‘They Are Robbing Me’: Angry Robinhood Users Flood FTC’s Complaint Box

In the depths of covid-19 pandemic, an individual in dire straits turned to the final folks that will hear them out: the Federal Trade Commission.

“I had my paycheck direct deposited into Robinhoods new cash management account. Just like a regular bank get paid use debit card, well I got paid last Friday June 12, 2020 and have not been able to use my debit card withdrawal funds or transfer any money to my other banks. I have missed my car payment, dentist appointment, I owed $252.00 and got declined. Totally embarrassing to say the least, plus my other bills are due,” the individual wrote in a criticism obtained by Gizmodo.

The lack of ability to withdraw cash from Robinhood accounts for prolonged intervals of time was a typical criticism from customers. There had been additionally individuals who mentioned they had been hacked after which turned pissed off that Robinhood was unresponsive once they tried to resolve the difficulty. Some customers who say they had been hacked even claimed they misplaced 1000’s of {dollars} once they couldn’t attain Robinhood concerning the difficulty.

Robinhood, a web based inventory buying and selling firm value $9.7 billion as of press time, boasts over 17 million individuals who commerce shares and cryptocurrency on its app. It’s an extremely common retail buying and selling platform within the U.S., and plenty of of its customers are novice merchants. Some customers struggled with what they mentioned issues with Robinhood’s product within the early months of the coronavirus pandemic, already a financially tenuous interval. We obtained complaints filed with the Federal Trade Commission about Robinhood throughout that point.

Gizmodo submitted a Freedom of Information Act (FOIA) request with the Federal Trade Commission for shopper complaints filed about Robinhood that cowl the interval from mid-2020 till mid-2021, simply earlier than the corporate went public in July of that 12 months. The FTC discovered 3,081 complaints, however solely launched 200 of these to Gizmodo beneath its obligations to adjust to FOIA legislation. Private info, together with the identities of the folks making complaints, was redacted by the FTC, which suggests Gizmodo was unable to contact the customers. But we’re publishing a small pattern of the complaints in an effort to focus on patterns that time to bigger issues, simply as we now have with different firms like Binance, Tinder, Venmo, Rent-A-Center, AirBNB, and Honest Company, to call a couple of.

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One of the most typical complaints about Robinhood was an lack of ability to succeed in somebody with the corporate’s customer support crew. Robinhood solely launched cellphone assist in October of 2021, so it was widespread for folks with complaints to be unable to succeed in anybody, in response to the FTC paperwork we obtained. Robinhood is conscious of the difficulty, the corporate informed Gizmodo, and has labored to ameliorate it with a 24/7 hotline.

The firm’s assertion reads, “We are committed to being there for customers when they need us, which is why last year we introduced 24/7 phone support through the Robinhood app. Since 2020, when some of these complaints were filed, we’ve invested heavily in phone support, systems stability, and security processes. We’re committed to supporting our customers and offering a safe experience, and we’re confident that the steps we’ve taken over the past two years put us in a strong position to serve our growing customer base.”

Another recurring criticism entails folks being unable to promote a given inventory whereas its worth tanked available on the market. This difficulty, as you possibly can think about, is troubling as a result of it prevents folks from minimizing their losses.

In one criticism, the final on this checklist, somebody who mentioned they’re serving within the U.S. navy at Guantanamo Bay, Cuba had their account locked over “suspicious” transactions from Cuba. The service member complained that it was “obviously” them, however you possibly can perceive how Robinhood would discover inventory trades coming from Cuba to be suspicious. Venmo had an identical downside with transactions that talked about Cuba.

Again, we couldn’t independently confirm the claims made by customers to the FTC, however when taken within the combination, we imagine they assist present a snapshot of widespread points with Robinhood earlier than it went public. Some of the complaints under have been frivolously edited for spelling and readability.

“I understand the market can be volatile, but this was Robinhood refusing to honor trades of people who purchased the stock legitimately.”

On May twenty sixth I bought a inventory (invvy) after I seen it climbing the charts. Within half-hour of buy, throughout buying and selling hours, invvy peaked at $40 a share and at the moment Robinhood determined they now not wished to assist that inventory. By making that call, they blocked merchants who bought in good religion from promoting their shares of the inventory. During this blackout interval, invvy inventory began dropping dramatically whereas customers had been left holding inventory they couldn’t promote. When Robinhood lastly allowed the sale of the inventory, it had fallen from $40 a share all the way down to $16.00, and I used to be pressured to promote at a loss. Even throughout the blackout interval I attempted to do a cease loss sale for $36.00 a share, and Robinhood rejected my sale. As an investor the distinction between my rejected sale and when i used to be lastly allowed to promote was $900 (+600 to -300). I contacted customer support twice and have acquired nothing in 2 weeks, not even a “we are looking into this”. I perceive the market could be risky, however this was Robinhood refusing to honor trades of people that bought the inventory legitimately. I don’t assume an organization in the midst of day buying and selling can simply resolve they don’t need to honor inventory trades that they had been honoring an hour in the past, to stop buyers from earning money. Since Robinhood has given no response to customer support emails, or tweets, or something concerning this difficulty, I’ve to imagine that Robinhood may do that sooner or later to some other inventory they don’t need to pay out.

