In the depths of covid-19 pandemic, a person in dire straits turned to the last people that would hear them out: the Federal Trade Commission.
“I had my paycheck direct deposited into Robinhoods new cash management account. Just like a regular bank get paid use debit card, well I got paid last Friday June 12, 2020 and have not been able to use my debit card withdrawal funds or transfer any money to my other banks. I have missed my car payment, dentist appointment, I owed $252.00 and got declined. Totally embarrassing to say the least, plus my other bills are due,” the person wrote in a complaint obtained by Gizmodo.
The inability to withdraw money from Robinhood accounts for extended periods of time was a common complaint from consumers. There were also people who said they were hacked and then became frustrated that Robinhood was unresponsive when they tried to resolve the issue. Some users who say they were hacked even claimed they lost thousands of dollars when they couldn’t reach Robinhood about the issue.
Robinhood, an online stock trading company worth $9.7 billion as of press time, boasts over 17 million people who trade stocks and cryptocurrency on its app. It’s an incredibly popular retail trading platform in the U.S., and many of its users are novice traders. Some users struggled with what they said problems with Robinhood’s product in the early months of the coronavirus pandemic, already a financially tenuous period. We obtained complaints filed with the Federal Trade Commission about Robinhood during that time.
Gizmodo submitted a Freedom of Information Act (FOIA) request with the Federal Trade Commission for consumer complaints filed about Robinhood that cover the period from mid-2020 until mid-2021, just before the company went public in July of that year. The FTC found 3,081 complaints, but only released 200 of those to Gizmodo under its obligations to comply with FOIA law. Private information, including the identities of the people making complaints, was redacted by the FTC, which means Gizmodo was unable to contact the consumers. But we’re publishing a small sample of the complaints in an effort to highlight patterns that point to larger problems, just as we have with other companies like Binance, Tinder, Venmo, Rent-A-Center, AirBNB, and Honest Company, to name a few.
One of the most common complaints about Robinhood was an inability to reach someone with the company’s customer service team. Robinhood only introduced phone support in October of 2021, so it was common for people with complaints to be unable to reach anyone, according to the FTC documents we obtained. Robinhood is aware of the issue, the company told Gizmodo, and has worked to ameliorate it with a 24/7 hotline.
The company’s statement reads, “We are committed to being there for customers when they need us, which is why last year we introduced 24/7 phone support through the Robinhood app. Since 2020, when some of these complaints were filed, we’ve invested heavily in phone support, systems stability, and security processes. We’re committed to supporting our customers and offering a safe experience, and we’re confident that the steps we’ve taken over the past two years put us in a strong position to serve our growing customer base.”
Another recurring complaint involves people being unable to sell a given stock while its value tanked on the market. This issue, as you can imagine, is troubling because it prevents people from minimizing their losses.
In one complaint, the last on this list, someone who said they’re serving in the U.S. military at Guantanamo Bay, Cuba had their account locked over “suspicious” transactions from Cuba. The service member complained that it was “obviously” them, but you can understand how Robinhood would find stock trades coming from Cuba to be suspicious. Venmo had a similar problem with transactions that mentioned Cuba.
Again, we couldn’t independently verify the claims made by consumers to the FTC, but when taken in the aggregate, we believe they help provide a snapshot of common issues with Robinhood before it went public. Some of the complaints below have been lightly edited for spelling and readability.
“I understand the market can be volatile, but this was Robinhood refusing to honor trades of people who purchased the stock legitimately.”
On May 26th I purchased a stock (invvy) when I noticed it climbing the charts. Within 30 minutes of purchase, during trading hours, invvy peaked at $40 a share and at that time Robinhood decided they no longer wanted to support that stock. By making that decision, they blocked traders who purchased in good faith from selling their shares of the stock. During this blackout period, invvy stock started dropping dramatically while users were left holding stock they couldn’t sell. When Robinhood finally allowed the sale of the stock, it had fallen from $40 a share down to $16.00, and I was forced to sell at a loss. Even during the blackout period I tried to do a stop loss sale for $36.00 a share, and Robinhood rejected my sale. As an investor the difference between my rejected sale and when i was finally allowed to sell was $900 (+600 to -300). I contacted customer service twice and have received nothing in 2 weeks, not even a “we are looking into this”. I understand the market can be volatile, but this was Robinhood refusing to honor trades of people who purchased the stock legitimately. I don’t think a company in the middle of day trading can just decide they don’t want to honor stock trades that they were honoring an hour ago, to prevent investors from making money. Since Robinhood has given no response to customer service emails, or tweets, or anything regarding this issue, I have to assume that Robinhood could do this in the future to any other stock they don’t want to pay out.
