class action lawsuit for which the Class Action Service has filed a claim for you.

you will not assert: (i) any dissenters' or similar rights under any Applicable Law; (ii) any right to require partition or appraisal of any company that is the subject of the class action lawsuit

you will not separately submit a claim form directly to a claims administrator for any class action settlement in which a claim is filed for you through the Class Action Service

Qualifications & exceptions

• Applies to class actions for which the Class Action Service has filed a claim for you.

Legal Rights & Agreement Rules · Restriction or exception

Class action participation is not guaranteed, you indemnify Robinhood, and notices are Account Documents

Enrollment does not guarantee a settlement payment. Neither Robinhood nor its Affiliates take responsibility for the outcome of any class action, and you agree to indemnify and hold harmless Robinhood and its Affiliates for all actions taken in connection with the Class Action Service. Class action event notifications are Account Documents and are delivered under Section 34, under which Account Documents are deemed delivered when sent or posted whether or not you receive them.

Supporting quotations

Enrollment in the Class Action Service does not guarantee that you will receive a settlement payment for any class action lawsuit.

you agree to indemnify and hold harmless Robinhood and its Affiliates for all actions taken in connection with the Class Action Service

Class action event notifications sent in connection with the Class Action Service constitute Account Documents and will be delivered to you in accordance with Section 34 of this Agreement.

You agree that all Account Documents provided to you in any of the foregoing manners are considered delivered to you personally when sent or posted by Robinhood, whether you receive it or not.

Qualifications & exceptions

• The indemnity covers all actions taken in connection with the Class Action Service.

Account & Service Control · Context

Robinhood Customer Service can be reached at support.robinhood.com or help@robinhood.com

Robinhood Customer Service may be contacted by visiting support.robinhood.com or by email at help@robinhood.com.

Supporting quotations

Robinhood Customer Service may be contacted by visiting support.robinhood.com or by email at help@robinhood.com.

Legal Rights & Agreement Rules · Context

Headings do not change meaning, "including" means without limitation, and references to law include later amendments

Headings are for description only and do not modify or qualify rights or obligations or help interpret provisions. A reference to a Section means a Section of the Agreement unless otherwise indicated. "Include", "includes" and "including" are followed by "without limitation", and "or" is inclusive (and/or). Unless context requires otherwise, singular includes plural and the reverse, and "hereof", "herein" and "hereunder" refer to the entire Agreement. References to any law mean that law as amended from time to time and its rules and regulations. "Days" means calendar days unless indicated otherwise.

Supporting quotations

The heading of each provision hereof is for descriptive purposes only and shall not be (1) deemed to modify or qualify any of the rights or obligations set forth herein or (2) used to construe or interpret any of the provisions hereunder.

Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”

References to any law shall be deemed to refer to such law as amended from time to time and to any rules or regulations promulgated thereunder. References to “days” means calendar days unless indicated otherwise.

Qualifications & exceptions

• Headings are not to be used to interpret the provisions, so section titles do not limit the text under them.

Legal Rights & Agreement Rules · Restriction or exception

The Agreement binds your heirs and successors; you need consent to assign it, Robinhood does not

The Agreement binds your heirs, assigns, executors, successors, conservators and administrators. You may not assign the Agreement or any of your rights or obligations without Robinhood's prior written consent. Robinhood may assign, sell or transfer your Account and the Agreement, or any portion, at any time without your prior consent.

Supporting quotations

This Agreement shall bind your heirs, assigns, executors, successors, conservators and administrators.

You may not assign this Agreement or any rights or obligations under this Agreement without first obtaining Robinhood’s prior written consent.

Robinhood may assign, sell, or transfer your Account and this Agreement, or any portion thereof, at any time, without your prior consent.

Qualifications & exceptions

• The asymmetry: your assignment needs Robinhood's prior written consent, while Robinhood's assignment needs none.

Legal Rights & Agreement Rules · Restriction or exception

Provisions inconsistent with law or found unenforceable are modified, and the rest stays in force

If any provision becomes inconsistent with present or future law, rule or regulation of an applicable government, regulatory or self-regulatory body, or a court of competent jurisdiction finds it invalid or unenforceable, it is deemed rescinded or modified, to the extent applicable law permits, to comply or be valid and enforceable. In all other respects the Agreement continues in full force.

Supporting quotations

such provisions shall be deemed rescinded or modified, to the extent permitted by applicable law, to make this Agreement in compliance with such law, rule or regulation, or to be valid and enforceable, but in all other respects, this Agreement shall continue in full force and effect

Legal Rights & Agreement Rules · Restriction or exception

You must monitor Website postings and are bound by the most current terms in effect when you use the Platform

Robinhood may post other agreements, disclosures, policies, procedures, terms and conditions on the Website or in the Disclosure Library from time to time, including updates or amendments to the Agreement or to incorporated or referenced agreements and Risk Disclosures ("Website Postings"). You must continually monitor the Website and Disclosure Library and understand the Website Postings. You agree to be bound by the Website Postings, and the most current version of the Agreement, in effect when you access or use the Platform or give any order or instruction.

Supporting quotations

Robinhood may post other specific agreements, disclosures, policies, procedures, terms, and conditions that apply to your use of the Platform or your Account, on the Website from time to time including in the Disclosure Library

it is your continuing obligation to monitor the Website and the Disclosure Library for Website Postings and to understand the terms of the Website Postings

You agree to be bound by the Website Postings (and the most current version of this Agreement) as are in effect at the time of your access or use of the Platform or the giving of any order or instruction relating to your Account.

Qualifications & exceptions

• Bound by whatever is in effect at the time of access, use, or giving an order or instruction.

Legal Rights & Agreement Rules · Restriction or exception

The Agreement, referenced documents and statement terms are the entire agreement; consistent others survive

The Agreement, its attachments, other agreements and policies it refers to (including Website Postings and Risk Disclosures), and the terms in your Account statements and confirmations contain the entire agreement between you and Robinhood and supersede all prior or contemporaneous communications and proposals, electronic, oral or written. Any other agreements between you and Robinhood that are not inconsistent with the Agreement remain in full force.

Supporting quotations

This Agreement, any attachments hereto, other agreements and policies referred to in this Agreement (including the Website Postings and Risk Disclosures), and the terms and conditions contained in your Account statements and confirmations, contain the entire agreement between Robinhood and you

supersede all prior or contemporaneous communications and proposals, whether electronic, oral, or written

any and all other agreements between Robinhood and you, not inconsistent with this Agreement, will remain in full force and effect

Qualifications & exceptions

• Other agreements survive only to the extent they are not inconsistent with this Agreement.

Legal Rights & Agreement Rules · Permission or license

Robinhood may amend the Agreement at any time without prior notice; continued activity is acceptance

Robinhood may at any time amend the Agreement and any agreement or document incorporated or referenced in it without prior notice to you. The current version is posted in the Disclosure Library, and continued Account activity, including accessing the Platform or submitting an order or instruction, after an amendment is agreement to be bound by all amendments then in effect, whether or not you reviewed them. Continued use of the Platform or other services after posting is acknowledgment and acceptance. You must regularly consult the Website and Disclosure Library for modifications. Robinhood is not bound by verbal statements seeking to amend the Agreement. Any communication from you purporting to amend the terms or impose other terms on Robinhood takes effect only if agreed in writing and signed by one of Robinhood's authorized signatories.

Supporting quotations

Robinhood may at any time amend this Agreement and any other agreement or document incorporated or referenced in this Agreement without prior notice to you.

your continued Account activity (including accessing the Platform or submitting an order or instruction) after such amendment constitutes your agreement to be bound by all then-in-effect amendments to the Agreement, regardless of whether you have actually reviewed them

Robinhood is not bound by any verbal statements that seek to amend the Agreement.

will only take effect if agreed to in writing and signed by one of our authorized signatories

Qualifications & exceptions

• No prior notice is required; the amended text is posted in the Disclosure Library.
• Your own proposed changes need a writing signed by an authorized Robinhood signatory.

Account & Service Control · Permission or license

Robinhood may terminate or block access at any time in its sole discretion; you stay liable and the Agreement survives

Robinhood may terminate the Agreement, or close, deactivate or block access to your Account, at any time in its sole discretion. You remain liable to Robinhood for all obligations incurred in your Account, under the Agreement or otherwise, whether arising before or after termination. You may terminate the Agreement by written notice after paying any Obligations owed. The Agreement survives termination of your Account.

Supporting quotations

Robinhood may terminate this Agreement, or close, deactivate, or block access to your Account at any time in its sole discretion.

You will remain liable to Robinhood for all obligations incurred in your Account, pursuant to this Agreement, or otherwise, whether arising before or after termination.

You may terminate this Agreement after paying any Obligations owed upon written notice. This Agreement survives termination of your Account.

Qualifications & exceptions

• You may terminate only after paying Obligations owed, by written notice.

Account & Service Control · Permission or license

On termination Robinhood may liquidate Property and close the Account, and is not responsible for resulting Losses

If Robinhood terminates the Agreement or closes or deactivates your Account or related services, you authorize it to liquidate any Property in your Account and send you net proceeds after satisfying Obligations, and close your Account, in addition to its other rights. (The saved text numbers the second item "(iii)".) Robinhood is not responsible for Losses caused by discontinuing or closing the Account or services, or liquidating Property or closing the Account, including tax liabilities.

Supporting quotations

Robinhood is authorized to (i) liquidate any Property in your Account and send you any net proceeds (after satisfying any Obligations), and (iii) close your Account.

Robinhood will not be responsible for any Losses caused by Robinhood discontinuing or closing your Account or any services, or any liquidation of your Property or closure of your Account, including any tax liabilities.

Qualifications & exceptions

• Net proceeds are sent only after Obligations are satisfied.
• No-responsibility expressly includes tax liabilities.

Not stated here

• The source numbers the items "(i)" and "(iii)", with no "(ii)".

Legal Rights & Agreement Rules · Restriction or exception

Robinhood's delay or non-enforcement is not a waiver, and its remedies are cumulative

Robinhood's failure to insist on strict compliance, delay or failure to exercise a power or right, or a continued course of such conduct, is never a waiver, and a single or partial exercise does not preclude further exercise. All rights and remedies given to Robinhood are cumulative and not exclusive of others it is entitled to.

Supporting quotations

Robinhood’s failure to insist at any time upon strict compliance with any term contained in this Agreement, or any delay or failure on Robinhood’s part to exercise any power or right given to Robinhood in this Agreement, or a continued course of such conduct on Robinhood’s part, shall at no time operate as a waiver of such power or right

All rights and remedies given to Robinhood in this Agreement are cumulative and not exclusive of any other rights or remedies to which Robinhood is entitled.

Account & Service Control · Restriction or exception

Services are offered only to customers in the United States, and only U.S. currency is accepted

Products and services described on the Website are offered only to customers located in the United States. The Platform is not a solicitation or offering of any investment product or service to anyone outside the United States. Robinhood is based in the United States and accepts only U.S. currency in customer accounts.

Supporting quotations

The products and services described on the Website are offered only to customers located in the United States.

The Platform shall not be considered a solicitation for or offering of any investment product or service to any person outside the United States.

Robinhood accepts only U.S. currency in Robinhood’s customer accounts

Account & Service Control · Context

Times in the Agreement, notices and Account information are Eastern Time unless stated otherwise

Unless otherwise indicated, any time referenced in the Agreement, in Account-related information, notices or disclosures, or relating to the operation of your Account is expressed in Eastern Time (ET).