“They are robbing me”

They took my deposit and restricted my account in each means. I cant purchase, I promote, I can’t switch the cash out both. they mainly informed me that i owe them the cash which is full non sense. I by no means borrowed something. They are robbing me.

“I have a long position of BTC but when I try to sell any quantity, I get the error…”

I can’t promote something on Robinhood. I’ve an extended place of BTC however when I attempt to promote any amount, I get the error “You do not have permission to perform this action.” I’ve contacted Robinhood 3 instances however regardless of them saying they are going to reply in 1-3 enterprise days, they haven’t. This is my cash on the road so it’s very alarming they’re being unresponsive and have such a blatant difficulty with their platform.

“I have missed my car payment, dentist appointment, I owed $252.00 and got declined”

I had my paycheck direct deposited into Robinhoods new money administration account. Just like an everyday financial institution receives a commission use debit card, nicely I bought paid final Friday June 12, 2020 and haven’t been ready to make use of my debit card withdrawal funds or switch any cash to my different banks. I’ve missed my automobile cost, dentist appointment, I owed $252.00 and bought declined. Totally embarrassing to say the least, plus my different payments are due. My cash is in there they haven’t stolen it. I’m simply not ready to make use of it.

“I haven’t been able to withdraw it for a for weeks.”

Robinhood has disabled my account from withdrawing cash to my financial institution. I’ve $1,446.95 settled withdrawal (money) in my brokerage account and I haven’t been capable of withdraw it for a for weeks. I’ve tried contacting them a number of instances over the identical interval and so they haven’t responded as soon as. My account has been verified and capable of withdrawal money into my financial institution however after I do it say error account withdrawal disabled, why am I unable to withdraw my cash now? I would like my account unlocked so I can withdraw my cash.

“Robinhood’s support team is using this pandemic as an excuse to be lazy and careless with their clients.”

Robinhood is a monetary companies firm that gives a cellular app and web site the place folks can spend money on shares, ETFs, and choices. I at present have an account with them, nevertheless on Thursday June eleventh, 2020, the app logged me out with out my doing. I attempted to log again in, nevertheless they requested a Two-Factor Authorization code, or an Emergency Back-Up code. Unfortunately, my account was connected to my outdated cellphone quantity, and I’ve had the account for such a very long time that I don’t recall them offering me an Emergency Back-Up code. I despatched a message to Robinhood’s assist crew that very same day on June eleventh, 2020 at 8:42PM, case quantity: [redacted] They despatched me an automatic replace to my e mail stating that they acquired my message, nevertheless they acknowledged “our response time to you may be delayed. With the coronavirus outbreak, COVID-19, we’ve had to modify how we operate because the health and safety of our team and customers is our first priority.”

I waited a day, and was shocked that they nonetheless haven’t responded again to me, so I despatched one other message to them on Friday, June 12, 2020 at 8:30AM, case quantity: [redacted]. On Sunday, June 14, 2020 I nonetheless didn’t obtain a single response from Robinhood’s assist crew. I began to turn into irritated and nervous as a result of I’ve over $2,000 invested with them. I despatched one other message to their assist crew at 11:20 AM, case quantity: [redacted]. On Tuesday, June sixteenth, 2020 I turned bored with their video games and despatched a message to their assist crew once more, stating that if they didn’t reply to any of my circumstances, I’ll file a criticism to the BBB. Today is Friday, June nineteenth, 2020 and now I’m writing to you. I’ve been contacting a number of completely different firms for assist throughout this pandemic, and I haven’t had any single difficulty with their assist groups. Robinhood’s assist crew is utilizing this pandemic as an excuse to be lazy and careless with their purchasers. I doubt at this level they even HAVE a customer support crew. As a Robinhood person, I discover this extraordinarily unfair and unethical as a result of now I’ve no technique to entry my investments on Robinhood. This is my cash that we’re speaking about, and I would like entry to my cash. Robinhood clearly doesn’t maintain as much as its mentioned “values” concerning simplicity and holding their product to the very best commonplace. I’ve emailed this firm a number of instances inside the previous week, but no reply or response has been supplied to me.

“The hacker used my bank account information to drain my entire checking account meanwhile Robinhood does nothing.”

I reported fraud/hacking of my Robinhood account on the 2nd of June. I’ve been forwards and backwards with Robinhood’s assist heart, in the meantime a hacker has drained 1000’s of {dollars} from my portfolio. I’ve despatched over 10 emails, verified my id, and jumped by each hoop they put me by. They didn’t freeze my account. They didn’t help in altering my password as a substitute they might ship me a information on how you can change my password myself. Unfortunately the hacker modified the e-mail related to my Robinhood account and my password so I may now not entry my account. Robinhood assist heart takes days to answer to emails and has nonetheless not completed something to help me in anyway. The hacker used my checking account info to empty my total checking account in the meantime Robinhood does nothing. I’ve completed every thing I can to try to save my portfolio and never lose each greenback I’ve earned and saved, however Robinhood won’t assist.

