How to delete your Robinhood account

To close your Robinhood account, log in to the app or website, go to your Account settings, and select the option to close or deactivate your account. Robinhood will walk you through the steps, which include confirming your identity and settling any open positions or unsettled cash. The process typically takes a few minutes to complete, though it may take several business days for the account to fully close on Robinhood's end.

Before you start, make sure you have withdrawn all cash from your account and closed or sold any open positions (stocks, options, or crypto holdings). Robinhood will not let you close an account with money or holdings still in it. If you have pending transfers or unsettled trades, those must clear first.

You can initiate the closure from either the mobile app or the website. The exact menu location varies slightly between the two, but both routes lead to the same Account settings area where the closure option lives.

Key Takeaways

  • You must withdraw all cash and close all positions before Robinhood will let you close your account.
  • The closure request takes a few minutes to submit but may take several business days for Robinhood to process completely.
  • Once closed, you lose access to your account and cannot trade, but your tax documents remain available for download for a limited time.
  • If you have a margin account with a negative balance or outstanding margin debt, you must pay that off before closing.

Withdrawing your cash before closing

Cash in your Robinhood account must be moved to your linked bank account before you can close. Go to the Account menu, select Transfer, and choose "Transfer to Your Bank." Enter the amount you want to withdraw. Robinhood typically moves cash within one to three business days, depending on your bank.

If you have unsettled cash (money from a recent sale that is still settling), you may not be able to withdraw it immediately. Stocks settle in two business days; options and crypto may settle differently. Wait for the settlement period to complete, then withdraw.

If you have a margin account and owe money to Robinhood, you must pay that balance in full before closing. This appears as a negative number in your account. Transfer money in from your bank to cover the debt, then proceed with closure.

Closing or selling your open positions

Any stocks, options contracts, or cryptocurrency you own must be sold or closed before account closure. Open positions block the closure process. Sell through the app or website the same way you normally would: find the holding, tap or click to open it, and select Sell.

For options, you must close the contract (sell it back to the market) rather than let it expire. If an option expires worthless, close it anyway to clear it from your account. For cryptocurrency, sell your full balance or transfer it out to an external wallet if you want to keep it.

After you sell everything, wait for the trades to settle and the cash to appear in your account. Then withdraw the cash to your bank account.

What happens to your tax documents after closing

Robinhood keeps your tax documents available for download after your account closes. You can still retrieve your 1099 forms, trade confirmations, and transaction history from the Account or Documents section for a period of time. Download anything you need for tax purposes before closing, though you can usually still access these documents for several years after closure.

If you close your account partway through a tax year, make sure you have all your year-to-date statements. You will need them to file taxes on any gains or losses from trades you made while the account was open.

Reactivating a closed account

Once you close your Robinhood account, you cannot simply reopen it. If you want to trade again, you will need to create a new account from scratch. This means going through identity verification and linking a bank account again. Your old account data and history remain in Robinhood's records, but you cannot access it through a new account.

If you are closing because of a temporary issue — like wanting to stop trading for a while — consider leaving the account open instead. You can simply stop using it without closing it. This preserves your account history and avoids the need to set up a new account later.

Reasons people close Robinhood accounts

Some people close their accounts because they want to move their holdings to a different brokerage. Others close because they are not using the account and want to eliminate the temptation to trade. Some close after a bad experience or because they prefer a different platform's features or fees.

If you are moving to another brokerage, you have two options: sell everything in Robinhood and transfer the cash to your new broker, or use a direct transfer service (called an ACAT transfer) if your new broker supports it. ACAT transfers move holdings directly without selling them, which can save on taxes if you have gains. Ask your new broker whether they offer this service.

Frequently Asked Questions

Can I close my account if I have pending transfers?

No. Any pending transfers — whether money coming in or going out — must complete before you can close. Wait for the transfer to finish, then start the closure process.

What if I forgot my password and can't log in?

Use the "Forgot Password" option on the login screen to reset it. You will need access to the email address or phone number linked to your account. Once you reset your password and log in, you can proceed with closing the account normally.

Do I lose my trade history after closing?

Your trade history and tax documents remain available for download after closure, though Robinhood eventually removes very old data. Download your statements and confirmations before closing if you want to keep them permanently.

Can someone else close my account?

No. Only the account owner can close the account. Robinhood requires you to log in and confirm your identity before processing a closure request.

What if I have a negative balance on my margin account?

You must pay off the negative balance (the amount you owe Robinhood) before closing. Transfer money from your bank into your Robinhood account to cover it, then proceed with closure.