My TSLA Call option was rejected by the bank due to its' expensive nature, as my bank tries to protect me. I was unable to get anyone in customer service on the phone or even online to help rectify the matter.
To make it worse, robinhood declared the money margin, and is now taking interest on the money.
To top it off, they sold my Call option without my consent while it was coming into the money, but was still at a loss. It would have made me a decent amount of money, but instead, posted a $500 loss, and has given me an extraordinary headache with the bank.
STAY AWAY. Use a better brokerage that doesn't fail on high volume days when reliability is a must. This is the last strike against me with this company. They are bandits.
I've never run into such incompetence. App doesn't work. Web site doesn't work. Directions for how to close account don't work. Directions how to contact Robinhood don't work. Verification of identity system doesn't work. Sloppy, sloppy, sloppy. I've wasted a good part of my afternoon on this. It feels like I'm dealing with the Three Stooges. If I could give a review lower than one star, I would.
1st off they are not commission free they charge more than price to buy or sell. I have been unable to trade for 3 days they say they are working on it can't buy and have funds available have lost more than $1000 in 3 days while all they say is they are working on it beware this is not a quality trading co. Have pulled my money out and will be closing my account and my wife and son also a lot better fish in the sea.
Robinhood is illegally holding my funds and making it incredibly difficult to communicate with anyone on their side. They initially restricted my account because of "suspicious" activity. When I call them, it was very frustrating and annoying experience, but eventually was able to verify my transactions and my account. Whats strange is that on that same day I transferred all of my funds to my verified bank account (the one that was funding the Robinhood account), they changed the amount of the transfer without my permission. When I reached out to them about this, they then repeated that the account was restricted. I then countered by saying then why did Robinhood allow the smaller transfer? They went radio silence after that and then had the audacity to say that they have the right to no longer maintain my account. If it wasnt so annoying I would have laughed. They have a policy of acting like children. DO NOT, I REPEAT DO NOT USE ROBINHOOD. This company is a scam. They will hold your money hostage.
Received a notification that my stocks were sold and money was to be deposited into a REVOLUT account. I contacted them with plenty of time to halt the transaction, changed password. They auto reply came back we are looking into this. Every morning I email... no reply. I've contacted BBB and the SIPC. I have screen shots of everything. PLEASE secure your money get it out of Robinhood!
March 2nd and 3rd 2020 robinhood has been down I will NEVER recommend anyone using this app to trade... you literally stopped from buy and selling trades and will not be compensated for loss money. Read the fine print on page 15 its should state everything about class class actions smfh
This company censors and bans small investor activity to prioritize big hedge funds, pushes its privatized advertising bafoonery and sells your data more than Facebook... It's run by fascist, isolationist—that think investing, finance and economics is some type of a real science instead of a bunch of Wall Street monkeys throwing dice at a craps table. None of these people can do real math anyways. Best to stay away from restrictive dictatorial fintech apps
Robinhood's actions on January 28th really just proved that they are completely against "Democratizing finance for all", their own slogan. Preventing retail investors from buying the stock they want because of volatility just to "protect us" is a complete lie. Slimy company. I smell a class action coming.
For the love of your mental health, kindly stay away from this company. They'll make very enticing offer and when you make deposits, withdrawal becomes impossible.
There's no reliable customer service, so contacting them is impossible.
Took my money and almost drove me mad!
But since it was all my savings, I couldn't give up and let them win
Kept looking for means to recover till I got recommendations from a lady on Quora to contact Phoenix Souls
I was skeptical at first but had no choice.
They were able to recover my money back
Surprisingly! Best day of my life!
You can look the website up at Phoenixsouls dot com for help
Good luck
This company isn't trustworthy at all, they actually all nice when they want you to keep depositing but once you have made enough and want to take out your profits, different issues start arising in your account.
They even initiated trades without my permission, it was just a lot not until I got assistance from futuresaidcom that help me secure reimbursements back from this company.
They even stopped responding to my messages and email at some point claim they will look into and never did anything.
They are all the same really, glad it's over now
Answer: I also lost a lot to investment scam... I wouldn't give up if I was you cuz it's your hard earned money and you deserve better trusting this cheap scammers. I sought the services of Phoenixsouls.com They were able to recover my money back I'll recommend them anyday and anytime. They should be able to help get your money back. You can look up their website at Phoenixsouls.com Have a good day
Answer: YOU DO NOT GET BACK YOUR MONEY. SO ONLY INVEST THE MONEY YOU CAN AFFORD TO LOSE. ITS BEST TO STAY AWAY FROM ROBINHOOD FROM THE START.
Answer: Yea me too no freaking help whatsover. 10 emails and nothing i'm so pisssed
Answer: No you don't get help, i've sent 10 emails since 10 days ago and now freaking replies. Never traded on margin or options and initiated a transfer out of robinhood yet they didn't move everything and now say I owe them money. Plus things I sold out completely on 1/27 showed up in my Merrill account on 2/2 BUT at a way higher price than I paid. So such a scam and they will never help you
Robinhood has a rating of 1.4 stars from 267 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with Robinhood most frequently mention customer service, phone number and bank account. Robinhood ranks 107th among Brokerage sites.