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Business Profile

Financial Services

Robinhood

Headquarters

This business is NOT BBB Accredited.

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This business has 2 alerts

Complaints

This profile includes complaints for Robinhood's headquarters and its corporate-owned locations. To view all corporate locations, see

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    Customer Complaints Summary

    • 2,232 total complaints in the last 3 years.
    • 1,131 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:01/14/2023

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      They suspended access to my account. I provided my drivers license photo, a selfie of me 2 bank statements to prove I am actually me. I was supposed to have an answer by *** 12th. *** contacted them several times since and no response. I simply want to be able to withdraw the small amount of money I have left in the account and close the account.

      Business Response

      Date: 01/26/2023

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 01/27/2023

       
      Complaint: 18812090

      I am rejecting this response because: you are not trying to help. Just keep the funds. Why would you need a copy of a bank account thet I havent used in years? Its just an excuse to keep the account hostage. robinhood is no more than financial terrorists. I cant wait for the day the justice department closes this scam company down and saves people from your company 

      Sincerely,

      ***************************

    • Initial Complaint

      Date:01/13/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Robinhood have instant deposits. Theres a limit of $1000 but there is no limit how many times I can use it. They lock my account because I use the instant deposit multiples. I submitted my documents to verify its me and I spoke with multiple agent who also verify its me and they still wont unrestricted my account. I could have made so much money this week if they didnt restrict my account. Its has been a week. All because I use the feature they provide for customers. I cant transfer my funds to my bank card with them either o cant close my account I cant do nothing beside sell everything and even that wont do much because I cant access my funds.

      Business Response

      Date: 01/19/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:01/12/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      This fraud Company sold my ************************************ ***** without my permission and losen me $ *******. I bought those stocks for more than $ **** but they sold my 233 stocks for $ ***** total of $ ******. In my stock account there is only some of $ 400 negative balance where anytime it comes to positive because that time market was open and they gave me many chance when my account got $ **** or more negative balance and they informed me to deposit funds and until than I can't buy any stocks and than I deposits funds in my account.But one day when I was not on my computer they showed themselves that my account has a negative $ 400 and if I didn't deposit any funds in my account then they sold my stocks. They think me computer as I am seeing stocks every 24 hours. That time I was not on the computer and not seeing the market report they sold my stocks themselves and make benefits themselves and I lose $ *******. They didn't do this with me they did this with **** or more people. I have proof that I got a many times negative balance but they never sold any of my stocks only they informed me at the end of the market that I can deposit money in my account until then I can't buy any stock from them. I receive many times margin calls but they didn't sell my any stocks but this time they did big fraud with me.On July 2021 Robinhood is fined $70 million over misleading customers and system outages. Robinhood Financial, the online stock-trading app, was fined $70 million by the securities industrys self-regulator on Wednesday for a series of failures that the agency said hurt Robinhoods customers.The announcement came ahead of Robinhood filing an investment prospectus to go public, which is likely to land later this week, a person with knowledge of the matter said. Last year, a 31-year-old customer died by suicide after discovering a negative $730,000 balance in his Robinhood account. This is a fraud Company that was made by *********************, and *******************, the founders of Robinhood, in 2016

      Business Response

      Date: 01/21/2023

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 01/21/2023

       
      Complaint: 18727775

      I am rejecting this response because:

      Robinhood is fined $70 million over misleading customers and system outages.


      ***********************************************************************************************************************************************


      I can't paste all of them Better Business Bureau can see how fraud Robinhood is who did fraud not with me they did with many customers and fines $ 70 million not $ ***** or $ ******. So Robinhood did fraud with me also and that I describe in BBB statement that what they did. So I want now my money back from Robinhood not stock because that was stock and stock goes up and down every second and I loose so much money because Robinhood has my stock, and that was stock not item if Robinhood return my stock means also I loose my money because from many days they have my stock as money and I didn't receive my money in my account. So I want my all money back which I spend in that stock or I sued Robinhood as they was sued previously, and BBB can see in there record that how many peoples reported BBB that how fraud Robinhood is.

      Sincerely,

      **********

    • Initial Complaint

      Date:01/12/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I transferred my assets over to Robinhood from M1 finance. It took several days but I was able to finally access my funds once they had settled, or so I thought. I attempted to make a transfer into my Robinhood spending account, and the transfer failed. After that I was restricted from buying crypto, transferring within Robinhood accounts or to external accounts, or doing literally anything at all. I couldnt even deactivate my own account and withdrawal funds. Finally after 8 days customer service finally instructs me to submit a photo of my drivers license, a pdf document of a bank statement from the bank connected to my Robinhood account, and a video selfie. I submitted all three promptly. Mind you this is $4,756 worth of uninvested money. Finally after another week I get this email today stating, Thank you for your patience. Following a review of your account, we have made the decision to deactivate your Robinhood account. We reserve the right to this as part of our terms and conditions which you can read about more here. Funds that are eligible for withdrawal will be available to you after our remediation process occurs. We will reach you out again letting you know how and when you can withdraw your remaining balance. Please note that any funds that continue to arrive into your Robinhood account will be automatically rejected and sent back to the sender. If for any reason you do need to get in touch, feel free to reach out to me or our support team. Apologies for any frustration or inconvenience caused. Sincerely,*******. LIKE WHAT??!? I want my money back, now, this is literally insane I did everything they asked. This is so upsetting ** lost for words s

