Robinhood Margin Account Rules

This document establishes the terms governing Robinhood's brokerage, options trading, cryptocurrency, and cash management services for US users. The agreement authorizes the fully paid securities lending program, whereby Robinhood may lend securities held in customer accounts to third parties, and establishes that uninvested cash deposits are routed to program banks. The terms require all disputes to be resolved through individual binding arbitration and establish procedures for sharing customer account information and transaction data with affiliated companies and service providers.

This document governs the terms of service for Robinhood's suite of financial products and services, including brokerage, cryptocurrency trading, cash management, and related features, establishing a contractual relationship between users and Robinhood Markets, Inc. and its subsidiaries, on the basis that continued use of the platform constitutes acceptance of the terms. The agreement states that users grant Robinhood broad authority to act as their agent in executing trades, lending their securities under the fully paid lending program, and using their uninvested cash; the terms authorize Robinhood to share user data with affiliates, service providers, and third-party partners, and reserve the right to modify, suspend, or terminate accounts or services with or without notice. The agreement includes mandatory arbitration and class action waiver provisions, a limitation of liability clause capping Robinhood's exposure, and broad indemnification obligations imposed on users; it also asserts the right to use customer content and activity data for product improvement purposes, provisions that the agreement asserts but that applicable law including FINRA rules, SEC regulations, and state consumer protection statutes may constrain in practice. The document engages multiple regulatory frameworks including SEC and FINRA oversight of brokerage activities, CFPB jurisdiction over financial products and consumer complaints, FinCEN requirements for anti-money laundering compliance, and CCPA rights for California residents. Compliance teams should note that the arbitration and class action waiver provisions, the securities lending authorization, and the data sharing authorizations each carry distinct regulatory and operational considerations depending on user jurisdiction and account type.

The agreement permits Robinhood to lend fully paid securities from customer accounts to third parties as a program function. Uninvested cash is directed to partner banks rather than retained by Robinhood. All account disputes are subject to individual binding arbitration rather than court or class action proceedings. Customer account data and transaction information are authorized for sharing with Robinhood affiliates and third-party service providers. The agreement provides an opt-out mechanism for the arbitration requirement, typically available within 30 days of account creation.