Download Article
Download Article
Are you ready to close your Robinhood account? Whether you're no longer excited about trading stocks and cryptocurrencies or just want to transfer your positions to another brokerage, closing your Robinhood account is incredibly easy. Before you close your account, you'll just need to sell or transfer your stocks and cryptocurrencies and withdraw any remaining funds to your bank account. This wikiHow article will walk you through the simple process of closing your Robinhood account.
Steps
Section 2 of 3:
Closing Your Account
Download Article
-
Open the Robinhood app. You can launch the app on your Android, iPhone, or iPad to easily close your account. During the closing process, you'll be prompted to take care of any loose ends (such as closing your positions) along the way.
-
Close any open stock positions. If you have any remaining stock shares, you'll need to sell those first. Go to the stock's page, choose Trade , tap Sell , and choose your selling preferences.
- If you want to transfer your stocks to another brokerage instead, you can do so . Once your new brokerage initiates and completes the transfer, Robinhood will instantly close your account.
-
Sell or transfer your cryptocurrency. You'll also need to sell or transfer any crypto you own. To sell crypto, just go to the cryptocurrency's details page, tap Trade , tap Sell , select an order type, and confirm your order. [4] X Research source
- If you've enabled the cryptocurrency wallet in Robinhood, you can opt to transfer your crypto to another blockchain instead. [5] X Research source To enable the cryptocurrency wallet, tap the Account icon (the person), tap the menu, choose Crypto , then follow the on-screen instructions to activate your wallet. This can take up to 5 days.
- To transfer crypto to another location after activating the wallet, go to the currency's details page, tap Send , enter the amount and wallet address, and go to Review > Submit . Make sure you enter the wallet address carefully, as an incorrectly-typed wallet address will result in lost funds.
- Any on-chain transfer fees will be deducted from your balance during the transfer.
-
Withdraw your cash balance. After selling stocks and currencies, you'll need to transfer your cash balance over to your bank account. [6] X Research source It's super easy: [7] X Research source
- Tap the account icon at the bottom-right.
- Tap the three-line menu.
- Tap Transfers .
- Select your Robinhood account in the "From" field.
- Select your bank account in the "To" field.
- Enter the entirety of your balance.
- Tap Review .
-
Tap the Account icon. It's the outline of a person at the bottom-right corner.
-
Tap the Menu icon ☰ . It's the three horizontal lines at the top-left or top-right corner, depending on your platform.
-
Tap Deactivate your account . If you don't see this red button, tap Account Information first. [9] X Research source
-
Complete your final tasks. If you still have open positions or there's a balance on your account, you'll see that information under "Deactivate your brokerage account." It can take a few days for sales and transfers to complete—if the "Deactivate account" button is grayed out, there's still more to do.
-
Tap Deactivate account and follow the on-screen instructions. Once you've fulfilled all obligations, your Robinhood account will be closed. [10] X Research source
- It can take anywhere from 3 days to a week to close your account.
Advertisement
Section 3 of 3:
Transferring to Another Brokerage
Download Article
-
Tap the Menu icon ☰ in Robinhood. It's the three horizontal lines at the top-left or top-right corner, depending on your platform. If you need to transfer your stocks, ETFs, or options, to another brokerage before canceling, it's easy to do.
- There is a fee for brokerage transfers.
- If you have fractional shares, they'll be sold before the transfer. The cash balance from the sale(s) will be transferred as cash to the new brokerage.
- If you're using margin trading on Robinhood, reach out to your new brokerage before transferring. Your brokerage may accept leveraged accounts.
-
Tap Investing . It's at the top of the screen.
-
Write down your account number. It's the number at the top of the screen below "Account no." You'll need to give this number to your new brokerage.
-
Request a transfer from your new brokerage. The new brokerage will need to start the transfer from their end. Provide the brokerage with the following information: [11] X Research source
- Your Robinhood account number.
- Robinhood's DTC number, which is 6769.
- Request an ACATS (Automated Customer Account Transfer Service) transfer of your entire portfolio. This is the only type of transfer that will work with Robinhood.
-
Wait for the transfer to complete. Once the transfer is complete, all your settled shares, options, and cash from fractional share sales will move to the new brokerage. If you do not have a remaining cash balance, Robinhood will automatically close your account once the transfer completes. [12] X Research source
- If you have a balance, you'll need to withdraw your funds and then close your account .
Advertisement
Expert Q&A
Ask a Question
200 characters left
Include your email address to get a message when this question is answered.
Submit
Advertisement
Video
Tips
- If you've fulfilled all of your obligations and are still unable to close your account, contact Robinhood support at support@robinhood.com.Thanks
- To retrieve your tax documents and other information from Robinhood after closing your account, tap the Account icon (the person), tap Statements , and then choose a document.Thanks
- When transferring cryptocurrency to another wallet, it's important that you get the cryptocurrency wallet address correct. If you enter the address incorrectly, you will not receive your funds.Thanks
Submit a Tip
All tip submissions are carefully reviewed before being published
Name
Please provide your name and last initial
Thanks for submitting a tip for review!
Advertisement
References
- ↑ https://robinhood.com/us/en/support/articles/close-my-account/
- ↑ https://robinhood.com/us/en/support/articles/close-my-account/
- ↑ https://robinhood.com/us/en/support/articles/get-started-with-cash-management/
- ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
- ↑ https://robinhood.com/us/en/support/articles/cryptocurrency-wallets/
- ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
- ↑ https://robinhood.com/us/en/support/articles/close-my-account/
- ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
- ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
About This Article
Thanks to all authors for creating a page that has been read 36,273 times.
Advertisement
