How to Close Your Robinhood Account
How to deactivate your Robinhood account
You can close your Robinhood account through the app or website by going to your Account settings, selecting "Deactivate Account," and following the prompts. Robinhood will walk you through the steps to confirm your identity and ensure you have no open positions or unsettled cash before the account closes. The process typically takes a few minutes, though it may take several business days for the closure to complete on Robinhood's end.
Before you start, make sure your account meets two conditions: you have no open stock or options positions, and you have no unsettled cash (money from recent trades that hasn't cleared yet). If you have either, you'll need to close those positions or wait for the cash to settle first. Robinhood won't let you deactivate until both are zero.
Key Takeaways
- Your account must have zero open positions and zero unsettled cash before Robinhood will let you close it.
- You start the deactivation process in Account settings on the app or website, not by contacting customer support.
- If you have fractional shares, you'll need to sell them before closing, since you can't transfer them out.
- Closing your account does not affect your tax records — keep any documents Robinhood sent you for that tax year.
- If you have a linked bank account, that link will be removed when your account closes, but your bank account itself remains open.
Steps to close your account through the app
Open the Robinhood app and tap the Account icon (usually at the bottom right). Scroll down and look for "Account Settings" or "Settings." Tap it, then look for an option labeled "Deactivate Account" or "Close Account" — the exact wording varies by app version. Tap that option.
Robinhood will show you a summary of your account status and ask you to confirm that you have no open positions and no unsettled cash. Read through this carefully. If either number is not zero, you cannot proceed — you'll need to go back and close those positions or wait for cash to settle. Once both are zero, Robinhood will ask you to confirm your identity (usually by re-entering your password or using biometric authentication) and then ask you to confirm the closure one more time. After you confirm, the process begins.
Steps to close your account on the website
Log into your Robinhood account on the web. Click on your account icon or profile picture, usually in the top right corner. Select "Account Settings" from the menu. Look for "Deactivate Account" or "Close Account" — it's typically near the bottom of the settings page under security or account management options.
Click that option and Robinhood will display your account status. Confirm that your open positions and unsettled cash are both zero. If they are, Robinhood will ask you to verify your identity and then confirm the closure. After you confirm, your deactivation request is submitted.
What to do if you have open positions or unsettled cash
If you see a message saying you have open positions, you need to sell them before you can close your account. This includes stocks, options, and fractional shares. Go to your holdings, select each position, and sell it at market price. For options, you can sell to close or let them expire if they're out of the money — Robinhood will not close them for you.
If you have unsettled cash, this usually means you sold something recently and the proceeds haven't cleared yet. Unsettled cash typically clears within one to two business days. You can check when your cash will settle by looking at your recent transactions or your account balance details. Wait for the settlement date to pass, then try deactivating again.
What happens to your data and tax documents after closure
After your account closes, Robinhood keeps your account records for the time required by law, usually seven years. You can still request copies of your tax documents (1099 forms, trade confirmations) after your account is closed by contacting Robinhood's support team. Save any tax documents Robinhood sent you during the years you held the account — you'll need them if you're ever audited or need to report gains and losses.
Your closed account will not appear in your app or on the website once deactivation is complete. If you want to trade again in the future, you can open a new account, but you'll go through the full signup process again.
Removing your linked bank account
When you close your Robinhood account, any linked bank account is automatically disconnected from Robinhood. Your bank account itself remains open and unaffected — closing your Robinhood account does not close your bank account. If you linked a debit card for instant deposits, that link is also removed.
If you want to remove a linked bank account before closing your Robinhood account, you can do so in Account Settings under "Linked Banks" or "Payment Methods." Select the bank account and choose "Remove" or "Unlink." This does not affect your ability to close your account later.
How long the closure takes
The deactivation process itself takes a few minutes once you confirm it in the app or on the website. However, it may take several business days for Robinhood to fully process the closure on their end. During this time, your account may still appear in your app, but you won't be able to trade or deposit money. Once the closure is complete, your account will disappear from the app.
If your account closure seems to be taking longer than a week, contact Robinhood support through the app or website to check the status. Provide them with your account details and they can tell you where the closure stands.
Frequently Asked Questions
Can I reopen my account after I close it?
No, you cannot reopen the same account. If you want to trade again, you'll need to open a new account and go through the full signup process. Your old account number will not be reused.
What if I have a margin balance or owe Robinhood money?
You must pay off any margin balance or outstanding debt before you can close your account. Contact Robinhood support if you're unsure of your balance, and they can tell you the exact amount owed and how to pay it.
Do I need to contact customer support to close my account?
No, you can close your account entirely through the app or website without contacting support. Support is only needed if you run into a problem during the process or if your account has a special status (like an active margin call or pending investigation).
Will closing my account affect my credit score?
No, closing a brokerage account does not affect your credit score. Credit bureaus only track credit accounts (credit cards, loans, lines of credit), not investment accounts.
What if I have pending deposits or transfers?
You must wait for any pending deposits or transfers to complete before you can close your account. Check your recent transactions to see if any transfers are still in progress. Once they settle, you can proceed with deactivation.