4 ms·

Robinhood closed my brokerage account after I did transferred out assets (via ACATS transfer, to get a signup bonus with another brokerage without realizing cap

Robinhood closed my brokerage account after I did transferred out assets (via ACATS transfer, to get a signup bonus with another brokerage without realizing capital gains). A few months later I asked how to reopen the account, using the "reopen account" form in their app to generate a support ticket. Three weeks later they sent an email saying that my account was permanently closed and I should apply for a new account. Replies to this email yielded a response saying that their email server was failing to accepting messages. So as requested I applied for a new account; the application stayed pending for three weeks, then I got an email autoreply telling me that my application is denied because I have a preexisting account (i.e. the old closed one). Replies to this email also yielded a response saying that their email server was failing to accepting messages. I filed a new support case explaining what had happened, what they told me to do, and asking what I should do next. No reply whatsoever.

XIVMagnus 5y ago
RH is basically shit. I immediately transferred out of RH during the whole GME craze when they froze trading
bob1029 5y ago
I went through this exact same scenario. Had to create another email address to get the 2nd account going. Total garbage experience.
- nvr219 5y ago
  Why did you want to go back there so bad?
  - bob1029 5y ago
    I maintain multiple brokerages. Fidelity, IBKR and Robinhood. The reason I keep RH around is because they have virtually zero restrictions around advanced trading. I basically put all my hyper-risky options stuff in the RH bucket. All my serious money lives elsewhere. I use RH pretty much exactly the way they want me to.
GreaterFool 5y ago
This shows that Robinhood is a true "tech company"!
gpt5 5y ago
The fact that you are so determined to move back that you are dealing with this amount of shit, makes me want to invest in them.
- lanbanger 5y ago
  Short...right?
  - gruez 5y ago
    No, the parent poster is remarking how gp is willing to jump through so many hoops to reopen his robinhood account, that must mean people really like it. Therefore, its a good company to invest in.
    - trompetenaccoun 5y ago
      That proves it then, what could go wrong... On a more serious note the investing and fintech market is incredibly dynamic and competitive. Robinhood is popular because it has big shark backers who successfully convinced many young people that trades are free, even though the cost is just hidden elsewhere. Which more and more slowly come to realize. The whole brokerage market has the potential to be shaken up badly by decentralized exchanges. I'd not invest in something like this now and it's unclear why they would need the money anyway. They're cashing out.
      - RustyConsul 5y ago
        Robinhood's model is different from the rest of the trading firms. Since they take ownership and find a liquidity maker post-trade, it would make them particularly adept at handling crypto trades that have very large spreads. Think of them as an additional vampiric layer ontop of retail trades instead of charging for each trade. They'll soon be eating coinbases massive lunch. I'll definitely invest in them, even if they are a shitty company. The modern era of investment is kinda weird.
daxaxelrod 5y ago
Funny, same thing happened to me. https://imgur.com/a/8MDZHti https://imgur.com/a/8MDZHti I had to close my account for work. I left that company and wanted to open back up my robinhood account. Guess not
- differentView 5y ago
  What do you mean you had to close your account for work?
  - daxaxelrod 5y ago
    Worked for a money center bank. They have strict regulations on what brokerages employees can use in an effort to stop insider trading.
LeftHandPath 5y ago
Move to Schwab or TD Ameritrade (TDA has ThinkOrSwim which is great for day/swing trading; Schwab is acquiring TDA but you can continue to use the ToS platform after that goes through). And then never look back. At least give it a look: https://www.tdameritrade.com/tools-and-platforms/thinkorswim.html https://www.tdameritrade.com/tools-and-platforms/thinkorswim...
- kccqzy 5y ago
  I had a trial (with paper trading) with ToS a while ago, before the Schwab acquisition. I didn't find their platform particularly compelling, so I went back to using StreetSmartEdge by Schwab. Can you explain why you find ToS better?
  - mrgordon 5y ago
    I like StreetSmartEdge better but I would say ThinkOrSwim is much better on mobile especially for options. Real time quotes go a long way and the options are displayed in a condensed fashion.
option_greek 5y ago
They are definitely on their way to reach Google level. Bullish!!!
durpkingOP 5y ago
this thread wasn't made for you to spout your unrelated account shutdown

XIVMagnus 5y ago

RH is basically shit. I immediately transferred out of RH during the whole GME craze when they froze trading

bob1029 5y ago

I went through this exact same scenario. Had to create another email address to get the 2nd account going. Total garbage experience.

nvr219 5y ago
Why did you want to go back there so bad?
- bob1029 5y ago
  I maintain multiple brokerages. Fidelity, IBKR and Robinhood. The reason I keep RH around is because they have virtually zero restrictions around advanced trading. I basically put all my hyper-risky options stuff in the RH bucket. All my serious money lives elsewhere. I use RH pretty much exactly the way they want me to.

GreaterFool 5y ago

This shows that Robinhood is a true "tech company"!

gpt5 5y ago

The fact that you are so determined to move back that you are dealing with this amount of shit, makes me want to invest in them.

lanbanger 5y ago
Short...right?
- gruez 5y ago
  No, the parent poster is remarking how gp is willing to jump through so many hoops to reopen his robinhood account, that must mean people really like it. Therefore, its a good company to invest in.
  - trompetenaccoun 5y ago
    That proves it then, what could go wrong... On a more serious note the investing and fintech market is incredibly dynamic and competitive. Robinhood is popular because it has big shark backers who successfully convinced many young people that trades are free, even though the cost is just hidden elsewhere. Which more and more slowly come to realize. The whole brokerage market has the potential to be shaken up badly by decentralized exchanges. I'd not invest in something like this now and it's unclear why they would need the money anyway. They're cashing out.
    - RustyConsul 5y ago
      Robinhood's model is different from the rest of the trading firms. Since they take ownership and find a liquidity maker post-trade, it would make them particularly adept at handling crypto trades that have very large spreads. Think of them as an additional vampiric layer ontop of retail trades instead of charging for each trade. They'll soon be eating coinbases massive lunch. I'll definitely invest in them, even if they are a shitty company. The modern era of investment is kinda weird.

daxaxelrod 5y ago

Funny, same thing happened to me. https://imgur.com/a/8MDZHti https://imgur.com/a/8MDZHti I had to close my account for work. I left that company and wanted to open back up my robinhood account. Guess not

differentView 5y ago
What do you mean you had to close your account for work?
- daxaxelrod 5y ago
  Worked for a money center bank. They have strict regulations on what brokerages employees can use in an effort to stop insider trading.

LeftHandPath 5y ago

Move to Schwab or TD Ameritrade (TDA has ThinkOrSwim which is great for day/swing trading; Schwab is acquiring TDA but you can continue to use the ToS platform after that goes through). And then never look back. At least give it a look: https://www.tdameritrade.com/tools-and-platforms/thinkorswim.html https://www.tdameritrade.com/tools-and-platforms/thinkorswim...

kccqzy 5y ago
I had a trial (with paper trading) with ToS a while ago, before the Schwab acquisition. I didn't find their platform particularly compelling, so I went back to using StreetSmartEdge by Schwab. Can you explain why you find ToS better?
- mrgordon 5y ago
  I like StreetSmartEdge better but I would say ThinkOrSwim is much better on mobile especially for options. Real time quotes go a long way and the options are displayed in a condensed fashion.

option_greek 5y ago

They are definitely on their way to reach Google level. Bullish!!!

durpkingOP 5y ago

this thread wasn't made for you to spout your unrelated account shutdown