If you want to close your account, you can deactivate it in the app. Before you can close your brokerage account, you must sell all your stock positions and withdraw the balance.
After your account has been deactivated, you can still view historical account statements, tax documents, and trade confirmations in the app.
You can request to close your Robinhood brokerage account positions and withdraw your money from within the app or on the web:
- Select Account (person icon) → in the app, Menu (3 bars)
- Select Settings
- Select Account Information → Deactivate account
- Follow the steps to close all your brokerage positions and withdraw your outstanding balance
- After your balance is $0 and your positions are closed, you can confirm your deactivation request
Instead of closing your brokerage positions, you can request to transfer your Robinhood brokerage account to another brokerage company:
- Choose where you’d like to transfer your brokerage account.
- Submit a request to that brokerage to have your assets transferred out of Robinhood. If you transfer all of your assets out, we’ll automatically close your Robinhood account for you.
If you need help, contact us.
Finding your account records
Finding your account records
After your Robinhood account is closed, you’ll still be able to retrieve your account statements, tax documents, and trade confirmations in the app. Keep in mind, downloading the Robinhood app again later won’t reactivate your account.
Both US and UK laws and regulations require us to preserve certain books and records. We take the security of all collected data extremely seriously, and we don’t intend to use this data for anything beyond the fulfillment of our regulatory requirements.
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FAQs
No, you cannot close your Robinhood account if you have open positions or funds remaining. You need to sell all your investments and withdraw any remaining balance before you can close your account.
Why is Robinhood not letting me close my account? ›
No, you cannot close your Robinhood account if you have open positions or funds remaining. You need to sell all your investments and withdraw any remaining balance before you can close your account.
Does it cost to close a Robinhood account? ›
At Robinhood, we aim to cut all the fees we can. This means that for Cash Management, we don't charge: Maintenance fees: We don't charge fees to open, close, or maintain an individual investing account.
How to close positions in Robinhood? ›
Here is a summary of the steps involved in terminating a position in Robinhood:
- Launch the app for Robinhood.
- Open your account and log in.
- Select the "Investments" or "Positions" tab.
- Decide which position to shut.
- Put the sell order in motion.
- Indicate how much you want to sell.
Robinhood is a member of the Securities Investor Protection Corp. (SIPC). This means that any loss of an investor's securities (e.g., stocks and bonds) and cash held by Robinhood is protected up to $500,000 in the event the firm fails or goes out of business. This includes up to $250,000 protection for cash holdings.
How long does it take to deactivate Robinhood account? ›
Finally, fire up your email and submit a written request to Robinhood (support@robinhood.com) to close your account. The written request step is a MUST! Once this is complete, a representative will reach out within five business days. Your account will be restricted from investing or trading.
Can I permanently delete my Robinhood account? ›
Close your account
Select Account (person) → Settings. Select Account Information → Deactivate Account. Follow the steps to close all your account positions and withdraw your outstanding balance. After your balance is $0 and your positions are closed, you can confirm your deactivation request.
Can Robinhood keep my money? ›
Your securities and cash are protected by SIPC
Robinhood Financial LLC and Robinhood Securities, LLC are both members of SIPC, which protects securities for customers of its members up to $500,000 (including $250,000 for claims for cash) for each investing account, including IRAs.
Can I end up owing Robinhood money? ›
Regardless of the underlying value of the securities you purchased, you must repay your margin debt. Robinhood Financial can change their maintenance margin requirements at any time without prior notice.
Is deactivating the same as deleting Robinhood account? ›
Requesting to delete data won't delete or deactivate your account. If you deactivate your account, Robinhood must retain certain data to comply with applicable laws and regulations. Review Close my account for details.
To unlink your bank or external debit card account from Robinhood
- Tap Account.
- Tap Menu (3 bar icon) → Transfers.
- In Linked accounts, tap the account you want to unlink.
- Tap Unlink.
- Tap Unlink again to confirm.
In case you are looking to close your trading account along with the Demat account, as is normally the case, there are 2 things to ensure. Firstly, ensure no Demat charges are pending and no stocks in your Demat account. Alternatively, you can also give a closure cum transfer request to the broker.
How to cash out Robinhood stocks? ›
To withdraw money from Robinhood to your bank account, simply follow these steps: Open the app, go to the menu, select “Transfers,” choose “Transfer to Your Bank,” enter the amount you wish to withdraw, review the details, and confirm.
Can I contact Robinhood by phone? ›
Only request phone or chat support from Robinhood through the app or at robinhood.com/contact. At this time, we do not have a direct dial support phone number that will connect you to a live agent.
How do I cash out my stocks? ›
Stocks can be cashed out by selling them through a broker on a stock exchange. Selling stocks can provide cash for major expenses or to reinvest in other assets.
Why isn t Robinhood letting me withdraw all my money? ›
After depositing funds into your Robinhood account, you will typically need to wait 2 days for the funds to “settle” before they're ready to be invested (or withdrawn). This is what leads to “Withdrawable Cash” being less than the total cash in your account.
Does deactivating my Robinhood account delete it? ›
Requesting to delete data won't delete or deactivate your account. If you deactivate your account, Robinhood must retain certain data to comply with applicable laws and regulations. Review Close my account for details.
Why to stay away from Robinhood? ›
No mutual funds or bonds: The lack of mutual funds and bonds may make it difficult to build a truly diversified portfolio. Customers can only access bonds via bond ETFs. Limited customer support: Robinhood has made noticeable improvements to its customer service, but it's still not on par with other brokerages.
Can I close and reopen Robinhood account? ›
We'd be happy to see you again if you'd like to come back to trading with us! After confirming your profile information and tax status with us, you can request to reactivate your Robinhood account directly within the app or on the web: Select Account → Menu (3 bars) or Settings.
