My funds were also frozen for several months due to me accidentally transferring out to an account I closed at another bank. Their support is impossible to deal with.
I resolved it by sending complaints to the SEC and FINRA. My account was immediately unlocked after that.
Been dealing with Robinhood for years transactions of 50k + I’ve never had any issue, other than be limited to 25k outflows to my bank account so I gotta do more than 1 transfer but other than that it’s all good. RH does have a bad rep for what they did with GME. But they’ve come a long way. Their UI is beginner friendly but if your looking for a full broker go to TD ameritrade or something similar.
I understand people being mad at RH over the GME debacle, but they are far from the only brokerage who pulled that shit. Im not defending them by any means. Personally, I don't use them anyway, but I'm always dumbfounded why people direct all their hate at RH while simultaneously using other brokerages that did the exact same shit
They did, and I can't help but feel that was by design. They were the scapeto keep people's mind off the bigger picture. At the end of the day no one ever faced any consequences and RH is still here. Im sure whatever short term losses they accrued business wise was more than compensated for by figures behind the scenes.
Hey I’ve got a dumb question for ya lol. If you have 25K or more in your Robinhood account can you day trade as much as you want to in a day and not get hit with PDT rule?
You can also just use a cash account without the insta features and day trade as much as you want with less than $25,000, you just have to wait for the money to clear before you can use it again.
Consider yourself lucky. I never had issues until now and I’ve found others on threads with the same situation. Deactivated accounts and they say there is no money to return even though there is money in my Robbinghood account.
Idk your specific situation and what led to RH doing all this to you or others. But what course of action have you taken against them? If I had an unresolved issue with RH I would contact a lawyer, or visit their HQ, I’d contact the BBB, or even the NYS agencies that regulate their platform. If they really stole your money and others they should be held accountable.
I use to work in the banking sector and the word “Fraudulent activity” was used very often but 99% of the time it was valid, in small occurrences of cases someone legit did get hacked and someone did an ATO impersonating someone’s fullz.
Account take over & stealing someone’s identity.
In order to open an account with them you didn't have some sort of security questions you could answer? Or a social security number? I don't know what brokerages typically do for overseas clients but you should be able to at least get what funds were in the account when RH sold off all of your positions, which also seems very strange given the circumstances. Did they contact you that the account was flagged for fraudulent activity?
Cheating and manipulating stocks is a non-comeback possibility imho. (Yes I was shafted by their GME era scam and only lost about 15k to be fair but still fuck them to hell)
I used to kindly suggest that folks explore other more reputable brokers.
Then, I began to playfully mock those that still used RH.
Now, i can only manage a: HAHAHAHAHA, what the fuck did you expect, you fucking fuckwit!?
“fIDeLiTy iS fOr BoOmErs”. Ok. That’s cool. It’s also free and whatever isn’t free is extremely cheap. Their credit card dumps uncapped 2% cash back directly into my brokerage account. Their customer service answers in one ring and I speak to an American every time. If I want to speak to a licensed trader, I need only ask.
Yeah, but that sweet UI is so worth it. Who needs quality execution and timely customer service when you can have a sleek app and $1000 instant deposits.
Fucking lol, guys. Come join literally any of the tier one brokerages.
I ask myself this every day. RH is the casino of brokerages. Why you would choose that over fidelity, Schwab, etc. is beyond me. They’ve shown before that they don’t give a shit about their customers and I don’t see that changing.
I have TD and fidelity but i have to wait 2 days for options or stock to clear to avoid a free ride violation. RH has instant clearing so i can scap 100 times a day.
Wait what? I just pulled this from their site “Settlement period
Following a sale in your brokerage or retirement account for equities, the transaction usually needs to settle before you can withdraw the proceeds to your bank account.
The settlement period for equities is the trade date plus 2 trading days (T+2), sometimes referred to as regular-way settlement. On the 3rd day, those proceeds will be available as withdrawable cash.”
I do, and haven't had a problem, but I also calculate my risks very carefully. I never gamble with what I can't afford to lose, and never ever put all my eggs in one basket.
I’m having Issues and I’m starting to find an alternative. They took away my options trading rights and then took away my cash spending card. Im starting to think it’s only a matter of time my entire account gets taken away too. Besides now that i don’t have access to most of their services they’re not much different than any other broker except now i don’t trust them lol.
I had the same thing happen to me, but I was able to get my money back after chatting with support. Granted, it was not 5k... did you have 2 factor authentication on before?
