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Robinhood Financial

85 Willow Rd, Menlo Park, California, United States, 94025-3656

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Robinhood Financial Reviews (%countItem)

customer service said they would reach out within 1-3 business days. That was 1 week and several complaints ago. They do not have a over-the-phone contact that is working. When you call the number they have posted, it just says to submit an email. this companies negligence cost me $6000, and they have not said a word about it. They will not let my money go, and transfer it back to my bank. They are holding it hostage, and have not said a word.

Robinhood Financial Response • Mar 23, 2020

Please see attached letter that was sent to the customer.

As soon as I signed up, I began receiving multiple phishing emails, text messages, and telemarketer calls within 5 minutes. BEWARE. I cannot verify the validity of their "trading", however, they are absolutely selling your information to risky buyers that desire to scam you. It's best just to avoid signing up.

Robinhood Financial Response • Mar 19, 2020

Thank you for bringing this matter to our attention and please accept our sincere apology for any inconvenience this matter may have caused you. At Robinhood, we pride ourselves in customer satisfaction. We would like to let you know that we take customer feedback very seriously and we are always striving to improve our services. Our staff diligently looked into your concerns. Please see below for more details.
Robinhood does not sell its customers’ information. A review of your account shows that we haven’t received any communication from you regarding your concerns around potential spam messages. Please feel free to reach out to us at [email protected] with specific information regarding this so we can confirm if it is communication coming from us.
We apologize for any inconvenience this process may have caused you. We very much appreciate your business and certainly understand that there is always room to improve our services. If there are any other issues that need to be addressed, now or in the future, please do not hesitate to contact us at [email protected].
Sincerely,
Robinhood Compliance

I declined to work with Robinhood. I didn’t like the difficulties in contacting, the non contacting, the bad reviews I see. I did not even complete the application process. After numerous attempts, finally got an answer back saying since I didn't complete the application, I didn’t have to do anything. I am more concerned about robinhood not deleting my records. They say they take security seriously yet any system can be hacked. They even won’t let you unsubscribe from the emails. Not the mark of a good company. Let it be known by this in case my records get hacked and used inappropriately that I had asked my records be expunged and they refused

Robinhood Financial Response • Mar 23, 2020

Thank you for bringing this matter to our attention and please accept our sincere apology for any inconvenience this matter may have caused you. At Robinhood, we pride ourselves in customer satisfaction. We would like to let you know that we take customer feedback very seriously and we are always striving to improve our services. Our staff diligently looked into your concerns. Please see below for more details.
We can confirm that you did not complete your application therefore, you do not have an account. Robinhood is a regulated entity and we are required to maintain certain books and records for a period of time. We can assure you that your information is safe and will not be shared.
We apologize for any inconvenience this process may have caused you. We very much appreciate your business and certainly understand that there is always room to improve our services. If there are any other issues that need to be addressed, now or in the future, please do not hesitate to contact us at [email protected].
Sincerely,
Robinhood Compliance

Robinhood had an outage last week to where I was not able to sell my call options. I was notified they would be doing case by case on refunds dure to outage however I have received no refund, no responses to any emails other than automated messages that do not apply. I do not have a clue what is happening to my claim or if it's even open anymore. They have no way to contact by phone so I can't even communicate with anyone.

Robinhood Financial Response • Mar 25, 2020

Please see attached letter that was sent to the customer.

Robinhood has performed very poorly as a stock broker. On 3/2/2020 its servers were down not allowing trades or transfers into or out of their company. on 03/09/2020 their servers were down in the beginning hours. There was no indication that the app was down at this point, as trading had stopped on the stock market due to a trip in one of the circuit breakers. During this period I placed an order to sell *** stocks at current trading market value of $27.10; however once trading resumed my order continued to show as pending. I tried to cancel the transaction and it only gave me an error message saying it could not cancel the order so that I could re initiate it. My funds were completely locked up for the remainder of the trading day and only became available on 03/10/2020 at which point I sold the 400 shares at $25.12 a difference of ˜$792 that I lost because they locked my funds and wouldn't allow me to cancel my order or trade. I reached out for help, but they were not able to help that day.

