Before you can buy your first Stock Token, you need to sign up and be approved to trade. This includes:

• Providing necessary information, such as your tax identification number (TIN). If you have more than one TIN, you may be asked to add them all.
• Answering questions about your investor profile to help assess your financial situation and investment goals.
• Completing a knowledge check questionnaire to ensure you understand stock tokens and the risks.
• Reviewing and agreeing to required agreements, including terms of use.

You can find available stock tokens in Explore (magnifying glass). You can use the search bar to look up stock tokens by ticker symbol or name.

Once you have found the stock token you want to buy, tap on it to go to the Stock Token Detail Page (STDP).

1. On the STDP, select Buy.
2. We currently support buy orders using either quantity amounts or EUR values, including whole tokens and fractionals.
3. Review the estimated price and FX details. All Stock Tokens are displayed in USD, and you will buy them in EUR. FX conversion happens automatically when you trade, with no added spreads from Robinhood, just a 0.10% FX fee.
4. Once you confirm, your buy order is placed.

Once you have found the Stock Token you want to sell, tap on it to go to the Stock Token Detail Page (STDP).

1. On the STDP, select Sell.
2. We currently support sell orders using either quantity amounts or EUR values, including whole tokens and fractionals.
3. Review the order details on the confirmation screen and confirm. Once you confirm, your sell order is placed.

After entering your order details, review the information carefully on the confirmation screen. If the market is closed, the order confirmation screen will indicate that your order is queued for the next market open.

When your sell order executes, the proceeds from the sale are immediately available in your account, but there are important details about how you can use them:

• Funds are available for trading immediately. This means you can use the cash in euros (€) from your sale to buy other Stock Tokens or supported assets right away.
• Withdrawal hold until the next business day (T+1). While you can trade with the funds instantly, you won't be able to withdraw the EUR proceeds to your bank account until the next business day after the sale settles.
  • This withdrawal hold applies specifically to the EUR proceeds from the sale of a stock token.
  • The withdrawal hold is automatically released on the next business day.
  • If you make multiple sales across different days, the proceeds from each individual sale will become available for withdrawal on the next business day following that specific sale.

You can check the status of your funds in Transfer money → Available to withdraw and review what funds are currently available for withdrawal versus what balance is pending settlement.

• Trading hours: You can trade Stock Tokens from Monday at 2 AM CET/CEST to Saturday at 2 AM CET/CEST. You can also queue buy or sell orders outside of these hours and they will be placed when the market reopens. The order confirmation screen will confirm if your order is successfully queued.
• Corporate actions: Corporate actions on the underlying stock (like splits or mergers) will affect your Stock Tokens. Trading may be paused during corporate action processing. Banners and/or notifications in the app will inform you about corporate actions and trading halts. Review Corporate actions for Stock Tokens for more details.
• Market data: Charts and fundamentals are displayed in USD.

FX fees: We convert your euros using the current exchange rate, plus a small 0.10% FX fee.

Estimated total cost: This includes:

• The converted token price in EUR
• The 0.1% FX fee
• A small buffer to account for volatility

To help protect against dramatic price fluctuations while your order is being processed, buy orders may execute at or lower than:

• 0.5% higher than the last traded stock price, and
• 0.5% higher than the current EUR/USD exchange rate

Likewise, sell orders may execute at or higher than:

• 0.5% lower than the last traded stock price, and
• 0.5% lower than the current EUR/USD exchange rate

You can also review the Fee schedule for more information.

Stock Tokens are derivative contracts between you and Robinhood, which involve investment risk. Stock Tokens’ value depends on the value of the underlying stock or ETF, and may fluctuate based on market conditions. The change in the value of the underlying stocks or ETFs may be significant and therefore you could incur losses - up to the full amount of your invested capital.

Since Stock Tokens are derivatives, they do not grant any rights to the underlying shares or ETFs. Derivatives are complex financial instruments which involve a high level of risk and are therefore not appropriate for all investors. In addition to market volatility risk, when trading Stock Tokens, investors may incur losses - up to the full amount of invested capital - due to liquidity issues (i.e., difficulty in closing a position), currency exposure, and service provider insolvency risk. Stock Tokens are not covered by deposit or investor liabilities insurance schemes. Please see more information in the Description of the Services, Financial Instruments, and Risks and the Key Information Document.