“This week my phone will be shut off and I won’t be able to afford food.”

All of my cash is secured in Robinhood. I take advantage of Robinhood as my financial institution as a result of they solicited me by way of digital advertising for money administration companies. I agreed. This is my brokerage account. Approximately 3 weeks in the past I messaged Robinhood a couple of cost on my MasterCard. I didn’t acknowledge the fees. I messaged them again 2 days later to state I discovered the fees and the difficulty was resolved. Robinhood restricted my account. I haven’t been capable of entry any of my cash for nearly 3 weeks. I can’t use my MasterCard. I can’t withdraw to my financial institution. I’ve emailed Robinhood at the least 15 to twenty instances. I at all times get the identical automated response containing language about COVID 19 and mainly saying they are going to be in contact. I’ve known as the listed cellphone quantity for the enterprise and it’s am automated recording stating that I must go to the web site or app and do the identical factor I’ve already been doing. I began messaging Robinhood assist on Twitter. Still no decision. I’m a poor man. The complete of my financial savings in Robinhood is simply about $2,000. It’s actually the one cash I’ve. Last week as a result of I can’t entry my cash in Robinhood I needed to overdraft my checking account. This week my cellphone will probably be shut off and I gained’t be capable of afford meals. It’s been 3 weeks. I’ve by no means as soon as been capable of really get a human generated e mail or cellphone name. I’m not going to make it with out entry to my cash. Someone please assist me. I’ve paperwork to assist all is the statements inside and could be completely satisfied to offer the multitude of emails, tweets, and cellphone data to confirm. Again, I’m begging. Please take the restriction off my account. Respond. Help. I’m going behind on my payments and unable to purchase groceries. It’s been weeks…. I can’t make it one other week.

“My portfolio has suffered major losses that would not have occurred if my account wasn’t restricted…”

Robinhood LLC. restricted my account. I couldn’t promote or commerce my shares. In the method of closing my account my portfolio has suffered main losses that will not have occurred if my account wasn’t restricted and I used to be allowed to promote after I wanted to. In inventory buying and selling timing is important. 5 to 7 enterprise days for a response and my portfolio will probably be considerably broken. No cellphone quantity to name. No clarification for restriction.

“This company is a big scam.”

I opened an account with E*TRADE which is a professional firm and no downside in any respect. They deducted the cash from my checking account instantly to pay for inventory and I purchased the inventory and offered it. I believed Robinhood was the identical factor. I gave all of them my checking account info and thought they instantly deducted cash for inventory that I purchased per week later. I had no concept that they hadn’t already taken the cash out of my checking account earlier than I purchased the inventory as each different firm does. I by no means heard of anybody “lending” cash for a inventory. I assumed after I purchased the inventory the cash had already cleared my account. So per week later after I bought what I believed was a brand new cost for $50 after I purchased and offered the inventory I attempted to contact the corporate to reversed the cost with the financial institution considering it was a mistake, however they haven’t any cellphone quantity. So I reversed the cost considering it was a double invoice. Before I did that I attempted to name the corporate however they haven’t any cellphone quantity. I then closed my account. Now they need to cost me a 9 greenback reversal charge regardless that they stored all of the revenue from the inventory I offered and the “free” inventory they gave me. They are also charging a month-to-month charge that was by no means disclosed. This firm is an enormous rip-off. And if there’s a downside there’s not even a cellphone quantity to name. If I used to be capable of get somebody on the cellphone after I first had the issue and so they defined it to me all of this could not have occurred. I solely need to be made complete. I bought no revenue from any transactions and solely need to hold my unique $50 with out them charging me a 9 greenback penalty for one thing that might’ve been averted if that they had customer support and clear situations whenever you obtain the app.

“When their app fails to trigger my set sells, I cannot successfully sell at the peaks and buy in the dips.”

I’ve repeatedly set restrict promote orders to set off sells when BTC reaches my goal numbers. However, Robinhood repeatedly fails to execute these restrict sells. I’ve complained earlier than and recieved a primary “it’s not our fault response”. However, these failures are costing me cash. Today $370 and I’m certain it is going to be extra by midnight. When their app fails to set off my set sells, I can’t efficiently promote on the peaks and purchase within the dips. I’ve requested for reimbursement, however sadly I’ll most likely obtain one other “It’s not our fault email”…. If I even acquired any response in any respect. I’m posting this right here to see if a good-faith effort is made to make me complete and repair this difficulty. If not, I will probably be posting the screenshots and movies I’ve (proof of the failed triggers) within the dealer group (150k members) and contacting an legal professional.

