Robinhood Reviews

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About Robinhood

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Robinhood is a mobile app and online investment platform that allows users to trade with no commission, account transfer, account setup, per-contract or maintenance fees. It designed its platforms to be simple and accessible for beginners or casual investors, and its Gold membership gives users access to bigger instant deposits and better data.

Visit robinhood.com/us/en
Pros
  • Little to no fees
  • Accessible to novice traders
  • Mobile app
  • Cryptocurrency trading
Cons
  • Limited securities
  • Single account option

What is Robinhood?

Robinhood is a financial services company offering commission-free ETF, stock and option trades with all the tools needed to start investing. It has recurring investments and fractional trades and is one of the few brokers with cryptocurrency trading. There are no account minimums (unless you upgrade to a Gold account), and you can sign up for a Robinhood account from your smartphone in minutes.

If you receive income from your stock investing and want to put it into your retirement account, know that Robinhood currently only supports individual taxable accounts (or brokerage accounts).

How does Robinhood work?

You can trade stocks, ETFs, and options 100% commission-free and without per-contract fees with Robinhood. You can also buy fractional shares for as little as a dollar — a feature that pairs nicely with its recurring investment tool.

All you do is set your investing schedule and dollar amount, and Robinhood automatically invests your money for you. Robinhood’s fractional shares are also eligible for its dividend reinvestment program (DRIP), which automatically reinvests cash dividend payments back into the stock or ETF.

You can trade using Robinhood’s web or its mobile platform, which is available for Apple and Android. Both offer a minimalistic trading experience designed to meet basic needs, which is especially helpful for new or casual traders. You can manage your portfolio on the app, keep tabs on your money, view candlestick charts, access real-time data and listen to live earnings calls.

Robinhood fees

With Robinhood, there aren’t any commission, per-contact, account transfer, account setup or maintenance fees. You can buy fractional shares starting at $1. Like many brokers, Robinhood does charge an outgoing account transfer fee when transferring investments to other brokers — it’s $75 in this case.

Robinhood passes a regulatory transaction fee of $22.10 per $1 million of principal (sells only) for sales with a notional value greater than $500. It requires a trading activity fee of $0.000119 per share in equity sells and $0.002 per contract in option sells. This applies to sales of more than 50 shares and has a limit of $5.95 based on the execution of your order. Robinhood rounds both fees to the nearest penny.

Lastly, banks issuing American Depositary Receipts may charge custodial fees that generally range from $0.01 to $0.03 per share.

Robinhood FAQ

Is there a catch with Robinhood?

There is no catch with Robinhood. Its no-rate and low-rate deals are real, although more advanced users may find its research services and platform to be too bare-bones. Additionally, Robinhood does charge fees for certain actions, like outgoing transfers and applicable transaction fees.

Is Robinhood good for long-term investing?

Robinhood may not be the best for long-term investing because the company doesn’t support certain retirement accounts like Roth IRAs, which offer tax-free growth and distributions in retirement.

What is Robinhood Gold?

Robinhood Gold is an upgrade option that gives you access to premium features, like Level II market data, the ability to trade on margin and instant transfers up to your portfolio value (starting at $5,000 and up to $50,000).

Is Robinhood good for beginners?

Yes. Robinhood claims to be an investing platform for all. Its services are designed to be easy to use even for novice traders. However, all users should understand the risks of investing before starting.

Still have questions?

Is Robinhood safe?

Robinhood is a trustworthy company offering a platform where trained and untrained people can do their own investing and reap the benefits. Because it markets itself toward everyday people rather than pro traders, its platform and feature list are very simple. This makes it easier for novice traders to enter the investing world, but experienced investors may be underwhelmed by its research, data offerings and securities.

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Robinhood Reviews

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    Page 1 Reviews 0 - 10
    Customer ServicePriceBilling

    Reviewed July 12, 2026

    When I got my Robinhood credit card, we started putting virtually all of our everyday spending on it, including our charitable giving. We make all of our donations to our church and the other charities we support using our credit card. After using the card for a few months, I received a message from Robinhood. My wife and I are both over 80 years old. We don't own a business, and we're certainly not using the card for business expenses. Our spending is exactly what you'd expect from a retired couple—groceries, household expenses, medical costs, and donations to the causes we believe in.