They took my deposit and restricted my account in every way. I cant buy, I sell, I can’t transfer the money out either. they basically told me that i owe them the money which is complete non sense. I never borrowed anything. They are robbing me.
I can’t sell anything on Robinhood. I have a long position of BTC but when I try to sell any quantity, I get the error “You do not have permission to perform this action.” I have contacted Robinhood 3 times but despite them saying they will respond in 1-3 business days, they have not. This is my money on the line so it’s very alarming they are being unresponsive and have such a blatant issue with their platform.
I had my paycheck direct deposited into Robinhoods new cash management account. Just like a regular bank get paid use debit card, well I got paid last Friday June 12, 2020 and have not been able to use my debit card withdrawal funds or transfer any money to my other banks. I have missed my car payment, dentist appointment, I owed $252.00 and got declined. Totally embarrassing to say the least, plus my other bills are due. My money is in there they haven’t stolen it. I am just not able to use it.
Robinhood has disabled my account from withdrawing money to my bank. I have $1,446.95 settled withdrawal (cash) in my brokerage account and I haven’t been able to withdraw it for a for weeks. I have tried contacting them multiple times over the same period and they haven’t responded once. My account has been verified and able to withdrawal cash into my bank but when I do it say error account withdrawal disabled, why am I unable to withdraw my money now? I want my account unlocked so I can withdraw my money.
“Robinhood’s support team is using this pandemic as an excuse to be lazy and careless with their clients.”
Robinhood is a financial services company that offers a mobile app and website where people can invest in stocks, ETFs, and options. I currently have an account with them, however on Thursday June 11th, 2020, the app logged me out without my doing. I tried to log back in, however they requested a Two-Factor Authorization code, or an Emergency Back-Up code. Unfortunately, my account was attached to my old phone number, and I’ve had the account for such a long time that I do not recall them providing me an Emergency Back-Up code. I sent a message to Robinhood’s support team that same day on June 11th, 2020 at 8:42PM, case number: [redacted] They sent me an automated update to my email stating that they received my message, however they stated “our response time to you may be delayed. With the coronavirus outbreak, COVID-19, we’ve had to modify how we operate because the health and safety of our team and customers is our first priority.”
I waited a day, and was surprised that they still have not responded back to me, so I sent another message to them on Friday, June 12, 2020 at 8:30AM, case number: [redacted]. On Sunday, June 14, 2020 I still did not receive a single response from Robinhood’s support team. I started to become irritated and worried because I have over $2,000 invested with them. I sent another message to their support team at 11:20 AM, case number: [redacted]. On Tuesday, June 16th, 2020 I became tired of their games and sent a message to their support team again, stating that if they did not respond to any of my cases, I will file a complaint to the BBB. Today is Friday, June 19th, 2020 and now I am writing to you. I have been contacting several different companies for support during this pandemic, and I haven’t had any single issue with their support teams. Robinhood’s support team is using this pandemic as an excuse to be lazy and careless with their clients. I doubt at this point they even HAVE a customer service team. As a Robinhood user, I find this extremely unfair and unethical because now I have no way to access my investments on Robinhood. This is my money that we are talking about, and I want access to my money. Robinhood clearly does not hold up to its said “values” regarding simplicity and holding their product to the highest standard. I have emailed this company several times within the past week, yet no answer or response has been provided to me.
“The hacker used my bank account information to drain my entire checking account meanwhile Robinhood does nothing.”