“My account is frozen and they are only allowing me to sell more stock to cover fictitious margin call request”

I imagine Robinhood to be manipulating safety, falsely reporting margin calls and creating alternatives to extend yield returns by not permitting me to repay the margin steadiness instantly by the Robinhood app. I’m receiving margin name request to promote or deposit inventory. I’ve offered greater than $8,000 value of inventory or choices to cowl the texts and emails I obtain every day. My account is frozen and they’re solely permitting me to promote extra inventory to cowl fictitious margin name request. I’ve misplaced greater than $5,700 and their workers has acknowledged that the funds are pending. Unfortunately, it has been 3 days and the promote of Zoom inventory has not materialized like the opposite inventory offered.

“It has been a week, I have emailed them multiple times with absolutely no response.”

I’ve been with Robinhood for over 2 years with no difficulty. My account turned locked as a result of they acknowledged {that a} third celebration had tried to entry it. Fine, I respect this characteristic. The downside is when I’ve tried to resolve this difficulty and make contact with customer support, the cellphone quantity they supply merely tells me to e mail them. I e mail customer support and nothing. No response, and no means for me to regain entry to my account. It has been per week, I’ve emailed them a number of instances with completely no response. This is ridiculous, I may very well be shedding cash based mostly on their extreme lack of something resembling customer support. I used to inform folks to make use of Robinhood as a result of I believed it was service which I’ll now not do. This lack of customer support is irresponsible for the individuals who use it and must be mounted. I would really like some type of customer support to contact me so I can entry my account once more.

“I want my funds returned to me…”

I not too long ago offered inventory from My Robinhood account and have out there funds to switch. When I to withdraw it from Robinhood again into my checking. No matter what I do, I get the message “Error Account Withdrawals Disabled”. I’ve contacted them by e mail and there’s no technique to contact them by cellphone. This is very irregular and is a borderline SEC difficulty. I would like my funds returned to me at finest or a cellphone name with an excellent clarification as to why that is taking place. Either means, I would like my a reimbursement.

“I’ve continued to email on May 17th, May 20th, May 21st, May 27th, June 5th, Jun 16th and June 18th…”

I seen fraudulent fees in my commerce account with Robinhood, and I contacted them instantly. Someone had gotten entry to my account, offered all of my shares, and transferred all of the funds out. I first notified Robinhood of this on May twelfth by way of e mail. They haven’t any quantity for me to name. Aside from asking what transactions had been fraudulent and for me to proivde ID they haven’t responded to me since. I’ve continued to e mail on May seventeenth, May twentieth, May twenty first, May twenty seventh, June fifth, Jun sixteenth and June 18th however haven’t any acquired any response aside from an automatic responses on May twenty seventh saying thanking me for offering the data (which was supplied on May seventeenth). I contacted their Twitter account on May twenty first as nicely asking for a quantity to name, however have been informed they don’t have any assist line and that they might escalate my case.

“They took my money and will not either give it back, give me access.”

I made a $3,000 deposit and they’re refusing to present me entry to cash. I can’t withdraw it or do something with it. That $3,000 is the cash I put into the account and never what I made buying and selling with their app. They took my cash and won’t both give it again, give me entry.

“They are showing as being purchased in my portfolio but not showing as being able to sell.”

My invested cash is being held hostage as a consequence of a pc glitch with Robinhood occurring May 20, 2020. I made a Limit Sell Order for six,515 shares of a inventory on May 20, 2020. That order was rejected and canceled by Robinhood instantly however these 6,515 shares weren’t returned to me to have the ability to promote when wanted. They are displaying as being bought in my portfolio however not displaying as with the ability to promote. So ought to this explicit inventory plunge, I’m unable to promote these shares as a result of I can’t entry them. This could be a simple repair for RH to right the pc glitch that has frozen these shares however I can’t get wherever with their assist crew with repeated emails. The cellphone assist service solely reroutes you to e mail. I did create a Twitter account to message their assist crew that means however similar as e mail, solely generic responses are despatched again, that they’re delayed as a consequence of excessive quantity. I need assistance!!! Could you please assist me resolve this difficulty.

“It says that withdrawal has been disabled”

I’ve been attempting to withdraw my cash from Robinhood Financial however when I attempt to switch funds from my Robinhood account to my again it says that withdrawal has been disabled. I’ve been ready for two weeks for assist to assist however they haven’t. I would like all my cash transferred to my checking account after which my difficulty will probably be resolved.

“Robinhood purposely is unreachable by phone…”

