How to Cancel Robinhood Account

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How do I cancel a Robinhood deposit? What if the Robinhood order cannot be canceled at this time? Cancelling Robinhood Gold might be troublesome in some cases. Some might feel that charges are more compared to other trading apps. All your queries will be looked into in this article.

Robinhood has become a popular outlet for stocks and cryptos trading, serving a user-friendly interface, and no commission is charged on trading. However, possibilities might take a U-turn that you wish the Robinhood account to be canceled. 

What are the points to follow before canceling Robinhood Gold

i) Review the Holdings:-

Before the cancellation of your Robinhood account, it’s important to review the holdings of the account you possess currently. Ensure that you have transferred any cryptocurrencies you wish to save. Once the account is canceled, no access to the portfolio.

ii) Withdraw the remaining Funds:-

Make sure to have the funds withdrawn from the account. Any funds remaining will be transmitted to the linked bank account after the closure of the account, but it’s better to maintain a clean slate before proceeding.

iii) Contact Robinhood Support:-

In order to initiate the cancellation process, you will require to contact Robinhood’s support team. Write an email and send it to the support team. Clearly mention that you desire to have the account closed and deliver any basic information for verification.

iv) Follow  the Instructions:-

The support team of Robinhood will navigate you through the cancellation procedure. They might acquaint you to follow the instruction for security reasons.

v) Await Confirmation:-

After you have commenced the procedure of account cancellation, a confirmation message will be delivered to the email that includes details about when the closure of the will be completed and any further steps that you need to follow.

vi) Check and Confirm:-

Check that you have followed the instructions before the account is canceled officially. The funds being withdrawn, with no outstanding trades, followed the instructions suggested by Customer Support.

vii) Account Closure:-

Once you find everything is in the mandate, Robinhood will process the closure of the account. This might take a few working days to obtain a final assurance that the account has been closed successfully.

How can I cancel my Robinhood Account?

  • Click on the app.
  • Tap on the Profile option.
  • Select the Settings option and then tap on Account Information. Pick the Deactivate option and cancel the account.

Cancellation of Robinhood accounts varies from device to device. Different devices have different steps to follow for cancellation.

Canceling account on iOS gadgets:-

  • iOS users need to click the installed app and enter into the account using the logging-in option.
  • Tap the Account option.
  • Next, scroll to Settings and hit on the Account Information option.
  • You will find the Deactivate tab. Just tal on it and the account is closed.

Canceling the Account On Android gadgets:-

  • Install the Robinhood app if you are a new user.
  • Next, enter your Login details to proceed to the Profile section.
  • Click on Settings and pick the Account Information tab.
  • Now, click on Deactivate the account tab.
  • Clicking the button the account will no longer be in access.

No charges are included in closing the Robinhood account. On closing the account you won’t be able to open the account but you can create a new one

How to cancel Robinhood Gold

You can downgrade the Gold subscription instead of canceling the account, follow the steps mentioned below:

  • Visit the webpage or use the app installed on the device.
  • Enter your credentials and tap on the Login tab.
  • Go to Settings and select the Robinhood Gold tab.
  • Now, you will see the option to downgrade the gold subscription, tap on it.

Can I cancel a limit order on Robinhood?

Yes, you can cancel the limit order on Robinhood. Fractional orders on Robinhood cannot be canceled this time if the trading halt proceeds into outcome prior to the execution of the order.

Can I cancel a deposit on Robinhood?

If the deposit is in the pending state, you can surely cancel it but if already processed no cancellation is possible.

Conclusion

Canceling the Robinhood account implicates several stages to ensure that you have wrapped up all loose ends and withdrawn all funds. By going through this guide, you can smoothly navigate the account closure procedure and evolution to the following investment method or trading outlet. Remember to check the holdings, withdraw funds, communicate with Robinhood customer support, and follow the instructions closely for a better experience.

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