I reported fraud/hacking of my Robinhood account on the 2nd of June. I have been back and forth with Robinhood’s support center, meanwhile a hacker has drained thousands of dollars from my portfolio. I have sent over 10 emails, verified my identity, and jumped through every hoop they put me through. They didn’t freeze my account. They didn’t assist in changing my password instead they would send me a guide on how to change my password myself. Unfortunately the hacker changed the email associated with my Robinhood account and my password so I could no longer access my account. Robinhood support center takes days to reply to emails and has still not done anything to assist me in anyway. The hacker used my bank account information to drain my entire checking account meanwhile Robinhood does nothing. I have done everything I can to try and save my portfolio and not lose every dollar I have earned and saved, but Robinhood will not help.
All of my money is secured in Robinhood. I use Robinhood as my bank because they solicited me via digital marketing for cash management services. I agreed. This is my brokerage account. Approximately 3 weeks ago I messaged Robinhood about a charge on my MasterCard. I didn’t recognize the charges. I messaged them back 2 days later to state I found the charges and the issue was resolved. Robinhood restricted my account. I haven’t been able to access any of my money for almost 3 weeks. I can’t use my MasterCard. I can’t withdraw to my bank. I have emailed Robinhood at least 15 to 20 times. I always get the same automated response containing language about COVID 19 and basically saying they will be in touch. I have called the listed phone number for the business and it’s am automated recording stating that I need to go to the website or app and do the same thing I’ve already been doing. I started messaging Robinhood support on Twitter. Still no resolution. I am a poor man. The total of my savings in Robinhood is only about $2,000. It’s literally the only money I have. Last week because I can’t access my money in Robinhood I had to overdraft my bank account. This week my phone will be shut off and I won’t be able to afford food. It’s been 3 weeks. I’ve never once been able to actually get a human generated email or phone call. I’m not going to make it without access to my money. Someone please help me. I have documents to support all is the statements within and would be happy to provide the multitude of emails, tweets, and phone records to verify. Again, I’m begging. Please take the restriction off my account. Respond. Help. I am going behind on my bills and unable to buy groceries. It’s been weeks.... I can’t make it another week.
“My portfolio has suffered major losses that would not have occurred if my account wasn’t restricted...”
Robinhood LLC. restricted my account. I could not sell or trade my stocks. In the process of closing my account my portfolio has suffered major losses that would not have occurred if my account wasn’t restricted and I was allowed to sell when I needed to. In stock trading timing is critical. 5 to 7 business days for a response and my portfolio will be significantly damaged. No phone number to call. No explanation for restriction.
I opened an account with E*TRADE which is a legitimate company and no problem at all. They deducted the money from my bank account immediately to pay for stock and I bought the stock and sold it. I thought Robinhood was the same thing. I gave them all my bank account information and thought they immediately deducted money for stock that I bought a week later. I had no idea that they hadn’t already taken the money out of my bank account before I bought the stock as every other company does. I never heard of anyone “lending” money for a stock. I assumed when I bought the stock the money had already cleared my account. So a week later when I got what I thought was a new charge for $50 after I bought and sold the stock I tried to contact the company to reversed the charge with the bank thinking it was a mistake, but they have no phone number. So I reversed the charge thinking it was a double bill. Before I did that I tried to call the company but they have no phone number. I then closed my account. Now they want to charge me a nine dollar reversal fee even though they kept all the profit from the stock I sold and the “free” stock they gave me. They also are charging a monthly fee that was never disclosed. This company is a big scam. And if there is a problem there’s not even a phone number to call. If I was able to get someone on the phone when I first had the problem and they explained it to me all of this would not have happened. I only want to be made whole. I got no profit from any transactions and only want to keep my original $50 without them charging me a nine dollar penalty for something that could’ve been avoided if they had customer service and clear conditions when you download the app.
“When their app fails to trigger my set sells, I cannot successfully sell at the peaks and buy in the dips.”
I have repeatedly set limit sell orders to trigger sells when BTC reaches my target numbers. However, Robinhood repeatedly fails to execute these limit sells. I have complained before and recieved a basic “it’s not our fault response”. However, these failures are costing me money. Today $370 and I’m sure it will be more by midnight. When their app fails to trigger my set sells, I cannot successfully sell at the peaks and buy in the dips. I have asked for reimbursement, but unfortunately I will probably receive another “It’s not our fault email”.... If I even received any response at all. I am posting this here to see if a good-faith effort is made to make me whole and fix this issue. If not, I will be posting the screenshots and videos I have (proof of the failed triggers) in the trader group (150k members) and contacting an attorney.