I not too long ago tried to commerce securities from a monetary companies brokerage agency, Robinhood Financial, LLC. I made a number of latest deposits and several other deposits prior in good religion to Robinhood to commerce securities. There are many inherent parts constructed into the construction of Robinhood’s operations that point out fraud, negligence, and misrepresentation of its companies is happening. Robinhood, when its buying and selling platform is operational would permit securities to be bought, nevertheless when it got here to promoting these securities, many instances the Robinhood app could be utterly inaccessible and unavailable. I used to be not even capable of entry or view money, securities, and different property supposedly in Robinhood’s management, moreover it was not possible to purchase, promote, or commerce securities. Robinhood, when its buying and selling platform is operational would permit securities to be bought, nevertheless when it got here to promoting these securities, many instances the Robinhood app could be utterly inaccessible and unavailable. Robinhood’s platform could be inaccessible for hours or days at a time and wouldn’t present securities not too long ago purchased as a part of the holdings, so it was unable to promote them, and the securities bought had been by no means delivered in any usable sense. Robinhood successfully stole the funds presupposed to be allotted to the securities. Robinhood not solely didn’t have a backup system however additionally they refuse to speak with their purchasers over the cellphone, and don’t reply to emails concerning the matter. Robinhood purposely is unreachable by cellphone and so they haven’t any backup system in place reminiscent of reside phone brokers to name so as to execute trades or have funds transferred. Through false promoting and misrepresentation of companies Robinhood enticed prospects to relay huge quantities of non-public and monetary info in alternate for being set-up on a rigged platform that drives investor losses by its defects and malfunctions. Robinhood’s utility and companies are marketed and disguised as a dependable investing platform when, in actuality, the design and built-in defects of their infrastructure and platform permit Robinhood to revenue when their prospects lose. Orders routinely don’t execute, equities and choices will disappear out of your portfolio, and regular options like the power to interchange pending orders doesn’t exist on Robinhood’s platform.

“Robinhood took a little over $2,400 out of my account…”

Robinhood took slightly over $2,400 out of my account with no clarification. I’ve despatched a number of emails over the past 2 weeks asking why this occurred, with no response apart from a couple of automated emails.

“Robinhood holds our money without letting us putting the money back into our own bank account, which is a form of theft.”

I opened a Robinhood account a couple of months in the past and invested roughly $500 to promote and commerce shares. I not too long ago offered some shares and made $222.59 through which I wished to withdraw from my Robinhood account to place into my checking account. However, I hold getting an error message saying “Account withdrawal disabled”. I’ve tried to contact the corporate 2 instances by way of e mail since they solely present customer support by e mail and never in some other sort of communication, and it has been 5 and not using a response. I took a while to analysis on-line if others had been experiencing the identical factor, I’ve seen a number of posts from different folks on social media that they’ve skilled the identical difficulty the place Robinhood doesn’t allow us to prospects, withdraw cash from our Robinhood account to place into our checking account, Robinhood holds our cash with out letting us placing the cash again into our personal checking account, which is a type of theft. I’ve video and photograph proof, in addition to statements of every failed withdraw try and e mail proof as nicely. Please assist me with this difficulty, I wish to get my cash from my Robinhood account however Robinhood retains ignoring my emails.

“I was unable to take my profit…”

Quite a lot of instances now Robinhood’s website has been down and it’s costing me $$$. Today they had been down and i used to be unable to take my revenue of $3000. They won’t come clean with their errors. Again not the primary time, however hopefully immediately and this criticism are the final. I would like what’s rightfully mine.

“Robinhood has no customer service to speak of”

Robinhood app allowed scammers to spend cash on a debit card I by no means acquired or used. These scammers made purchases in Brazil with Brazilian retailers, a rustic I by no means been earlier than. I misplaced round $700, overdrafting the account and now Robinhood claims I’m borrowing from margin for these fraudulent claims. Robinhood has no customer support to talk of and in the event you report these fraudulent fees, all you’re going to get is a inventory response in your e-mail claiming they are going to reply in some unknown time later. They haven’t any cellphone quantity to name to substantiate whether or not somebody is even monitoring their fraud system. To return my cash and handle fraudulent fees in a well timed method, don’t simply allow them to sit whereas your prospects undergo. Especially now the place many US residents are struggling economically because of the pandemic.

“I sent several emails asking to payoff my balance.”

This has been ongoing since early March 2020 after I began to know cash lacking from my account. However, more moderen was the incident that transpired round May 26, 2020. I imagine Robinhood is manipulating safety, falsely reporting margin calls and creating the chance to extend yied return by not permitting the purchasers to repay their present margin steadiness by the Robinhood app. I despatched a number of emails asking to payoff my steadiness. However, I began getting notification that I had a margin name. I offered greater than $8,000 value of inventory or choices and the margin name was by no means paid. Around May 27, 2020, I offered ZM inventory for $2,500, then the funds disappeared. The subsequent day, I had one other margin name and the steadiness in my account as -$1.07. The extra inventory I offered the extra the funds vanished from my account. My account is frozen all through the week and it takes Robinhood workers 4 or extra days to answer with a regular e mail that doesn’t handle any of my issues or issues.

“Bait and switch — or false advertising?”

I not too long ago opened an account with Robinhood.com investing. They extensively promote a characteristic of ‘Fractional Shares’ with the ability to be bought as nicely a dividend reinvestment. Neither of those is definitely true. They as a substitute ‘waitlist people’ after which don’t give particular solutions to inquiries on both subject though I’ve tried a number of instances. Isn’t there some technique to treatment as bait and change – or false promoting? There are at present over 1,000,000 folks waitlisted.

“I have been waiting for three months for any update and resolution.”

