![]() Because the shares of XYZ were bought and then sold using unsettled funds from the ABC sale, a GFV will be issued. On Tuesday, February 3, the customer sells the shares of XYZ. He then uses the funds to purchase shares of XYZ on the same day. This trade will settle on T+2, which is Wednesday, February 4. On Monday, February 2, a customer sells 100 settled shares of ABC, which generates proceeds of $5,000. This means you will be required to have settled cash in that account before placing an opening trade for 90 days. If an account is issued its third GFV within a 12-month rolling period, then the account will be restricted to settled-cash status for 90 days from the due date of the third GFV. If you are issued a GFV, it will remain on that account for a 12-month rolling period. ![]() For reference, the current settlement period on a stock trade is trade date plus two business days (T+2), and the settlement period on an options trade is the trade date plus one business day (T+1). All rights reserved.A GFV is issued when a position is opened using unsettled funds and then the position is subsequently closed before the funds used to make the opening trade have settled. Robinhood, 85 Willow Road, Menlo Park, CA 94025. Please see Robinhood Financial’s Fee Schedule to learn more. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. ![]() listed securities and certain OTC securities electronically. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.Ĭommission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options trading entails significant risk and is not appropriate for all customers. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (see the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement). Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. ![]() Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC).
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