“My account is frozen and they are only allowing me to sell more stock to cover fictitious margin call request”
I believe Robinhood to be manipulating security, falsely reporting margin calls and creating opportunities to increase yield returns by not allowing me to pay off the margin balance immediately through the Robinhood app. I am receiving margin call request to sell or deposit stock. I have sold more than $8,000 worth of stock or options to cover the texts and emails I receive daily. My account is frozen and they are only allowing me to sell more stock to cover fictitious margin call request. I have lost more than $5,700 and their staff has stated that the funds are pending. Unfortunately, it has been 3 days and the sell of Zoom stock has not materialized like the other stock sold.
I have been with Robinhood for over 2 years with no issue. My account became locked because they stated that a third party had tried to access it. Fine, I appreciate this feature. The problem is when I have attempted to resolve this issue and contact customer service, the phone number they provide simply tells me to email them. I email customer service and nothing. No response, and no way for me to regain access to my account. It has been a week, I have emailed them multiple times with absolutely no response. This is ridiculous, I could be losing money based on their severe lack of anything resembling customer service. I used to tell people to use Robinhood because I believed it was a good service which I will no longer do. This lack of customer service is irresponsible for the people who use it and needs to be fixed. I would like some form of customer service to contact me so I can access my account again.
I recently sold stock from My Robinhood account and have available funds to transfer. When I to withdraw it from Robinhood back into my checking. No matter what I do, I get the message “Error Account Withdrawals Disabled”. I have contacted them through email and there is no way to contact them by phone. This is highly irregular and is a borderline SEC issue. I want my funds returned to me at best or a phone call with a very good explanation as to why this is happening. Either way, I want my money back.
“I’ve continued to email on May 17th, May 20th, May 21st, May 27th, June 5th, Jun 16th and June 18th...”
I noticed fraudulent charges in my trade account with Robinhood, and I contacted them immediately. Someone had gotten access to my account, sold all of my stocks, and transferred all the funds out. I first notified Robinhood of this on May 12th via email. They have no number for me to call. Aside from asking what transactions were fraudulent and for me to proivde ID they have not responded to me since. I’ve continued to email on May 17th, May 20th, May 21st, May 27th, June 5th, Jun 16th and June 18th but have no received any response other than an automated responses on May 27th saying thanking me for providing the information (which was provided on May 17th). I contacted their Twitter account on May 21st as well asking for a number to call, but have been told they do not have any help line and that they would escalate my case.
I made a $3,000 deposit and they are refusing to give me access to money. I can’t withdraw it or do anything with it. That $3,000 is the money I put into the account and not what I made trading with their app. They took my money and will not either give it back, give me access.
My invested money is being held hostage due to a computer glitch with Robinhood occurring May 20, 2020. I made a Limit Sell Order for 6,515 shares of a stock on May 20, 2020. That order was rejected and canceled by Robinhood immediately but those 6,515 shares were not returned to me to be able to sell when needed. They are showing as being purchased in my portfolio but not showing as being able to sell. So should this particular stock plunge, I’m unable to sell those stocks because I can’t access them. This would be an easy fix for RH to correct the computer glitch that has frozen those stocks but I can’t get anywhere with their support team with repeated emails. The phone support service only reroutes you to email. I did create a Twitter account to message their support team that way but same as email, only generic responses are sent back, that they are delayed due to high volume. I need help!!! Could you please help me resolve this issue.
I have been trying to withdraw my money from Robinhood Financial but when I try to transfer funds from my Robinhood account to my back it says that withdrawal has been disabled. I have been waiting for 2 weeks for support to help but they have not. I want all my money transferred to my bank account and then my issue will be resolved.