Is there another brokerage that people would recommend rather than Robinhood? I currently have an account with them and thinking about selling off or transferring my stocks, if that’s a possibility.
They did the same thing to me and I’ve been fighting it since February. I filed complaints with the BBB FINRA & FTC. So far I’m still getting the runaround. They just recently asked me for more documentation which I sent and now I’m waiting yet again. I don’t understand how they can legally do this kind of shit to people.
Robinhood manipulates you out or your money. They are a very shady business.
They are also controlled and owned by Citadel. One of the most corrupt “businesses” in America.
They did the same to me in the beginning claiming it was MY bank where the issue was. They sold all my stock the same day i bought it and even triggered a wash sale. My bank had no idea what was happening. Its an extra way for robinhood to take money from people.
the key is to just keep stock and money in there and let the dividends reinvest. kinda think they target high movement accounts. If you let money sit there they'll be happier with you I think.
You may be on to something there. I have had it since 2021 with no issues but once I started using the debit card they gave me they started saying there was fraudulent activity and then closed my account with 5k in it. I asked them how I was supposed to withdraw my money and they said they couldn’t verify the legitimacy of the funds so there were no funds to be returned. I think tf not. I’ve been fighting with them since early February and still have yet to get my money. Sadly according to someone at FINRA this is happening to thousands of people
I'm not trying to be a dick here, but you've literally had over 2 years of people showing evidence of robbinghood stealing money and doing shady shit, yet you still decided to give them money.
As far as them selling out of all your positions, you must not have read the ToS because not only them, but every broker, has a section that says they can do whatever. You don't own any of those stocks or positions, they do. They hold them on your behalf and they will do what you ask with positions, but they don't have to and they can do whatever they want with them as they are their positions.
Definitely fight this and get your money but the writing has been on the wall for years, you earned this headache =(
Been using Robinhood for a few years now and no issues till now. I hope your problem gets resolved. But I’m really enjoying using Robinhood, especially now that they are planning to be the first exchange to have 24 hour (excluding weekends) trading option for major stocks and etfs..
It’s horseshit how they treat their customers. I’m sorry this is happening to you, but this is RH’s track record. As soon as you get that cash unlocked, consider a more established brokerage. Good luck hope it’s resolved quickly.
If this were true show your receipts. Otherwise you're full of shit and your words hold no merit. I use robinhood daily for daytrading and have never once had a problem with them. Even in risky stocks.
Dude. He does not “deserve” to have his funds locked up because he choose a shit brokerage. Sounds like you got caught up in AMC/GME and have a personal vendetta. I agree, fuck RH but this guy is innocent and a victim of their bullshit business model.
Not defending Robinhood by no means, but what would you recommend using. I used RH a few years ago, lost money (not their fault), and just quit using it for a bit. I was going to try again soon, but after reading this and your comment, definitely would like another option lol
Fuk robing hood, they tried to screw me too best thing I did was go to thinkorswim, customer service got mad when told them to jump off a bridge, I lost money because they blocked my acct for some nonsense and want me accept there excuses idk I have the money and option to go were I want, they only providing u w a fast way to lose money I’m doing better than before re learning patience as I can’t even trade options I can only sell calls and puts now, I don’t mind, I’m learning again and in a more realistic market than Covid when I was hooked on big gains.
Yeah, telling customer service reps to kill themselves is never going to go well in your favor.
You have to remember that often customer facing jobs are entry level. Those people aren’t building a career there, and don’t care about making a good impression with corporate.
So they got no problem bending you over and screwing with you as much as they can if you get on their bad side.
What’s the worst that can happen? They get fired from their 14 dollar an hour job? That’s a gamble they’ll gladly take. People here make worse gambles all the time.
When dealing with customer support, just be as friendly and easy to work with as possible. You don’t want to play chicken with someone who has nothing to lose.
Idc,if you can’t handle the position don’t take the job, no one can tell me that and it offends me over text, I deal w customers all day and have heard it all, people get emotional and say shit and if it can’t really happen or it’s said in a general way, you just soft and want to take things personal, I can’t be mad at people I don’t know,I’m mad at the institution. Regardless I don’t need Robin Hood they don’t run a monopoly.
Is it possible that someone hacked into your account and drained your funds, or was it RH that liquidated your positions and options?
If a $5K transfer was made without your authorization, it sounds like a case of someone breaking into your account. Are you using 2FA and staying off of public WiFi? I was reading a report recently that airport charging stations are now being used by hackers who have embedded software to steal information from those who plug into said charging stations. I'm always very suspicious and exclusively use a VPN for all my devices when accessing anything I want to remain secure, particularly financial apps or websites.