Robinhood Financial Response • Mar 25, 2020

Please see attached letter that was sent to the customer. Thanks!

I have available funds in my Robinhood account and for months I have been trying to withdrawal it from Robinhood back into my checking. No matter what I do, I get the message "Error Account Withdrawals Disabled". I have tried everything! I just want my money back.

Robinhood Financial Response • Mar 27, 2020

Please see the attached letter that was sent to the customer. Thanks!

Created an account a few weeks ago. They double withdrew from my bank account causing my bank to deny and charge me an NSF fee. They then limited my account, charged me a $9 fee, and wouldn't apply to my account the first withdrawal that didgo through until I complained that it hasn't been applied when it cleared my bank 4 days prior. They made me do another deposit to remove the limitations on my account. I sold stock to bring my balance up and that wasn't good enough they wanted to wait for the next bank account deposit to clear.
All in all it left a sour taste in my mouth. A business that can't do an app right where it double charges you, then have support being unhelpful when you have thousands of dollars invested with them is poor business.
I sold my stock at a loss and will be closing my account. Don't trust them with your money, especially since you cannot even call them.

Customer Response • Mar 09, 2020

Also they had outages last week and said my paid membership would be extended. They didn't extend it per the email I received.

I am not able sell my open positions with a market sell order since 8:45am this morning on 3/9/2020. A market sell order should be almost instantaneous, but it's locking me out of selling anything for more than an hour and a half. I've sent multiple emails to customer service with no response. I can't sell my positions and the market is hitting circuit breakers.

One week ago on 3/2/2020 Robinhood was also down the entire day which affected my trading and potentially cost me $1000s.

Robinhood Financial Response • Mar 30, 2020

Please see attached response that was sent to the customer. Thanks!

Robinhood is showing wrong financial data to my account. I reached out their customer service in the past too and they had never fixed my account.

Because of wrong portfolio information its impacting my financial decisions. My overall portfolio value is more than 30k and it showing around 20k.

Being a financial company if they are not ready to fix my account data they should honor the difference.

Revdex.com team please help me to resolve this issue. Even company portal was down recently and when I tried contacting no one responded.

Back and forth lot of ongoing issues with company service.

I appreciate your help and cooperation and truly thank you to Revdex.com who help customers like me.

Robinhood Financial Response • Mar 19, 2020

Please see the attached letter that was sent to the customer.

Customer Response • Mar 24, 2020

Complaint: ***

I am rejecting this response because:

My application is already up to date and still showing wrong financial data. My Account is short of around 10,000 USD.

Sincerely

Robinhood Financial Response • Mar 30, 2020

Please reference your account statements.

Business has been dragging back-and-forth responses, refusing to process valid information / falsifying records, requesting re-uploads of IDs in order to create a false excuse to deactivate my account.
At first, Robinhood alleged that it can't properly verify me as the owner with valid information. then alleged alluded that I asked for "anti money laundering" legal advice.
Not sure whether it was really caring about security or it was just looking for anything to poke around to bother me with.

Robinhood Financial Response • Mar 18, 2020

Please see the attached letter sent to the customer

Customer Response • Mar 18, 2020

Complaint: ***

I am rejecting this response because:
Read my complaint again, that's because you made it look like I closed it myself.If you really wanted to handle those security well, you've read my previous emails carefully and resolve this matter already.Read my complaint and email again, you omitted all the details on how you kept asking the same questions and dance around answers.But I'm certain Revdex.com will close this case for you to help you not have to fabricate this further.
Sincerely

Robinhood Financial Response • Mar 19, 2020

If you think there has been fraudulent activity on the account and you did not close it then please contact our customer support and clearly state this so we may begin an investigation. Please mention that you made a Revdex.com complaint so the compliance department can coordinate with the appropriate team for the investigation. We're eager to help you resolve this issue but we need the proper information to do so. Thank you!

Customer Response • Mar 20, 2020

Complaint: ***

I am rejecting this response because:

I don't think what I say or think ever matters.

Do whatever you think you can get away with.