I recently attempted to trade securities from a financial services brokerage firm, Robinhood Financial, LLC. I made several recent deposits and several deposits prior in good faith to Robinhood to trade securities. There are many inherent components built into the structure of Robinhood’s operations that indicate fraud, negligence, and misrepresentation of its services is occurring. Robinhood, when its trading platform is operational would allow securities to be purchased, however when it came to selling those securities, many times the Robinhood app would be completely inaccessible and unavailable. I was not even able to access or view cash, securities, and other property supposedly in Robinhood’s control, furthermore it was impossible to buy, sell, or trade securities. Robinhood, when its trading platform is operational would allow securities to be purchased, however when it came to selling those securities, many times the Robinhood app would be completely inaccessible and unavailable. Robinhood’s platform would be inaccessible for hours or days at a time and would not show securities recently bought as part of the holdings, so it was unable to sell them, and the securities purchased were never delivered in any usable sense. Robinhood effectively stole the funds supposed to be allocated to the securities. Robinhood not only did not have a backup system but they also refuse to communicate with their clients over the phone, and do not respond to emails about the matter. Robinhood purposely is unreachable by phone and they have no backup system in place such as live telephone agents to call in order to execute trades or have funds transferred. Through false advertising and misrepresentation of services Robinhood enticed customers to relay vast amounts of personal and financial information in exchange for being set-up on a rigged platform that drives investor losses through its defects and malfunctions. Robinhood’s application and services are advertised and disguised as a reliable investing platform when, in reality, the design and built-in defects of their infrastructure and platform allow Robinhood to profit when their customers lose. Orders routinely do not execute, equities and options will disappear from your portfolio, and normal features like the ability to replace pending orders does not exist on Robinhood’s platform.
Robinhood took a little over $2,400 out of my account with no explanation. I have sent multiple emails over the last 2 weeks asking why this happened, with no response except for a few automated emails.
“Robinhood holds our money without letting us putting the money back into our own bank account, which is a form of theft.”
I opened a Robinhood account a few months ago and invested approximately $500 to sell and trade stocks. I recently sold some stocks and made $222.59 in which I wanted to withdraw from my Robinhood account to put into my bank account. However, I keep getting an error message saying “Account withdrawal disabled”. I have tried to contact the company 2 times via email since they only provide customer service through email and not in any other type of communication, and it has been 5 without a response. I took some time to research online if others were experiencing the same thing, I’ve seen several posts from other people on social media that they have experienced the same issue where Robinhood doesn’t let us customers, withdraw money from our Robinhood account to put into our bank account, Robinhood holds our money without letting us putting the money back into our own bank account, which is a form of theft. I have video and photo evidence, as well as statements of each failed withdraw attempt and email evidence as well. Please help me with this issue, I would like to get my money from my Robinhood account but Robinhood keeps ignoring my emails.
A number of times now Robinhood’s site has been down and it’s costing me $$$. Today they were down and i was unable to take my profit of $3000. They will not own up to their mistakes. Again not the first time, but hopefully today and this complaint are the last. I want what is rightfully mine.
Robinhood app allowed scammers to spend money on a debit card I never received or used. These scammers made purchases in Brazil with Brazilian merchants, a country I never been before. I lost around $700, overdrafting the account and now Robinhood claims I am borrowing from margin for these fraudulent claims. Robinhood has no customer service to speak of and if you report these fraudulent charges, all you will get is a stock response in your e-mail claiming they will respond in some unknown time later. They have no phone number to call to confirm whether someone is even monitoring their fraud system. To return my money and address fraudulent charges in a timely manner, don’t just let them sit while your customers suffer. Especially now where many US citizens are suffering economically due to the pandemic.
This has been ongoing since early March 2020 when I started to know money missing from my account. However, more recent was the incident that transpired around May 26, 2020. I believe Robinhood is manipulating security, falsely reporting margin calls and creating the opportunity to increase yied return by not allowing the clients to pay off their current margin balance through the Robinhood app. I sent several emails asking to payoff my balance. However, I started getting notification that I had a margin call. I sold more than $8,000 worth of stock or options and the margin call was never paid. Around May 27, 2020, I sold ZM stock for $2,500, then the funds disappeared. The next day, I had another margin call and the balance in my account as -$1.07. The more stock I sold the more the funds vanished from my account. My account is frozen throughout the week and it takes Robinhood staff 4 or more days to reply with a standard email that does not address any of my concerns or problems.
