Best Robinhood Coupon Codes

Robinhood accepts all major Credit/Debit cards.

Clearing by Robinhood brings two exciting changes to the way they support customers like you:

A new brokerage firm that exists solely to support its customers’ investing

A new engineering system that powers the new brokerage

Clearing by Robinhood will allow them to help their customers more easily and efficiently, and there are three changes you’ll notice right away:

They’re reducing or cutting seven fees that their former clearing broker charged

They’re approving applications 24/7

They’re bringing their award-winning design to everything from brokerage account statements to trade confirmations

Yes! But, there are two types of brokerage firms: introducing brokers and clearing brokers. These two types of brokers have very different regulatory oversight requirements.

Before, Robinhood was only an introducing broker, which means that they used a clearing brokerage for “back office” support, like settling the trades you placed on Robinhood. Using a clearing broker is the industry norm when a company like Robinhood wants to let its users place trades. In fact, the top five clearing firms cleared 1,310 introducing firms in 2016.

Now, Robinhood is also a clearing broker, which means they have complete control over giving you the best experience out there!

If you want to stay a Robinhood customer, you’ll have to use Clearing by Robinhood. If you’re not interested in using Clearing by Robinhood, you can transfer your assets to another brokerage.

They’d be sad to see you go, but hope you’ve enjoyed being a part of their journey to democratize the financial system.