Supporting quotations

Unless otherwise indicated, any time referenced in this Agreement, in any Account-related information, notices, or disclosures, or related to the operation of your Account, is expressed in Eastern Time (ET).

Legal Rights & Agreement Rules · Restriction or exception

California law governs the Agreement and transactions, except where securities law or market rules govern

The Agreement and all transactions in your Account are governed by California law, without regard to its choice of law rules, except to the extent governed by the federal securities laws, FINRA Rules, and the regulations, customs and usage of the exchanges or markets (and their clearing houses) where transactions are executed.

Supporting quotations

This Agreement and all transactions made in your Account shall be governed by the laws of the State of California (regardless of the choice of law rules thereof)

except to the extent governed by the federal securities laws, FINRA Rules, and the regulations, customs and usage of the exchanges or market (and its clearing house) on which transactions are executed

Qualifications & exceptions

• California law applies except to the extent federal securities laws, FINRA Rules and exchange or market regulations, customs and usage govern.

Cross-references

• contrast (model-proposed): The NYSE agreement is governed by New York law, is not assignable, and is accepted by agreeing — contrast: Section 38 applies California law to the Agreement and transactions, while the NYSE Market Data Agreement in Appendix 1 applies New York law to itself. The Addendum incorporates Section 38 but the NYSE agreement is also a separate contract with its own governing law.

Legal Rights & Agreement Rules · Restriction or exception

Arbitration disclosure: you give up court and jury, awards are final, discovery is limited

The Agreement contains a pre-dispute arbitration clause. All parties give up the right to sue each other in court, including a jury trial, except as the arbitration forum's rules provide. Awards are generally final and binding, and a court's ability to reverse or modify an award is very limited. Discovery is generally more limited than in court. Arbitrators need not explain their awards unless, in an eligible case, all parties jointly request an explained decision at least 20 days before the first scheduled hearing.

Supporting quotations

This Agreement contains a pre-dispute arbitration clause.

(1) All parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

(2) Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited.

(4) The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

Qualifications & exceptions

• Exception to giving up court: "except as provided by the rules of the arbitration forum in which a claim is filed".
• An explained decision needs a joint request by all parties at least 20 days before the first hearing in an eligible case.

Legal Rights & Agreement Rules · Context

Arbitrators may be industry-affiliated, forum time limits can apply, and forum rules are incorporated

The arbitration panel will typically include a minority of arbitrators who were or are affiliated with the securities industry. The rules of some arbitration forums may impose time limits for bringing a claim, and in some cases a claim ineligible for arbitration may be brought in court. The rules of the arbitration forum where a claim is filed, and amendments to them, are incorporated into the Agreement.

Supporting quotations

(5) The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

(6) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

(7) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

Qualifications & exceptions

• Court is available only "in some cases" for a claim that is ineligible for arbitration.

Legal Rights & Agreement Rules · Restriction or exception

Any controversy about the Agreement, your Accounts or transactions is settled by FINRA Dispute Resolution arbitration

Any controversy or claim arising out of or relating to the Agreement, any other agreement between you and Robinhood, any Account established under it, or any transaction in an Account is settled by arbitration before FINRA Dispute Resolution, Inc. ("FINRA DR") under FINRA DR rules.

Supporting quotations

Any controversy or claim arising out of or relating to this Agreement, any other agreement between you and Robinhood, any Account established hereunder, any transaction therein, shall be settled by arbitration before FINRA Dispute Resolution, Inc. (“FINRA DR”) in accordance with the rules of FINRA DR.

Qualifications & exceptions

• Covers claims relating to any other agreement between you and Robinhood as well as the Agreement.

Legal Rights & Agreement Rules · Restriction or exception

Foreign nationals and non-U.S. residents waive the right to sue Robinhood in any foreign venue

If you are a foreign national, non-resident alien or do not live in the United States, you agree to waive your right to file an action against Robinhood in any foreign venue.

Supporting quotations

If you are a foreign national, non-resident alien, or if you do not reside in the United States, you agree to waive your right to file an action against Robinhood in any foreign venue.

Qualifications & exceptions

• Applies to foreign nationals, non-resident aliens and persons not residing in the United States.

Legal Rights & Agreement Rules · Restriction or exception

Class actions stay out of arbitration, and arbitration is not enforced on putative class members meanwhile

No person may bring a putative or certified class action to arbitration, or seek to enforce a pre-dispute arbitration agreement against someone who has started a putative class action in court or is a member of a putative class who has not opted out for claims in that action, until the class certification is denied, the class is decertified, or the customer is excluded from the class by the court. Holding off on enforcing arbitration this way is not a waiver of rights under the Agreement, except as stated.

Supporting quotations

No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (1) the class certification is denied; or

(2) the class is decertified; or (3) the customer is excluded from the class by the court.

Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

Qualifications & exceptions

• Enforcement of arbitration resumes after certification is denied, the class is decertified, or the customer is excluded from the class.

Legal Rights & Agreement Rules · Restriction or exception

Accepting acknowledges the arbitration clause, margin securities lending, receipt and listed disclosures

By accepting, you acknowledge you have read and understand the terms and manifest assent to them. You also acknowledge the Agreement contains a pre-dispute arbitration clause in Section 39 and agree that any of your margin account securities may be borrowed by Robinhood or loaned to others, that you have received a copy of the Agreement, that you have reviewed the Margin Disclosure Statement, and that you have been provided with and agree to the Form CRS, Terms and Conditions and the other listed disclosures, which are incorporated by reference.

Supporting quotations

ACCEPTED AND AGREED: You acknowledge that you have read the preceding terms and conditions of this Agreement, that you understand them and that you hereby manifest your assent to, and your agreement to comply with, those terms and conditions by accepting this agreement.

YOU ALSO UNDERSTAND THAT BY ACCEPTING THIS AGREEMENT YOU HAVE ACKNOWLEDGED THAT THIS AGREEMENT CONTAINS A PREDISPUTE ARBITRATION CLAUSE IN SECTION 39 HEREIN.

(1) ANY OF YOUR MARGIN ACCOUNT SECURITIES MAY BE BORROWED BY ROBINHOOD OR LOANED TO OTHERS

WHICH ARE INCORPORATED BY REFERENCE INTO THIS AGREEMENT

Qualifications & exceptions

• Listed disclosures include the Use and Risk Disclosures, Product Features, Extended Hours and ETF disclosures, Funds Availability, Business Continuity Plan Summary and FINRA Public Disclosure Program.

Charges & Financial Obligations · Context

Appendix A EFT disclosures apply to EFT transactions, with special meanings for "Bank", "you" and "we"

Appendix A, the Electronic Fund Transfer Services Disclosures Addendum, applies to EFT transactions. For these disclosures only, "the Bank" includes any financial institution that provides services for ACH, Move Money or other EFT transactions, "you" means the owner of the Account, and "we" and "us" mean Robinhood and the Bank together.

Supporting quotations

The following disclosures apply to EFT transactions.

Solely for purposes of these disclosures: (i) references to the Bank shall include any financial institution that provides services in connection with ACH, Move Money, or other EFT transactions; (ii) “you” and “your” mean the owner of the Account; and (iii) “we” and “us” means Robinhood and the Bank collectively.

Qualifications & exceptions

• The special meanings apply "solely for purposes of these disclosures".

Security & Safeguards · Restriction or exception

Report unauthorized EFTs at once; delay beyond 60 days after a statement may cost you money you could have kept

You must tell Robinhood at once if you believe an electronic fund transfer was made without your permission; telephoning is best, and you could lose all the Available Funds in your Account. If your statement shows transfers you did not make, tell Robinhood at once. If you do not tell it within 60 days after the statement was mailed or otherwise made available, you may not get back money lost after the 60 days if Robinhood can prove it could have stopped the loss had you told it in time. If a good reason, such as a long trip or hospital stay, kept you from telling it, the time periods are extended.

Supporting quotations

Tell us AT ONCE if you believe that an electronic fund transfer has been made without your permission.

You could lose all the Available Funds in your Account.

If you do not tell us within 60 days after the statement was mailed to you, or otherwise made available to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

Qualifications & exceptions

• The 60-day consequence applies only if Robinhood can prove it could have stopped the loss had you told it in time.
• Time periods are extended for a good reason such as a long trip or hospital stay.

Security & Safeguards · Procedure

Report unauthorized transfers by phone, support site, email or mail to Robinhood's Menlo Park address

If you believe a transfer was made without your permission you should call 888-275-8523, visit support.robinhood.com, email help@robinhood.com or write to Robinhood at 85 Willow Road, Menlo Park, CA 94025.

Supporting quotations

You should call 888-275-8523, visit support.robinhood.com, email us at help@robinhood.com or write to us at Robinhood at 85 Willow Road, Menlo Park, CA 94025 if you believe a transfer has been made without your permission.

Charges & Financial Obligations · Context

For the EFT disclosures, business days are Monday through Friday excluding U.S. Federal Holidays

For these disclosures, business days are Monday through Friday, excluding U.S. Federal Holidays.

Supporting quotations

For purposes of these disclosures, our business days are Monday through Friday, excluding U.S. Federal Holidays.

Charges & Financial Obligations · Permission or license

You may make ACH withdrawals and deposits, originated by Robinhood or a third party, within limits

You may make ACH withdrawals from your Account, originated through Robinhood or by a third party ("non-originated"), subject to the Available Funds in your Account, the transaction limits in the disclosures, the App and the Website, and the Agreement's other terms. You may also make ACH deposits, originated through Robinhood or non-originated, subject to the transaction limits.

Supporting quotations

You may make ACH withdrawals from your Account, either originated through us or originated by a third party (a “non-originated” withdrawal), subject to the Available Funds in your Account, the transaction limits described below and in the App and on the Website, and the other terms and conditions of this Agreement.

You also may make ACH deposits to your Account, either originated through us or originated by a third party (a “non-originated” deposit), subject to the transaction limits described below and in the App and on the Website.

Qualifications & exceptions

• Withdrawals are limited by Available Funds as well as transaction limits.

Charges & Financial Obligations · Restriction or exception

Transfer limits aggregate across affiliates, can change without notice, and transfers can be restricted

Frequency and dollar limits apply to transfers. Limits for Originated ACH, Debit Card Funding and Instant Bank Transfers are calculated by adding up such transactions in your brokerage Account and such transactions originated in any other accounts you hold with Robinhood affiliate companies. Applicable limits are in the disclosures, the App and the Website, and are described as designed to be flexible to protect security. Robinhood may change the limits at any time in its sole discretion, including for security reasons, and without advance notice unless law requires. Higher limits may be available as determined by Robinhood in its sole discretion and set forth in the App. Robinhood may restrict, limit or delay any transfer or attempted transfer for any purpose, including suspected fraud or other illicit activity and account security.

Supporting quotations

Transfer limits for Originated ACH, Debit Card Funding, and Instant Bank Transfers are calculated by aggregating the amount of such transactions in your brokerage Account as well as the amount of such transactions originated in any other accounts you may hold with Robinhood affiliate companies.

You understand and agree Robinhood may change these limits at any time in its sole discretion, including for security reasons, and without advance notice to you, except as otherwise required by law.