I tried to open an account 3 months in the past and was denied with an e mail stating that I already had an account. I had by no means tried to open an account so I contacted customer support and was supplied with an e mail handle that they mentioned was registered to my info. The e mail handle supplied has by no means been my e mail and was suspicious in nature. I instantly filed a fraud criticism. I’ve been ready for 3 months for any replace and backbone. I’ve reached out a number of instances and hold getting generic responses to maintain ready. I’ve requested to be contacted by way of cellphone and was informed they can not do this. Someone is utilizing my private info fraudulently. This is extraordinarily regarding to me and I imagine three months is loads of time for an replace on the very least.

“Their phone does not work”

I’ve my account restricted and might’t come up with anybody to assist me with my account, simply an e mail that claims they are going to reply in 3 enterprise days which they don’t and their cellphone doesn’t work. I’ve nearly $6,000 invested on this firm and no phrase again for me to retrieve the cash.

“The hacker has stolen $8,000 and Robinhood isn’t handling the situation…”

On June ninth somebody accessed my Robinhood inventory acct and I misplaced entry to my acct. Ive been coping with Robinhood for 3 weeks by e mail as there is no such thing as a technique to contact them by cellphone. I lastly have entry to my acct once more and the hacker offered all my shares and someway was capable of withdraw round $8,000 from my acct. I can’t get Robinhood to repair this. Now when i attempt to withdraw my cash it wont let me trigger it tells me they’ll solely put again into financial institution cash got here from. Well that’s a lie as a result of they let another person take cash into one other account. I’ve quite a lot of proof to show this. So mainly the hacker has stolen $8,000 and Robinhood isn’t dealing with the state of affairs and even responding promptly.

“This does not make any sense as I did not deactivate my account.”

I had $119,132.25 in my Robinhood account on May 28. On May twenty ninth I licensed a switch of $50,000 to my linked financial institution. Later, on the identical day I opened a brand new account with TD Ameritrade and licensed them to maneuver the remaining $69,132.25 from Robinhood to TD Ameritrade. Right now, my Robinhood account says it’s restricted. I’ve messaged them by their “Contact Support” hyperlink on the web site and acquired no response. Today, I tried to maneuver the remaining $69,132.25 out of Robinhood and into my checking account and acquired a system message that my account is deactivated. This doesn’t make any sense as I didn’t deactivate my account. I want to transfer my funds out of Robhindood. I would really like the remaining $69,132.25 transferred away from Robinhood to my account with TD Ameritrade. And, I would really like a response from buyer assist indicating that is underway and an ETA by which this will probably be accomplished.

“There is no customer service at all.”

Unable to withdraw my out there funds, there is no such thing as a customer support in any respect. They have a quantity that sends you on-line then emails a bot. I’ve $2,600.00 I’m unable to entry, maybe this can be a police criticism?

“Robinhood was down for the entire day, and I was stuck in this trade and ended up losing money…”

On the week of March 2nd, 2020, Robinhood skilled three completely different outages that prevented its customers to carry out any buying and selling. During this time, I suffered huge losses to my portfolio nearly totaling 40%. I entered a commerce with the intention to promote, after I tried to promote at its peak, Robinhood was down for your entire day, and I used to be caught on this commerce and ended up shedding cash as I couldn’t promote till after a large selloff. Additionally, I tried to execute a promote for a separate inventory earlier than its earnings report the next day, and I couldn’t execute the promote as RH was down. By the time RH was functioning once more, that inventory was not value as a lot and I wished to carry at that time. I attempted to cancel the promote so I didn’t take a loss, and I couldn’t I reached out to RH assist to attempt to cancel the sale, they by no means bought again to me and the sale was executed at a loss. This occurred to me AGAIN when Robinhood was down the next day on Tuesday. I jumped by the hoops I wanted to get the provisional credit score that they promised their prospects, I didn’t even count on a credit score wherever close to what my precise losses had been. They JUST bought again to me, refused ANY credit score, and after I requested why they might not clarify. They merely “apologized” for my losses and mentioned that’s all they’ll do. This is completely unacceptable. They had THREE outages that value myself and several other others cash. Their lack of making an attempt to amend this example in any means is atrocious. You’re a brokerage firm, when different firms value prospects a loss, they pay for it. I would like Robinhood to offer my account with a provisional credit score totaling at the least 50% of my realized losses as a consequence of their outages.

“It had become clear the this issue was a matter of FRAUD that seemed to be internal…”

May 22,2020 I opened an account with Robinhood Financial LLC for the aim of purchase shares of AAL (American Airlines) inventory. This was a hit. The downside occurred after I misplaced entry to my account . All makes an attempt to realize entry failed, even whereas corresponding with Robinhood. Every week or so of validating who I’m I gained entry to my account, or what they wished me to imagine was my account. It wasn’t! This was a brand new account that was delinquent of my 1st an solely funding. I continued to speak with them by way of e mail requesting to talk to a consultant as this correspondence was not useful. It had turn into clear the this difficulty was a matter of FRAUD that appeared to be inner. Had I not screenshot the preliminary AAL buy there could be no proof from the Robinhood platform aside from my financial institution assertion. Please assist me maintain these looters accountable.

