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Robinhood

1.4

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Robinhood Reviews Summary

The overall reputation of the company is significantly marred by consistent complaints regarding its customer service. Customers frequently express frustration over long wait times, unresponsive support, and unresolved account issues, often leading to a lack of trust in the platform. While some users appreciate the user-friendly interface and the control over their investments, the negative experiences overshadow these positives. Concerns about account security and unauthorized transactions further exacerbate dissatisfaction. Overall, the sentiment indicates a pressing need for the company to enhance its customer support and communication processes to regain consumer confidence.

This summary is generated by AI, based on text from customer reviews

service
158
value
145
quality
135

We monitor reviews for authenticity

Florida
1 review
4 helpful votes
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Don't use this stock trading app. I bought 30 shares of nokia and then they blocked the ability for anyone to buy them so the stocks nose dived and $#*!ed me over. Can't wait to be apart of their lawsuit $#*!ing scumbags

Date of experience: January 28, 2021
Ohio
1 review
10 helpful votes
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I trusted them with over $40k of my hard earned $ and they locked me out effectively manipulating the maker in their favor. So unethical I can't believe it's legal.

Date of experience: January 28, 2021
Aruba
1 review
1 helpful vote
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Scam
January 28, 2021

Scammers not allowing people to buy and sell stocks freely. Stay away and use another platform if you know what's good for you.

Date of experience: January 28, 2021
Michigan
1 review
0 helpful votes
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Trashcan app
January 28, 2021

Once you start making money they'll shut down trades for your stock. Go somewhere that doesn't cater to wallstreet.

Date of experience: January 28, 2021
Washington
1 review
0 helpful votes
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HORRIBLE
January 28, 2021

Randomly signs you out of your account, then your Touch ID and manual entry of login doesn't work. Try to get a password reset link? Good luck. Wont happen. Customer service line has no options, just says to go online and says goodbye. After you file a claim on their site, it's just long auto-messages with a lot of words, but no actual help after days of waiting for response. Playing tag for days, weeks, etc. Same with *******@askrobinhood Twitter account. It cancels your orders, or let's them pend until they just disappear. ALSO completely removed access to stocks that are growing right now. Took away our ability to buy and is only allowing us to sell the stock we have. Whoever is running this belongs in prison. Costing people tons of money. I've heard these complaints from so many people and experienced them myself.

Date of experience: January 28, 2021
New York
1 review
3 helpful votes
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Market manipulation
January 28, 2021

Robinhood has clearly done its best to manipulate the market in the last 24 hours to screw over millions of their loyal investors in favor of hedgefund owners. Both illegal and despicable

Date of experience: January 28, 2021
Indiana
1 review
0 helpful votes
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Manipulates markets
January 28, 2021

I used Robinhood to buy and sell stock; especially in ones that I believe in. These stock include GME, AMC, BB, and others. While the stocks started to rise, Robinhood removed the ability for the users to purchase these shares and only sell what you currently have. They are manipulating the stock price by directly effecting the supply and demand as they are preventing an entire user base from purchasing stocks. Any company that does this does not deserve your trust and where you should let your money reside. These actions have shown that they care more for the 1% than the average retail investor. I DO NOT RECOMMEND. How can you prevent us from buying stock and state it is for our protection? You terms of agreement lay out the risk of investing when we sign up - do not pretend you are looking out for us. GO SOMEWHERE ELSE!

Date of experience: January 28, 2021
Canada
1 review
1 helpful vote
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GME restrictions
January 28, 2021

Those $#*!ers lies with hedge funds, $#*!ing piece of $#*!. Free market my $#*!
GME to the $#*!ing MOON

Date of experience: January 28, 2021
Colombia
1 review
0 helpful votes
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Corrupt
January 28, 2021

Corrupt. Blocked trading and buying illegally. Shame on you. Not for the people whatsoever. Disgraceful.

Date of experience: January 28, 2021
Arizona
1 review
1 helpful vote
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Worst criminal enterprise besides the cartel! Stay far away! Trapped millions of customers in a tanking stock.

Date of experience: January 27, 2021
New York
1 review
2 helpful votes
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I just lost over 1000 dollars. I made a deposit of 700 dollars and it didn't go through, so I tapped on over and over u til it went through. So they registered 4-5 x that 700 dollars. But I didn't know because they hold onto your money for like 5 days. I called my bank to stop the deposit. To make a long story short - a total mess. It's very confusing because they hold onto your money for too long. Then they sold a stock of mine that had lost 50 percent in value. Disaster. They must make money with your stocks of something. You can't talk to anyone. Not fair!
Be very careful or just don't even go on that platform.

Date of experience: January 20, 2021
Nevada
5 reviews
32 helpful votes
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If you have an issue there is no way for you to speak to someone to resolve the issue. You must send them an email and they will get back to you via email only. Takes about 3 days for a reply. Each time you send a reply it is answered by a different rep so you end up having to re-explain the issue. I have an issue transferring funds back into my bank account which has been in use and verified for over 1.5 years. Now they are requiring me to show documentation that I am the account holder which I have. Been about a week now and no one has been able to help me.

