You can close your Robinhood account through the app or website, but you must first settle any open positions and withdraw your cash
Closing a Robinhood account takes about five minutes if your account is empty. If you hold stocks, options, or crypto, you need to sell those positions first. If you have unsettled cash (money from recent sales that hasn't cleared), you must wait for it to settle before you can withdraw. Once your account shows a zero balance, you can request closure from the settings menu.
The process is straightforward, but the order matters. Trying to close an account with open positions or pending transfers will fail, and you'll have to start over. This guide walks you through the exact steps and what to do if you run into a hold-up.
Key Takeaways
- You must sell all stocks, options, and crypto holdings before you can close your account.
- Cash from recent sales takes one to three business days to settle; you cannot withdraw unsettled funds.
- Any pending transfers or deposits must complete before closure can be processed.
- Account closure is permanent and cannot be reversed, so read your tax documents before you proceed.
- Robinhood does not charge a fee to close your account.
Sell all open positions before you start
Open a position in Robinhood means you own a stock, option contract, or cryptocurrency. You cannot close your account while you hold any of these. Log into the app or website and go to your portfolio or holdings tab. Look for any line item with a quantity greater than zero.
Sell each position at market price. In the app, tap the holding, then tap the sell button. Enter the number of shares or contracts you want to sell (or select "sell all"), review the price, and confirm. On the website, click the holding, then click "sell", and follow the same steps. Repeat this for every holding until your portfolio shows zero positions.
If you hold fractional shares, you can sell those too — Robinhood will sell the entire fractional amount. Options expire on their expiration date; if you hold options that expire before you close your account, they will be exercised or expire automatically, so check your expiration dates and close or roll them if you want to avoid that outcome.
Wait for cash to settle if you just sold
When you sell a stock or option, the cash does not appear in your account when ready. Robinhood must wait for the trade to settle with the exchange, which takes one to three business days depending on the type of security. During this time, the cash is "unsettled" and you cannot withdraw it or close your account.
You can see your settled and unsettled cash in the account details or cash management section. Look for a line that says "settled cash" or "available to withdraw". If you see unsettled cash, wait until the settlement date passes before you try to close your account. Weekends and market holidays extend the settlement period.
If you are in a hurry, you can close your account and leave the cash in it temporarily, then request a withdrawal once it settles. However, this means your account remains open and you may receive statements or tax forms for the year it was open.
Cancel any pending transfers or deposits
If you initiated a bank transfer to or from Robinhood and it has not completed, you must cancel it before you can close your account. Go to the transfers section in account settings. Look for any transfer with a status of "pending" or "in progress".
Tap or click the transfer and select "cancel". The system will ask you to confirm. Once cancelled, any money that was sent to Robinhood will be returned to your bank account within one to three business days. If you initiated a withdrawal from Robinhood to your bank, cancelling it will return the funds to your Robinhood account, and you can then request a new withdrawal after your account is closed.
read your tax documents before closure
Robinhood generates tax forms (1099-B for securities, 1099-INT for interest, and 1099-NEC for referral bonuses) at the end of the tax year if you had any taxable activity. Once you close your account, you can still access these documents, but it is easier to read them now while you are logged in.
Go to account settings, then documents or tax documents. read any 1099 forms or year-end statements and save them to your computer. You will need these when you file your taxes, even if you no longer use Robinhood. If you close your account and later realize you need a form, you can contact Robinhood support to request it, but having it in hand now saves a step.
Request account closure from settings
Once your account balance is zero (no positions, no cash, no pending transfers), go to account settings. On the app, tap the profile icon, then settings. On the website, click your name or profile icon in the top right, then settings. Look for a section called "account" or "account settings".
Scroll down until you see an option that says "close account", "deactivate account", or "delete account". Tap or click it. Robinhood will ask you to confirm that you want to close your account and may ask why you are leaving. You do not have to answer the survey, but Robinhood uses it to improve the platform. Confirm the closure request.
Robinhood will send a confirmation email to the address on file. The account closure is permanent and cannot be undone. If you change your mind, you will have to open a new account and go through the sign-up process again.
What happens after you request closure
Robinhood processes account closures within one to five business days. You will receive an email confirming that your account has been closed. After that, you will no longer be able to log in, and you will not receive statements or trade confirmations.
If you had unsettled cash in your account when you requested closure, Robinhood will process the withdrawal automatically once the cash settles. You do not need to do anything; the money will go to the bank account you had on file. If you want to change the withdrawal destination, contact Robinhood support before you close your account.
If you had a Robinhood Gold subscription (margin account), closing your account will end the subscription. You will not be charged for any remaining subscription time after closure is processed.
Frequently Asked Questions
Can I close my account if I have a negative balance?
No. If you owe Robinhood money (a negative balance), you must pay it back before you can close your account. This usually happens if you used margin (borrowed money to trade) and your positions lost value. Contact Robinhood support to arrange payment, then proceed with closure.
What if I have a pending deposit that hasn't arrived yet?
Cancel the pending deposit in the transfers section before you close your account. Once cancelled, the money will return to your bank. If the deposit has already arrived and settled in your Robinhood account, you must withdraw it before closure.
Will closing my account affect my credit score?
No. Closing a brokerage account does not affect your credit score. Credit scores are based on credit accounts (credit cards, loans, lines of credit), not investment accounts. Robinhood does not report account closure to credit bureaus.
Can I reopen my account after I close it?
You cannot reopen the same account. You can sign up for a new Robinhood account using the same email address or a different one, but it will be a separate account with a new account number. Your trade history from the closed account will not transfer.
What if I have a referral bonus that hasn't been deposited yet?
Robinhood referral bonuses are usually deposited within one to three business days of your friend's first trade. If the bonus is still pending, wait for it to arrive and settle before you close your account. Once it settles, you can withdraw it or let it sit in your account until after closure is processed.