“They have locked down my account and refused any response to my inquiries.”

Robinhood has successfully stolen my cash. I initially deposited ~$30,000 a number of months in the past. As I’m attempting to withdraw my steadiness, they’ve locked down my account and refused any response to my inquiries. For over two weeks, I’ve despatched every day emails. They don’t present a cellphone quantity for buyer assist, solely e mail. Currently, they solely present automated responses stating to reply inside 24-48 hours. However, since May twenty first (immediately is June sixth), they haven’t responded to something. Starting Monday, I will probably be contacting authorized assist.

“Seems not only unethical but illegal.”

I deposited $1,000 into my account on Mar 5 after which once more on Mar 17. I now have a remaining steadiness in my account of $468.41. On Mar 18 I had a failed deposit of $4,000 and on Mar 24 I had a failed deposit of $7,000. I by no means had entry to those funds and so they by no means effected my account steadiness.When I attempt to withdrawal my steadiness of $468.41, the system doesn’t permit me to take action. When I reached out to assist they informed me I needed to redeposit the $11,000 to then withdrawal the $11,468.41 complete. This is totally pointless because the tried deposits had been by no means made out there to me and so they by no means cleared my account. It seems Robinhood is attempting to carry lots of people’s cash if they’ve a failed deposit which appears not solely unethical however unlawful.

“I got my free stock and she didn’t…”

My spouse despatched me a hyperlink from Robinhood, it mentioned if I enroll, she would get a free inventory and I might get a free inventory. I signed up, and she or he didn’t get her free inventory. When I despatched an e mail to inquire about why I bought my free inventory and she or he didn’t, they then mentioned I wanted to hyperlink my checking account to my account. Their program doesn’t say that could be a requirement and the one technique to hyperlink an account it to switch cash into the Robinhood website. Something I’m not keen to do but. I signed up as required by their promoting, and now they modified the foundations and have cheated my spouse out of her free inventory.

“Robinhood matrix data crashed…”

I’ve contacted Robinhood over 20 instances within the final two weeks for a similar difficulty, and each single time I’m met with a 3-4 day delayed response that by no means addresses my points. I’ve deposited over 500 {dollars} into my Robinhood account, and my account mirrored near 200 p.c enhance in my monetary portfolio a couple of week and a half in the past. Because of this, I tossed extra money into the account however they didn’t pull the cash within the timeframe they mentioned they might, as a substitute they pulled it early, inflicting a reverse switch. This restricted my immediate deposits for about 4 days, however I adopted the foundations they acknowledged and I offered plenty of shares to make up the delta of reversal off of my further earnings I made the day earlier than. They didn’t re-enable my account, took my earnings, and stored my account locked for fast deposits for the entire week, regardless that I didn’t purchase any shares with the deposited quantity that was reversed… Therefore they stole 260 {dollars} of earnings after the reversal, regardless that the funds weren’t used. Then final Friday, the platform confirmed after hours advertising upon alternate opening and I had shares that had been about to be bought and offered that had been setup the night time earlier than. Robinhood matrix information crashed, confirmed no graphical information, solely confirmed afterhours advertising at 10am EST and I used to be unable to dump a inventory that was dropping rapidly because of the truth it was displaying after hours buying and selling. I misplaced near 400 due to that stunt, and prompted me to purchase shares at a lot larger valuations and prompted me not to have the ability to cancel any transfers that had been made. My account is now disabled from permitting any withdraws regardless that it says I’ve the power to withdraw my funds again to my account. It offers me an error and says solely the unique account could be withdrawn too, regardless that it IS the account is was transferred from initially. On the ultimate criticism, they’re displaying solely 380 {dollars} in my account complete, which is unreal and really, very flawed. There ought to be near 1000.00 {dollars} within the account. And I sti haven’t heard from a single soul. They haven’t any listed cellphone quantity and when coping with monetary futures and choices and shares, you want to have the ability to have speedy assist. How on earth can you’ve got a inventory alternate with out with the ability to get customized assist or have explanations. They have screwed me out of 1000s of {dollars} since I restarted the platform final 12 months and I would really like an investigation completed on behalf of their banking practices, infrastructure coding that fails ceaselessly, their poor excuse for any assist means, and a really uncaring method of how cash is manipulated and persons are ripped off. they’re earning money off of individuals by not explaining the complete scope of any monetary penalties, nor have I been expressly informed I used to be being financially penalized. They additionally informed me I used their margin shopping for skill, however my margin has ALWAYS been turned off as a result of I don’t commerce with I need a full investigation into my account and the funds that had been transferred to seek out out what they did with my cash. They already had “found money” floating round within the ether final week of about 160 {dollars}. I do know they’re mendacity. I need a value breakdown of the place my cash was used, charges, and have them create a compulsory cellphone assist for the platform. They are coping with hundreds of thousands of {dollars} with out phone or speedy assist of any sort. Finally I would like my account reinstated, penalties, if given, I would like eliminated, and I would like my account to be listed nearly as good standing with the power to withdraw my funds again to my account.