Date of experience: January 19, 2021
Colorado
1 review
7 helpful votes
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I've been with Robinhood for almost 4 years. One problem that's been there since day 1 is customer service. If I have a problem with my TD account there's a phone number to call and a branch right next to my house. Now I'm not saying physical locations should be open, but no phone number even just an email to keep you waiting. I've have fraud occur a long time back and the panic and anxiety is just through the roof waiting for days on end for a simple response for someone to tell you "I'm sorry about that we will look into it, till the meantime request a new card" and never hear a word back. This brokerage could use a bit more help.

Date of experience: January 14, 2021
New York
8 reviews
7 helpful votes
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They offer a relatively simple interface and make getting some stocks accessible to normal people. That's the good. The bad is that many users really don't know what they're doing when it comes to stocks and the companies, metrics, and terminology. Start small and invest what you can afford to lose and learn. So far I've found them decent to work with.

Date of experience: January 12, 2021
Massachusetts
2 reviews
2 helpful votes
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I've Robinhood account for about 3 years now but have been seriously using it about a few weeks ago. I transferred my money into Robinhood's account and would want to start my trading. However, i notice my account is locked because of B-Notice issue. The problem is that Robinhood didn't even have instant chat or phone to reach out for immediately issue. I emailed them a few times in the past 1.5weeks. Zero respond to address the issue. At this time, I'm really frustrated that my money has already transferred but Robinhood preventing me from trading.
Overall, I'm considering finding another trading service. I think Robinhood don't take their Customer issues seriously. Let say, what if you have an issue while using their App. This can be a serious lost because you cannot reach out to their customer support to resolve your problem immediately. With trading you can gain or lose a significant amount of money within a few hours or days. I hope Robinhood will reconsider to take their customer support seriously.

Date of experience: January 12, 2021
California
1 review
1 helpful vote
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They used to send me an email to unlock account. Suddenly they say, SMS only. I don't know which phone number they have - I can't access it. Trying to work with customer support. Unhelpful, constantly sending the same canned message, always new names, no phone number, no interest to resolve this. I took most of my money a few weeks ago, therefore I wait for them to do this. Otherwise I would become very very upset. I never trusted them with a large amount, and I was right. I use schwab and vanguard and fidelity for larger accounts. Vanguard is so-so, but Fidelity was really helpful,

Date of experience: December 31, 2020
Indiana
1 review
1 helpful vote
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Holding my money hostage
December 23, 2020

Heard great things about Robinhood and decided to give it a try. I didn't jump in, just threw some change in to test the system. Was doing well and decided to transfer $100 in from my bank. Still did well. Decided to transfer $125 in. My bank smelled fraud and reversed my transfer. I owed no debt on the account, I did not take the advance funds while waiting for my bank transfer. Robinhood stated I owe them and eventually forced me to sell all my shares to settle with them. I sold all my shares because they froze all my activities until I did. My account holds a credit of $200 but they won't give it to me. They emailed me and said I have to sign a statement saying everything was my fault and the bank reversal came from me. Why would I reverse funds if I'm making money? Why would I even sign a statement like that? Robinhood cut off all communication with me and I log in every day just to see MY MONEY sitting there dormant. I'm going to let it sit there as evidence for the next lawsuit. Apparently Robinhood has been sued multiple times and I will be part of the next one. DON'T USE ROBINHOOD!

Date of experience: December 23, 2020
North Carolina
2 reviews
9 helpful votes
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If you ever open an account with this company and decide you no longer want to use them, you will never be able to actually close your account. They will only deactivate an account just by restricting it from trading but will never actually close it. Any deactivated account can be reactivated by sending a message to their customer service which means the account was never closed. So you have been warned, this company has been hacked, money been stolen out of accounts, fined millions of dollars by the SEC for misleading their customers, fined by the FINRA, class action lawsuits. Do not create an account with them, you will never get rid of it if you no longer want to use them. Almost every broker offers free trading now. If you value security, keep your money and run far away from this company. If you want to invest, open an account with a reputable company.

Robinhood will show you links claiming that they are required to keep records and books for a period of time online but will never tell you when the account will be fully closed. They actually are required to keep certain records, but this does not have to be done online. This has nothing to do with actually closing an account. Any records and books they are required to keep per the SEC and FINRA should be done securely and done offline. Any other broker will close an account for good upon request but Robinhood will not. Do not ever open an account with this company, you have been warned.

Date of experience: December 22, 2020
California
1 review
1 helpful vote
Follow Colleen O.
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Like thousands of others, my account was successfully hacked by criminals. Robinhood even issued the criminal a debit card in their own name: Mysliborska A Warszawa of Poland. Robinhood then linked this person's brand new Robinhood card to my account, even though we have completely different names and live in different countries. Robinhood transferred all of my money to the person in Poland and concluded that no unauthorized transactions took place and that their "decision is final." Robinhood knows my account was breached and they negligently gave a debit card to a criminal and gave my money to them, but they are pretending they don't know and are not responsible. Robinhood steals your money and gives it to the less fortunate overseas criminals in Poland. So only sign up with Robinhood if you want to be a part of their plan. Also, there's no phone number to call.

Date of experience: December 14, 2020
Florida
1 review
7 helpful votes
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Pure theft of your money
December 12, 2020

This sites has stolen over $ 21,000.00 from my account. There system is rigged to control times and trades. This is Criminal. Do not trust this site. And they have no customer support

Date of experience: December 12, 2020