    Today I received this email. Apparently, they don't like the amount of charitable giving going through the card. If that's the case, I find it pretty disappointing. You'd think a company would appreciate customers who use their card responsibly while supporting churches and charities, not make them feel like they've done something wrong.

    Here's the email that I got: A note on your spending. Over the last few months, your usage of the Gold Card has included substantial amounts of donation spending. We wanted to take a moment to remind you that the Gold Card rewards can be restricted for using the card for cash-equivalent expenses. Which is why, for the rest of the calendar year any further spending on donations will earn 1 point per dollar spent. Thank you. - The Robinhood Credit Team

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    Refunds & Payouts

    Reviewed July 5, 2026

    I put over 1000 dollars in my wallet. Now I can find the transaction but I can’t get my money back. They are bumbs

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      Customer ServiceSales & MarketingPricePunctuality & SpeedRefunds & PayoutsStaffResolution

      Reviewed June 23, 2026

      I opened an account with Robinhood last week. I bought one SPX stock for $169. Two days later, Robinhood proceeded to take another $250 from my bank account without authorization. I disputed the transaction from my bank. They determined I was owed the $250 back, so they reversed the charge. Robinhood then froze my account, saying I had a deficit of $250. I called the “customer service” number and just got a recording. I went through the online support virtual agent -that was fun! NOT! That bot sent me to another “live” person who told me an escalation team member would call me back 2-3 HOURS later. They never called! Then, 2 days later, Robinhood sold my SPX stock, gave the money to themselves and closed my account! A SCAM!

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      Customer ServiceContract & TermsPricePunctuality & SpeedRefunds & PayoutsBilling

      Reviewed June 21, 2026

      I am owed money by Robinhood in the form of 3% cashback rewards that I earned after charging several thousand dollars on my Robinhood Gold Card. However, Robinhood suspended my credit card account and has not provided the cashback rewards that I believe I earned. Robinhood suspended my account because it required biometric verification in the form of facial selfie photos. When I signed up for the account, I did not anticipate that biometric data would later become the only method available to verify my identity. Due to privacy and security concerns, particularly because my account had previously been compromised multiple times, I was unwilling to provide biometric data to Robinhood.

      I requested alternative, non-biometric methods of identity verification. However, Robinhood did not offer or accept any other verification options and insisted on biometric verification as the sole means of restoring access to my account. Because Robinhood suspended my account and prevented me from using the benefits associated with my Robinhood Gold membership, I requested a refund of my Gold subscription fee for the unused portion of the service. Robinhood declined to provide any refund. In my view, if a company suspends a customer's account and prevents the customer from accessing the services and benefits for which they paid, a refund of the unused portion of the subscription should be considered.

      I am also frustrated by the difficulty of obtaining assistance. Robinhood's customer support options are limited, and I was unable to resolve this matter through customer service despite multiple attempts. Robinhood does not even have a customer phone number to call. As a result of these events, I feel that I have been treated unfairly. I believe Robinhood should honor the cashback rewards that I earned, provide a reasonable non-biometric verification alternative, and refund any subscription fees associated with services that I am unable to use due to the account suspension. Given the number of consumers who may have experienced similar issues, I believe these practices warrant further review by regulators and consumer protection agencies.

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      Customer ServiceTechSales & MarketingPriceRefunds & PayoutsRatesTimeliness

      Reviewed June 14, 2026

      I had brokerage account with Robinhood and they closed my account as of 05/14/2026. I want to know the reason for the closing. But they are not responding to my emails, phone calls and chat. Also they liquidated all my stocks and option contracts as of 05/14/2026. After liquidation balance was $127,210.64 (05/14/2026). But next day the balance dropped to $125,536.78. I need to know the reason for the difference in balance. But they are not providing any reason. They stolen my money. I am legally proceeding. Don't be fooled by their margin interest rate. They are not executing market order for right price. They are cheating and they were fined by Finra. Please Google it and see their bad business practice and how many lawsuit were filed against them and the penalties they paid.