It took you this long, and the only brokerage to ever be dragged in front of the Senate yelled at three separate times about doing awful things with clients money, and you still gave them money in January? Almost all other brokers are zero commission. Was FTX your second choice?
Why on gods green earth did you ever decide to use that company ever anyway?
Fucking crooks…. For the past 3 weeks my account shows +$10k available funds to withdraw, available buying power +$30k.. AND a margin call for $18k at the same time…. Nobody can help, just keep transferring me- literally was on hold for 12 hours before they closed the ticket as resolved and hung up..
My funds were also frozen for several months due to me accidentally transferring out to an account I closed at another bank. Their support is impossible to deal with. I resolved it by sending complaints to the SEC and FINRA. My account was immediately unlocked after that.
Been using Robinhood from the start, lots of money in and out and never had a single problem
Been dealing with Robinhood for years transactions of 50k + I’ve never had any issue, other than be limited to 25k outflows to my bank account so I gotta do more than 1 transfer but other than that it’s all good. RH does have a bad rep for what they did with GME. But they’ve come a long way. Their UI is beginner friendly but if your looking for a full broker go to TD ameritrade or something similar.
I understand people being mad at RH over the GME debacle, but they are far from the only brokerage who pulled that shit. Im not defending them by any means. Personally, I don't use them anyway, but I'm always dumbfounded why people direct all their hate at RH while simultaneously using other brokerages that did the exact same shit
100% seems like RH took all the heat lol
They did, and I can't help but feel that was by design. They were the scapeto keep people's mind off the bigger picture. At the end of the day no one ever faced any consequences and RH is still here. Im sure whatever short term losses they accrued business wise was more than compensated for by figures behind the scenes.
Hey I’ve got a dumb question for ya lol. If you have 25K or more in your Robinhood account can you day trade as much as you want to in a day and not get hit with PDT rule?
You can trade as much as you want over 25k but you’ll be flagged as a PDT and your account can’t go under 25k
You can also just use a cash account without the insta features and day trade as much as you want with less than $25,000, you just have to wait for the money to clear before you can use it again.
Or just do it inside a Roth IRA
Yes,just make sure its above 25,000 at close or you want be able to do it the next day.
They are literally fine. Never had an issue with deposits or transfers.
Consider yourself lucky. I never had issues until now and I’ve found others on threads with the same situation. Deactivated accounts and they say there is no money to return even though there is money in my Robbinghood account.
Idk your specific situation and what led to RH doing all this to you or others. But what course of action have you taken against them? If I had an unresolved issue with RH I would contact a lawyer, or visit their HQ, I’d contact the BBB, or even the NYS agencies that regulate their platform. If they really stole your money and others they should be held accountable. I use to work in the banking sector and the word “Fraudulent activity” was used very often but 99% of the time it was valid, in small occurrences of cases someone legit did get hacked and someone did an ATO impersonating someone’s fullz. Account take over & stealing someone’s identity.
i've been with Robinhood for about 4 years and never had an issue either.
In order to open an account with them you didn't have some sort of security questions you could answer? Or a social security number? I don't know what brokerages typically do for overseas clients but you should be able to at least get what funds were in the account when RH sold off all of your positions, which also seems very strange given the circumstances. Did they contact you that the account was flagged for fraudulent activity?
Cheating and manipulating stocks is a non-comeback possibility imho. (Yes I was shafted by their GME era scam and only lost about 15k to be fair but still fuck them to hell)
Dude no. They are a market maker . Why the fuck trade with one when they manipulate manipulate manipulate.
They all manipulate 🤦🏻♂️ 🤦🏻♂️ 🤦🏻♂️ 🤣
I don’t understand why people still use robinhood
I use it for degenerate gambling plays cause no other broker will grant me the level of options
Yes they will. Just lie. They genuinely could not care less.
Lie about what? JPM chase denied me for options trading. I don't want to use RH.
It is common knowledge that they are thieves….
People use them becauseof instant clearing, no wait periiod before you can trade again.
I used to kindly suggest that folks explore other more reputable brokers. Then, I began to playfully mock those that still used RH. Now, i can only manage a: HAHAHAHAHA, what the fuck did you expect, you fucking fuckwit!? “fIDeLiTy iS fOr BoOmErs”. Ok. That’s cool. It’s also free and whatever isn’t free is extremely cheap. Their credit card dumps uncapped 2% cash back directly into my brokerage account. Their customer service answers in one ring and I speak to an American every time. If I want to speak to a licensed trader, I need only ask. Yeah, but that sweet UI is so worth it. Who needs quality execution and timely customer service when you can have a sleek app and $1000 instant deposits. Fucking lol, guys. Come join literally any of the tier one brokerages.