Sincerely

I've been a member of Robinhood for about a year and a half. I was kind of new to investing so I chose it because it was easy to use and free. I'm glad that they got me into it because I am now completely obsessed. Unfortunately I was locked into positions that began to lose money when I was unable to access my account all day Monday 03/02. Partly my fault, I understand the risks in this game but I should be able to control my assets when the market is open and they were positions that were very profitable until the turn of the market Monday morning.To my understanding the mobile app and desktop crashed because of a coding error due to leap day. The majority of users could not buy or sell ALL day Monday. Apparently this is the same issue they had 4 years ago on the same day. I lost about 4500 dollars by the end of the day Monday, (a lot of money to me) loses that undoubtedly would have been avoided if I was able to sell my positions. Which would have sold for a profit until late in the day. Also I would have had the ability to possibly get into a new position and maybe even make money on that day. Robinhood has had troubles with lawsuits and not doing what's best for it's customers in the past. I have lost all faith that Robinhood can be trusted with my money as should anyone considering to start investing. I'm disappointed in Robinhoods customer service who after 2 emails (their preferred method of contact) got tired of me asking questions and just decided to ignore me. After I researched their history and my mistrust started to blossom I began going over my statements and how they've actually handled my money. I have found multiple discrepancies that I'm still waiting on an explanation for...if I ever get one. My experience with Robinhood has left me filled with resentment and the feeling that I'm doing business with crooks. Find another broker.

Robinhood Financial Response • Mar 25, 2020

Thank you for bringing this matter to our attention and please accept our sincere apology for any inconvenience this matter may have caused you. At Robinhood, we pride ourselves in customer satisfaction. We would like to let you know that we take customer feedback very seriously and we are always striving to improve our services. Our staff diligently looked into your concerns. Please see below for more details.
On March 2, 2020, and for part of March 3, 2020, the Firm experienced outages during which customers were unable to access certain functionalities on our platform. Our team worked as quickly as possible to restore service, and our trading platform is currently fully restored and has been stable.
Our team is committed to improving the resilience of our infrastructure to meet the heightened load we have been experiencing. We are simultaneously working to reduce the interdependencies in our overall infrastructure, so that an issue affecting part of our system will have less than a system-wide impact. We’re also investing in additional redundancies in our infrastructure. We take this issue very seriously and are hard at work making sure we’re doing all we can to operate a stable service that’s available when you need it the most.
If you believe that your account or order(s) were affected by the outages we experienced on these dates, please complete the form that was emailed directly to you. Please note that if you have already submitted the form there’s no need for you to do anything further and you can only submit the form once, but you can select multiple orders and positions if needed.
We are very sorry for any inconvenience you may have experienced. We know this has been frustrating and we will work diligently to provide the level of service you deserve. Please let us know if you have any additional questions or concerns. We’re here to help.
We apologize for any inconvenience this process may have caused you. We very much appreciate your business and certainly understand that there is always room to improve our services. If there are any other issues that need to be addressed, now or in the future, please do not hesitate to contact us at [email protected].
Sincerely,
Robinhood Compliance

