Refer 3, Get 4

How to Participate in the “Refer 3, Get 4” Promotion

When you invite 3 friends between January 1, 2020 and December 31, 2020, and the conditions in the promotion are fulfilled, we'll credit your account with a 4th bonus stock.

How to Get Your Bonus Stock You can refer your friends to Robinhood directly from your app!

  1. Tap the account icon in the bottom right corner
  2. Tap Invite friends, get free stock
  3. Tap Invite Friends

If you successfully refer 3 friends, we’ll credit you an extra stock after your third referral.

We may show you a few friends who might be interested based on how many mutual friends you have using Robinhood. If enough of your friends sign up, you can earn up to $500 per year in free stocks!

How We Choose Your Free Stock

Shares of free stock are chosen randomly from our inventory of settled shares. The value of the share may be anywhere between $2.50 and $200, and fluctuates based on market movements. We choose from the most popular companies on Robinhood, based on the value of each share.

Keep in mind

We can’t credit your account or invites you send before you began participating in the program and you can’t open a second account to get a free stock. We cannot provide information about someone else’s account or application.

How Many Free Stocks You Can Receive

The “Refer 3, Get 4” Offer is valid only for your first 3 referrals. There will not be additional bonus stock grants after the first set of 3 successful referrals (e.g. if you refer an additional 3 friends—for a total of 6—you will not be eligible to receive another bonus stock as part of this offer).

However, you can continue to refer friends to Robinhood to receive a total of up to $500 in free stocks on an annual basis from all offers, combined. You can check the price of each stock you’ve received on your History tab. If the total value of your free stocks from the two programs approaches $500, you'll stop receiving free stocks once the lowest-priced stock in our inventory would bring you over the $500 limit. For example, if you’ve received $497.00 in free stocks and the lowest-priced stock in our inventory is $3.75, you won't be able to receive more free stocks until the new year.


The cash value of the free stock at the time you received it will be reported as “Other Income” on a 1099-Misc form. Any gains or losses on the sale of the stock should be reported as capital gains or losses. You can check the cost basis (the original value) of each stock you’ve received in your app on your History tab.


You receive a $10 stock and later sell it for $15 dollars:

  • The $10 stock gift will be reported as “Other Income.”
  • The $5 gain will be reported as capital gains.

Terms and Conditions

Robinhood "Refer 3, Get 4" free stock bonus offer valid for existing qualifying clients who successfully refer three (3) new Robinhood accounts. Bonuses will be credited only if a referral is sent between January 1, 2020 and December 31, 2020, and the referred customer fulfills the conditions in their promotion during this period, and the bonus is claimed through the Robinhood platform. Limit one offer per three qualified referrals with a maximum of one account per referred client. Stock bonus will be credited to the enrolled account within approximately one week after the bonus is claimed. Stock bonuses that are not claimed within 60 days may expire. Shares from stock bonuses cannot be sold until 2 trading days after the bonus is granted. The cash value of the stock bonus may not be withdrawn for 30 days after the bonus is claimed.

Robinhood reserves the right to change the offer terms or terminate the offer at any time without notice. The offer is limited to one per account, with no more than one account enrolled per customer. The stock bonus, when combined with the value received from all other offers in the last 12 months, may not exceed $500 per household per year. The offer is not transferable, saleable, or valid in conjunction with certain other offers and is available to U.S. residents only. Employees, contractors, or persons similarly associated with Robinhood or a Robinhood affiliate; members of their household; and employees of any securities regulatory organization or exchange are not eligible. Robinhood may decline requests to enroll in the offer at its discretion. Robinhood cannot provide information about someone else’s account or application. Other restrictions may apply.

The stock bonus is one share selected randomly, when the bonus criteria are met, from Robinhood’s inventory of settled shares held for this program. When shares are purchased into this inventory, Robinhood purchases shares from the three to four companies representing the highest market capitalization in various ranges of share prices between approximately $3 and $175, limited to those companies that are widely held among Robinhood accounts. There is an approximately 98% chance of the stock bonus having a value of $2.50-$10, an approximately 1% chance of the stock bonus having a value of $10-$50, and an approximately 1% chance of the stock bonus having a value of $50-$200, based on the price of shares at the time of purchase. The Robinhood platform displays approximate odds of receiving shares from particular companies at the time the screen is generated. These odds do not necessarily reflect the odds of receiving stock in those companies at the time the stock bonus is awarded.

Neither receipt of a share of stock through this program nor identification of a particular security in communications related to this program constitutes a solicitation of the security or a recommendation to buy, sell, or hold the security. Robinhood does not provide investment advice and does not hereby recommend any security or transaction.

Consult with your tax advisor about the appropriate tax treatment for this offer and any tax implications associated with receipt of a stock bonus before enrolling. For taxable accounts, the value of all Robinhood offers received may be reported as Other Income on a Form 1099-MISC where required by applicable rules and regulations. Robinhood does not take responsibility for any tax related to this Stock bonus.

Reference No. 20201002-1352854-4118631
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