Robinhood Referral Code | $225 in Free Stock (2024)

How to Sign-Up for Robinhood

One of the best features of Robinhood’s referral program is how easy it is to sign up and get started. Here is how you create your own account, earn some free stock, and refer people to Robinhood to make even more.

1. Create a Robinhood Account.

Create a Robinhood Account by visiting the Robinhood sign up page.

2. Input Your Info and Link Your Bank Account.

Input your information and link your bank account to qualify for your free stock.

3. Get your free stock.

Once you have created your account, click the account/person icon in the bottom right corner, then tap “Get Free Stock“.

4. Share your link.

To share your Robinhood referral code, tap “Invite Contacts“, then tap “Invite” next to the friends you want to refer to Robinhood. Or, simply copy and paste your Robinhood invite link and share your code by hand.

From there, you can start referring your friends to Robinhood and earning free stock for everyone who signs up and connects their bank account (feel free to share our step-by-step process)! All you need is your Robinhood invite code to share, and you will be on your way to quickly and diversifying your stock portfolio.

How the Robinhood Referral Program Works

Share your Robinhood referral code, and both you and your friend earn a free stock to add to your portfolio when they sign up and connect their bank account. You can earn a total of $500 worth of stocks a year by sharing your code with friends, and each stock will be worth $2.50 and $225. With that in mind, you have a higher chance of earning $2.50 than $225. According to Robinhood’s Referral Program details, “98% of the participants will receive a reward stock having a value from $2.50 to $10.” in other words, you can earn a little less than $2.50, and the lower value stocks are much more common to earn.

There are some other rules and limitations to consider. Still, the bottom line is Robinhood’s Referral Program allows you to grow your portfolio just for spreading the word about Robinhood! Below we will cover more details, including some of the rules you need to know to earn even more by becoming a Robinhood affiliate!

Robinhood Affiliate Program

If you are an influencer or content creator, you may also want to look into Robinhood’s Affiliate Program on Impact. You can still offer your invitees a free stock, but instead of simply earning a free stock, you’ll earn up to $30 commission per sign-up! Keep in mind that you have to apply for this program, which is different from the Robinhood refer a friend program described above.

Robinhood Rules and Limitations

Even with the freedom to send the link to nearly anyone who doesn’t have an account on Robinhood, there are some things to consider when using the Robinhood Referral Program.

• You must claim your reward stock within 60 days.
• You can only earn up to $500 per year in reward stocks.
• You do not get to choose what stock you are awarded. Robinhood will randomly choose a stock for you between $2.50 to $225 in value (with lower value stocks being more common).
• You can only have one account, so you can’t open another account just for stock rewards or earn one from your own Robinhood invite code.
• Your invites have to signup and link their bank account before you receive the reward stock.
• You must agree to participate in the stock reward program. Otherwise, you will not be credited with any referrals you make to Robinhood for your friends and family.

Additionally, you also have to be mindful of how your reward stocks and your activity on Robinhood will appear on a tax document at the end of the year. For more information on that, feel free to find out more about how your rewards will appear on your tax documents.

What Are My Chances of Earning an Expensive Reward Stock?

Robinhood’s reward stocks vary in their pricing, but there is data that can give you a probable guess as to what stock you are most likely to earn. Unfortunately, you can expect to earn stocks that cost between $2.50-$10 on average in practice.

According to their website, 98% of all Robinhood referral partners earn a stock that costs between $2.50 to $10.

Only 1% of all Robinhood participants earn a stock valued between $10-$50. Another 1% earn a stock that is worth $50-$225. These odds might be small, but you still have a shot at earning these stocks!

Even with these low odds, it is still definitely worth sharing your referral code with friends, especially since you can keep earning up to the $500 limit each year.

Robinhood Referral Program Review

The Robinhood Referral Program is one of the best in the genre due to its generosity (something uncommon with equity-related platforms). We love that both the referrer and invitee get something, and we especially love that they get some free stock instead of just cash with the basic referral program. It is legitimately exciting. We also like that the referral program applies to any account type, whether you have the Instant, Gold, or even Cash account types, and that you don’t have to make a trade to qualify for the free stock.

With that said, for pure earning potential, you for sure want to go with the affiliate program (not something everyone can do). Another plus here is the platform itself. Robinhood, in general, is going to get high marks from us for their low fees and ease of access to crypto, equities, options, and more.

Honestly, the only gripe we have with Robhinhood’s invite program is the quality of stocks you get. We have typically gotten penny stocks as rewards from companies that we had to look up. They weren’t stocks we would have bought on our own. Still, the experience was fun!

With all of the great features and few drawbacks considered, we give the Robinhood referral program a 4 out of 5.