I had a little over $5,000 coming to one of my bank accounts. I thought I had that bank account linked to my Robinhood account that I was mistaken and didn't. My brother just passed away a few weeks ago I've had two friends died this week and my mother-in-law is in the hospital for and a half hours away admitted with pneumonia and a collapsed lung. As you can imagine my head's been everywhere and I just overlooked which account the money was going again I just assumed it was going into the correct bank account linked to my Robinhood account. So Robinhood offers up to a $5,000 instant deposit which is where they go ahead and fund your Robinhood account for any amount of money up to $5,000 while it's being transferred from your bank to them which takes 3 to 5 business days. But they only do that if you're a gold member which I am. So I went ahead and initiated the transfer believing that the money was going to be in my bank account linked to my Robinhood account and they credited my account the $5,000. I had money in the account already before this I just wanted to add that to it so I could invest more. So being that they had already gave me access to the money I purchased some stock. I made a few call options. And I made a few putt options. I turned that $5,000 into a round the sum of around $7,500. A couple days later they emailed me saying that my transactions were declined by my bank and there had been a transfer reversal and I was charged $30 for each reversal and a $9 reversal fee. Once I checked the account I realized what had happened. most people would have left that account at a negative balance being that Robinhood had taken everything in my account. And not only did they take what I had in spending value but they took every bit of it cutting my account into the negatives. I'm and a good person and I did this mistakenly. I would never borrow something that I thought that I couldn't pay back and I honestly believed that the money was going to the correct account but I was wrong I had not linked that bank to Robinhood like I thought I had. So like I said most people would have just left the account in the negatives and walked away but I'm not that kind of person I wanted to make it right. I immediately once I realized what had happened sold all of my stock sold all of my put options and all of my call options and not only bringing my account out of the negatives but putting it into the positives of $2,153. Remind you I had a little money in the account before I started this. It was an honest mistake and I contacted them and they want me to deposit the sum of $5,000 saying that I owe them that money. I've explained to them that I do not owe them that money because they took it from my account making my account negative and I exercised my options and sold my stock to cover the negative balance bringing my account into the positives. I have tried many times to reach out to them and until I suggested that I was going to take legal action and to report them to you they wouldn't respond. When they did respond they would just tell me that I owe them the $5,000 that I have already paid back to them as well as the $30 per transaction and the $9 for each reversal. My issue is not only that but they are restricting my account making it where I cannot buy any stock or by any options or withdraw my money. They are acting as though they are a bank and they are not a bank. They cannot put a hold on money that is rightfully mine. If they were licensed as a bank they could but they are not licensed as a bank which makes this illegal on their end. They credited me the money but I already had some in my account and they're acting as though I did this on purpose and treating me like a criminal. I've just had so much going on that I made an honest mistake I didn't realize I hadn't linked that account to my Robinhood account. After they took the $5,000 plus all the fees out of my Robinhood account it put my account way in the negatives and after selling my stock and all of my options the account is positive $2,153. I do have screenshots of transactions and I believe that not certain I may have one of the negative balance. But they are threatening 2 close my account if I don't pay them another$5,000. They are not helpful at all they do not have a customer support line all you can do is email them and hope that you get a response. I've emailed them many many many times and they've only written me back maybe twice.they are withholding my money like I said like a bank acting as though they are a bank but they are not licensed as a bank which makes what they are doing illegal. also they are offering margin money to people which is equal almost to the account balance of your portfolio which means that not only can you spend your cash balance but they will credit you the same amount so technically they are letting you spend money that you don't own and could chance putting their own self in the hole if one was to abuse that. Yes I made an honest mistake and I just want them to unrestrict my account giving me access to my $2,153 so that I may invest it I don't want to cash it out I want to invest it I want to leave it where it's at I would like to be able to withdraw a little bit if I wanted to but that's not my intentions I just want to invest and I like their app this is the only issues that I have come across but they are pretty serious issues because I have to pay taxes on all this money that is rightfully mine that they are not allowing me to access even after I pay back the total of $5,000 plus the $30 fees and the $9 fees and I'm just beyond upset and disappointed at this point that they could be so immoral. They act like people don't make mistakes. We are only human we all make mistakes. Monday March 2nd 2020 Robin Hood forgot to log leap year in their system meaning on Sunday March 1st everything works fine but come Monday morning March 2nd when the stock market opened their app was trying to pull data from March 3rd because they forgot to log February 29th into their system as a leap year. that was a major major mistake on their end costing some people thousands and thousands of dollars and yes it affected me as well. On that day I was not able to do any trades that I had planned on doing and I lost out because if I was able to make those transactions I would have made life changing money. Huge mistake on their end. But apparently it's not okay if someone else makes a mistake other than them.

Robinhood Financial Response • Mar 18, 2020

Please see attached letter that was sent to the customer.

The Robinhood App has no problem transferring money from my bank into the app but when I attempt to transfer money from the app to my bank they put a restriction on my account blocking said attempt. I contacted them a week ago and their response yesterday was I have to show ID. I already had forwarded my ID before this request was made to Robinhood. At this stage this is clearly an app holding my finances hostage.

Robinhood Financial Response • Mar 11, 2020

Please see the attached letter that was sent to the customer. Thanks!

Customer Response • Mar 13, 2020

Revdex.com:

I have reviewed the response made by the business in reference to complaint ID and find that this resolution is satisfactory to me; however I have a remainder of 26 dollars that I will cash out for today. After receiving the last of these funds, I'll be contented in this matter.

