By clicking the “Submit Application” button, I agree to this Robinhood Financial Brokerage Application Agreement (this “Application Agreement”) and elect to participate in the FDIC-Insured Sweep Program (as defined below). I also agree to the terms of theRobinhood Terms and Conditions, Apex Customer Account Agreement,Robinhood Financial Customer Agreement, RHF Use and Risk Disclosures, RHF PFO Disclosure, RHF Business Continuity Plan Summary, FINRA Public Disclosure Program, Robinhood Sweep Program Disclosure Document, and the Apex Sweep Program Terms and Conditions which are incorporated by reference and constitute part of this Application Agreement.
In addition, I may, in the future, receive from You supplemental disclosures, terms, and agreements that pertain to certain account types, features, or services. References to this Application Agreement include such supplemental disclosures, terms, and agreements. Capitalized, undefined terms in this Application Agreement have the meaning given in the Robinhood Financial Customer Agreement. I agree to read this Application Agreement and all incorporated disclosures, terms, and agreements carefully and retain copies for My records.
MY ELECTION TO PARTICIPATE IN THE FDIC-INSURED SWEEP PROGRAM
I affirmatively elect to have dormant cash in My brokerage account at Apex Clearing Corporation (“Apex”) (such account, an “Apex Account”) “swept” into and out of an interest-bearing FDIC-insured deposit account opened by Apex at a participating bank (“Program Bank”), at no cost to Me, by participating in the Apex FDIC-Insured Sweep Program (the “FDIC-Insured Sweep Program”) where it may earn interest paid into My Apex Account. The interest rate will be based on numerous factors, including the current interest rate environment, and is subject to change without notice.
My excess cash balances that Apex sweeps to a Program Bank, together with any non FDIC-Insured Sweep Program deposits I may have at the same Program Bank, are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to a standard maximum amount in accordance with the FDIC’s rules. The applicable FDIC insurance limit depends on a number of factors. I will consult www.fdic.gov for further details.
Securities and funds not swept to a Program Bank are held in My Apex Account and are covered by the Securities Investor Protection Corporation (“SIPC”), of which Apex is a member. As a member of SIPC, funds are available to meet customer claims up to a current ceiling of $500,000, including a maximum of $250,000 for cash claims. SIPC does not protect the value of any security. For additional information regarding SIPC coverage, including a brochure, I will contact SIPC at (202) 371-8300 or visit www.sipc.org.
My excess cash balance is only eligible for FDIC coverage once it is in an account at a Program Bank. Assets covered under FDIC insurance are exempted from SIPC coverage. Therefore, SIPC coverage is not available for deposits in the FDIC-Insured Sweep Program.
I may terminate My participation in the FDIC-Insured Sweep Program by contacting You at support@robinhood.com after My brokerage account is opened.
The foregoing summary of certain features of the FDIC-Insured Sweep Program is solely prepared for My convenience, and must be read in conjunction with the Robinhood Sweep Program Disclosure Documentand the Apex Sweep Program Terms and Conditions. You provide no investment, legal, or tax advice. I agree that I have carefully considered if this FDIC-Insured Sweep Program meets My investment objectives. I acknowledge that I have read and agree to be bound by the Robinhood Sweep Program Disclosure Document and the Apex Sweep Program Terms and Conditions.
MY WARRANTIES AND REPRESENTATIONS
I represent and warrant that:- This brokerage account is not maintained by a current or former Politically Exposed Person or Public Official (includes U.S. and Foreign Individuals).
- This brokerage account is not maintained by a Foreign Financial Institution as defined by Title 30 of the Code of Federal Regulations.
- This brokerage account is not a Foreign Bank organized under foreign law and located outside of the United States as defined by Title 31 of the Code of Federal Regulations.
- I have carefully reviewed, understand and agree to the terms and provisions of the following: Robinhood Terms and Conditions,Apex Customer Account Agreement, Robinhood Financial Customer Agreement, RHF Use and Risk Disclosures, RHF PFO Disclosure, RHF Business Continuity Plan Summary, and FINRA Public Disclosure Program.
- All information provided in this application is accurate. You can rely on and are authorized to verify this information, and I will promptly notify You of any changes.
- I consent to receive all future brokerage account information electronically.
- Clicking the “Submit Application” button is equivalent to My written signature, and I understand that I am entering into legal agreements.
- I HAVE READ THE APEX CUSTOMER ACCOUNT AGREEMENT, WHICH CONTAINS A PREDISPUTE ARBITRATION CLAUSE (SECTION 8 ON PAGES 2 AND 3) AND AGREE IN ADVANCE TO ARBITRATE ANY CONTROVERSIES WHICH MAY ARISE BETWEEN OR AMONG ME, YOU, AND/OR APEX IN ACCORDANCE WITH SUCH SECTION 8.
- I HAVE READ THE ROBINHOOD FINANCIAL CUSTOMER AGREEMENT, WHICH CONTAINS A PREDISPUTE ARBITRATION CLAUSE (SECTION 29).
- THE INFORMATION I HAVE PROVIDED IN THIS APPLICATION IS ACCURATE.
- I AGREE TO NOTIFY YOU PROMPTLY REGARDING ANY CHANGE IN THE INFORMATION PROVIDED ON THIS APPLICATION.
RULE 14b-1(c)
I acknowledge that Rule 14b-1(c) of the Securities Exchange Act, unless I object, requires You to disclose to an issuer, upon its request, the names, addresses, and securities positions of Your customers who are beneficial owners of the issuer's securities held by You in nominee name. The issuer would be permitted to use My name and other related information for corporation communication only. If I object, I will send an email to support@robinhood.com with “Rule 14b-1(c) objection” in the subject.
W-9 CERTIFICATE
Under penalties of perjury, I certify that: (1) the number shown on this form is My correct taxpayer identification number (or I am waiting for a number to be issued to Me), and (2) I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified Me that I am no longer subject to backup withholding, and (3) I am a U.S. citizen or other U.S. person (defined below).
If I have been notified by the IRS that I am currently subject to backup withholding because I have failed to report all interest and dividends on My tax return, I will send an email to support@robinhood.com with “Backup Withholding” in the title.
Definition of a U.S. person. For federal tax return purposes, I am considered a U.S. person if I am: An individual who is a U.S. citizen or U.S. resident alien, a partnership, corporation, company, or association created or organized in the United States or under the laws of the United States, an estate (other than a foreign estate), or a domestic trust (as defined in Regulations section 301.7701-7).
The Internal Revenue Service does not require My consent to any provisions of this document other than the certifications required to avoid backup withholding.
MY AUTHORIZATION AND MY AGREEMENT
I authorize You and/or Apex to obtain a consumer report at the time of application to verify My creditworthiness and to obtain a consumer report from time to time for updates, renewals, extensions, and collection activity on any approved brokerage account. Upon My written request, You and/or Apex will disclose to Me whether it obtained a report, and if so, the name and address of the consumer-reporting agency that provided it. In the event that My brokerage account is denied by Apex, as a result of the consumer report verification, I authorize Apex to provide to You the reason(s) for such denial.
BY CLICKING ON THE “SUBMIT APPLICATION” BUTTON, I AGREE TO THIS APPLICATION AGREEMENT AND ELECT TO PARTICIPATE IN THE FDIC-INSURED SWEEP PROGRAM.
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