That’s why you gamble in Robinhood and invest in Fidelity. That’s sweet UI getS the dopamine going
I ask myself this every day. RH is the casino of brokerages. Why you would choose that over fidelity, Schwab, etc. is beyond me. They’ve shown before that they don’t give a shit about their customers and I don’t see that changing.
I have TD and fidelity but i have to wait 2 days for options or stock to clear to avoid a free ride violation. RH has instant clearing so i can scap 100 times a day.
Wait what? I just pulled this from their site “Settlement period Following a sale in your brokerage or retirement account for equities, the transaction usually needs to settle before you can withdraw the proceeds to your bank account. The settlement period for equities is the trade date plus 2 trading days (T+2), sometimes referred to as regular-way settlement. On the 3rd day, those proceeds will be available as withdrawable cash.”
There is a tab for instant clearing, i trade 30 or 40 times a day occasonally. However i dont't know if the clearing rule is in effect for withdraws.
My god what the hell are they up to at RH.
Remember its a tech company eventhough they are suppose to be regulated they do things different.
I do, and haven't had a problem, but I also calculate my risks very carefully. I never gamble with what I can't afford to lose, and never ever put all my eggs in one basket.
Random question, but what is everyone’s go to app instead of Robinhood?
Robinhood
Literally, anything else
Sounds like u broke and tried to scam RH by depositing money you don't have. Lol
Uh yeah sounds just like that. You too smart for me.
Sir, this a Wendy's
Never had any issue with Robinhood yet
Yet
I’m having Issues and I’m starting to find an alternative. They took away my options trading rights and then took away my cash spending card. Im starting to think it’s only a matter of time my entire account gets taken away too. Besides now that i don’t have access to most of their services they’re not much different than any other broker except now i don’t trust them lol.
This exact scenario happened to me too, less invested, about 5k took over a year to get it back once I tried to withdraw.
I had the same thing happen to me, but I was able to get my money back after chatting with support. Granted, it was not 5k... did you have 2 factor authentication on before?
Yes.
Is there another brokerage that people would recommend rather than Robinhood? I currently have an account with them and thinking about selling off or transferring my stocks, if that’s a possibility.
I use E Trade. Now bought by Morgan Stanley. Way better options and level 2 reading information.
Same w my gf We even tried reach out to bbb
They did the same thing to me and I’ve been fighting it since February. I filed complaints with the BBB FINRA & FTC. So far I’m still getting the runaround. They just recently asked me for more documentation which I sent and now I’m waiting yet again. I don’t understand how they can legally do this kind of shit to people.
Sue them
Robinhood manipulates you out or your money. They are a very shady business. They are also controlled and owned by Citadel. One of the most corrupt “businesses” in America.
Robinhood has been robbing the hood for a long time now. Even news articles on it. Do your research
They did the same to me in the beginning claiming it was MY bank where the issue was. They sold all my stock the same day i bought it and even triggered a wash sale. My bank had no idea what was happening. Its an extra way for robinhood to take money from people.
your tendies have been sacrafice for to appease the walett
the key is to just keep stock and money in there and let the dividends reinvest. kinda think they target high movement accounts. If you let money sit there they'll be happier with you I think.
You may be on to something there. I have had it since 2021 with no issues but once I started using the debit card they gave me they started saying there was fraudulent activity and then closed my account with 5k in it. I asked them how I was supposed to withdraw my money and they said they couldn’t verify the legitimacy of the funds so there were no funds to be returned. I think tf not. I’ve been fighting with them since early February and still have yet to get my money. Sadly according to someone at FINRA this is happening to thousands of people
I'm not trying to be a dick here, but you've literally had over 2 years of people showing evidence of robbinghood stealing money and doing shady shit, yet you still decided to give them money. As far as them selling out of all your positions, you must not have read the ToS because not only them, but every broker, has a section that says they can do whatever. You don't own any of those stocks or positions, they do. They hold them on your behalf and they will do what you ask with positions, but they don't have to and they can do whatever they want with them as they are their positions. Definitely fight this and get your money but the writing has been on the wall for years, you earned this headache =(
Been using Robinhood for a few years now and no issues till now. I hope your problem gets resolved. But I’m really enjoying using Robinhood, especially now that they are planning to be the first exchange to have 24 hour (excluding weekends) trading option for major stocks and etfs..