Sincerely

Robinhood has not responded to my complaint in 3 business days. They do not have a phone number and will only contact through email which is very difficult. They are not answering within their promised correspondence time and their website is not functional.

Robinhood Financial Response • Mar 14, 2020

Please see attached letter that was sent to the customer.

Would be better off giving my your money and letting me claim they are stocks...
Once you get in a position to finally sell the system goes down and wont let you. Then for the rest of the time the numbers are always off from the real market. Beware this game is pay to play!

Robinhood Financial Response • Mar 14, 2020

Thank you for bringing this matter to our attention and please accept our sincere apology for any inconvenience this matter may have caused you. At Robinhood, we pride ourselves in customer satisfaction. We would like to let you know that we take customer feedback very seriously and we are always striving to improve our services. Our staff diligently looked into your concerns. Please see below for more details.
On March 2, 2020, and for part of March 3, 2020, the Firm experienced outages during which customers were unable to access certain functionalities on our platform. Our team worked as quickly as possible to restore service, and our trading platform is currently fully restored and has been stable.
We now understand the cause of the outages was stress on our infrastructure—which struggled with unprecedented load. That in turn led to a “thundering herd” effect—triggering a failure of our DNS system. Multiple factors contributed to the unprecedented load that ultimately led to the outages. The factors included, among others, highly volatile and historic market conditions; record volume; and record account sign-ups.
Our team is committed to improving the resilience of our infrastructure to meet the heightened load we have been experiencing. We are simultaneously working to reduce the interdependencies in our overall infrastructure, so that an issue effecting part of our system will have less than a system-wide impact. We’re also investing in additional redundancies in our infrastructure. We take this issue very seriously and are hard at work making sure we’re doing all we can to operate a stable service that’s available when you need it the most.
We are very sorry for any inconvenience you may have experienced. We know this has been frustrating and we will work diligently to provide the level of service you deserve. Please let us know if you have any additional questions or concerns. We’re here to help.
Again, we apologize for any inconvenience this process may have caused you. We very much appreciate your business and certainly understand that there is always room to improve our services. If there are any other issues that need to be addressed, now or in the future, please do not hesitate to contact us at [email protected].
Sincerely,
Robinhood Compliance

The site crashed Monday and was not able to do anything with my stock . Crashed again Tuesday and now my account is locked . 2400$ of MY money is being held by Robinhood and I can’t get an answer through your “excellent “ customer service. Absolutely insane that as a verified company that you would be able to do that to people . That’s theft.

Robinhood Financial Response • Mar 14, 2020

Thank you for bringing this matter to our attention and please accept our sincere apology for any inconvenience this matter may have caused you. At Robinhood, we pride ourselves in customer satisfaction. We would like to let you know that we take customer feedback very seriously and we are always striving to improve our services. Our staff diligently looked into your concerns. Please see below for more details.
On March 2, 2020, and for part of March 3, 2020, the Firm experienced outages during which customers were unable to access certain functionalities on our platform. Our team worked as quickly as possible to restore service, and our trading platform is currently fully restored and has been stable.
We now understand the cause of the outages was stress on our infrastructure—which struggled with unprecedented load. That in turn led to a “thundering herd” effect—triggering a failure of our DNS system. Multiple factors contributed to the unprecedented load that ultimately led to the outages. The factors included, among others, highly volatile and historic market conditions; record volume; and record account sign-ups.
Our team is committed to improving the resilience of our infrastructure to meet the heightened load we have been experiencing. We are simultaneously working to reduce the interdependencies in our overall infrastructure, so that an issue effecting part of our system will have less than a system-wide impact. We’re also investing in additional redundancies in our infrastructure. We take this issue very seriously and are hard at work making sure we’re doing all we can to operate a stable service that’s available when you need it the most.
We are very sorry for any inconvenience you may have experienced. We know this has been frustrating and we will work diligently to provide the level of service you deserve. Please let us know if you have any additional questions or concerns. We’re here to help.
Again, we apologize for any inconvenience this process may have caused you. We very much appreciate your business and certainly understand that there is always room to improve our services. If there are any other issues that need to be addressed, now or in the future, please do not hesitate to contact us at [email protected].
Sincerely,
Robinhood Compliance