I recently opened an account with Robinhood.com investing. They widely advertise a feature of ‘Fractional Shares’ being able to be purchased as well a dividend reinvestment. Neither of these is actually true. They instead ‘waitlist people’ and then don’t give specific answers to inquiries on either topic although I’ve tried multiple times. Isn’t there some way to remedy as bait and switch – or false advertising? There are currently over a million people waitlisted.
I attempted to open an account 3 months ago and was denied with an email stating that I already had an account. I had never attempted to open an account so I contacted customer service and was provided with an email address that they said was registered to my information. The email address provided has never been my email and was suspicious in nature. I immediately filed a fraud complaint. I have been waiting for three months for any update and resolution. I have reached out multiple times and keep getting generic responses to keep waiting. I have requested to be contacted via phone and was told they cannot do that. Someone is using my personal information fraudulently. This is extremely concerning to me and I believe three months is plenty of time for an update at the very least.
I have my account restricted and can’t get a hold of anyone to help me with my account, just an email that says they will respond in 3 business days which they don’t and their phone does not work. I have almost $6,000 invested in this company and no word back for me to retrieve the money.
On June 9th someone accessed my Robinhood stock acct and I lost access to my acct. Ive been dealing with Robinhood for 3 weeks through email as there is no way to contact them by phone. I finally have access to my acct again and the hacker sold all my stocks and somehow was able to withdraw around $8,000 from my acct. I cannot get Robinhood to fix this. Now when i try to withdraw my money it wont let me cause it tells me they can only put back into bank money came from. Well that’s a lie because they let someone else take money into another account. I have a lot of proof to prove this. So basically the hacker has stolen $8,000 and Robinhood isn’t handling the situation or even responding promptly.
I had $119,132.25 in my Robinhood account on May 28. On May 29th I authorized a transfer of $50,000 to my linked bank. Later, on the same day I opened a new account with TD Ameritrade and authorized them to move the remaining $69,132.25 from Robinhood to TD Ameritrade. Right now, my Robinhood account says it is restricted. I have messaged them through their “Contact Support” link on the website and received no response. Today, I attempted to move the remaining $69,132.25 out of Robinhood and into my bank account and received a system message that my account is deactivated. This does not make any sense as I did not deactivate my account. I wish to move my funds out of Robhindood. I would like the remaining $69,132.25 transferred away from Robinhood to my account with TD Ameritrade. And, I would like a response from customer support indicating this is underway and an ETA by which this will be completed.
Unable to withdraw my available funds, there is no customer service at all. They have a number that sends you online then emails a bot. I have $2,600.00 I am unable to access, perhaps this is a police complaint?
On the week of March 2nd, 2020, Robinhood experienced three different outages that prevented its users to perform any trading. During this time, I suffered massive losses to my portfolio almost totaling 40%. I entered a trade with the intention to sell, when I tried to sell at its peak, Robinhood was down for the entire day, and I was stuck in this trade and ended up losing money as I couldn’t sell until after a massive selloff. Additionally, I attempted to execute a sell for a separate stock before its earnings report the following day, and I could not execute the sell as RH was down. By the time RH was functioning again, that stock was not worth as much and I wanted to hold at that point. I tried to cancel the sell so I didn’t take a loss, and I couldn’t I reached out to RH support to try to cancel the sale, they never got back to me and the sale was executed at a loss. This happened to me AGAIN when Robinhood was down the following day on Tuesday. I jumped through the hoops I needed to get the provisional credit that they promised their customers, I didn’t even expect a credit anywhere near what my actual losses were. They JUST got back to me, refused ANY credit, and when I asked why they would not explain. They simply “apologized” for my losses and said that’s all they can do. This is totally unacceptable. They had THREE outages that cost myself and several others money. Their lack of attempting to amend this situation in any way is atrocious. You’re a brokerage company, when other companies cost customers a loss, they pay for it. I want Robinhood to provide my account with a provisional credit totaling at least 50% of my realized losses due to their outages.
May 22,2020 I opened an account with Robinhood Financial LLC for the purpose of buy shares of AAL (American Airlines) stock. This was a success. The problem occurred when I lost access to my account . All attempts to gain access failed, even while corresponding with Robinhood. A week or so of validating who I am I gained access to my account, or what they wanted me to believe was my account. It wasn’t! This was a new account that was delinquent of my 1st an only investment. I continued to communicate with them via email requesting to speak to a representative as this correspondence was not helpful. It had become clear the this issue was a matter of FRAUD that seemed to be internal. Had I not screenshot the initial AAL purchase there would be no proof from the Robinhood platform other than my bank statement. Please help me hold these looters accountable.
