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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

    • 2,223 total complaints in the last 3 years.
    • 1,126 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:08/17/2022

      Type:Sales and Advertising 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.
      There were multiple unauthorized transactions and trades made on a robinhood account that I opened over a year and has been sitting idle since then. I contacted them and informed them about how I returned from a vacation with family where I had no access to my email or phone. Then upon returning j found these insanely large deposits initiated, as well as trades bought and only a few sold. Leaving the account with a negative balance. They acknowledged (robinhood) of the likelihood of fraud. Told me they would reverse the charges an restore my account to its previous status. I contacted my bank and informed them. Their investigation turned up that it was in fact fraud and they returned the deposit that actually went through. ******************* said they would handle their end. Now months later I jus try logged jnto my account because I wanted to invest and Im locked out and its showing me owing over $3k. Im not sure why they have me owing abythubg when I never traded or anything. I have not received $3k

      Business Response

      Date: 08/17/2022

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 08/17/2022

       
      Complaint: 17727376

      I am rejecting this response because: first of all as i said to your customer service workewrs when i first called, just like you acknowledged in your response. None of those transfersand or trades were mine and they also could not be mine.  My family and i were away out of the country, so far off the grid we couldnt use gps, we had to use paper maps, never mind cell service to funsd accounts and make trades.  thats what i told your coworkerxs it weas physically impossible for me to have done those. the fact that you are still askung me to pay margin deficit on those trades is awful.  I have a family of five, and you are asking me ot cover frasudulent activity. Shame on you.  Again im asking that you return my account to a zero balance and a cash account as it were. And you refund my 1,000$ that i never received back after the investigatiom was deemed fraud.Please I ask the bbb to take into considferation that ******** is asking me to pay moneyu for lost trqades that i necver ordered and they also never refunded the $1000 deposit that my bank account actually had to cover and about $400 in overdraft fees that accumulated the time we were on vacation.  

      ***********************-bo

    • Initial Complaint

      Date:08/16/2022

      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.
      Need help!!!!!!!! I put over ***** in my robinhood account transferred from an external account that did not have my name on the account. my whole plan was to accrue interest in my robinhood account while it sits. I have all rights to my money which was a saving I had in my girlfriend account that I wanted to transfer into my robinhood. Long story short robinhood restricting my account and will not let me withdraw, spend, or transfer my money back to the external account. I've called a billion times to customer support no is helping me. They either hang ** in my face, put me on hold for 3hr *** then say they have to move on to the next person or get an automated email The remediation team goes through the remediation process and reaches back after their review is complete. **This takes a little time and we cant say a specific date at this time. 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**. its been over a month and a half nothing is being done. im literally in the dark.

      Business Response

      Date: 08/17/2022

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:08/16/2022

      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 Financial LLC Promised to protect my information by making sure my account is fully verified before allowing access to my brokerage account. After getting my drivers license over a month ago the company never requested this information. Therefore, was out of compliance while allowing me to withdraw Thousands of dollars. In addition, after filing a few disputes with two different merchants, the merchants verified the chargebacks and ******************* insisted that Id be patient while they continue investigation. After the 10 days I was told would be needed in order to fulfill a provisional credit, ******************* financial allowed me to send emails without any further communication from the dates and times provide via email as an automatic response . Not only did I get charged for the use of margin, I was also rejected requested phone calls through the app and Mislead to open a spending account as a substitute for the account previously provided with a cash card ending in ****. I did not get informed about the closure of this account until I requested after multiple attempts to speak with a representative. Finally, After requesting information to identify the entity with the department of state, I was denied further discussion by multiple representatives via phone call.

      Business Response

      Date: 08/17/2022

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:08/16/2022

      Type:Delivery 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 traded 5 Tesla ****** for $923.19, but I received only $3508.15 , regulatory fee is $0.11, they took from my account $1107.80, when I called them ,they do not want to talk to me about this issue Please help

      Business Response

      Date: 08/18/2022

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:08/13/2022

      Type:Order 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.
      After reporting unauthorized activity on my Robinhood account, my account had a restriction placed on it. The unauthorized activity was found in my favor and I was asked to send in my drivers license, ssn card and bank statements. Then I learned my account was restricted until I send in loan documents of which I no longer have. The loan has been settled more than a year ago and has only become an issue after I requested to have my account looked into further for unauthorized activity. They refuse to disclose any further information for me to be able to provide any additional information and this is all by the disrespectful representative named *****! Then they refuse to say where my money will go other than back to its source? Its source was transferred from my bank account which is no longer open. I demanded a manager handle this and still have not received any call back. The loan was over a year ago and they expect me to remember when they acted late.