“They steal from the poor!”

I bought 26 shares of Groupon by this app in April and by no means offered these shares but immediately after I went on the app I’ve just one share. I don’t perceive how an app that’s presupposed to be for buying and selling for folks with little cash and so they steal from the poor!

“I don’t want to create a new account — I just want access to my old one and my money.”

We opened a Robinhood account on May 31 and transferred $100 from my financial institution to that account. I entry Robinhood by an app on my cellphone. I attempted to log in on June 10 and couldn’t (I believe I entered my pin incorrectly). When I attempted to log within the subsequent day with the proper credentials the system stored telling me I’ve to finish my log in to create an account. It is as if my unique account doesn’t exist. I don’t need to create a brand new account – I simply need entry to my outdated one and my cash. I’ve contacted Robinhood assist and solely get commonplace responses which may even be robotic. There isn’t any cellphone quantity for buyer assist. I discovered two numbers on the web however after I name them a recording says to log in to your account for assist and the decision is hung up.

“At this point they are holding my funds hostage.”

I’ve $10,000 of my very own cash on Robinhood. When I try to drag cash out of my account I get an error message. This has been occurring for nearly 2 weeks now. I’ve reached out to their assist crew on a number of events with no response. At this level they’re holding my funds hostage. I’ve absolutely recognized myself with drivers license, passport, and banking pdf statements. I wish to have complete entry to my cash. I would like them to answer me by fixing the withdrawal error.

“You don’t just have a website that’s all about money and no customer service”

I’ve been attempting to withdraw cash out of my Robinhood account to my checking account as a result of I’m going by a hardship. The funds present that it’s money out there to be withdrawn. I simply need my cash. It retains saying “error: account withdrawal disabled” I’ve contacted customer support. I haven’t heard something from them. You don’t simply have a web site that’s all about cash and no customer support! I would like my $2,085.96!!!!!!! I simply need my cash in my account! I’m going by a troublesome time and this poor customer support isn’t serving to! I would like my $2,085.96.

“It has been going on 3 months and still have not had any response from their customer service…”

I’ve been attempting to withdrawal my cash from Robinhood again to my banking account, and it says “Account Withdrawal Disabled”. I’ve contacted their crew with about 4 completely different emails and three request of their web site, and have contacted the Twitter “Robinhood Help” web page. It has been happening 3 months and nonetheless haven’t had any response from their customer support, and nonetheless an unable to drag the withdrawable sum of money that it says I’ve. I can’t discover the reply to get my a reimbursement from something on-line nor can I contact anyone to assist me from Robinhood. I simply need to have the ability to get my a reimbursement from Robinhood. I would like to have the ability to make withdrawals from my account. That is all.

“The app keeps writing that due to high traffic I can’t see alerts…”

I’ve a buying and selling account with Robinhood. As of June 18th their app hasn’t been working nicely. I positioned orders to be offered at market worth for revenue. At time of request, the corporate’s app both reacts too gradual to execute order or the corporate straight out manipulates the platform to profit them. The app retains writing that as a consequence of excessive site visitors I can’t see alerts. From nowhere in the direction of the tip of the day immediately the app confirmed that I had over $4,500 then about 2 minutes later it turned to under $3,500. I had submitted NKLA order immediately to be offered and the corporate didn’t promote. I despatched a number of messages and all I bought had been auto generated messages. After my remaining message which I included that I’ll contact BBB. Robinhood cancelled my order I imagine round 1618 and claimed that they weren’t capable of promote to shut.

“My money is frozen”

They have taken my cash however limit me from utilizing their companies regardless that I’ve completed nothing flawed. My cash is caught and I’m shedding extra money. I’ve been restricted from making purchases since June 26, 2020. My cash is frozen.

“The company stole my stock and profit.”

Bought 20 shares of a inventory (TOP SHIPS) the inventory cut up .. elevated loads. Checked my earnings … my 20 shares vanished with out me promoting or transferring to a dealer. I complained bought e mail with case [redacted]… with no different clarification or return of shares and revenue. Shortly after submitting criticism bought error message whereas wanting up inventory, not supported on Robinhood. Checked once more… inventory went from 10 cent a share to $ 1.36 a share. The firm stole my inventory and revenue. I checked all my transactions .. I solely purchase by no means accomplished a sale. Never transferred any inventory to dealer. It’s theft and the corporate Robinhood stole my 1st actual earnings.

“Robinhood locked me out of my brokerage account stating there was ‘suspicious’ logins from Cuba…”

Due to being deployed at Naval Station Guantanamo Bay, Cuba, Robinhood locked me out of my brokerage account stating there was “suspicious” logins from Cuba which was clearly me. I emailed Robinhood 4 instances and contacted their assist crew on Twitter however they haven’t completed something to resolve the difficulty since June 2nd. In the meantime I’ve no entry to any of my shares or investments which is shedding me cash as the times go by.