You understand and agree that Robinhood reserves the right to restrict, limit or delay any transfer or attempted transfer, for any purpose including, but not limited to, suspected fraud or other illicit activity and for purposes of maintaining account security.

Qualifications & exceptions

• Change without advance notice applies "except as otherwise required by law".
• Higher limits are at Robinhood's sole discretion.

Charges & Financial Obligations · Procedure

Originated ACH withdrawals and deposits count toward that day's limits only if submitted before 7 p.m. Eastern

Originated ACH Withdrawals submitted before 7 p.m. Eastern Time count toward that business day's withdrawal limits; otherwise they count toward the next business day's limits. Originated ACH Deposits submitted before 7 p.m. Eastern Time count toward that business day's deposit limits; otherwise toward the next business day's limits. Limit amounts are in the App and on the Website.

Supporting quotations

Originated ACH Withdrawals submitted before 7 p.m. Eastern Time will be counted towards that business day’s withdrawal limits set forth in the App and on the Website, otherwise, they will count towards the next business day’s limits.

Originated ACH Deposits submitted before 7 p.m. Eastern Time will be counted towards that business day’s deposit limits set forth in the App and on the Website, otherwise, they will count towards the next business day’s limits.

Qualifications & exceptions

• Limit amounts are not stated in this saved text for originated transfers.

Not stated here

• The numeric limits for originated ACH are in the App and on the Website, not in this saved text.

Charges & Financial Obligations · Restriction or exception

Non-originated ACH withdrawals and deposits have a $250,000 daily limit; weekly and monthly are N/A

Non-Originated ACH Withdrawals have a daily limit of $250,000.00, with weekly and monthly limits listed as "N/A". Non-Originated ACH Deposits likewise have a daily limit of $250,000.00, with weekly and monthly limits listed as "N/A". The text lists "N/A" without saying whether that means no limit or that the period does not apply.

Supporting quotations

Daily Limit: $250,000.00 // Weekly Limit: N/A // Monthly Limit: N/A

Daily Limit: $250,000.00 // Weekly Limit: N/A // Monthly Limit: N/A

Qualifications & exceptions

• "N/A" for the weekly and monthly limits is not explained, so it is not read as unlimited.

Not stated here

• The text does not say whether "N/A" means no weekly or monthly limit or not applicable.

Charges & Financial Obligations · Procedure

Debit Card Funding and Instant Bank Transfers count toward the day's limits if submitted by 11:59 p.m. Eastern

Debit Card Funding (DCF) transactions submitted on or before 11:59 p.m. Eastern Time count toward that day's DCF limits; otherwise toward the next day's limits. Instant Bank Transfer (IBT) withdrawals and deposits submitted on or before 11:59 p.m. Eastern Time count toward that day's limits; otherwise toward the next day's. Limit amounts are in the App and on the Website.

Supporting quotations

DCF transactions submitted on or before 11:59 p.m. Eastern Time will be counted toward that day’s DCF limits set forth in the App and on the Website, otherwise, they will count towards the next day’s limits.

IBT withdrawals and deposits submitted on or before 11:59 p.m. Eastern Time will be counted towards that day’s limits set forth in the App and on the Website, otherwise, they will count towards the next day’s limits.

Not stated here

• The numeric DCF and IBT limits are in the App and on the Website, not in this saved text.

Charges & Financial Obligations · Company practice

Robinhood charges no fee to initiate EFTs, but external transfers via DCF or IBT carry a fee

Robinhood will not charge you fees for initiating EFTs on your behalf. If you make external transfers of funds from your Account through Debit Card Funding or Instant Bank Transfers you will be charged a fee as outlined in the Fee Schedule.

Supporting quotations

We will not charge you any fees for initiating EFTs on your behalf.

If you make external transfers of funds from your Account via DCF or IBT, you will be charged a fee, as outlined in the Fee Schedule.

Qualifications & exceptions

• The two statements need to be read together: the no-fee statement is for initiating EFTs, while DCF and IBT external transfers are charged.

Not stated here

• The DCF and IBT fee amounts are in the Fee Schedule, which is not part of this saved text.

Sharing & Disclosure · Permission or license

Robinhood may disclose information about you or your transfers in listed circumstances

Robinhood may disclose information to third parties about you or the transfers you make where necessary or helpful to complete or correct transactions and resolve claims about them; to verify the existence and condition of your Account for a third party such as a credit bureau or merchant; to comply with a valid government agency request, court order or other legal or administrative reporting requirement; and if you consent by giving written permission. The list continues in the next block.

Supporting quotations

We may disclose information to third parties about you or the transfers you make:

Where it is necessary or helpful for completing or correcting transactions and resolving claims regarding transactions;

In order to verify the existence and condition of your Account for a third party, such as a credit bureau or merchant;

In order to comply with a valid request by a government agency, a court order, or other legal or administrative reporting requirements;

If you consent by giving us your written permission;

Qualifications & exceptions

• The saved list is split across blocks; this card covers the first four entries.

Not stated here

• Further listed circumstances may follow the written permission item.

Sharing & Disclosure · Permission or license

EFT information may also go to staff, auditors, affiliates and providers, for illegal activity, and as law permits

Besides completing transactions, verifying the Account to third parties, complying with legal requests and disclosing with your written permission, Robinhood and the Bank may disclose information about you or your transfers to their employees, auditors, affiliates, service providers or attorneys as needed; to prevent, investigate or report possible illegal activity; as permitted by applicable law; and otherwise as necessary to fulfill their obligations under the Agreement and the terms of the EFT service you use.

Supporting quotations

If you consent by giving us your written permission;

To our employees, auditors, affiliates, service providers, or attorneys as needed;

In order to prevent, investigate or report possible illegal activity;

As permitted by applicable law; or

Otherwise as necessary to fulfill our obligations under this Agreement and the terms applicable to the EFT service you are using.

Qualifications & exceptions

• "As permitted by applicable law" and "otherwise as necessary to fulfill our obligations" are open-ended entries on the list.

Data Access & Collection · Permission or license

The Robinhood and Bank Privacy Policies are part of the Agreement; you agree to collection and sharing under them

Robinhood's Privacy Policy (in the Disclosure Library) and the applicable Bank's privacy policy (at a web address given in the text, referred to together as the "Privacy Policies") give further details. You agree to Robinhood's and the Bank's collection, use and sharing of information about you as provided in the Privacy Policies, which are made part of the Agreement. The Privacy Policies also tell you how to limit the ways the Bank and Robinhood share information about you or request corrections to information they keep. You agree that information you provide for EFT services goes directly to both Robinhood, as holder of the associated Account, and the Bank, as the EFT service provider.

Supporting quotations

You hereby agree to Robinhood’s and the Bank’s collection, use, and sharing of information about you as provided in the Privacy Policies, which are made a part of this Agreement.

The Privacy Policies also tell you how you can (i) limit the ways in which Bank and Robinhood share information about you, or (ii) request corrections to the information that Bank or Robinhood maintain about you.

You agree that information you provide in connection with EFT services you use is being provided directly to both Robinhood as the holder of the Account associated with the service and the Bank as the provider of the EFT service.

Qualifications & exceptions

• The Privacy Policies are made a part of the Agreement.
• Limiting sharing and requesting corrections are described as covered in the Privacy Policies.

Not stated here

• The Robinhood Privacy Policy and the Bank's privacy policy are not part of this saved text, so the actual collection, use and sharing they allow is not stated here.

Account & Service Control · Company practice

Direct deposits are announced by the sender or visible online; statements come monthly or at least quarterly

If direct deposits arrive at least once every 60 days from the same person or company, that payer tells you each time it sends the money, and you can check your Account online to see whether the deposit was made. You get a monthly Account statement unless there are no transfers in a month, and in any case at least quarterly. You may obtain information about the Available Funds in your Account.

Supporting quotations

If you have arranged to have direct deposits made to your Account at least once every 60 days from the same person or company, the person or company making the deposit will tell you every time they send us the money.

You will get a monthly Account statement (unless there are no transfers in a particular month). In any case you will get the statement at least quarterly.

Qualifications & exceptions

• The monthly statement is not sent for a month with no transfers; a statement is sent at least quarterly.

Charges & Financial Obligations · User right or choice

You can stop third-party recurring payments with three Business Days' notice; no advance payments by Robinhood

You do not have the right to ask Robinhood to make regular payments out of your Account in advance, though you may ask third parties to initiate regular payments from it. If you have automatic recurring payments taken out of your Account you can stop any of them by calling 888-275-8523, emailing help@robinhood.com or writing to 85 Willow Road, Menlo Park, CA 94025, in time for Robinhood to receive your request 3 Business Days or more before the payment is scheduled. If you call, Robinhood may also require you to put the request in writing and get it to it within 14 days after the call.

Supporting quotations

You do not have the right to request that Robinhood in advance make regular payments out of your Account, although you may ask third parties to initiate regular payments out of your Account.

If you have automatic recurring payments taken out of your Account, you can stop any of these payments.

in time for us to receive your request 3 Business Days or more before the payment is scheduled to be made

If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

Qualifications & exceptions

• The request must be received 3 Business Days or more before the scheduled payment.
• A phone request may need written confirmation within 14 days after the call.

Charges & Financial Obligations · User right or choice

If recurring payments vary in amount, the payee must tell you 10 days before each payment

If regular payments vary in amount, the party you are paying is responsible for telling you, 10 days before each payment, when it will be made and how much. That party may let you choose to be told only when the payment would differ by more than a certain amount from the previous payment, or fall outside limits you set.

Supporting quotations

If these regular payments vary in amount, the party you are going to pay is responsible for telling you, 10 days before each payment, when it will be made and how much it will be.

The party you are going to pay may allow you to choose to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

Qualifications & exceptions

• The duty to give notice sits with the payee, not Robinhood.

Charges & Financial Obligations · Company commitment

Robinhood is liable for your losses if it fails to stop a payment ordered three Business Days or more ahead

If you order Robinhood to stop a payment at least three Business Days before the transfer is scheduled and it does not do so, Robinhood will be liable for your losses or damages.

Supporting quotations

If you order us to stop a payment at least three Business Days before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

Qualifications & exceptions

• Applies to stop orders given at least three Business Days before the scheduled transfer.

Charges & Financial Obligations · Company commitment

Robinhood is liable for transactions not completed on time or in the right amount, except in listed cases

If Robinhood does not complete a transaction to or from your Account on time or in the correct amount according to the Agreement, it is liable for your losses or damages, with exceptions. It is not liable, for instance, if through no fault of Robinhood or the Bank you lack enough Available Funds; if there is a hold or your funds are subject to legal or administrative process or other encumbrance; if Robinhood or the Bank have reason to believe the transaction is unauthorized; if circumstances beyond their control such as fire, flood, or computer or communication failure prevent completion despite reasonable precautions; or for any other exception in the Agreement or applicable law.

Supporting quotations

If we do not complete a transaction to or from your Account on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages.

If through no fault of Robinhood or the Bank, you do not have enough Available Funds in your Account to complete the transaction;

If there is a hold or your funds are subject to legal or administrative process or other encumbrance restricting their use;

If Robinhood or the Bank have reason to believe the requested transaction is unauthorized;

If circumstances beyond the control of Robinhood or the Bank (such as fire, flood, or computer or communication failure) prevent the completion of the transaction, despite reasonable precautions that Robinhood or the Bank have taken; or

For any other exception stated in this Agreement with you or by applicable law.

