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Question: if they do go bankrupt then you still own your stocks, right? Do customers lose anything?
by wfunction 9y ago
Question: if they do go bankrupt then you still own your stocks, right? Do customers lose anything?
- omarchowdhury 9y agoRobinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
- wfunction 9y agoThanks!
- sobani 9y agoYou will always be the owner of the stocks you purchase. If Robinhood is set up like most (all?) brokerages, then your assets are held in a separate entity that would be unaffected by a bankruptcy. So creditors of Robinhood can't go after your assets, even when they are managed by Robinhood. Of course, should Robinhood go under, don't expect easy access to your assets, until some other brokerage takes it over.