      Business Response

      Date: 01/19/2023

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 01/19/2023

       
      Complaint: 18726812

      I am rejecting this response because:
      Theyre closing my account and refusing to return any of my money, and THIS is their response: 

      Thank you for your continued patience with this matter while we reviewed your account. 

      Unfortunately, we have made the decision to close your Robinhood account. We reserve the right to this as part of our terms and conditions which you can read about here. 

       

      We are unable to verify the legitimacy of the remaining funds on your account. Therefore, no money remains to be returned to you.

       

       If for any reason you do need to get in touch, feel free to reach out our support team.

       

      Apologies for any frustration or inconvenience caused.

       

      Sincerely,

      Robinhood Support 


      IS THIS REALLY HAPPENING? How can they do this. Im not satisfied. So they pocket money while I am out literally everything I had been giving to by my dad that he held onto for years for me?!? 


      Sincerely,

      ***********************

      Business Response

      Date: 01/21/2023

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 01/23/2023

       
      Complaint: 18726812

      I am rejecting this response because:
      Robinhood has only replied with the exact same response stating,  Hi ******,
       

      Thanks for your patience while I worked to respond to your email. My name is *** and I manage escalations here at Robinhood. Your case was forwarded to me for further review.
       

      Unfortunately, we have made the decision to close your Robinhood account. We reserve the right to this as part of our terms and conditions which you can read about here. 

       

      We are unable to verify the legitimacy of the remaining funds on your account. Therefore, no money remains to be returned to you.

       

       If for any reason you do need to get in touch, feel free to reach out our support team.

       

      Apologies for any frustration or inconvenience caused.

       

      Sincerely,

      Dan 

      This is their response after I requested their reasoning for why they feel the money isnt legitimate and how they can possibly do this. Im in tears. 

      Sincerely,

      ***********************

    • Initial Complaint

      Date:01/11/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I was a victim of fraud someone used my identity and did not have my permission. I never used Robinhood or invested with them. They send me information about my account and say they don't have my current email. I have tried in the past to contact them, but I cannot find a telephone number, email address where I can talk or correspond with anyone at Robinhood. Please help me make contact with this broker firm or organization.

      Business Response

      Date: 01/21/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:01/11/2023

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have not been able to log into my account for many months despite following all the instructions given to me. Attempts at scheduling an appointment on phone or in-person has been impossible because an account number is required. The only way to see/check the account number is online, **************************************** and I have not been able to log into my account. Please, help me as I have no way of getting in touch with this organization.Thank you

      Business Response

      Date: 01/17/2023

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 01/21/2023

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

      Sincerely,

      *************************

    • Initial Complaint

      Date:01/11/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have been trying to withdraw my funds for over a month now from this brokerage, and they keep telling me that my account is restricted for security reasons. I can't get any specific reasons from any one and have tried emailing, calling and on line chats with just a runaround of answers.********************* Case # ******** They keep telling me it could take up to 4 weeks to unlock my account. I just need an explanation as to why my account was restricted in the first place.

      Business Response

      Date: 01/21/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:01/11/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Robinhood has restricted my account and refuse to release my funds of twenty thousand dollars.

      Business Response

      Date: 01/14/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:01/09/2023

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have been trying to Log in to my investment account portfolio on Robinhood and was unsuccessful. **************** has no working number and they seem to be giving me the run around. I need Customer support to contact me asap.

      Business Response

      Date: 01/18/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:01/09/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I attempted to close my Robinhood account in 2020, after they limited GameStop stock purchases for their own financial gain. Then in 2021, they reopened my account to reimburse me. I attempted to close my account and havent been successful. So I gave up because there was no way to contact anyone. In this time Ive lost access to my former email address as it hacked then shut down. Then Saturday (1/7), I receive a letter from Robinhood stating I will now be charged as of 1/5 for having less than $50. I cannot log in to the account to permanently close it, and there is NO one you can contact their number tells you to go to the app then it hangs up. Its false advertising that they have 24/7 service. The app just takes you to a new page with each inquiring, never allowing you to speak with anyone.

      Business Response

      Date: 01/10/2023

      Please see attached correspondence that was sent to the customer. 

    Robinhood is NOT a BBB Accredited Business.

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