Robinhood Order Flow Class Action Settlement

What is the Robinhood trade execution settlement about?

The Robinhood Order Flow class action settlement (In re: Robinhood Order Flow Litigation) resolves a lawsuit alleging that Robinhood Financial LLC, Robinhood Securities LLC, and Robinhood Markets Inc. failed to route customers' market equity orders to the venues offering the best available prices — a practice required by securities regulations known as 'best execution.' The lawsuit claimed that from September 1, 2016 through September 1, 2018, qualifying market buy orders executed above the National Best Offer and qualifying market sell orders executed below the National Best Bid, causing customers to receive worse prices than they should have.

Robinhood denied wrongdoing but agreed to a $2 million settlement fund administered by Kroll Settlement Administration LLC and overseen by the U.S. District Court for the Northern District of California. Customers with active Robinhood accounts in good standing are expected to receive automatic credits and do not need to file a claim. Customers without an active account must submit a claim form by July 13, 2026.

Who qualifies to file a claim?

• You were a U.S. customer of Robinhood Financial LLC, Robinhood Securities LLC, or Robinhood Markets Inc. between September 1, 2016 and September 1, 2018.
• You placed qualifying market equity orders during market hours in that period where buy orders executed above the National Best Offer, or sell orders executed below the National Best Bid.
• Your aggregate total qualifying price difference exceeded $5.00.

How to file a claim

1. 1If you have an active Robinhood account in good standing, check your account — eligible customers are expected to receive an automatic credit without needing to file a claim.
2. 2If your Robinhood account is closed or inactive, visit the official settlement website at RobinhoodOrderFlowSettlement.com.
3. 3Complete the online claim form with your Robinhood account number and any required information.
4. 4Submit your claim before the July 13, 2026 deadline and save your confirmation number.
5. 5Questions? Contact the settlement administrator (Kroll Settlement Administration) at 833-754-8881 or RobinhoodOrderFlowSettlement@kroll.com.

Is the Robinhood settlement legit?

Yes. The Robinhood trade execution settlement is a court-supervised class action overseen by the U.S. District Court for the Northern District of California (4:20-cv-09328-YGR) and administered by an official settlement administrator. You file your claim directly with the administrator and keep 100% of any payment — Payout never takes a cut. The fastest way to avoid missing this and other settlements you qualify for is to let Payout match and file for you in minutes.