The steps to close a Robinhood account
To close a Robinhood account, you log into the app or website, navigate to your Account settings, select the option to close your account, and follow the prompts to confirm. Robinhood will ask you to settle any open positions, transfer or withdraw any remaining cash, and confirm your identity before the closure is final. The entire process typically takes a few minutes to complete, though it may take several business days for Robinhood to process the closure on their end.
Before you start, make sure you have settled any open trades, transferred or withdrawn all cash balances, and paid any outstanding margin debt or fees. If you have unsettled funds (cash from recent sales that haven't cleared yet), you cannot close your account until those funds settle, which usually takes two business days after the sale.
Key Takeaways
- You must close all open positions and withdraw or transfer all cash before Robinhood will process your account closure.
- Unsettled cash from recent trades will block closure until the settlement period ends, typically two business days after a sale.
- The closure request itself takes minutes, but Robinhood may take several business days to fully process and close the account.
- Once closed, you cannot reopen the same account; you would need to create a new one if you return to trading.
How to access the account closure option
Open the Robinhood app or go to robinhood.com and log in with your username and password. Tap or click the Account icon (usually a profile or gear symbol) at the bottom or top right of the screen, depending on whether you are on mobile or desktop.
From the Account menu, look for a section labeled "Account Settings" or "Settings." Scroll down until you see an option that says "Close Account," "Deactivate Account," or "Delete Account." The exact wording varies slightly between the mobile app and the website, but the option is always in the Account Settings area.
What you must do before closing
Robinhood will not let you close your account if you have open stock, options, or cryptocurrency positions. You must sell or close every open position first. This means liquidating any shares you own, closing any options contracts, and selling any cryptocurrency holdings. You can do this through the normal trading interface before you attempt to close the account.
Next, you must have a zero cash balance. Any money sitting in your Robinhood account must be withdrawn to your linked bank account or transferred elsewhere. If you have a negative cash balance (meaning you owe Robinhood money), you must deposit funds to bring it to zero. This includes any outstanding margin debt, fees, or other charges.
Check that all your trades have settled. If you sold securities recently, the cash from that sale may be unsettled and unavailable for withdrawal. Robinhood holds most sales for two business days before the cash settles. You cannot close your account while unsettled cash is pending.
The account closure process step by step
Once all positions are closed and your cash balance is zero, open Account Settings and select the close account option. Robinhood will show you a summary of your account status and ask you to confirm that you have no open positions and no cash balance. Review this summary carefully to make sure everything matches what you expect.
Robinhood will then ask you to confirm your identity, usually by entering your password or using two-factor authentication if you have it enabled. This is a security step to prevent someone else from closing your account without permission.
After you confirm your identity, you will see a final confirmation screen. Read any warnings or messages Robinhood displays — these often remind you that you cannot reopen the same account and that any pending transactions may be cancelled. Click or tap the button to confirm closure.
What happens after you submit the closure request
Robinhood will send you a confirmation email to the address on file. This email confirms that your closure request has been received and tells you what to expect next. Keep this email for your records.
The account closure itself is not when ready. Robinhood typically processes closures within several business days. During this time, you may still see your account in the app or on the website, but you will not be able to trade or access most features. Once the closure is complete, Robinhood will send you another email confirming that your account is closed.
After closure, your account data and transaction history remain available to Robinhood for tax and regulatory purposes. You can still read your tax documents (like 1099 forms) from Robinhood's website even after your account is closed, usually for up to seven years.
If you want to return to trading later
Once you close your Robinhood account, you cannot reopen it. If you want to trade again in the future, you will need to create a new account from scratch. This means going through the sign-up process again, linking a new bank account, and waiting for verification.
Your old account data will not transfer to a new account. However, you can read your transaction history and tax documents before closing if you want to keep records for your own files or for a tax professional.
Common reasons the closure might not work
If you try to close your account and Robinhood shows an error or blocks the request, the most common reason is that you still have an open position or unsettled cash. Double-check that every stock, option, and cryptocurrency position is closed and that your cash balance shows zero.
Another reason closure might fail is if you have a pending deposit or withdrawal. If you recently transferred money to or from your bank account, wait for that transfer to complete before attempting to close. Robinhood may also block closure if there are pending tax documents or regulatory holds on your account.
If you see a message about margin debt or fees, you must deposit funds to cover those amounts before closure. Contact Robinhood's support team if you cannot identify why closure is being blocked.
Frequently Asked Questions
Can I close my Robinhood account if I have unsettled cash?
No. Unsettled cash from recent trades will block account closure until the settlement period ends, which is typically two business days after you sell a security. You must wait for the cash to settle and then withdraw it before you can close your account.
What happens to my tax documents after I close my account?
Your tax documents remain available on Robinhood's website after closure. You can read 1099 forms and other tax records for up to seven years. read them before closing if you want a backup copy on your computer.
Can I reopen my Robinhood account after closing it?
No. Once closed, that account cannot be reopened. If you want to trade again, you must create a new account. The new account will be treated as a separate account with its own history and settings.
How long does it take Robinhood to fully close my account?
The closure request itself takes minutes to submit, but Robinhood typically takes several business days to process the closure on their end. You will receive a confirmation email when the closure is complete.
What if I owe Robinhood money when I try to close?
You must deposit funds to pay off any outstanding balance, margin debt, or fees before closure is allowed. Your account balance must be exactly zero. Contact Robinhood support if you are unsure what amount you owe.