I opened an on line brokerage trading account on Thursday 27th February. I linked my bank account and put in a transfer to fund the account. Unfortunately, right after I did, I had an issue that needed to address. I tried to contact them to resolve the issue but they only operate by email in 1-2 day increments (no phone contact). This would be after the transfer so I desired that I no longer wanted to be a member of this trading platform and called my bank and stopped the transfer. They offered a fee stock for opening the account but I never sold it or accepted it. I never executed any trades and only want to close my account and just move on. Unfortunately, now they charged me a $9 fee for the stopped transfer and will not close the account until I send them a copy of my drivers license and bank statement and pay the $9 fee.
I only want to close the account and move on!

Robinhood Financial Response • Mar 12, 2020

Please see the attached letter that was sent to the customer

The app crashed on 3/2/2020 when the market rose 4.6%. Users were not able to buy/sell/trade. Crashed again on 3/3/2020 as soon as the market started going back up. This prevented me from locking in several thousand dollars in gains, made worse by the fact the market crashed last week, so I wasn't able to recover from the losses because Robinhood's app suffered an outage.

Robinhood Financial Response • Mar 25, 2020

Thank you for bringing this matter to our attention and please accept our sincere apology for any inconvenience this matter may have caused you. At Robinhood, we pride ourselves in customer satisfaction. We would like to let you know that we take customer feedback very seriously and we are always striving to improve our services. Our staff diligently looked into your concerns. Please see below for more details.
On March 2, 2020, and for part of March 3, 2020, the Firm experienced outages during which customers were unable to access certain functionalities on our platform. Our team worked as quickly as possible to restore service, and our trading platform is currently fully restored and has been stable.
Our team is committed to improving the resilience of our infrastructure to meet the heightened load we have been experiencing. We are simultaneously working to reduce the interdependencies in our overall infrastructure, so that an issue affecting part of our system will have less than a system-wide impact. We’re also investing in additional redundancies in our infrastructure. We take this issue very seriously and are hard at work making sure we’re doing all we can to operate a stable service that’s available when you need it the most.
If you believe that your account or order(s) were affected by the outages we experienced on these dates, please complete the form in the link that was emailed directly to you. Please note that if you have already submitted the form there’s no need for you to do anything further and you can only submit the form once, but you can select multiple orders and positions if needed.
We are very sorry for any inconvenience you may have experienced. We know this has been frustrating and we will work diligently to provide the level of service you deserve. Please let us know if you have any additional questions or concerns. We’re here to help.
We apologize for any inconvenience this process may have caused you. We very much appreciate your business and certainly understand that there is always room to improve our services. If there are any other issues that need to be addressed, now or in the future, please do not hesitate to contact us at [email protected].
Sincerely,
Robinhood Compliance

Robinhood failed its customers on March 2nd and March 3rd. On one of the most historic days on the stock market, Robinhood's services crashed, leaving millions of customers unable to trade their positions. Not only that, the following day, their services were still broken and did not allow customers to trade in the stock market. Their failure to prevent a service crash and failure to fix within 24 hours shows their incompetence and lack of work ethic. They have greatly undermined their customer's trust.

Robinhood Financial Response • Mar 14, 2020

Please see attached letter that was sent to the customer.

Dear Madame Sir,
I'm contacting you regarding my account with Roobinhood broker, yesterday they had system issue which is impacting my trade I purchased 1000 share and I couldn't cancel it or do anything I recorded a video and I took screenshot, after that I contacted the customer service on tweeter and via Robinhood I did everything the only answer is we have a system issue we apologize for this inconvenience... I told them that I still have the position open I'm loosing money !! No once care they respond only with the standard message and they told me we are working to back up everything but this not gonna resolve my issue. Now I'm down 415$ because of thier problem and the ceo and co founder they put a msg that we care about your money but I didnt see that I'm still waiting for an answer

Thank you for your understanding

Robinhood Financial Response • Mar 25, 2020

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Address: 85 Willow Rd, Menlo Park, California, United States, 94025-3656

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