      After closing my account they sent an email asking to transfer my IRA account to other brokerage firm. So I did a transfer to TradeUp second week of May but the Robinhood rejected my transfer. They only asked to transfer to other brokerage firm but they are not allowing the transfer. Initially they promised if I transfer IRA from other brokerage firm to Robinhood I will get 3% match as well as $75 transfer fee which they didn't honor. This is the fake advertisement. I did a transfer from Vanguard and they charged me $100 for outgoing IRA asset transfer. Also they sent email after closing the account I should receive the fund in 2 weeks. They closed in 05/14/2026 but still didn't receive the funds. They are using my money for their business. There are multiple lawsuits and fines paid by Robinhood to Finra. So please avoid this brokerage firm.

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      StaffRates

      Reviewed June 12, 2026

      This is my second time at trying to access an IPO through Robin Hood. Each time I was given significantly less shares than I had tried to a lot. I understand there's a process and you don't always get everything but this time all I ask for was six shares and I got one. It's almost impossible to get your money out of there. If you want to they make it so difficult and sometimes some people I'm sure just give up and leave it there to collect interest. But I wouldn't recommend Robin Hood to anybody

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      Customer ServiceSales & MarketingPunctuality & SpeedOnline & AppRates

      Reviewed June 8, 2026

      Robinhood banking has very poor customer service. It's slow & there is no call in number. You have to request a call back through the app. The banking product through the app offers attractive interest rates but is not clear in the direct deposit requirements. It simply states that you have to set up direct deposit. Apparently if it's not into the checking account instead of the savings, you lose the interest rate. Mine was dropped to 1.65%. After several calls, I was told the terms and they would not make me whole on the hundreds of dollars I lost in interest based on the unclear terms for May. I pulled all of my money & the direct deposit. I do not recommend using Robinhood Banking.

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      Staff

      Reviewed May 15, 2026

      I opened an account with them. My account is locked for no reason. I bought crypto about 1.5 years ago and that was all. Trying to sign on it comes up with reset your password. They say they will E-mail reset instructions which I don't receive. I have no problems with my E-mail address. I have been requested to have photos (selfies} and photos of drivers lic. 4 times. I have spent approximately 20 hours trying to resolve their request. My next letter is going to the Securities and Exchange. There are numerous complaints about the same issues something has to be done about this company maybe a class action lawsuit and then they will stop holding people's money.

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      Customer ServiceTechRefunds & PayoutsStaffBillingTimeliness

      Reviewed April 28, 2026

      Customer service sucks!!! Especially after this last phishing attempt on 4/26/2026. I tried to talk to a live person, took over 5 hours. They finally called me at 1130 PM to tell me they will have to freeze my account until 5/1/2026. A whole week? I keep my savings in a separate money market account with them. How can you trust them with over $1 million in personal funds when their customer service is crap. It’s a head scratcher and making me think I need to go back to using vanguard full time and just keeping Robinhood as a low balance account for some play money.

      So on top of this, next day, they pull over $3k from my personal checking account to pay my Robinhood credit card. I don’t have autopay set up, I manually set my payments. So they basically took $3k twice since I manually set up my payment to pay my statement balance. I call them to figure out what happen. They couldn’t answer my question and offered no solution even though my credit card balance was no in the negatives meaning they owe me money. I asked to speak to a supervisor and they say, "Sorry. Supervisors are only communicating by email." WTF?!!!! What kind of financial company is this!?

      Just don’t use them until they fix their horse. 💩 Customer service and get their heads out of their 🫏. I’d gladly pay a little more fee to have a responsive customer service experience that can fix issues and not hide behind the sorry they or we only communicate by emails. I wouldn’t trust them with over a few thousand in my account.

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      Customer ServiceHonesty & Transparency

      Reviewed April 27, 2026

      Fraudulent. Repeatedly. . Do not have a complaint. You will get hung up on over and over again including text, and the AI text bot, AI phone bot. As long as they do not "accidentally" sell something of yours ... You're fine. Or they will, rob, steal and lie with your money. Customer since 2016. Multiple times above has happened. Should have learned the first 3 times.

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      Robinhood Company Information

      Company Name:
      Robinhood
      Website:
      robinhood.com