Closing a Robinhood account takes about five minutes if your account has no open positions, but can take weeks if you hold stocks, options, or crypto
To close your Robinhood account, you log in, navigate to Account Settings, select Close Account, and confirm. Robinhood will then liquidate any holdings you have — selling them at market price — and send the cash to your linked bank account. The entire process is handled through the app or website; you do not need to call anyone or mail anything. However, the timeline depends entirely on what you own: if your account is empty, closure is when ready. If you hold positions, Robinhood must sell them first, which can take several business days depending on market conditions and settlement rules.
Before you start, understand that closing your account is permanent. You cannot reopen the same account; if you want to trade again, you will need to create a new one. Any tax documents, trade history, and account statements should be downloaded before closure, because Robinhood will not send them to you after the account is gone.
Key Takeaways
- Empty your account of all stocks, options, crypto, and cash before closing, or Robinhood will sell your positions automatically at market price.
- The closure request itself takes five minutes, but settlement of sales can take three to five business days depending on what you owned.
- read your tax documents and trade history from Account Settings before you close, because you cannot retrieve them afterward.
- Closing your account is permanent; you cannot reopen it, and you will need to create a new account if you want to trade again.
- If you have unsettled cash (money from recent sales that has not yet arrived in your bank account), wait for it to settle before requesting closure.
Step-by-step process to close your account
Open the Robinhood app or go to robinhood.com and log in. Tap or click the Account icon (usually a person silhouette in the bottom right on mobile, or a menu in the top left on desktop). Select Account Settings, then scroll down to find the Close Account option. Robinhood will show you a summary of your account balance and any open positions. If you have holdings, you will see a warning that they will be sold.
Confirm that you want to close the account. Robinhood will ask you to select a reason for closing (this is optional feedback, not a barrier). After confirmation, the closure request is submitted. If your account is empty, it closes when ready. If you have positions, Robinhood begins liquidating them at the next market open or during the current trading session, depending on the time of day and what you own.
You will receive an email confirmation that your closure request was received. A second email will arrive once the account is fully closed and any remaining cash has been sent to your linked bank account. This second email typically arrives within three to five business days, though it can be longer if you owned options or crypto that require additional settlement time.
What happens to your money and investments
Any cash sitting in your Robinhood account will be returned to the bank account you linked when you opened it. If you have changed your linked bank account since then, the cash will go to the most recent one you designated. The transfer usually takes one to three business days after the account closes.
Any stocks you own will be sold at market price during regular trading hours. You do not get to choose the sale price or timing — Robinhood executes the sales automatically as part of the closure process. This means you could sell at a loss if the market has moved against you, or at a gain if it has moved in your favor. If you want to avoid this, you should manually sell your positions before requesting closure and wait for the cash to settle in your account.
Fractional shares are sold as whole shares at market price. If you own 2.5 shares of a stock, Robinhood will sell all 2.5 shares, not round down to 2. Options contracts will be closed or exercised depending on their status and expiration date. Crypto holdings will be converted to cash at the current market price. In all cases, you have no control over the execution once closure is requested.
read your tax documents before closing
Robinhood stores your tax documents, trade confirmations, and account statements in the Documents section of Account Settings. Before you close your account, read everything you might need. This includes your 1099 forms (which Robinhood generates if you had taxable activity), monthly statements, and trade history.
Once your account is closed, Robinhood will not send you these documents, and you will not be able to log back in to retrieve them. If you need tax documents for a past year, you can request them from Robinhood's support team, but it is faster and simpler to read them before closure. If you traded options or had significant activity, print or save your full trade history as well — this can be useful for tax preparation or if you need to reference a specific trade later.
Reasons to close your account and alternatives
People close Robinhood accounts for different reasons: moving to a different broker, stepping away from trading, consolidating accounts, or dissatisfaction with the platform's features or fees. Before you close, consider whether you actually want to leave or whether you just want to stop trading. If you want to stop trading but keep the account open, you can straightforward not log in — there are no monthly fees for inactive accounts, and you can reopen trading whenever you want.
If you are moving to a different broker, you have two options: close Robinhood and open a new account elsewhere, or transfer your positions to the new broker. A transfer (called an ACAT transfer in the industry) moves your stocks and cash to your new account without triggering a sale. This avoids the tax consequences of liquidating everything at once and preserves your cost basis for tax reporting. Most brokers can initiate an ACAT transfer on their end; you do not need Robinhood's permission. However, ACAT transfers can take one to two weeks and may have a fee at your new broker.
What to do if you cannot close your account
If you see an error message when trying to close your account, the most common cause is unsettled cash or pending transactions. If you sold something in the last few days, the cash from that sale may not have settled yet. Wait for the settlement period to complete (usually three to five business days for stocks) before trying again.
Another common issue is open orders or pending transfers. If you have a buy or sell order that has not executed yet, cancel it first. If you have a pending transfer of cash into or out of your account, wait for it to complete. If you have options that expire soon or are in the money, close or exercise them before requesting account closure.
If you still cannot close your account after checking these things, contact Robinhood support through the app or website. Go to Account Settings, scroll to the bottom, and select Help or Contact Us. Robinhood's support team can investigate holds on your account and help you resolve them. Response times vary, but you should expect a reply within one to three business days.
After your account closes
Once your account is closed, you cannot reopen it. If you want to trade again, you will need to create a new Robinhood account from scratch. This means going through the identity verification process again, linking a new bank account, and starting with a new account number. Your old account history will not transfer to the new account.
If you had a Robinhood Gold subscription (margin trading), it will be cancelled when your account closes. You will not be charged for any remaining subscription time, but you also will not receive a refund for unused time. If you had any pending rewards or referral bonuses, they will be forfeited when the account closes.
Frequently Asked Questions
Can I close my Robinhood account if I have unsettled cash?
No. If you have cash from a recent sale that has not yet settled in your account, you must wait for settlement to complete before you can close. Settlement typically takes three to five business days. You can check your unsettled cash balance in the Account section of the app. Once it settles, try closing again.
Will closing my account affect my credit score?
No. Closing a brokerage account has no effect on your credit score. Credit scores are based on borrowing and repayment history, not on investment accounts. Robinhood does not report account closures to credit bureaus.
What happens to my referral bonuses if I close my account?
Any referral bonuses you have not yet received will be forfeited when you close your account. If you have already received a bonus (it shows as cash in your account), that money stays with you and will be returned to your bank account when you close. Pending bonuses that have not been credited will be lost.
Can I transfer my stocks to another broker instead of selling them?
Yes. You can request an ACAT transfer from your new broker, which moves your stocks and cash without selling. This takes one to two weeks and avoids triggering a taxable sale. You do not need to close your Robinhood account to do this — the transfer happens in the background, and your Robinhood account closes automatically once the transfer is complete.
How long does it take to get my money after I close my account?
If your account is empty, closure is when ready. If you have positions, Robinhood sells them and the cash settles within three to five business days. Once settled, the money is transferred to your linked bank account, which usually takes one to three additional business days. In total, expect one to two weeks from the time you request closure to the time the money arrives in your bank account.