Qualifications & exceptions

• The exception list is introduced by "for instance" and ends with any other exception in the Agreement or by law.
• The beyond-control exception requires that Robinhood or the Bank took reasonable precautions.

Charges & Financial Obligations · Procedure

Report EFT errors or questions by phone, mail or email as soon as you can

For errors or questions about your electronic transfers, telephone 888-275-8523, write to 85 Willow Road, Menlo Park, CA 94025, or email help@robinhood.com as soon as you can.

Supporting quotations

In case of errors or questions about your electronic transfers, telephone us at 888-275-8523, write us at 85 Willow Road, Menlo Park, CA 94025, or email us at help@robinhood.com as soon as you can.

Legal Rights & Agreement Rules · Context

The attached Market Data Addendum carries its own printed revision date, April 10, 2026

Directly before the heading "Robinhood Market Data Addendum" the saved text prints "Revised April 10, 2026". That line appears to date the Market Data Addendum, a different date from the October 1, 2026 line that opens the Customer Agreement.

Supporting quotations

Revised April 10, 2026

Qualifications & exceptions

• The date line sits before the Addendum heading and is read here as the Addendum's revision date.

Not stated here

• The saved text does not say whether the date applies to the Addendum or to the preceding appendix, or when it takes effect.

Content & IP Rights · Restriction or exception

The Market Data Addendum supplements the Agreement, and receiving Market Data means accepting third-party provider terms

The Market Data Addendum supplements and forms part of the Customer Agreement and is the Addendum the Customer Agreement refers to and incorporates. Capitalized terms not defined in it take their Customer Agreement meaning. It may be amended or supplemented from time to time by notice, as set out in its section 4. To receive Market Data through the Platform you agree, as set out in the Addendum and without limitation, to specific terms required by certain third-party data providers.

Supporting quotations

This agreement (the “Market Data Addendum” or the “Addendum”) supplements and forms part of the Robinhood Financial LLC & Robinhood Securities, LLC Customer Agreement

This Market Data Addendum may be amended or supplemented from time to time by notice, as set out in section 4 below.

TO RECEIVE MARKET DATA THROUGH THE PLATFORM, YOU AGREE TO THE SPECIFIC TERMS REQUIRED BY CERTAIN THIRD- PARTY DATA PROVIDERS IN THIS ADDENDUM

THIS MARKET DATA ADDENDUM AND ITS TERMS AND ANY AND ALL AGREEMENTS CONSTITUTED BY IT MAY BE SUPPLEMENTED OR AMENDED FROM TIME TO TIME BY ROBINHOOD BY NOTICE TO YOU, AND SUCH NOTICE REQUIREMENT MAY BE SATISFIED BY THE REVISED MARKET DATA ADDENDUM BEING POSTED ON THE ROBINHOOD WEBSITE

Qualifications & exceptions

• Addendum amendments follow its own section 4.

Content & IP Rights · Restriction or exception

Market Data is "as is", not advice, unwarranted by Robinhood or providers, and used at your own risk

Robinhood and its affiliates receive Market Data from industry sources and Third Party Providers. It is provided "as is" and "as available" and is not advice or a recommendation for you or your Account. Robinhood does not endorse, approve or give any view on Market Data. Neither Robinhood nor any Third Party Provider warrants or guarantees its accuracy, timeliness, completeness or correctness, or any results or interpretations from using or relying on it. Your use of Market Data is at your own risk, and past performance is no guarantee of future results.

Supporting quotations

Market Data is provided or made available to you on an "as is" and on an "as available" basis and should not be considered as any form of advice or recommendation for you or your Account.

Neither Robinhood nor any Third Party Provider (i) warrants or guarantees the accuracy, timeliness, completeness or correctness of any Market Data

Your use of any Market Data is at your own risk.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood Parties and Third Party Providers are not liable for Market Data errors, delays or losses from using it

Neither the Robinhood Parties nor any Third Party Provider is liable for inaccuracy, error, delay, interruption or omission in Market Data, information or messages or their transmission, or for Losses or damage from Market Data or those problems, whether caused by an act or omission of Robinhood or a Third Party Provider or otherwise. Robinhood and the providers are not responsible for, and you agree not to hold them liable for, Losses, lost profits, trading losses or other damages from your use of Market Data or from inaccurate, defective or unavailable Market Data. These limits are in addition to, and without prejudice to, other limitations of liability in the Customer Agreement or in other agreements you have with any other Robinhood entity or any Third Party Provider.

Supporting quotations

NEITHER THE ROBINHOOD PARTIES NOR ANY THIRD PARTY PROVIDER SHALL BE LIABLE IN ANY WAY FOR (A) ANY INACCURACY, ERROR OR DELAY IN, INTERRUPTION OR OMISSION OF, ANY MARKET DATA, INFORMATION OR MESSAGE, OR THE TRANSMISSION OR DELIVERY THEREOF

WHETHER DUE TO ANY ACT OR OMISSION BY ROBINHOOD OR A THIRD PARTY PROVIDER, OR OTHERWISE

YOU AGREE NOT TO HOLD ANY OF THEM LIABLE FOR, ANY LOSSES, LOST PROFITS, TRADING LOSSES OR OTHER DAMAGES RESULTING FROM OR IN CONNECTION WITH YOUR USE OF ANY MARKET DATA

CUSTOMER AGREEMENT OR OTHER AGREEMENTS YOU MAY HAVE FROM TIME TO TIME WITH ANY OTHER ROBINHOOD ENTITY OR WITH ANY THIRD PARTY PROVIDER.

Qualifications & exceptions

• The limit applies whether the cause is an act or omission by Robinhood, a provider or otherwise.
• Cumulative with other limitations of liability in the Customer Agreement and other agreements.

Content & IP Rights · Permission or license

Robinhood may remove, restrict or terminate Market Data, or change providers, at any time

Robinhood may remove, restrict or terminate access to or provision of any Market Data at any time, or change any relevant Third Party Provider or any Market Data, and so the precise data or the way it is provided, at any time.

Supporting quotations

We may remove, restrict or terminate access to or provision of any Market Data at any time, or change any relevant Third Party Provider or any Market Data (and thereby the precise Market Data provided or made available, or the manner in which any Market Data is provided or made available) at any time.

Content & IP Rights · Restriction or exception

Market Data is for your own personal, non-business use and cannot be provided, retransmitted or published

You may use Market Data provided through the Platform only for your own personal, non-business use, subject to the Customer Agreement and this Addendum, and you represent that you will. You must not use it for any purpose not directly related to the Platform or your Account, and must not provide, retransmit, redistribute or publish any Market Data to any other person or entity.

Supporting quotations

You may only use (and represent to us that you will only use) Market Data provided to you in connection with the Platform for your own personal, non-business use

You must not use Market Data for any purpose not directly related to the Platform or your Account, and you must not provide, retransmit, redistribute or publish any Market Data to any other person or entity.

Account & Service Control · Restriction or exception

You continually warrant Non-professional status unless you tell Robinhood otherwise, and must contact it if unsure

Unless and until you expressly notify Robinhood in writing otherwise, you represent and warrant on a continuing basis that you qualify as a "Non-professional". If you think you are or might be a Securities Professional, or might not qualify as a Non-professional, you must contact Robinhood immediately at support@robinhood.com. If you told Robinhood in writing that you are a Securities Professional, you represent and warrant that you are one until you notify it in writing otherwise.

Supporting quotations

Unless and until you have expressly notified us in writing to the contrary, you represent and warrant to us on a continuing basis that you qualify as a “Non-professional”.

If you think you are or might be a “Securities Professional” or if you think that you do not or might not qualify as a “Non-professional”, you must contact us immediately at support@robinhood.com.

If you have told us in writing that you are a “Securities Professional” then you represent and warrant to us that you are a Securities Professional, until you notify us in writing to the contrary.

Qualifications & exceptions

• The warranty is continuing and changes only by your written notice.

Content & IP Rights · Context

"Non-professional" and "Securities Professional" are defined, including registered persons, advisers and bank staff

"Non-professional" means a natural person who receives market data solely for personal, non-business use and who is not a "Securities Professional". A Securities Professional includes an individual who, working in the United States, is registered or qualified in any capacity with the SEC, the Commodity Futures Trading Commission, a state securities agency, a securities exchange or association, a commodities or futures contract market or association, or a self-regulatory body; engaged as an investment adviser as defined in Section 202(a)(11) of the Investment Advisers Act of 1940, whether or not registered; or employed by a bank or other organization exempt from securities registration to perform functions that would require registration if performed for a non-exempt organization. A person working outside the United States is a Securities Professional if they perform the same functions. Using Market Data for business, professional or other commercial purposes is not compatible with Non-Professional status, even on behalf of an organization outside the securities industry.

Supporting quotations

“Non-professional” means any natural person who receives market data solely for their own personal, non-business use and who is not a “Securities Professional.”

A “Securities Professional” for these purposes includes an individual who, if working in the United States, is:

(a) registered or qualified in any capacity with the Securities and Exchange Commission

(b) engaged as an "investment advisor" as that term is defined in Section 202 (a)(11) of the Investment Advisor's Act of 1940 (whether or not registered or qualified under that Act), or

(c) employed by a bank or other organization exempt from registration under Federal and/or state securities laws

A person who works outside of the United States will be considered a “Securities Professional” if they perform the same function(s) as a person who would be considered a “Securities Professional” in the United States.

Any use of Market Data for business, professional or other commercial purpose is not compatible with Non-Professional status, even if the commercial use is on behalf of an organization that is not in the securities industry.

Qualifications & exceptions

• The definition covers non-U.S. workers who perform the same functions.
• Any business, professional or commercial use is incompatible with Non-Professional status.

Not stated here

• Section 202(a)(11) of the Investment Advisers Act is an external law whose text is not supplied.

Legal Rights & Agreement Rules · Restriction or exception

You must keep assessing your status, tell Robinhood of changes, and indemnify it if your representation was wrong

You undertake to continually assess whether you are a Non-Professional or a Securities Professional and to promptly notify Robinhood if your classification changes while you have an Account. You acknowledge Robinhood provided the Account and Market Data in reliance on your representations and warranties about your status. You indemnify Robinhood for fees, costs, losses, liabilities or expenses it incurs or suffers, directly or indirectly, in connection with any such representation or warranty being incorrect or inaccurate in any respect when given or repeated.

Supporting quotations

You undertake to continually assess your status as to whether you are a Non-Professional or whether you are a Securities Professional, and undertake to promptly notify us if your classification as a “Non-professional” or a “Securities Professional” changes at any time whilst you have an Account.

You acknowledge that we have provided you with an Account and with Market Data in reliance on your representations and warranties to us as to your status.

You indemnify Robinhood for any fees, costs, losses, liabilities or expenses that Robinhood may incur or suffer, directly or indirectly, in connection with any such representation or warranty being incorrect or inaccurate in any respect when given or repeated.

Qualifications & exceptions

• The indemnity applies to any inaccuracy "in any respect" when the representation was given or repeated.

