Robinhood
Robinhood Class Action Settlement Over Payment for Order Flow Trades
Claims are closed in the $2,000,000 Robinhood class action settlement over alleged order flow harm in 2016-2018 trades. See what happened.
The claim window closed on Jul 13, 2026.
This page stays online as a record for people who already filed. Browse open settlements or see other closed settlements.
- Potential payment
- Est. $17.60
Subject to eligibility and claim terms.
- Claim deadline
- Closed Jul 13, 2026
- Proof requirement
- No proof
The estimated payment of about $17.60 represents an average projection only; each authorized claimant’s payment will be a pro rata share of the net settlement fund (after taxes, administration costs, litigation expenses, and any service award) based on that person’s calculated trading damages, so the actual amount may be higher or lower than $17.60 depending on the number and size of valid claims.
Eligibility
Who may qualify?
Check the covered dates, products, locations, and other official terms before you file.
- You had a brokerage account with Robinhood Financial LLC, Robinhood Securities, LLC, or Robinhood Markets, Inc. at some point between September 1, 2016 and September 1, 2018.
- Between September 1, 2016 and September 1, 2018, you placed at least one market order (not a stop order) to buy or sell equities through Robinhood during market hours.
- At least one of your qualifying Robinhood market orders to buy equities during that period was executed at a price higher than the National Best Offer at the time the order was routed and/or at least one of your qualifying market orders to sell equities was executed at a price lower than the National Best Bid at the time the order was routed.
- When you add together the differences between the execution prices of your qualifying trades and the National Best Bid or Offer at the time those orders were routed, the total is greater than $5.00.
Case overview
What is the Robinhood settlement about?
A proposed class action claims Robinhood misrepresented the payment for order flow it received and routed certain customer equity orders in a way that gave them worse 'price improvement,' allegedly causing some trades made between September 1, 2016 and September 1, 2018 to execute at prices worse than the National Best Bid or Offer, with more than $5 in aggregate harm alleged per affected customer. Robinhood denies any wrongdoing, but the parties have reached a proposed $2,000,000 settlement that has received preliminary court approval. A final fairness hearing is scheduled for May 5, 2026. Class members who still have active Robinhood accounts in good standing don't need to do anything, they'll be paid automatically. Those without an active account, or who want their payment sent via ACH to a different bank, must file a claim form using the unique class member ID included in their mailed or emailed settlement notice; that ID is the only proof required, and no trade statements or other supporting documents are needed.
Case details
- Final hearing
- May 5, 2026
- Settlement fund
- $2,000,000
Questions people ask
Frequently asked questions
How much is the Robinhood settlement payout?
The estimated payment of about $17.60 represents an average projection only; each authorized claimant’s payment will be a pro rata share of the net settlement fund (after taxes, administration costs, litigation expenses, and any service award) based on that person’s calculated trading damages, so the actual amount may be higher or lower than $17.60 depending on the number and size of valid claims. The reported settlement fund is $2,000,000. Final amounts depend on the number of valid claims and the administrator's terms.
Who qualifies for the Robinhood settlement?
Key eligibility criteria include: You had a brokerage account with Robinhood Financial LLC, Robinhood Securities, LLC, or Robinhood Markets, Inc. at some point between September 1, 2016 and September 1, 2018; Between September 1, 2016 and September 1, 2018, you placed at least one market order (not a stop order) to buy or sell equities through Robinhood during market hours; At least one of your qualifying Robinhood market orders to buy equities during that period was executed at a price higher than the National Best Offer at the time the order was routed and/or at least one of your qualifying market orders to sell equities was executed at a price lower than the National Best Bid at the time the order was routed; When you add together the differences between the execution prices of your qualifying trades and the National Best Bid or Offer at the time those orders were routed, the total is greater than $5.00. Always confirm the full class definition with the official source before filing.
Is the Robinhood settlement legit?
Yes, this is a real, documented settlement. TapClaim verified the official source (Kroll Settlement Administration official website). Claims are closed, so be cautious of any site that still asks you to file or pay for this settlement.
What is the claim deadline for the Robinhood settlement?
The claim deadline was Jul 13, 2026, and this settlement is closed to new claims.
Is the Robinhood settlement open for claims?
No, this settlement is closed to new claims.
Settlement administrator and official sources
- AdministratorKroll Settlement Administration
- Administrator websiteKroll Settlement Administration official websiteVisit administrator websitePrimary official source
- Official claim pageOfficial claim formView official claim pageSupporting official source
- Listing verificationLast checked Sep 26, 2026
