Update 12/20/24: Turns out the ‘piece of the pie’ ended up being $8.29. I might cancel mine.
The Offer
Robinhood is offering three special promotions for those who signup for Robinhood Gold membership between December 9th and December 16th:
- A piece of the $1M pot: Robinhood will divide $1,000,000 equally among eligible new members who join Gold between Dec 9–16.
- Boosted 4.75% APY on your cash: Earn a boosted rate on your brokerage cash for 60 days, then earn 4.25% APY.
- Discount on Gold membership: Get your first year of Gold for just $45. (regular price is either $50 per year or $5 per month)
- Of course you’ll also get all of the regular Robinhood Gold benefits (including the margin benefit).
You need to keep the Gold membership for a full year to be eligible to keep your piece of the Pie.
The Fine Print
- Excludes current Gold customers
- Excludes customers who had Gold membership within the past 60 days
- See full terms at this link
Our Verdict
This is clever branding: when I saw the offer it sounded pretty exciting…until I realized that there are 24M Robinhood users and over 2M Gold subscribers. With this new Pie offer there can potentially be 100,000+ new subscribers which would result in $10 piece of the pie (or less). In any case, there is the excitement of some chance of a higher reward here.
From the landing page it appears you can join with either the monthly or yearly Robinhood Gold rate. You need to keep Gold for a full year to be eligible for the pie, and so presumably you’ll want to just pay for the $45 yearly rate instead of $5/month.
The advantage of doing the $5/month option is that you can wait and see whether it’s worth keeping the Gold membership for a year based on the size of the pie. Some people might also want to pay just for the first two months for the 4.75% APY rate.
I signed up for the year option mistakenly (thinking that I was logged out), and the system apparently gave me a free 30 days – it shows a January 11, 2025 billing date for the $45.
The terms specify that you must see the offer in the app or via email to be eligible. The terms also say that someone without a Robinhood account can sign up now for Robinhood at this link and they’ll be eligible. My guess is all Robinhood users who go to the landing page will be able to signup for the $45 rate and will get the Pie offer and the 4.75% offer.