Content & IP Rights · Restriction or exception

NYSE Market Data requires the NYSE Market Data Agreement, which you are deemed to sign by accepting the Agreement

Robinhood may provide NYSE Market Data: last sale and quotation information on NYSE-admitted securities, bond and other equity last sale and quotation and index and market information that U.S.-registered national securities exchanges and associations make available and the NYSE designates as "Market Data", and all information derived from it. To receive any NYSE Market Data you enter into the "Agreement for Market Data Display Services" in the form at Appendix 1 with Robinhood Financial. That agreement is deemed executed by your agreeing to the Customer Agreement and the Addendum, is incorporated into the Customer Agreement through the Addendum, and is also a separate, legal, valid and binding contract between you (as Subscriber) and Robinhood Financial, LLC (as Vendor).

Supporting quotations

(such data or information from time to time being “NYSE Market Data”)

To receive or have made available to you any NYSE Market Data, you enter into the “Agreement for Market Data Display Services” in the form attached at Appendix 1 to this Market Data Addendum (the “NYSE Market Data Agreement”) with Robinhood Financial.

The NYSE Market Data Agreement will be deemed to have been executed and entered into by you by your agreement to the Customer Agreement and this Market Data Addendum

constitutes a separate agreement between you and Robinhood Financial

Qualifications & exceptions

• Deemed execution arises from agreeing to the Customer Agreement and the Addendum.
• The NYSE Market Data Agreement is both incorporated and a separate contract.

Content & IP Rights · Restriction or exception

Nasdaq Market Data comes with a Nasdaq Market Data Agreement of paragraphs 1-13 that binds you to Robinhood Financial

Robinhood Financial may provide Market Data that consists of or includes Information owned or provided by NASDAQ. You agree to the terms in paragraphs 1-13 (the "Nasdaq Market Data Agreement"), which is a legally binding agreement between you and Robinhood Financial. Defined terms are in paragraph 12.

Supporting quotations

Robinhood Financial may provide or may make available to you through the Platform certain Market Data that consists of or includes Information owned or provided by NASDAQ

You agree to the terms set out in paragraphs 1-13 below (the “Nasdaq Market Data Agreement”), which constitute a legally binding agreement between you and Robinhood Financial.

Content & IP Rights · Restriction or exception

Nasdaq Information is for personal use only, not to be sold or shared, and must be protected from unauthorized access

You may access, view or use Nasdaq Information only for your personal, non-business use. You agree not to sell, lease, furnish or give access to the Information to any other Person or place, not to use it or let anyone use it for any illegal purpose or in violation of NASDAQ or SEC rules or other law, not to present it in an unfair, misleading or discriminatory format, and to take reasonable security precautions to prevent unauthorized Persons from gaining access.

Supporting quotations

You are only permitted to access, view, or use any Information for your personal, non-business, use.

You agree not to sell, lease, furnish or otherwise permit or provide access to the Information to any other Person or to any other office or place.

You agree not to present the Information rendered in any unfair, misleading or discriminatory format. You agree to take reasonable security precautions to prevent unauthorized Persons from gaining access to the Information.

Content & IP Rights · Restriction or exception

NASDAQ and its providers own the Information, and may obtain injunctions for misuse

You acknowledge that NASDAQ has proprietary rights to Information originating on or derived from NASDAQ-regulated or -operated markets and compilation or other rights in Information from other sources, and that NASDAQ's third-party information providers have exclusive proprietary rights to their Information. If you misappropriate or misuse any Information, NASDAQ or its providers may obtain injunctive relief for their materials.

Supporting quotations

NASDAQ has proprietary rights to the Information that originates on or derives from markets regulated or operated by NASDAQ

In the event of any misappropriation or misuse by you of any Information, NASDAQ or its third-party information providers shall have the right to obtain injunctive relief for its respective materials.

Content & IP Rights · Restriction or exception

NASDAQ may change its system or Information at any time, which may affect your access, without responsibility

NASDAQ may in its sole discretion modify its system or the Information. This may require changes to Robinhood's service or to how Information is provided or presented to you and may affect your access to or use of some or all of it. NASDAQ and Robinhood are not responsible for these effects. The "System" paragraph repeats that NASDAQ may modify its system or the Information, which may require changes in how Information is displayed, and NASDAQ is not responsible for those effects.

Supporting quotations

NASDAQ may from time to time, in its sole discretion, make modifications to its system or the Information.

NASDAQ and Robinhood shall not be responsible for such effects.

NASDAQ, in its sole discretion, may from time-to-time make modifications to its system or the Information. Such modifications may require corresponding changes to be made in the way Information may be displayed or provided to you. NASDAQ shall not be responsible for such effects.

Qualifications & exceptions

• Robinhood is named as not responsible in the Modifications paragraph; the System paragraph names only NASDAQ.

Data Access & Collection · Restriction or exception

On request you must cooperate with Robinhood Financial and NASDAQ audits of your compliance with Nasdaq data terms

If Robinhood Financial or NASDAQ asks, you must reasonably cooperate, including promptly giving information or materials in response to reasonable requests and making available for examination all records, reports, payments and supporting documents about the Information that are needed to reach a conclusion about your compliance with these terms.

Supporting quotations

If requested by Robinhood Financial or NASDAQ, you undertake to provide reasonable cooperation including: (i) promptly providing information or materials in response to any reasonable request; and (ii) making available for examination all records, reports, payments, and supporting documentation, in each case relating to the Information, necessary to reach a conclusion as to your compliance with these terms.

Qualifications & exceptions

• Applies when requested by Robinhood Financial or NASDAQ.

Legal Rights & Agreement Rules · Restriction or exception

NASDAQ does not endorse Robinhood, and its liability for indirect loss or Information problems is limited

NASDAQ does not endorse or approve any equipment, Robinhood or Robinhood's service, and Robinhood makes no representations or warranties about NASDAQ or the Information. Except as otherwise stated, NASDAQ is not liable to you or anyone for indirect, special, punitive, consequential or incidental loss or damage of any nature, including trading losses and lost profits, from any cause, even if advised of the possibility. NASDAQ is not liable for any unavailability, interruption, delay, incompleteness or inaccuracy of the Information. This does not relieve NASDAQ, you or any other Person from liability for their own gross negligence or willful tortious misconduct or from personal injury or wrongful death claims, and you agree these terms reasonably allocate risk.

Supporting quotations

NASDAQ does not endorse or approve any equipment, Robinhood, or Robinhood’s service. Robinhood makes no representations or warranties in connection with NASDAQ or Information.

Limitations of Liability.

Except as may otherwise be set forth herein, NASDAQ shall not be liable to you or any other Person for indirect, special, punitive, consequential or incidental loss or damage

NASDAQ shall not be liable to you or any other Person for any unavailability, interruption, delay, incompleteness or inaccuracy of the Information.

This section shall not relieve NASDAQ, you, or any other Person from liability for damages that result from their own gross negligence or willful tortious misconduct or from personal injury or wrongful death claims.

Qualifications & exceptions

• Gross negligence, willful tortious misconduct, personal injury and wrongful death claims are carved out.
• The first limit applies "except as may otherwise be set forth herein".

Content & IP Rights · Restriction or exception

NASDAQ and its information providers give no warranties on the Information

NASDAQ and its third-party information providers make no warranties of any kind, express, implied or statutory, including as to timeliness, truthfulness, sequence, completeness, accuracy or freedom from interruption, any implied warranties from trade usage, course of dealing or performance, or implied warranties of merchantability, fitness for a particular use or purpose, or noninfringement.

Supporting quotations

NASDAQ and its third-party information providers make no warranties of any kind — express, implied or statutory (including without limitation, timeliness, truthfulness, sequence, completeness, accuracy, freedom from interruption)

Legal Rights & Agreement Rules · Restriction or exception

NASDAQ's third-party information providers are not liable for Information errors; liability capped at the fee paid

NASDAQ's third-party information providers have no liability for damages relating to the accuracy of, or delays or omissions in, the Information they provide, whether direct or indirect, lost profits, or special or consequential damages, even if advised of the possibility, whether to you or anyone seeking relief through you. In no event does the liability of those providers or their affiliates to you or anyone seeking relief through you, under any cause of action in contract, tort or otherwise, exceed the fee you or that other person paid.

Supporting quotations

NASDAQ’s third-party information providers shall have no liability for any damages for the accuracy of or for delays or omissions in any of the Information provided by them

In no event will the liability of the third-party information providers or their affiliates to you or any other Person seeking relief through you pursuant to any cause of action, whether in contract, tort or otherwise, exceed the fee paid by you or any other Person seeking relief through you, as applicable.

Qualifications & exceptions

• The cap is the fee paid by you or the person seeking relief through you, as applicable.

Legal Rights & Agreement Rules · Restriction or exception

You indemnify NASDAQ and its people for claims from your noncompliance, third-party actions and IP violations

You will indemnify and hold harmless NASDAQ and its employees, officers, directors and other agents from all Claims or Losses imposed on, incurred by or asserted as a result of or relating to: your noncompliance with these terms; any third-party actions related to your receipt and use of the Information, whether authorized or unauthorized; and a claim of infringement or other violation of an intellectual property right by you or your actions or omissions, equipment or other property.

Supporting quotations

You will indemnify NASDAQ and hold NASDAQ and its employees, officers, directors and other agents harmless from any and all Claims or Losses imposed on, incurred by or asserted as a result of or relating to

(b) any third-party actions related to your receipt and use of the Information, whether authorized or unauthorized

Qualifications & exceptions

• Third-party actions are covered whether your use was authorized or unauthorized.

Content & IP Rights · Permission or license

NASDAQ can limit or end data access for statutory reasons, or terminate on breach on three days' notice

NASDAQ, when required to fulfill statutory obligations, may by notice to the Distributor unilaterally limit or terminate the right of any or all Persons to receive or use the Information, and the Distributor will immediately comply and confirm to NASDAQ. Affected Persons have the procedural protections provided by the Act and applicable rules. If you breach, if any of your representations proves untrue, or where the SEC directs in its regulatory authority, NASDAQ may terminate the Nasdaq Market Data Agreement on not less than three days' written notice to you, given by NASDAQ or Robinhood.

Supporting quotations

NASDAQ, when required to do so in fulfillment of statutory obligations, may by notice to Distributor unilaterally limit or terminate the right of any or all Persons to receive or use the Information

Any affected Person will have available to it such procedural protections as are provided by the Act and applicable rules thereunder.

In the event of your breach, discovery of the untruth of any of your representations, or where directed by the SEC in its regulatory authority, NASDAQ may terminate this Nasdaq Market Data Agreement with not less than three (3) days written notice to you provided either by NASDAQ or Robinhood.

Qualifications & exceptions

• Termination on breach, untrue representations or SEC direction needs at least three days' written notice.
• Affected Persons keep the procedural protections provided by the Act and rules.

Not stated here

• "Distributor" is used without a definition in the saved text; it presumably refers to Robinhood Financial but the text does not say so.

Content & IP Rights · Context

Nasdaq terms define "Information" broadly, including derived data that could substitute for it

In the Nasdaq Market Data Agreement, "Act" means the Securities Exchange Act of 1934, for Information disseminated from a NASDAQ Market in the United States. "Information" means market data and other data collected, validated, processed and recorded by the System or other sources and made available for transmission to and from a Vendor or NASDAQ about eligible securities and instruments, markets, products and indicators, NASDAQ's activities, and other NASDAQ information. It also includes any element of Information used or processed so that it can be identified, recalculated or re-engineered from the processed Information, or so that the processed Information can substitute for it. "NASDAQ" means NASDAQ, Inc. and its subsidiaries and Affiliates; "NASDAQ Markets" are its regulated exchange and market subsidiaries including The NASDAQ Stock Market; "Person" is any natural person or entity; "SEC" is the U.S. Securities and Exchange Commission; and "System" is any system NASDAQ developed to create or disseminate Information.