Robinhood has effectively stolen my money. I originally deposited ~$30,000 several months ago. As I am trying to withdraw my balance, they have locked down my account and refused any response to my inquiries. For over two weeks, I have sent daily emails. They do not provide a phone number for customer support, only email. Currently, they only provide automated responses stating to respond within 24-48 hours. However, since May 21st (today is June 6th), they have not responded to anything. Starting Monday, I will be contacting legal support.
I deposited $1,000 into my account on Mar 5 and then again on Mar 17. I now have a remaining balance in my account of $468.41. On Mar 18 I had a failed deposit of $4,000 and on Mar 24 I had a failed deposit of $7,000. I never had access to these funds and they never effected my account balance.When I try to withdrawal my balance of $468.41, the system does not allow me to do so. When I reached out to support they told me I had to redeposit the $11,000 to then withdrawal the $11,468.41 total. This is completely unnecessary as the attempted deposits were never made available to me and they never cleared my account. It appears Robinhood is trying to hold a lot of people’s money if they have a failed deposit which seems not only unethical but illegal.
My wife sent me a link from Robinhood, it said if I sign up, she would get a free stock and I would get a free stock. I signed up, and she did not get her free stock. When I sent an email to inquire about why I got my free stock and she didn’t, they then said I needed to link my bank account to my account. Their program does not say that is a requirement and the only way to link an account it to transfer money into the Robinhood site. Something I am not willing to do yet. I signed up as required by their advertising, and now they changed the rules and have cheated my wife out of her free stock.
I have contacted Robinhood over 20 times in the last two weeks for the same issue, and every single time I am met with a 3-4 day delayed response that never addresses my issues. I have deposited over 500 dollars into my Robinhood account, and my account reflected close to 200 percent increase in my financial portfolio about a week and a half ago. Because of this, I tossed more money into the account but they didn’t pull the money in the timeframe they said they would, instead they pulled it early, causing a reverse transfer. This restricted my instant deposits for about 4 days, but I followed the rules they stated and I sold a number of stocks to make up the delta of reversal off of my additional earnings I made the day before. They did not re-enable my account, took my earnings, and kept my account locked for instant deposits for the whole week, even though I did not buy any stocks with the deposited amount that was reversed... Therefore they stole 260 dollars of earnings after the reversal, even though the funds were not used. Then last Friday, the platform showed after hours marketing upon exchange opening and I had stocks that were about to be purchased and sold that were setup the night before. Robinhood matrix data crashed, showed no graphical data, only showed afterhours marketing at 10am EST and I was unable to sell off a stock that was dropping quickly due to the fact it was showing after hours trading. I lost close to 400 because of that stunt, and caused me to buy stocks at much higher valuations and caused me not to be able to cancel any transfers that were made. My account is now disabled from allowing any withdraws even though it says I have the ability to withdraw my funds back to my account. It gives me an error and says only the original account can be withdrawn too, even though it IS the account is was transferred from originally. On the final complaint, they are showing only 380 dollars in my account total, which is unreal and very, very wrong. There should be close to 1000.00 dollars in the account. And I sti have not heard from a single soul. They have no listed phone number and when dealing with financial futures and options and stocks, you need to be able to have immediate support. How on earth can you have a stock exchange without being able to get custom support or have explanations. They have screwed me out of 1000s of dollars since I restarted the platform last year and I would like an investigation done on behalf of their banking practices, infrastructure coding that fails frequently, their poor excuse for any support means, and a very uncaring manner of how money is manipulated and people are ripped off. they are making money off of people by not explaining the full scope of any financial penalties, nor have I been expressly told I was being financially penalized. They also told me I used their margin buying ability, but my margin has ALWAYS been turned off because I don’t trade with I want a full investigation into my account and the finances that were transferred to find out what they did with my money. They already had “found money” floating around in the ether last week of about 160 dollars. I know they are lying. I want a cost breakdown of where my money was used, fees, and have them create a mandatory phone support for the platform. They are dealing with millions of dollars without telephone or immediate support of any kind. Finally I want my account reinstated, penalties, if given, I want removed, and I want my account to be listed as good standing with the ability to withdraw my funds back to my account.
