If you are an active user of Robinhood, then you might be knowing that it is one of the most popular online brokers. It has more than 10 million users as of now. The company was founded in 2013 and is headquartered in Menlo Park, California. The company allows its users to invest in stocks, options, ETFs, and cryptocurrency without any commission fees.
Robinhood has been gaining popularity day by day and has been in the news for both good and bad reasons. If you are someone who is no longer interested in using Robinhood or if you have found some other better broker, then you might be looking for a way to delete your Robinhood account.
In this article, we will be discussing how you can delete your Robinhood account and address some of the frequently asked questions related to it. But before that, let us first see the reasons why someone would want to delete their Robinhood account.
Reasons For Deleting Robinhood Account:
There can be many reasons for which someone might want to delete their Robinhood account. Some of the most common reasons are mentioned below:
1. You are no longer interested in using Robinhood.
2. You have found some other better broker.
3. The recent GameStop short squeeze has made you lose faith in the company.
4. You want to close your account because of the allegations against the company regarding its involvement in the GameStop short squeeze.
5. You want to close your account because of the recent Robinhood outage.
How To Permanently Delete A Robinhood Account?
If you have made up your mind and want to delete your Robinhood account, then follow the steps mentioned below:
1. Open the Robinhood app on your smartphone and log in to your account.
2. Tap on the three lines present at the top left corner of the screen.
3. Scroll down and tap on ‘Account’ present at the bottom of the menu.
4. Tap on ‘Close Account’ present at the bottom of the screen.
5. Enter your password to confirm that you want to delete your account and tap on ‘Close Account’.
Your account will now be deleted permanently and you will no longer be able to use it.
This is how you can delete your Robinhood account permanently.
How To Delete a Robinhood Account Before Approval?
If you have applied for a Robinhood account but haven’t received the approval yet, then you can delete your account by following the steps mentioned below:
1.Open the Robinhood website on your computer and log in to your account.
2.Click on ‘Account’ present at the top right corner of the screen.
3.Click on ‘Close Account’ present at the bottom of the screen.
4.Enter your password to confirm that you want to delete your account and click on ‘Close Account’.
Your account will now be deleted permanently and you will no longer be able to use it.
This is how you can delete a Robinhood account before approval.
How To Delete My Bank Account From Robinhood?
If you want to delete your bank account from Robinhood, then follow the steps mentioned below:
1. Open the Robinhood app on your smartphone and log in to your account.
2. Tap on the three lines present at the top left corner of the screen.
3. Scroll down and tap on ‘Account’ present at the bottom of the menu.
4. Tap on ‘Linked Accounts’ present at the bottom of the screen.
5. Tap on the bank account that you want to delete and then tap on ‘Unlink Account’.
6. Enter your password to confirm that you want to delete your bank account and tap on ‘Unlink Account’.
Your bank account will now be deleted from Robinhood.
Can I Be Referred If I Delete My Robinhood Account?
If you delete your Robinhood account, then you will not be eligible for the referral program. This is because the referral program is only available for active accounts.
This is because when you delete your Robinhood account, all your data is deleted from the Robinhood servers. This includes your referral code as well.
So, if you want to refer someone to Robinhood, make sure that you do not delete your account.
Can You Delete A Robinhood Account With A Negative Balance?
Yes, you can delete your Robinhood account even if it has a negative balance. This is because when you delete your Robinhood account, all your data is deleted from the Robinhood servers.
This includes your account balance as well. So, even if your account has a negative balance, you will not be liable for it after you delete your account.
How To Delete A Robinhood Account Without A Password?
If you have lost your password and want to delete your Robinhood account, then follow the steps mentioned below:
1. Open the Robinhood website on your computer and log in to your account.
2. Click on ‘Account’ present at the top right corner of the screen.
3. Click on ‘Close Account’ present at the bottom of the screen.
4. Click on ‘Forgot Password’.
5. Enter your email address and click on ‘Send Reset Link’.
6. Check your email for the password reset link and click on it.
7. Enter a new password and click on ‘Reset Password’.
8. Log in to your account with the new password and click on ‘Account’ present at the top right corner of the screen.
9. Click on ‘Close Account’ present at the bottom of the screen.
10. Enter your password to confirm that you want to delete your account and click on ‘Close Account’.
Your account will now be deleted permanently and you will no longer be able to use it.
This is how you can delete your Robinhood account without a password.
Can You Delete a Robinhood Account Without Closing Your Positions?
Yes, you can delete your Robinhood account without closing your positions. This is because when you delete your Robinhood account, all your data is deleted from the Robinhood servers.
This includes your open positions as well. So, even if you have open positions, they will be closed automatically when you delete your account.
How To Delete a Robinhood Watch List?
If you want to delete a Robinhood watch list, then follow the steps mentioned below:
1. Open the Robinhood app on your smartphone and log in to your account.
2. Tap on the three lines present at the top left corner of the screen.
3. Scroll down and tap on ‘Watchlists’ present at the bottom of the menu.
4. Tap on the watch list that you want to delete and then tap on the three dots present at the top right corner of the screen.
5. Tap on ‘Delete Watchlist’ present at the bottom of the screen.
6. Enter your password to confirm that you want to delete the watch list and tap on ‘Delete Watchlist’.
Your watch list will now be deleted from Robinhood.
Conclusion
In this article, we have discussed how to delete a Robinhood account as well as a Robinhood watch list. We have also discussed if you can be referred after deleting your Robinhood account and if you can delete a Robinhood account with a negative balance. Finally, we have also mentioned the steps on how to delete a Robinhood account without a password.
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