Supporting quotations

Definitions. The following terms have the following meanings:

“Act” shall mean the Securities Exchange Act of 1934, applicable only to Information disseminated from a NASDAQ Market in the United States.

Information also includes any element of Information as used or processed in such a way that the Information can be identified, recalculated or re- engineered from the processed Information or that the processed Information can be used as a substitute for Information.

“NASDAQ” means collectively NASDAQ, Inc., a Delaware limited liability company and its subsidiaries and Affiliates.

“NASDAQ Markets” shall mean the regulated securities and options exchange subsidiaries of NASDAQ and other regulated market subsidiaries of NASDAQ, including, but not limited to, The NASDAQ Stock Market.

“Person” means any natural person, proprietorship, corporation, partnership or other entity whatsoever.

“SEC” means the U.S. Securities and Exchange Commission.

“System” means any system NASDAQ has developed for the creation and/or dissemination of Information.

Qualifications & exceptions

• Processed or derived data counts as Information if it can be identified, recalculated or re-engineered, or can substitute for it.

Legal Rights & Agreement Rules · Permission or license

The Nasdaq Market Data Agreement may be amended as set out in section 4 of the Market Data Addendum

The Nasdaq Market Data Agreement may be amended or modified as set out in section 4 of the Market Data Addendum, which allows Robinhood to supplement or amend the Addendum and any agreements it constitutes by notice that posting the revised Addendum on the Website can satisfy, with continued account or Platform access or Market Data use deemed acceptance.

Supporting quotations

This Nasdaq Market Data Agreement may be amended or modified as set out in section 4 of this Market Data Addendum.

BY CONTINUING TO MAINTAIN ANY ACCOUNT OR ACCESS THE PLATFORM OR ANY MARKET DATA, YOU ARE DEEMED TO ACCEPT THE TERMS OF THE REVISED MARKET DATA ADDENDUM AND WILL BE LEGALLY BOUND BY ITS TERMS.

Qualifications & exceptions

• Amendment follows Addendum section 4; continued use is deemed acceptance.

Content & IP Rights · Restriction or exception

To receive OTC Markets data you are deemed to enter the OTC Markets Subscriber Agreement, incorporated by reference

Robinhood may provide Market Data from OTC Market Group, Inc. and its affiliates ("OTC Markets Market Data"). As a condition of receiving it you are deemed to enter into an agreement with Robinhood Financial in the form of the OTC Markets Subscriber Agreement, as amended from time to time. That agreement, the Subscriber Addendum attached as Appendix A to the OTC Markets Group Market Data Distribution Agreement (also described as the "Market Data Distribution Agreement Subscriber Addendum"), is incorporated by reference into the Addendum. Robinhood Financial is the "Vendor" and you are the "Subscriber". The current version is available on the OTC Markets Group website or from Robinhood Financial on request.

Supporting quotations

As a condition of receiving any OTC Markets Market Data, you are deemed to enter into an agreement with Robinhood Financial in the form of the OTC Markets Subscriber Agreement, as defined below, as amended from time to time.

is incorporated by reference into this Market Data Addendum. For the purposes of the OTC Markets Subscriber Agreement Robinhood Financial is the “Vendor”, and you are the “Subscriber”.

The current version of the OTC Markets Subscriber Agreement is available on the OTC Markets Group website

Qualifications & exceptions

• The agreement applies "as amended from time to time".

Not stated here

• The OTC Markets Subscriber Agreement is not part of this saved text.

Content & IP Rights · Restriction or exception

You acknowledge the OTC Markets agreement; OTC Markets is a third-party beneficiary and may amend it

By opening an Account or accessing the Platform you expressly acknowledge that you have read and understood the OTC Markets Subscriber Agreement, and that OTC Markets Group and its affiliates are third-party beneficiaries of your agreement with Robinhood in that form. The OTC Markets Subscriber Agreement, and so the agreement between you and Robinhood Financial that the Addendum creates in that form, may be amended by OTC Markets Group from time to time.

Supporting quotations

By opening an Account or accessing the Platform you expressly acknowledge that (i) you have read and understood the OTC Markets Subscriber Agreement, and (ii) that OTC Markets Group and its affiliates are a third party beneficiary of the agreement between you and Robinhood in the form of the OTC Markets Subscriber Agreement.

may be amended by OTC Markets Group from time to time

Qualifications & exceptions

• OTC Markets Group may amend the underlying agreement from time to time, and the amendment carries through to your agreement with Robinhood Financial.

Content & IP Rights · Restriction or exception

FactSet Market Data is for your own non-commercial use only, copyrighted, and unwarranted

FactSet Market Data, from FactSet Research Systems, Inc. or its affiliates, is given to you only under a limited right to use it for your own non-commercial use. It is FactSet's copyrighted work and must not be reproduced, republished, retransmitted or redistributed in any form. Neither Robinhood nor FactSet warrants the accuracy of FactSet Market Data or results from using it, and FactSet gives no express or implied warranties, including merchantability or fitness for a particular purpose. FactSet is not liable for lost profits or other incidental or consequential damages in connection with your use of it.

Supporting quotations

you will receive only a limited right to use that FactSet Market Data for your own non- commercial

use. FactSet Market Data is copyrighted works of FactSet and must not be reproduced, republished, retransmitted, or redistributed in any form.

Neither Robinhood nor FactSet makes any warranty, express or implied, as to the accuracy of the FactSet Market Data or results obtained from any use of the FactSet Market Data.

FactSet will not be liable for any lost profits or other incidental or consequential damages in connection with Your use of the FactSet Market Data.

Content & IP Rights · Restriction or exception

Morningstar Market Data is proprietary, cannot be copied, is unwarranted and creates no advisory relationship

Morningstar Market Data, provided directly or indirectly by Morningstar, Inc. or its affiliates, is proprietary to Morningstar Research Services LLC, Morningstar, Inc. and/or their content providers, may not be copied or distributed, and is not warranted to be accurate, complete or timely. Morningstar and its content providers are not responsible for damages or losses from any use of the information and give no express or implied warranties, including merchantability or fitness for a particular purpose. Access to or use of Morningstar Market Data does not establish an advisory or fiduciary relationship with those parties. Past performance is no guarantee of future results.

Supporting quotations

The Morningstar Market Data: (1) is proprietary to Morningstar Research Services LLC, Morningstar, Inc. and/or their content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely.

Neither Morningstar Research Services, Morningstar nor their content providers are responsible for any damages or losses arising from any use of this information.

Access to or use of any Morningstar Market Data does not establish an advisory or fiduciary relationship with Morningstar Research Services, Morningstar, Inc. or their content providers.

Content & IP Rights · Restriction or exception

For IEX Market Data you agree to be bound by the IEX Controlled Data Recipient Agreement and not to alter it

Robinhood may provide Market Data from Investors Exchange LLC ("IEX"). You acknowledge you have read and agree to be bound by the IEX Controlled Data Recipient Agreement; that you are not an agent of Investors' Exchange LLC and not authorized to add to, delete from or modify any of its terms; and that you agree no provision has been added to or deleted from it and no modifications have been made.

Supporting quotations

(1) you have read and agree to be bound by the IEX Controlled Data Recipient Agreement

(2) you agree that you are (i) not an agent of Investors’ Exchange LLC; (ii) not authorized to add to or delete any terms or provisions from the IEX Controlled Data Recipient Agreement; and (iii) not authorized to modify any provision of the IEX Controlled Data Recipient Agreement

(3) you agree that no provision has been added to or deleted from the IEX Controlled Data Recipient Agreement and that no modifications have been made to it

Not stated here

• The IEX Controlled Data Recipient Agreement is not part of this saved text.

Content & IP Rights · Restriction or exception

To receive ICE corporate actions data you enter the ICE Market Data Addendum (Appendix 2)

Robinhood may provide Market Data on historical corporate actions from ICE Data Services, Inc. To receive any ICE Market Data you enter into the "ICE Market Data Addendum" in the form at Appendix 2 to the Market Data Addendum with Robinhood Financial.

Supporting quotations

certain Market Data related to historical corporate actions that is provided directly or indirectly by ICE Data Services, Inc. (“ICE”)

To receive or have made available to you any ICE Market Data, you enter into the “ICE Market Data Addendum” in the form attached at Appendix 2 to this Market Data Addendum with Robinhood Financial.

Qualifications & exceptions

• Applies to ICE Market Data related to historical corporate actions.

Legal Rights & Agreement Rules · Permission or license

Robinhood can amend the Market Data Addendum by posting it, and continued account or data use is acceptance

Robinhood may supplement or amend the Market Data Addendum, its terms and any agreements it constitutes from time to time by notice, which posting the revised Addendum on the Website can satisfy. By continuing to maintain any Account or access the Platform or any Market Data, you are deemed to accept the revised Addendum and are legally bound.

Supporting quotations

THIS MARKET DATA ADDENDUM AND ITS TERMS AND ANY AND ALL AGREEMENTS CONSTITUTED BY IT MAY BE SUPPLEMENTED OR AMENDED FROM TIME TO TIME BY ROBINHOOD BY NOTICE TO YOU, AND SUCH NOTICE REQUIREMENT MAY BE SATISFIED BY THE REVISED MARKET DATA ADDENDUM BEING POSTED ON THE ROBINHOOD WEBSITE.

BY CONTINUING TO MAINTAIN ANY ACCOUNT OR ACCESS THE PLATFORM OR ANY MARKET DATA, YOU ARE DEEMED TO ACCEPT THE TERMS OF THE REVISED MARKET DATA ADDENDUM AND WILL BE LEGALLY BOUND BY ITS TERMS.

Qualifications & exceptions

• Notice may be satisfied by Website posting alone.

Legal Rights & Agreement Rules · Restriction or exception

California governing law and FINRA arbitration from the Customer Agreement apply to the Market Data Addendum

Section 38 (Governing Law) and Section 39 (Arbitration) of the Customer Agreement apply to and are incorporated into the Addendum as if set out in full. Section 38 applies California law, except where federal securities laws, FINRA Rules and exchange or market regulations govern, and Section 39 requires arbitration before FINRA Dispute Resolution of controversies about the Agreement, other Robinhood agreements, Accounts and transactions.

Supporting quotations

Section 38 (Governing Law) and Section 39 (Arbitration) of the Customer Agreement apply to and are incorporated into this Addendum as if set out in full.

This Agreement and all transactions made in your Account shall be governed by the laws of the State of California (regardless of the choice of law rules thereof)

shall be settled by arbitration before FINRA Dispute Resolution, Inc. (“FINRA DR”) in accordance with the rules of FINRA DR

Qualifications & exceptions

• Incorporated "as if set out in full".

Content & IP Rights · Context

The NYSE data display agreement is between you (Subscriber) and Robinhood Financial, formed by accepting

Appendix 1 is titled "Agreement for Market Data Display Services (Usage-Based Services/Nonprofessional Subscriber Status) (Electronic Version)". Robinhood Financial agrees to make certain Market Data available to you under its terms. By agreeing to the Customer Agreement and the Market Data Addendum you agree to comply with it. "Subscriber" or "you" means the Customer under the Customer Agreement, and "this agreement" means the agreement between you and Robinhood Financial that these terms constitute.

