This clause requires you to resolve any disputes with Robinhood through FINRA arbitration rather than through the court system, and you cannot join a class action lawsuit against Robinhood.
This analysis describes what Robinhood's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The provision requires individual arbitration for all disputes, waiving the right to a jury trial and class action participation, which limits the legal options available to customers regardless of the nature or amount of a dispute.
Customers who open a Robinhood brokerage account are required to pursue any dispute through FINRA arbitration on an individual basis; the agreement states that class, consolidated, or representative actions are not permitted under this clause.
How other platforms handle this
Neither you nor we may elect arbitration of any claims seeking only individualized relief asserted by you or us in small claims court, so long as the action remains in that court and is not removed or appealed de novo...
in the event that there are 100 or more individual Requests of a similar nature filed against Chegg by or with the assistance of the same law firm...within a 30 day period...the AAA (1) will administer the arbitration demands in batches of 100 Requests per batch...
except disputes relating to the enforcement or validity of your, your licensors', our, or our licensors' intellectual property rights
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"You agree that all controversies that may arise between us concerning any subject matter, issue or circumstance whatsoever (including, but not limited to, controversies concerning any account, order or transaction, or the continuation, performance, interpretation or breach of this or any other agreement between us, whether entered into or arising before, on or after the date this account is opened) shall be determined by arbitration. Any arbitration under this agreement shall be conducted only on an individual basis and not in a class, consolidated or representative action.— Excerpt from Robinhood's Robinhood Customer Agreement (PDF)
REGULATORY LANDSCAPE: This provision implicates FINRA Rule 12200 governing customer arbitration, the Federal Arbitration Act, and state law that may affect the enforceability of class action waivers. The CFPB and FTC have each addressed mandatory arbitration and class action waivers in consumer financial contexts; enforceability of the class action waiver may be subject to challenge depending on jurisdiction and applicable state law. GOVERNANCE EXPOSURE: High. Mandatory pre-dispute arbitration clauses with class action waivers in retail brokerage agreements are subject to ongoing regulatory scrutiny. The provision's breadth, covering all controversies concerning any subject matter, is broad and may face enforceability challenges in specific jurisdictions. JURISDICTION FLAGS: California has historically scrutinized class action waivers in consumer contracts; the agreement's California governing law designation creates heightened exposure. Federal courts apply the Federal Arbitration Act, which generally supports arbitration agreements, but state public policy exceptions may apply in certain circumstances. CONTRACT AND VENDOR IMPLICATIONS: The thirty-day opt-out window requires that the company operationally deliver notice of this right to customers at or before account opening. Failure to adequately communicate the opt-out mechanism could affect the enforceability of the waiver. COMPLIANCE CONSIDERATIONS: Compliance teams should verify that the opt-out mechanism is operationally implemented, documented, and communicated to customers within the contractual window. The arbitration clause should be reviewed against current FINRA arbitration rules and any applicable state law developments affecting enforceability.
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Coinbase's User Agreement includes a mandatory arbitration clause that most users may not have reviewed. Here is what the clause states and how the opt-out process works.
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The provision requires individual arbitration for all disputes, waiving the right to a jury trial and class action participation, which limits the legal options available to customers regardless of the nature or amount of a dispute.
Customers who open a Robinhood brokerage account are required to pursue any dispute through FINRA arbitration on an individual basis; the agreement states that class, consolidated, or representative actions are not permitted under this clause.
ConductAtlas has identified this type of provision across 200 platforms. See the full comparison.
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