We think investing is better with friends. Invite friends to Robinhood and earn stock rewards as you reach referral milestones. For your friend’s sign up to count toward your next milestone, they’ll need to open a Robinhood investing account and fund it with a successful deposit greater than $0.

You’ll earn a bonus stock reward each time you reach a qualifying referral milestone. You can earn up to $15,000 in bonus stock rewards per year.

When you reach a milestone, you’ll receive the full reward amount to use toward whole or fractional shares from up to 26 available companies. The available companies are selected based on market cap within their respective sectors. You won’t earn rewards for individual referrals between milestones. You must have an active Robinhood individual brokerage account in good standing to claim a milestone reward.

To confirm your eligibility, invite friends, claim a reward, or track your referral progress:

App

1. Select Account (person icon) → Menu (3 bars)
2. Select Rewards to invite friends or claim an available milestone reward
3. Select the clock icon (top right) to view your referral progress toward the next milestone

Web

1. After logging in select Rewards
2. Copy referral link or scan QR code to invite friends

Securities affiliates and customers with certain account or tax-related restrictions aren’t eligible for the referral program. If you’re eligible, you’ll see the referral offer in Rewards.

You can sell your stock reward 3 trading days after it’s granted. If you sell it, you can use the proceeds to invest in other stocks on Robinhood. To withdraw the proceeds, you must keep the cash value of the stock reward in your account for at least 60 days after claiming it.

Your friend may receive a separate sign up stock reward when they open an eligible Robinhood account and link a bank account or debit card. This reward is separate from your referral reward, which requires your friend to fund their account before the referral counts toward your next milestone.

Consult a tax advisor about how stock rewards may affect your taxes. The value when claimed may be reported on an applicable Form 1099, and any gain or loss when sold as a capital gain or loss. Find the original value of your rewards in Statements & History.

Robinhood Financial LLC (“Robinhood”) fractional stock reward offer is subject to these Terms & Conditions.

Eligibility: This Offer is only valid for existing qualifying brokerage clients of Robinhood with an active individual taxable brokerage account who successfully refer an Eligible New Customer (“Referrer”). An “Eligible New Customer” is a new customer of Robinhood who has never previously had a Robinhood individual taxable brokerage account, applies for and is approved for a Robinhood individual taxable brokerage account, links their bank or debit card to their Robinhood individual taxable brokerage account, funds their Robinhood individual taxable brokerage account, and is a Robinhood customer in good standing. Simply linking a bank account or debit card, without funding the account, does not make a new customer an Eligible New Customer. A deposit is treated as funding the account only once it has settled; a deposit that is reversed or otherwise fails to settle, including due to an ACH transfer failure, does not satisfy this requirement, and the associated referral will not count as a Qualifying Referral unless and until the deposit settles. Referrers will become eligible when they share their Robinhood-provided referral code with a personal friend who is an Eligible New Customer. Referrers may choose to share their referral code with their contacts by accessing the Robinhood app, and may send a message to their contacts that contains this referral code. Anyone who doesn’t meet the conditions in this paragraph isn’t eligible for this Offer. Robinhood may decline requests to enroll in the offer without notice and at its sole discretion.

Offer: Referrers earn a one-time bonus each time they reach a cumulative referral milestone. A “Qualifying Referral” is an Eligible New Customer who has been approved for, and has funded, a Robinhood individual taxable brokerage account. Each Qualifying Referral counts toward a Referrer’s cumulative referral total under this Offer. No bonus is earned for referral counts between the milestones listed above; this structure applies to all referrers. Milestone bonuses are not prorated: if a Referrer does not reach a milestone, no bonus is paid with respect to that milestone, regardless of how many Qualifying Referrals the Referrer has accumulated toward it. Each milestone bonus is paid, in full, as a single dollar amount that the Referrer must use entirely on purchases of whole or fractional shares of stocks that Robinhood makes available through this program, selected from the same 26 stocks available under the New User Sign-Up Bonus offer. Those 26 stocks are selected by choosing the 2 largest S&P 500 companies within the top 13 sectors based on market cap, per August 29, 2025 data shown by TradingView, an unaffiliated entity. Occasionally, Robinhood’s inventory of settled shares may not include any given stock among this group for various reasons, including if Robinhood is out of inventory for any given stock or fractional stock. Neither receipt of a share or a fractional share of stock through this program nor identification of a particular security in communications related to this program constitutes a solicitation of the security, investment advice or recommendation of any security, transaction, account type, investment strategy involving securities, or order.

For the pricing of fractional shares, Robinhood will endeavor to price fractional shares at the last trade price. While Robinhood endeavors to price fractional shares as of the time that the milestone bonus is claimed, there may be a small lag time, such as a minute, between when the milestone bonus is claimed and the fractional shares are priced.