Supporting quotations

AGREEMENT FOR MARKET DATA DISPLAY SERVICES (Usage-Based Services/Nonprofessional Subscriber Status) (Electronic Version)

By agreeing to the Customer Agreement and the Market Data Addendum you agree to comply with the terms and conditions of this agreement.

References to “Subscriber” or “you” in this agreement means the Customer under the Customer Agreement

Content & IP Rights · Context

In the NYSE agreement "Market Data" means NYSE and designated data, and SROs hold proprietary interests

For the NYSE Market Data Agreement, "Market Data" means last sale and quotation information on NYSE-admitted securities, bond and other equity last sale and quotation information and index and market information that U.S.-registered national securities exchanges and associations (each an "Authorizing SRO") make available and the NYSE designates as "Market Data", and all information derived from it. You, as Subscriber, acknowledge that each Authorizing SRO and Other Data Disseminator has a proprietary interest in Market Data that originates on or derives from its markets.

Supporting quotations

Market Data Definition – For all purposes of this agreement, "Market Data" means (a) last sale information and quotation information relating to securities that are admitted to dealings on the New York Stock Exchange ("NYSE")

and (c) all information that derives from any such information

Subscriber understands and acknowledges that each Authorizing SRO and Other Data Disseminator has a proprietary interest in the Market Data that originates on or derives from it or its market(s).

Qualifications & exceptions

• This definition applies "for all purposes of this agreement", the NYSE Market Data Agreement.

Legal Rights & Agreement Rules · Restriction or exception

Authorizing SROs are third-party beneficiaries who can enforce the NYSE agreement, and you pay their attorney's fees

The Authorizing SROs are third-party beneficiaries of the NYSE Market Data Agreement, and they or their authorized representatives may enforce it, through legal proceedings or otherwise, against you or anyone who obtains Market Data made available under it other than as the agreement contemplates. You, as Subscriber, must pay the reasonable attorney's fees an Authorizing SRO incurs enforcing the agreement against you.

Supporting quotations

(a) the Authorizing SROs are third-party beneficiaries under this Agreement and (b) the Authorizing SROs or their authorized representative(s) may enforce this Agreement, by legal proceedings or otherwise, against Subscriber or any person that obtains Market Data that is made available pursuant to this Agreement other than as this Agreement contemplates

Subscriber shall pay the reasonable attorney's fees that any Authorizing SRO incurs in enforcing this Agreement against Subscriber.

Qualifications & exceptions

• Fee-shifting covers reasonable attorney's fees incurred enforcing the agreement against the Subscriber.

Legal Rights & Agreement Rules · Restriction or exception

Disseminating Parties do not guarantee NYSE data, and you may not hold them liable even for negligence or force majeure

No Authorizing SRO, Other Data Disseminator or information processor assisting them (the "Disseminating Parties") guarantees the timeliness, sequence, accuracy or completeness of Market Data or other market information or messages. Neither you nor anyone else may hold a Disseminating Party liable for any inaccuracy, error, delay or omission in the data or its transmission or delivery, or for any loss or damage from inaccuracy, error, delay, omission, non-performance or interruption, whether due to a Disseminating Party's negligent act or omission, to force majeure (examples include flood, extraordinary weather, earthquake, fire, war, labor dispute, government action, communications or power failure, equipment or software malfunction), or to any other cause beyond its reasonable control.

Supporting quotations

no Authorizing SRO, no other entity whose information is made available over the Authorizing SROs' facilities (an "Other Data Disseminator") and no information processor that assists any Authorizing SRO or Other Data Disseminator in making Market Data available (collectively, the "Disseminating Parties") guarantees the timeliness, sequence, accuracy or completeness of Market Data

Neither Subscriber nor any other person shall hold any Disseminating Party liable in any way for (a) any inaccuracy, error or delay in, or omission of,

due either to any negligent act or omission by any Disseminating Party, to any "force majeure"

Qualifications & exceptions

• The no-liability covers negligent acts or omissions by a Disseminating Party as well as force majeure and other causes beyond reasonable control.

Content & IP Rights · Restriction or exception

You may not furnish NYSE Market Data to others; non-Nonprofessional users may use it only in their business

You, as Subscriber, must not furnish Market Data to any other person or entity. If you receive Market Data other than as a Nonprofessional Subscriber, you may use it only for your individual use in your business.

Supporting quotations

Subscriber shall not furnish Market Data to any other person or entity.

If Subscriber receives Market Data other than as a Nonprofessional Subscriber, it shall use Market Data only for its individual use in its business.

Content & IP Rights · Restriction or exception

Authorizing SROs may stop or change Market Data dissemination at any time without liability

At any time the Authorizing SROs may discontinue disseminating any category of Market Data, change or eliminate any transmission method, and change transmission speeds or other signal characteristics. They are not liable for any resulting liability, loss or damages.

Supporting quotations

at any time, the Authorizing SROs may discontinue disseminating any category of Market Data, may change or eliminate any transmission method and may change transmission speeds or other signal characteristics

The Authorizing SROs shall not be liable for any resulting liability, loss or damages that may arise therefrom.

Content & IP Rights · Restriction or exception

The NYSE agreement lasts while you can receive data, Robinhood Financial may end it at any time, and key terms survive

The NYSE Market Data Agreement remains in effect for as long as you have the ability to receive Market Data under it. Robinhood Financial may terminate it at any time, whether at the direction of the Authorizing SROs or otherwise. Paragraphs 2, 3 and 4, and the first two sentences of Paragraph 8, survive any termination.

Supporting quotations

This Agreement remains in effect for so long as Subscriber has the ability to receive Market Data as contemplated by this Agreement.

Robinhood Financial may terminate this Agreement at any time, whether at the direction of the Authorizing SROs or otherwise.

Paragraphs 2, 3 and 4, and the first two sentences of Paragraph 8, survive any termination of this Agreement.

Qualifications & exceptions

• Termination by Robinhood Financial may be at the Authorizing SROs' direction or otherwise.

Legal Rights & Agreement Rules · Restriction or exception

The NYSE agreement is governed by New York law, is not assignable, and is accepted by agreeing

The NYSE Market Data Agreement is governed by New York law, is subject to the Securities Exchange Act of 1934, its rules and the joint-industry plans, and contains the entire agreement of the parties on its subject. You may not assign it. The person executing it warrants legal capacity to contract and, if signing for a business or organization, actual authority to bind it. By agreeing, you acknowledge you read and understand the terms and manifest assent by agreeing.

Supporting quotations

The laws of the State of New York shall govern this Agreement and it shall be interpreted in accordance with those laws.

This Agreement is subject to the Securities Exchange Act of 1934, the rules promulgated under that act, and the joint-industry plans entered into pursuant to that act.

Subscriber may not assign all or any part of this Agreement to any other person.

By agreeing to this agreement, you acknowledge that you have read the preceding terms and conditions of this agreement, that you understand them and that you manifest your assent to, and your agreement to comply with, those terms and conditions by agreeing to this agreement.

Qualifications & exceptions

• New York law governs the NYSE Market Data Agreement, which differs from the California law in Section 38 of the Customer Agreement.

Content & IP Rights · Context

NYSE agreement: "Nonprofessional Subscriber" excludes registered persons and investment advisers

"Nonprofessional Subscriber" means a natural person who receives market data solely for personal, non-business use and who is not a "Securities Professional". A Securities Professional includes an individual who, working in the United States, is registered or qualified with the SEC, the Commodities Futures Trading Commission, a state securities agency, a securities exchange or association, or a commodities or futures contract market or association; or is engaged as an investment adviser as defined in Section 202(a)(11) of the Investment Advisers Act of 1940, whether or not registered; or, per the next block, is employed by a bank or other exempt organization to perform functions that would require registration.

Supporting quotations

"Nonprofessional Subscriber" means any natural person who receives market data solely for his/her personal, non- business use and who is not a “Securities Professional.”

(a) registered or qualified with the Securities and Exchange Commission

(b) engaged as an "investment advisor" as that term is defined in Section 202 (a) (11) of the Investment Advisor's Act of 1940 (whether or not registered or qualified under that Act), or

(c) employed by a bank or other organization exempt from registration under Federal and/or state securities laws

Qualifications & exceptions

• The list continues in the next block (c).

Not stated here

• Section 202(a)(11) of the Investment Advisers Act is an external law whose text is not supplied.

Content & IP Rights · Context

NYSE agreement: bank-employed registrable work and equivalent non-U.S. functions make you a Securities Professional

Under the NYSE Market Data Agreement, a Securities Professional also includes an individual employed by a bank or other organization exempt from securities registration to perform functions that would require him or her to be registered or qualified if performed for a non-exempt organization. A person who works outside the United States is a Securities Professional if he or she performs the same functions as someone who would be one in the United States.

Supporting quotations

(c) employed by a bank or other organization exempt from registration under Federal and/or state securities laws to perform functions that would require him or her to be so registered or qualified if he or she were to perform such functions for an organization not so exempt.

A person who works outside of the United States will be considered a “Securities Professional” if he or she performs the same functions as someone who would be considered a “Securities Professional” in the United States.

Qualifications & exceptions

• Applies to individuals working in the United States (item c) and, by extension, to those outside the United States performing the same functions.

Content & IP Rights · Restriction or exception

Nonprofessional receipt needs a Robinhood Financial determination and actual qualification, for personal use

You may not receive Market Data as a "Nonprofessional Subscriber" unless you fall within the definition in Paragraph 9. Neither you nor Robinhood Financial may receive or provide Market Data on a Nonprofessional Subscriber basis unless Robinhood Financial first properly determines that you qualify and you in fact do. If you are a Nonprofessional Subscriber you receive Market Data solely for your personal, non-business use.

Supporting quotations

Subscriber may not receive Market Data as a “Nonprofessional Subscriber” unless they fall within Paragraph 9’s definition of “Nonprofessional Subscriber.”

unless Robinhood Financial first properly determines that Subscriber qualifies as a “Nonprofessional Subscriber” as defined in Paragraph 9 and Subscriber in fact qualifies as a “Nonprofessional Subscriber.”

If Subscriber is a Nonprofessional Subscriber, he or she shall receive Market Data solely for his or her personal, non-business use.

Qualifications & exceptions

• Both a proper determination by Robinhood Financial and actual qualification are required.

Data Access & Collection · Restriction or exception

You warrant that the name, address, employer and occupation you gave Robinhood Financial remain true and complete

In connection with your Account and the Customer Agreement you have given Robinhood Financial your name, address, employer, and occupation and job description, and you represent and warrant that this information continues to be true, complete and accurate in all respects.

Supporting quotations

About you - in connection with your Account and the Customer Agreement you have provided to Robinhood Financial the following information, and you represent and warrant that such information continues to be true, complete and accurate in all respects:

Your name

Your address

Your employer

Your occupation and job description

Qualifications & exceptions

• The warranty is continuing and covers accuracy "in all respects".

Not stated here

• The saved text lists the categories only; the actual values are not part of the agreement.