      Business Response

      Date: 08/22/2022

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 08/24/2022

       
      Complaint: 17713848

      I am rejecting this response because they fail to specifically mention what it is that I am referring to or what is going to be done going forward. No solution is being offered. 

      Sincerely,

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

    • Initial Complaint

      Date:08/11/2022

      Type:Sales and Advertising 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.
      Today on 8/10/2022 I was trading on Robinhood, I placed a same day expiration option trade around 5 minutes before 9:00 HST and it went down to over a $7,000 loss I didnt sell and planned to hold the trade for a while longer because I had conviction the trade would succeed but I noticed that my trades were sold .3 cents above the lowerst price the option went to during that time frame confirming a $7,000 loss and I couldnt rebuy the trade because it was a little after 9:00 the trade then went up to break even and eventually past my purchase price for a potential $10,000 profit on the trade if I wasnt forced a sell that I had no control over. I contacted support for my issue and found out there is a option sellout process that they automatically sell your contracts from 9:00- 10:00 at option market close. I hade no knowledge of this at all and was never prompted that this hidden feature existed. If I knew this feature existed I would have never entered the trade in the first place, they had no empathy for my situation and was shunned away to a scrip response via email. I am extremely worried and frustrated. If they cared about warning people, I would think there would be pop up alerts of something so crucial- the same way they have pop up alert on day trading below ****** balance. I feel cheated and robbed. I dont want to imagine a world where this is ok.

      Business Response

      Date: 08/12/2022

      Please see attached correspondence that was sent to the customer. 

    • Initial Complaint

      Date:08/10/2022

      Type:Order 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 app disabled my ability to withdrawal funds from my brokerage account. From the thousands of customer experiences that are similar to mine I believe the app along with the customer service is designed to send you in circles indefinitely so that you can never withdrawal your money. Depositing money into this app was very easy but withdrawing it is made impossible.

      Business Response

      Date: 08/11/2022

      Please see attached correspondence that was sent to the customer. 

    • Initial Complaint

      Date:08/09/2022

      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.
      Robinhood has $631.99 of my money after a stock sale. They are forcing me to jump through several ridiculous hoops just to get money that is mine. They refused to work with my bank so I opened an account with a bank they will work with just so they could tell me I need a bank statement. Obviously when you open a new bank account there's no bank statement for about a month. So now I'm being made to wait an inordinate amount of time just to get money that is mine. I've supplied them with account numbers and routing numbers which should be only thing they need to do a transfer. I also asked if I could be sent a check or money order, but was given no answer. This money is mine and I'm in desperate need of it. I'm scared that both myself and my cat will run out of staples soon. Thank You

      Business Response

      Date: 08/10/2022

      Please see attached correspondence.

    • Initial Complaint

      Date:08/05/2022

      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 restrict my account due to its own system error, which falsely label one of my payment as unauthorized. I did my best to cooperate with Robinhood to submit all of required materials for multiple times and they didn’t explain to me the reason of it. After did all those required actions, they still procrastinate to lift my account restriction.

      Business Response

      Date: 08/10/2022

      Please see attached correspondence. 

      Customer Answer

      Date: 08/10/2022



      Complaint: ********



      I am rejecting this response because:


      16 Days has passed, my account is still under restriction.  After I submit all required materials, they did not make any further updates on my case for about 8 days, and they refuse to tell me the reason. I did my best to cooperate with Robinhood, I would like to provide them with anything they need, I have shown them about my emergency, but they still procrastinate to resolve my issue. They just told me they are doing their best to resolve my issue, I highly suspect they aren't. In a few days ago, one of their customer service agent told me their reviewing was nearly done, howeve they still cannot give me any updates on their investigation by far. 

      This restriction was triggered after I tried to use my Robinhood debit card on a CVS store, and Robinhood falsely label that payment as unauthorized. I contact with customer service immediately after that restriction and submitted all required materials without any hesitation. This restriction is really unreasonable and brings me a lot trouble. If Robinhood cannot lift this restriction within this week. I will request Robinhood to compensate my lost during this period of time.

      sincerely 


      **** ****

    • Initial Complaint

      Date:08/05/2022

      Type:Sales and Advertising 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 had restricted my account because I want to withdraw my money back to my bank.
      They had placed a restriction on my Robinhood account to trade or withdrawal.
      They request me to send my bank statement, driver license, SS card from me and I had provided them all.
      I have try to reach out to them but I can never get someone to talk to.
      It has been more than 3 weeks now.

      Business Response

      Date: 08/10/2022

      Please see attached correspondence.

    Robinhood is NOT a BBB Accredited Business.

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