The basic steps to close your Robinhood account

To close your Robinhood account, you log in, navigate to your account settings, and request closure through the app or website. Robinhood will walk you through the process, which includes confirming you have no open positions and no cash balance remaining in the account. The closure itself takes a few minutes to request, though the final processing can take several business days.

Before you can close, you must sell all stocks, options, and crypto holdings and withdraw any cash sitting in your account. Robinhood will not let you submit a closure request if money or securities remain. If you have a margin account (one where you borrowed money to trade), you must pay back any borrowed funds first.

Key Takeaways

  • You must sell all positions and withdraw all cash before Robinhood will process your closure request.
  • If you have a margin account with borrowed funds, you must repay the loan before closing.
  • The closure request takes minutes, but final processing by Robinhood can take several business days.
  • After closure, you will no longer be able to trade or access your account, so download any records you need first.
  • Closing your account does not affect your tax records — Robinhood will still send you tax documents for the year you traded.

Selling your holdings and withdrawing cash

Open the Robinhood app or go to the website and review your portfolio. You will see every stock, ETF, option contract, and cryptocurrency you own. Sell each position by tapping or clicking on it, selecting "Sell," and confirming the order. Market orders (selling at the current price) execute within seconds during market hours; limit orders (selling at a price you set) may take longer or not fill at all if the price never reaches your target.

Once all positions are sold, check your account balance. Any cash from sales, dividends, or transfers will show in your cash balance. Go to the "Account" or "Transfers" section and withdraw this money back to your linked bank account. Robinhood typically processes withdrawals within one to three business days, depending on your bank.

If you have fractional shares (pieces of a share rather than whole shares), Robinhood will sell these too when you sell the position. You do not need to do anything special — the app treats fractional and whole shares as one holding.

Handling a margin account and borrowed funds

If your account is a margin account, Robinhood lent you money to buy securities. You can see whether you have a margin account by checking your account type in settings. If you borrowed money, your account will show a "margin balance" or "amount owed." You must repay this in full before closing.

To repay, deposit cash into your account equal to or greater than the amount owed. Transfer money from your linked bank account through the "Transfers" section, and Robinhood will automatically apply it to your margin debt. Once the debt is zero, you can proceed with closure.

Requesting account closure through settings

After all positions are sold, all cash is withdrawn, and any margin debt is repaid, open your account settings. On the app, tap the account icon (usually in the bottom right), then look for "Account Settings" or "Settings." On the website, click your profile icon and select "Account Settings." Scroll down to find "Close Account" or "Deactivate Account."

Robinhood will show you a checklist confirming that your account is empty. If anything remains, it will tell you what still needs to be sold or withdrawn. Once everything is clear, you will see a button to confirm closure. Click it, and Robinhood will ask you to confirm one more time. After you confirm, the request is submitted.

What happens after you submit the closure request

Robinhood processes closure requests within a few business days. During this time, your account will be locked — you cannot trade, transfer money, or access most features. You can still log in to view your account, but you cannot make changes.

Once Robinhood completes the closure, you will receive a confirmation email. Your account will no longer appear in the app or on the website. If you need to retrieve any information (trade history, tax documents, statements), download or screenshot it before submitting the closure request, because you will not be able to access it afterward.

Tax documents and records after closing

Closing your Robinhood account does not erase your trading history for tax purposes. If you traded during a calendar year, Robinhood will send you a Form 1099 (or other tax document) for that year by January 31 of the following year, even if your account is closed. You need this document to report capital gains or losses on your tax return.

Robinhood typically makes tax documents available in your account before mailing them. Log in and download your 1099 before you close, or contact Robinhood's support after closure if you need a copy. You can also request documents by mail if you prefer a physical copy.

Frequently Asked Questions

Can I close my account if I have pending orders?

No. You must cancel all open orders before you can close. Open orders are buy or sell orders you placed but that have not executed yet. Go to your orders section, find any pending orders, and cancel them. After that, sell your positions and proceed with closure.

What if I have a cash balance but no positions — can I close without withdrawing?

No. Robinhood requires your account to be completely empty, including cash. You must withdraw all remaining cash to your linked bank account before submitting a closure request. This protects your money by ensuring it goes back to you, not held by Robinhood.

How long does it take for my account to fully close?

The closure request takes a few minutes to submit, but Robinhood's processing typically takes three to five business days. You will receive an email when it is complete. During processing, your account is locked and you cannot trade or make transfers.

Will closing my account affect my credit score?

No. Closing a brokerage account like Robinhood does not appear on your credit report and does not affect your credit score. Credit reports track loans and credit accounts, not investment accounts.

Can I reopen my account after closing it?

You can create a new Robinhood account at any time, but you cannot reactivate a closed account. A new account will be treated as a fresh account with no history from your previous one. Your old tax documents and trade history will still be available from Robinhood if you need them.