Account & Service Control · Restriction or exception

You confirm you are not a Securities Professional: no business use, no registration, no similar functions

You have confirmed to Robinhood Financial that you are not a Securities Professional, and you confirm and warrant that: you use Market Data solely for personal, non-business use; you do not receive it for your business or any other entity; you are not currently registered or qualified with the SEC or CFTC; you are not currently registered or qualified with any securities agency, exchange, association or regulatory body, or commodities or futures market, association or regulatory body, in the United States or elsewhere; and whether in or outside the United States, you perform no functions similar to those requiring such registration.

Supporting quotations

In connection with your Account and the Customer Agreement you have confirmed to Robinhood Financial that you are not a Securities Professional, and in particular you confirm and warrant as follows:

You use Market Data solely for your personal, non-business use

You do not receive Market Data for your business or any other entity

You are not currently registered or qualified with the SEC or the CFTC

You are not currently registered or qualified with any securities agency, any securities exchange, association or regulatory body, or any commodities or futures contract market, association or regulatory body, in the United States or elsewhere

Whether you are located within or outside the United States, you do not perform any functions that are similar to those that require an individual to register or qualify with the SEC

Qualifications & exceptions

• Registration statements cover the United States "or elsewhere", and the similar-functions statement applies whether you are located inside or outside the United States.

Account & Service Control · Restriction or exception

You confirm you are not an adviser or asset manager and do not trade with others' capital or for entities

You also confirm and warrant that you are not engaged to give investment advice to anyone; are not an asset manager; do not use any other person's or entity's capital in your trading; do not trade for the benefit of a corporation, partnership or other entity; have not agreed to share trading profit or receive compensation for trading; and are not receiving office space, equipment or other benefits in exchange for your trading or work as a financial consultant.

Supporting quotations

You are not engaged to provide investment advice to any individual or entity

You are not engaged as an asset manager

You do not use the capital of any other individual or entity in the conduct of your trading

You do not conduct trading for the benefit of a corporation, partnership, or other entity

You have not entered into any agreement to share the profit of your trading or receive compensation for your trading activities

You are not receiving office space, and equipment or other benefits in exchange for your trading or work as a financial consultant to any person, firm, or business entity.

Account & Service Control · Restriction or exception

You must promptly notify Robinhood Financial in writing if you may stop qualifying or any statement becomes untrue

You will promptly notify and update Robinhood Financial in writing of any change in your circumstances that may cause you to stop qualifying as a Nonprofessional Subscriber or that may change your responses to the listed statements or make any of them untrue.

Supporting quotations

You will notify and update Robinhood Financial promptly in writing of any change in your circumstances that may cause you to cease to qualify as a Nonprofessional Subscriber or that may change your responses to any of the following statements or may cause any of them to be untrue in respect of you.

Qualifications & exceptions

• Notice must be prompt and in writing.

Account & Service Control · Restriction or exception

By agreeing you certify you are a Nonprofessional Subscriber and your personal information is accurate

By executing the agreement you certify that you fall within Paragraph 9's definition of "Nonprofessional Subscriber" and that the personal and employment information you gave Robinhood Financial for your Account, and confirmed in Paragraph 12, is truthful and accurate.

Supporting quotations

By executing this agreement, Subscriber hereby certifies that he or she falls within Paragraph 9's definition of "Nonprofessional Subscriber" and that the personal and employment information that he or she has provided to Robinhood Financial in connection with their Account and confirmed in Paragraph 12 is truthful and accurate.

Content & IP Rights · Permission or license

Appendix 2: Robinhood is authorized to redistribute ICE Data Services data to its clients

Robinhood has an agreement with ICE Data Services, Inc. or its affiliate under which it is authorized to incorporate data it receives from ICE Data Services ("Data") and redistribute the Data to "Licensee's clients". The saved text uses the placeholder term "Licensee" without defining it.

Supporting quotations

Robinhood has entered into an agreement with ICE Data Services, Inc. or its affiliate (“ICE Data Services”) under which Robinhood is authorized to incorporate data it receives from ICE Data Services (“Data”) and redistribute the Data to Licensee’s clients.

Not stated here

• "Licensee" and "[CLIENT OF LICENSEE]" are template terms in the saved text and are not defined there.

Content & IP Rights · Restriction or exception

ICE Data Services and its suppliers give no warranties and are not liable for errors, omissions or delays

ICE Data Services, its affiliates and their third-party suppliers make no express or implied warranties about merchantability, fitness for a particular purpose or use, title or any other matter about the Services, including the data, information, software, applications or products in them, results from using them, or their performance. They do not guarantee the adequacy, accuracy, timeliness or completeness of the Services and have no liability to the client of the Licensee or any third party for errors, omissions, interruptions, malfunctions or delays.

Supporting quotations

ICE DATA SERVICES, ITS AFFILIATES AND THEIR RESPECTIVE THIRD-PARTY SUPPLIERS MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR USE, TITLE, OR ANY OTHER MATTER AS TO THE SERVICES

NONE OF ICE DATA SERVICES, ITS AFFILIATES OR THEIR THIRD- PARTY SUPPLIERS GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE SERVICES OR ANY COMPONENT THEREOF, AND SHALL HAVE NO LIABILITY TO [CLIENT OF LICENSEE] OR ANY THIRD PARTY FOR ANY ERRORS, OMISSIONS, INTERRUPTIONS, MALFUNCTIONS OR DELAYS IN THE SERVICES.

Not stated here

• The text uses the placeholder "[CLIENT OF LICENSEE]" without defining whom it covers.

Content & IP Rights · Restriction or exception

ICE data: professional clients use their own judgment; retail clients are told Robinhood, not ICE, chose to offer it

If you are a Securities Professional customer, you acknowledge the Services are intended for institutional investors, registered broker-dealers, professionals and others of similar sophistication, that you are capable of and accept responsibility for your own independent judgment in selecting Data, how to use it and any results, and nothing waives rights under applicable securities law. If you are a retail client, you understand that Robinhood, not ICE Data Services, decided to make the Services available to you, and ICE Data Services expressly disclaims any representations or warranties about the appropriateness or suitability of any Services for you.

Supporting quotations

For Professional Clients: If you are a “Securities Professional” customer, you acknowledge that the Services are intended for use by institutional investors, registered broker-dealers, professionals and others of similar sophistication and experience.

Nothing contained herein shall be deemed to be a waiver of any rights existing under applicable securities law.

For Retail Clients: You understands that Robinhood, and not ICE Data Services, has determined to make the Services available to you.

ICE Data Services makes no, and expressly disclaims any, representations or warranties as to the appropriateness or suitability of any Services for you.

Qualifications & exceptions

• Nothing in the professional-client acknowledgment waives rights existing under applicable securities law.

Content & IP Rights · Restriction or exception

Receiving ICE Services creates no relationship with ICE Data Services, and it gives no investment advice

You acknowledge that receiving Services from the Licensee does not create a client, fiduciary or other relationship between ICE Data Services and you or anyone else. ICE Data Services is not undertaking to give investment advice to you or anyone else, and the Services do not purport to meet anyone's objectives or needs.

Supporting quotations

the receipt of Services from Licensee does not create a client, fiduciary, or other relationship between ICE Data Services and you or any other person

ICE Data Services is not undertaking to provide investment advice to you or any other person

Legal Rights & Agreement Rules · Restriction or exception

You indemnify ICE Data Services, its affiliates and suppliers against third-party claims over the Services

You must indemnify and hold harmless ICE Data Services, its affiliates and their third-party suppliers (the "ICE Indemnitees") against all losses, damages, liability and costs, including attorney's fees, resulting directly or indirectly from any third-party claim or demand against them arising out of or related to any Services you receive or any data, information, service, report, analysis or publication derived from them. The ICE Indemnitees are not liable for any third-party claim or demand against you.

Supporting quotations

You shall indemnify ICE Data Services, its affiliates, and their third-party suppliers (collectively, the “ICE Indemnitees”) against and hold the ICE Indemnitees harmless from any and all losses, damages, liability, costs, including attorney's fees, resulting directly or indirectly from any claim or demand against the ICE Indemnitees by a third party arising out of or related to any Services received by you

The ICE Indemnitees shall not be liable for any claim or demand against you by a third party.

Qualifications & exceptions

• Covers derived data, information, reports, analyses and publications as well as the Services themselves.

Content & IP Rights · Restriction or exception

You may not publicize your access to ICE data, and ICE and its suppliers are third-party beneficiaries

You must not publicize the fact that you have access to Data from ICE Data Services. ICE Data Services, its affiliates and their third-party suppliers are third-party beneficiaries of these terms.

Supporting quotations

You shall not publicize the fact that you have access to Data from ICE Data Services.

ICE Data Services, its affiliates, and their third-party suppliers shall constitute third-party beneficiaries hereunder.

Content & IP Rights · Restriction or exception

ICE Data is for internal use within Approved Products only, and seven uses are excluded without written authorization

Unless otherwise agreed in writing, you may use the Data solely for your internal use and benefit within the Approved Product(s). Use expressly excludes, without limitation and unless ICE Data Services gives prior written authorization: creating or helping create any index; fund valuation, including fund accounting and net asset value or indicative NAV calculations; building a security master or cross-reference database; further dissemination in any form to any third party; use for a joint venture to which you are a party; use in place of data you receive from ICE Data Services or another provider under other agreements; and building data, products or services that may compete with those of ICE Data Services or its affiliates.

Supporting quotations

Unless otherwise agreed to in writing, the Data may be used by you solely for its internal use and benefit within the Approved Product(s).

Use of the Data expressly excludes, without limitation, the following, unless express prior authorization is provided, in writing, by ICE Data Services:

Use to create or assist in the creation of any index

Use for fund valuation purposes, including but not limited to, fund accounting, net asset value and indicative net asset value calculations

Use in the construction of a security master or cross-reference database

Further dissemination in any form to any other third party

Use of the Data for a joint venture to which you are a party

Use in replacement of any data received by you directly or indirectly from ICE Data Services under any other agreements you may have with ICE Data Services, or another third party service provider or distributor

Use of in the construction of data, products or services that may compete with data, products or services available from ICE Data Services and/or its affiliates.

Qualifications & exceptions

• The excluded uses are listed "without limitation", and each can be authorized by ICE Data Services in writing in advance.

Not stated here

• "Approved Product(s)" is used without a definition in the saved text.

Data Access & Collection · Restriction or exception

Professional clients must keep ICE usage records and allow ICE audits, at most once in any 12 months

If you are a Securities Professional customer you must keep complete and accurate books, records and documentation about your use of ICE Data Services' Data. ICE Data Services and/or its Third Party Suppliers, directly or through an independent auditor, may on reasonable notice audit and examine your books, records and applicable computer equipment, devices, components, transmission equipment and software used to install, maintain, access, deliver, transmit, receive, retrieve or use the Data, and observe your operations relating to its use. ICE Data Services will exercise this right no more than once in any twelve-month period, under reasonable security or confidentiality provisions at your request.

Supporting quotations

For Professional Clients: If you are a “Securities Professional” customer, you agree to keep complete and accurate books, records and related documentation concerning the use of the ICE Data Services’ Data.

(i) audit and examine, upon reasonable notice, your books, records and applicable computer equipment, devices, components, transmission equipment and software used by you

This right will be exercised by ICE Data Services not more than once during any twelve (12) month period pursuant to any reasonable security or confidentiality provisions at your request.

Qualifications & exceptions

• Applies to Securities Professional customers.
• Audit is on reasonable notice and at most once in any twelve-month period.