![]() As a result, and given the automation in the account opening process today, it would be virtually impossible for you to complete the account setup process without providing this. While technically it’s not legally required that the broker records your SSN if you refuse to provide it, the broker must make a good faith effort to collect it. Which includes your name, address, date of birth, government ID, net worth, and SSN, among others. The Securities and Exchange Commission (SEC) requires brokers to collect personal identification information for anyone looking to open an account, Get one FREE stock when you open an account. Get 2 FREE stocks and $0 commission in ALL trades! $11-$2300 x 2 Free Stocks Give-away + $5 in Bitcoin. $0 commissions + transfer fee reimbursement. There are two primary reasons for this requirement, which we discuss below. Organizations in Financial Services, like the Financial Industry Regulatory Association (FINRA). Even aside from the government, collecting this information is also the recommended practice of self-regulating ![]() government to collect this, among other personal information, forĪnyone looking to open an account. The short answer is that all brokers (not just Robinhood) are required by the U.S. So you heard about Firstrade's and Robinhood’s free trading and you’ve finally decided to open an account to see it for yourself (yes, it’s true, trades really areĬommission-free and they give FREE stock for opening an account).īut you’re not sure why they’re asking for your social security number (SSN) during the account setup process. When opening a brokerage investing account? Is it safe to give Robin Hood my SSN? ![]() Why Robinhood Needs SSN (Social Security Number)?Ģ021: why Firstrade and Robin Hood asking for SSN (Social Security Number), address, personal and employment info ![]()
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