- أغسطس 11, 2021
- Posted by: ForexTradeOn
- Category: Robinhood Full Review
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In some cases, you may want to close your Robinhood account. This can happen because one or more of the following points:
- You’re not able to trade anymore
- You find that the Robinhood broker is not suitable for you after some time trading.
- You don’t want to be charged with inactivity fees and have no intention to come back.
For these reasons and more, Robinhood provides an option to delete your account permanently.
Robinhood doesn’t charge any inactivity fees from your balance except for a monthly $5 for the gold account.
Steps to Delete Your Account
- To delete your account properly you should firstly close all your open positions.
- Tap the Account (person) icon
- Tap Settings
- Tap Account Information
- Scroll and tap Deactivate Account
- Follow the steps to close all your positions and withdraw your outstanding balance. You can withdraw your money via bank transfers only within 3 business days. Robinhood charges withdrawal fees as the following:
- International clients – $50 on wire transfer
- US clients – $25 on wire transfer
- ACH (Free of Charge)
- Once your balance is $0.00 and your positions are closed, you will be able to confirm your deactivation request.
After you deactivate your account, you can still view and download tax and statements records anytime.
Transfer Your Money to Another Broker
To transfer your money and assets to another broker from Robinhood, you should follow these steps:
- Choose where you’d like to transfer your account
- Submit a request to that brokerage to have your assets transferred out of Robinhood. If you transfer all of your assets out, we’ll automatically close your Robinhood account for you.