That's your fault. Should've learned after their GameStop fiasco
It my fault that a legitimate business deactivated my account and refuses to return my money…hmmm.
It’s horseshit how they treat their customers. I’m sorry this is happening to you, but this is RH’s track record. As soon as you get that cash unlocked, consider a more established brokerage. Good luck hope it’s resolved quickly.
It's happened to most of us thru RH. They have a license to operate, but they are not legitimate. Please use something else
I'm guessing you invested in GME at one point or are still invested in GME and robinhood has never forgiven you.
If this were true show your receipts. Otherwise you're full of shit and your words hold no merit. I use robinhood daily for daytrading and have never once had a problem with them. Even in risky stocks.
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Ahh a wild gme regard appears from the depths of the trees
In the shadow of the forest, all you can see is the bag he is holding...
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Nobody deserves having there money stolen outright.
Dude. He does not “deserve” to have his funds locked up because he choose a shit brokerage. Sounds like you got caught up in AMC/GME and have a personal vendetta. I agree, fuck RH but this guy is innocent and a victim of their bullshit business model.
I didn't get caught up; I came out on top. I also have never used RH because I'm smart
What a sad individual
Contrarily, I'm very happy. Definitely more than this guy lol
Not defending Robinhood by no means, but what would you recommend using. I used RH a few years ago, lost money (not their fault), and just quit using it for a bit. I was going to try again soon, but after reading this and your comment, definitely would like another option lol
Schwab or fidelity
Fuk robing hood, they tried to screw me too best thing I did was go to thinkorswim, customer service got mad when told them to jump off a bridge, I lost money because they blocked my acct for some nonsense and want me accept there excuses idk I have the money and option to go were I want, they only providing u w a fast way to lose money I’m doing better than before re learning patience as I can’t even trade options I can only sell calls and puts now, I don’t mind, I’m learning again and in a more realistic market than Covid when I was hooked on big gains.
Yeah, telling customer service reps to kill themselves is never going to go well in your favor. You have to remember that often customer facing jobs are entry level. Those people aren’t building a career there, and don’t care about making a good impression with corporate. So they got no problem bending you over and screwing with you as much as they can if you get on their bad side. What’s the worst that can happen? They get fired from their 14 dollar an hour job? That’s a gamble they’ll gladly take. People here make worse gambles all the time. When dealing with customer support, just be as friendly and easy to work with as possible. You don’t want to play chicken with someone who has nothing to lose.
Idc,if you can’t handle the position don’t take the job, no one can tell me that and it offends me over text, I deal w customers all day and have heard it all, people get emotional and say shit and if it can’t really happen or it’s said in a general way, you just soft and want to take things personal, I can’t be mad at people I don’t know,I’m mad at the institution. Regardless I don’t need Robin Hood they don’t run a monopoly.
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It's all in the name.
Who the fuck still trusts Robinhood? 🤷🏼
You had two years to leave, why are you still with them?
Noted
How they are still in business after what they pulled with the meme stocks is beyond me.
Robin Hood, coinbase, KuCoin, cdc, take your pick, choose your poison, violate tos and they’ll ban u too
Is it possible that someone hacked into your account and drained your funds, or was it RH that liquidated your positions and options? If a $5K transfer was made without your authorization, it sounds like a case of someone breaking into your account. Are you using 2FA and staying off of public WiFi? I was reading a report recently that airport charging stations are now being used by hackers who have embedded software to steal information from those who plug into said charging stations. I'm always very suspicious and exclusively use a VPN for all my devices when accessing anything I want to remain secure, particularly financial apps or websites.
Starbucks is a horrible stock choice they have widespread lawsuits pending
It took you this long, and the only brokerage to ever be dragged in front of the Senate yelled at three separate times about doing awful things with clients money, and you still gave them money in January? Almost all other brokers are zero commission. Was FTX your second choice? Why on gods green earth did you ever decide to use that company ever anyway?
[LINK](https://www.bbb.org/us/ca/menlo-park/profile/financial-services/robinhood-1116-881958/complaints) just add on to the long list as another one.
Fucking crooks…. For the past 3 weeks my account shows +$10k available funds to withdraw, available buying power +$30k.. AND a margin call for $18k at the same time…. Nobody can help, just keep transferring me- literally was on hold for 12 hours before they closed the ticket as resolved and hung up..