Limitations: Milestone bonuses will be credited only if the Referrer's cumulative Qualifying Referral count reaches the applicable milestone and the milestone bonus is claimed within 60 days through the Robinhood platform; bonuses not claimed within 60 days will expire. A milestone bonus is only credited to a Referrer's individual brokerage account, and a Referrer will not be able to claim a milestone bonus unless they have an active Robinhood individual brokerage account in good standing. Limit one referral credit per qualified Eligible New Customer, with a maximum of one individual investing account per referred client. The milestone bonuses received under this Offer, when combined with all other milestone bonuses received under this Offer in the current calendar year, may not exceed $15,000 per person, per year, representing the sum of all milestone tiers listed above; once a Referrer reaches this amount, no further milestone bonuses will be paid until the limit resets at the start of the next calendar year. Milestone bonuses will be credited to the enrolled individual investing account within approximately one week after the milestone bonus is claimed, though this timeline may be delayed at Robinhood's discretion, including where Robinhood is reviewing a possible violation of these Terms (see "Disqualification for Fraud or Abuse" below). Shares or fractional shares from milestone bonuses cannot be sold until 3 trading days after the milestone bonus is granted, and the cash value of a milestone bonus may not be withdrawn for 60 days after it is claimed. Robinhood cannot provide information about someone else's account or application status.

Program Integrity and Disqualification: Robinhood reserves the right, in its sole discretion and to the extent permitted by law, to withhold, decline to grant, rescind, or liquidate a milestone bonus (or any related stock or proceeds), and to disqualify a participant or void a referral, if Robinhood determines that a participant:

• engaged in fraud, abuse, or manipulation of the referral program, including submitting fraudulent or fabricated referrals;
• created, used, or facilitated multiple, duplicate, or fake accounts, email addresses, or identities to obtain more referral rewards than permitted under these terms;
• used any automated system, script, or bot to generate or submit referrals;
• used images or speech in connection with a referral link that are inaccurate, misleading, offensive, violate community standards, infringe Robinhood's intellectual property rights, or otherwise create confusion as to whether the content is Robinhood's;
• did not meet the referral program's requirements as set forth in these terms; or
• otherwise attempted to tamper with, undermine, or disrupt the legitimate operation of the referral program.

Robinhood may conduct a review, including a confidential background or financial-crimes check, of any participant before or after rewards are granted, and may disqualify a participant or reclaim rewards where such review reveals a violation of these terms. Any attempt to deliberately undermine the legitimate operation of the referral program may violate criminal and civil law, and Robinhood reserves the right to seek damages to the fullest extent permitted by law.

Restrictions: Robinhood reserves the right to change the offer terms or terminate the offer at any time without notice. The offer is not transferable, saleable, or valid in conjunction with certain other offers and is available to US residents only. Employees, contractors, or persons similarly associated with Robinhood or a Robinhood affiliate; members of their household; employees of any securities regulatory organization or exchange, employees of market makers, and registered representatives or any broker-dealer are not eligible. Individuals who are engaged by Robinhood, or by an agency or marketing partner on Robinhood’s behalf, to create or promote content about Robinhood’s products or services in exchange for compensation — including participants in any Robinhood-sponsored content creator, influencer, or affiliate marketing program — are also not eligible to participate in this Offer as Referrers. An individual who was previously engaged in such a capacity becomes eligible to participate in this Offer only after the 30th day following the termination of that engagement. The offer is only available for personal use, and may not be used for commercial purposes. You represent that you have the necessary consent from your invitee to send them any text or email relating to this offer. By participating, you agree not to text your referral link to any contacts in Washington state.

Transition from the Prior Referral Offer: This Offer replaces the referral offer previously made available by Robinhood. Referrals credited, and rewards paid, under the prior offer before the Effective Date are unaffected by this Offer and remain valid. As of the Effective Date, each Referrer's cumulative referral count resets to zero for purposes of this Offer. This Offer will remain available on an ongoing basis until modified or discontinued. Robinhood reserves the right to modify the terms of this Offer, including the milestone schedule and the annual cap described above, or to discontinue this Offer entirely, at any time and without notice.

Any individual stock shown in any marketing communications is not a recommendation or solicitation that a customer buys, holds, or sells any investment or investment strategy, and any such stock is a visual representation of what a customer can receive in connection with this Offer. Stocks that are shown are available as part of this Offer, and any individual or group of stocks that are shown reflect the frequency of stocks that are chosen as part of this Offer by Robinhood customers.

Fractional shares are illiquid outside of Robinhood and not transferable. Whole shares received under this Offer are standard brokerage holdings and are not subject to this restriction. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of the Robinhood Customer Agreement. Other restrictions may apply.

Taxes: Taxes related to this offer are solely your responsibility. Consult with your tax advisor about the appropriate tax treatment for this offer and any tax implications associated with receipt of a stock reward before enrolling. For taxable accounts, the value of all Robinhood offers received may be reported on applicable 1099 forms where required by rules and regulations.