Being locked out of a brokerage account during volatile markets can cause significant financial harm — if you cannot access your account to sell a declining position, you could lose thousands of dollars, and Robinhood's agreement says they bear no responsibility for that.
This agreement materially affects consumers by granting Robinhood broad authority to liquidate account holdings without prior notice in margin situations, requiring binding arbitration for all disputes while waiving the right to participate in class action lawsuits, and disclosing that Robinhood receives payment for order flow which may create conflicts with best execution obligations. Consumers who open margin accounts should understand that all securities in the account serve as collateral and can be sold at Robinhood's discretion. You can opt out of the arbitration clause by sending written notice to Robinhood within 30 days of opening your account.
How other platforms handle this
If a developer removes your connection from their app to your data, Plaid's systems are designed to automatically delete your personal data, subject to certain exceptions where we may still retain your information.
We may suspend or terminate your access to the Services (including any Subscriptions) at any time without notice to you if we believe that you have breached these Terms, or if we must do so in order to comply with law.
In accordance with these Terms, Docusign may suspend any use of the Docusign Services, remove any content or disable or terminate any Account or Authorized User that Docusign reasonably and in good faith believes violates these Terms. Docusign will use commercially reasonable efforts to notify you p...
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Watch RobinhoodBeing locked out of a brokerage account during volatile markets can cause significant financial harm — if you cannot access your account to sell a declining position, you could lose thousands of dollars, and Robinhood's agreement says they bear no responsibility for that.
ConductAtlas has identified this type of provision across 2 platforms. See the full comparison.
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