I purchased 26 shares of Groupon through this app in April and never sold those shares yet today when I went on the app I have only 1 share. I don’t understand how an app that’s supposed to be for trading for people with little money and they steal from the poor!
We opened a Robinhood account on May 31 and transferred $100 from my bank to that account. I access Robinhood through an app on my phone. I tried to log in on June 10 and could not (I think I entered my pin incorrectly). When I tried to log in the next day with the correct credentials the system kept telling me I have to complete my log in to create an account. It is as if my original account does not exist. I don’t want to create a new account - I just want access to my old one and my money. I have contacted Robinhood support and only get standard responses which could even be robotic. There is no phone number for customer support. I found two numbers on the internet but when I call them a recording says to log in to your account for support and the call is hung up.
I have $10,000 of my own money on Robinhood. When I attempt to pull money out of my account I get an error message. This has been occurring for almost 2 weeks now. I have reached out to their support team on multiple occasions with no response. At this point they are holding my funds hostage. I have fully identified myself with drivers license, passport, and banking pdf statements. I would like to have total access to my money. I want them to respond to me by fixing the withdrawal error.
I’ve been trying to withdraw money out of my Robinhood account to my bank account because I’m going through a hardship. The funds show that it’s cash available to be withdrawn. I just want my money. It keeps saying “error: account withdrawal disabled” I’ve contacted customer service. I haven’t heard anything from them. You don’t just have a website that’s all about money and no customer service! I want my $2,085.96!!!!!!! I just want my money in my account! I’m going through a tough time and this poor customer service isn’t helping! I want my $2,085.96.
I have been trying to withdrawal my money from Robinhood back to my banking account, and it says “Account Withdrawal Disabled”. I have contacted their team with about 4 different emails and 3 request of their website, and have contacted the Twitter “Robinhood Help” page. It has been going on 3 months and still have not had any response from their customer service, and still an unable to pull the withdrawable amount of money that it says I have. I cannot find the answer to get my money back from anything online nor can I contact anybody to help me from Robinhood. I just want to be able to get my money back from Robinhood. I want to be able to make withdrawals from my account. That is all.
I have a trading account with Robinhood. As of June 18th their app hasn’t been working well. I placed orders to be sold at market price for profit. At time of request, the company’s app either reacts too slow to execute order or the company straight out manipulates the platform to benefit them. The app keeps writing that due to high traffic I can’t see alerts. From nowhere towards the end of the day today the app showed that I had over $4,500 then about 2 minutes later it turned to below $3,500. I had submitted NKLA order today to be sold and the company didn’t sell. I sent several messages and all I got were auto generated messages. After my final message which I included that I will contact BBB. Robinhood cancelled my order I believe around 1618 and claimed that they weren’t able to sell to close.
They have taken my money but restrict me from using their services even though I’ve done nothing wrong. My money is stuck and I’m losing more money. I have been restricted from making purchases since June 26, 2020. My money is frozen.
Bought 20 shares of a stock (TOP SHIPS) the stock split .. increased a lot. Checked my profits ... my 20 shares vanished without me selling or transferring to a broker. I complained got email with case [redacted]... with no other explanation or return of stocks and profit. Shortly after filing complaint got error message while looking up stock, not supported on Robinhood. Checked again... stock went from 10 cent a share to $ 1.36 a share. The company stole my stock and profit. I checked all my transactions .. I only buy never completed a sale. Never transferred any stock to broker. It’s theft and the company Robinhood stole my 1st real profits.
“Robinhood locked me out of my brokerage account stating there was ‘suspicious’ logins from Cuba...”
Due to being deployed at Naval Station Guantanamo Bay, Cuba, Robinhood locked me out of my brokerage account stating there was “suspicious” logins from Cuba which was obviously me. I emailed Robinhood 4 times and contacted their support team on Twitter but they haven’t done anything to resolve the issue since June 2nd. In the meantime I have no access to any of my stocks or investments which is losing me money as the days go by.