Closing a Robinhood account takes about five minutes if your account is empty, but can take weeks if you have open positions or unsettled cash

You can close a Robinhood account through the app or website, but Robinhood will not let you delete it until your cash balance is zero and you have no open trades, options contracts, or cryptocurrency holdings. If you have money sitting in the account or positions you want to keep, you will need to move or sell those first. The actual deletion happens in the Account Settings menu and is irreversible.

The timeline depends entirely on what you own. If your account is empty, you can close it when ready. If you have cash to withdraw, it takes three to five business days for the transfer to reach your bank. If you have stocks or options you want to keep, you will need to transfer them to another brokerage, which can take one to two weeks. If you want to sell everything first, that depends on market hours and settlement rules.

Key Takeaways

  • Your Robinhood account must have a zero cash balance and no open positions before you can delete it.
  • Cash withdrawals take three to five business days to reach your bank account, not including weekends or market holidays.
  • If you own stocks or options you want to keep, you can transfer them to another brokerage instead of selling, but the process takes one to two weeks.
  • Once you delete your account, it cannot be recovered, so make sure you have downloaded or saved any tax documents or trade history you need.
  • Robinhood does not charge a fee to close your account, but your new brokerage may charge to receive a transfer.

Withdraw your cash before you can close the account

Open the Robinhood app or website and go to Account Settings. Look for the "Transfers" or "Withdraw" option. Enter the amount you want to move to your bank account—you can withdraw all of it at once or in multiple transfers. Robinhood will ask you to confirm your linked bank account.

The money will leave your Robinhood account when ready, but it takes three to five business days to appear in your bank. Weekends and market holidays do not count as business days. If you initiated the transfer on a Friday afternoon, expect the money to arrive on Wednesday or Thursday of the following week. You cannot close your account until this transfer completes and your Robinhood cash balance shows zero.

If you have a negative cash balance—meaning you owe Robinhood money—you must deposit funds to bring it to zero before you can close the account. This can happen if you sold a stock and the sale has not yet settled, or if you used margin (borrowed money) to buy. Check your Account Settings to see your exact balance.

Sell or transfer stocks and options you own

Any open stock position, options contract, or cryptocurrency holding will block account closure. You have two choices: sell it or transfer it to another brokerage.

Selling is faster. Open your Positions tab, select the security you want to sell, and place a sell order. During market hours (9:30 a.m. to 4 p.m. Eastern, Monday through Friday), the sale executes within seconds. After hours, your order waits until the market opens. Once the sale completes, the cash appears in your Robinhood account and counts toward your balance. You can then withdraw it to your bank.

Transferring takes longer but lets you keep your positions. If you want to move your stocks or options to another brokerage—Fidelity, Charles Schwab, E*TRADE, or another firm—you initiate an ACAT transfer (Automated Customer Account Transfer). The receiving brokerage handles most of the work. You open an account there, request an incoming transfer, and provide your Robinhood account details. The transfer typically takes five to ten business days. During this time, your Robinhood account remains open and you cannot trade. Once the transfer completes, your positions appear in the new account and your Robinhood account is empty.

Options contracts are harder to transfer. Not all brokerages accept options transfers, and some require you to close them before transferring. Check with your new brokerage about their policy before you start the process.

Delete your account in Account Settings

Once your cash balance is zero and you have no open positions, go to Account Settings in the app or on the website. Look for "Account" or "Settings" at the bottom of the menu. Scroll down until you see "Close Account" or "Delete Account"—the exact wording varies between the app and website.

Robinhood will ask you to confirm that you want to close the account and will warn you that this action is permanent. You may also see a prompt asking why you are leaving—this is optional feedback. Click the final confirmation button. Your account is now closed.

Robinhood does not send a confirmation email for account closure, so take a screenshot of the final confirmation screen if you want proof that you closed it. If you ever need to trade again, you can open a new Robinhood account with the same email address.

Save your tax documents and trade history before closing

Once your account is deleted, you cannot log back in to retrieve documents. Before you close, read your tax statements, trade confirmations, and any other records you might need for taxes or your records.

In Account Settings, look for "Tax Documents" or "Statements." Robinhood generates a Form 1099 if you had taxable activity during the year. You can read this as a PDF. You can also request a detailed trade history by going to the History tab and taking screenshots or exporting the data if that option is available. Some users copy and paste their entire trade history into a spreadsheet or document before closing.

If you closed your account and realized you need a document, contact Robinhood support through the app or website. They can sometimes provide copies of tax forms or trade records even after account closure, but this takes longer and is not may provide.

What happens to your data after you close

Robinhood keeps your personal information and transaction history for seven years, as required by federal securities law. You cannot access this information through your account, but Robinhood can retrieve it if you request it. Your email address and phone number remain in their system, so you may receive marketing emails or texts for a period after closure.

If you want to opt out of marketing communications, you can unsubscribe from emails using the link at the bottom of any Robinhood email. For text messages, reply STOP to any message from Robinhood. These requests usually take effect within a few days.

Your account closure does not affect your credit score or credit history. Robinhood does not report account closures to credit bureaus. If you had a margin account (borrowed money), closing it also does not harm your credit.

Frequently Asked Questions

Can I close my Robinhood account if I have pending deposits or transfers?

No. You must wait for any pending transfers to complete before you can close your account. If you initiated a deposit from your bank, wait for it to arrive. If you initiated a withdrawal, wait for it to reach your bank and your Robinhood balance to show zero. Then you can close.

What if I have a fractional share I can't sell?

Robinhood lets you sell fractional shares through the app. Open your position, select the fractional share, and place a sell order. It will execute during market hours. If you cannot sell it for any reason, contact Robinhood support—they may be able to force-liquidate it so you can close your account.

Do I lose my buying power or cash if I close my account?

No. Any cash in your account is yours. You withdraw it to your bank before closing. Buying power (the amount you can trade with) disappears when the account closes, but that is just a trading limit—it does not represent real money you lose.

Can I reopen a closed Robinhood account?

No. Once you delete your account, it is gone permanently. You can open a new account with the same email address or a different one, but it will be treated as a brand-new account with no history or connection to the old one.

Will closing my Robinhood account affect my credit?

No. Brokerage accounts do not appear on your credit report, so closing one has no impact on your credit score or credit history.