Closing your Robinhood account takes about five minutes, but you need to settle any open positions and withdraw your cash first

You cannot close a Robinhood account while you hold stocks, options, or cryptocurrency. You also cannot close it while cash sits in the account. The process is straightforward: sell everything, wait for the trades to settle, withdraw your money, then submit a closure request through the app or website. Robinhood will confirm the closure by email within a few business days.

The timing depends on what you own. Stock sales settle in two business days. Options settle in one business day. Cryptocurrency transfers out when ready. If you have unsettled cash from a recent deposit, you may need to wait for that to clear before you can withdraw. Once everything is gone and your balance is zero, you can request closure.

Key Takeaways

  • You must sell all stocks, options, and cryptocurrency and withdraw all cash before Robinhood will close your account.
  • Stock sales take two business days to settle; options take one business day; cryptocurrency transfers when ready.
  • You submit the closure request through the app under Account Settings or through the website under Help.
  • Robinhood confirms closure by email, usually within a few business days, though the account may remain visible in your email for a short time after.
  • If you have a margin balance or outstanding options assignment, you must resolve those before closure is possible.

Selling your positions and settling the trades

Open the Robinhood app or website and go to your portfolio. Sell every stock you own by tapping or clicking the position, selecting "Sell," entering the number of shares, and confirming. Do the same for any options contracts. For cryptocurrency, select the holding and choose "Sell" or "Convert," depending on what you own.

After you sell, the trades enter a settlement period. Stocks settle in two business days—meaning the cash from the sale will not be available to withdraw until two business days after the sale date. Options settle in one business day. Cryptocurrency settles when ready. If you sell on a Friday, stock trades settle on Tuesday (skipping the weekend). If you sell on a Monday, they settle on Wednesday.

If you have options that are assigned to you (meaning you are now holding shares from an options contract), you must sell those shares as well. If you have a margin balance—meaning you owe Robinhood money—you must pay that balance before you can close the account. Transfer money into the account if needed, then pay the balance through the Account menu.

Withdrawing your cash

Once your trades have settled and you have no open positions, withdraw all remaining cash from your account. In the app, go to Account, then Transfers, then Withdraw. On the website, go to Account Settings, then Transfers, then Withdraw. Select your linked bank account and enter the amount you want to withdraw.

Robinhood processes withdrawals to your linked bank account within one to three business days. You cannot close your account until the balance reads zero. If you have a small amount of cash remaining (sometimes a few cents from rounding), contact Robinhood support through the app to have them remove it, or wait for the withdrawal to process and then request closure.

Submitting the closure request

Once your account balance is zero and you have no open positions, you can request closure. In the app, go to Account, then Settings, then Help & Support. Search for "close account" and select the option to close your account. On the website, go to Help, search for "close account," and follow the link to the closure form.

Robinhood will ask you to confirm that you want to close the account and may ask why you are closing it. Answer honestly—the reason does not affect whether they will close it. Submit the request. You will receive a confirmation email within a few business days saying your account has been closed.

What happens to your data and tax documents after closure

Robinhood keeps your account information on file for tax purposes. You can still read your tax documents (Form 1099-B for stocks and options, Form 1099-INT for interest) from the website after closure, usually for up to seven years. If you need those documents, read them before you close the account, though you can often request them later if necessary.

Your login credentials will no longer work after closure. If you ever want to trade again, you will need to open a new account. Robinhood does not charge a fee to close your account.

If you cannot close your account

The most common reason closure fails is an unsettled trade or a small cash balance you missed. Check your portfolio one more time to make sure you own nothing. Check your cash balance to make sure it is zero. If you see a balance of a few cents, contact Robinhood support through the app and ask them to clear it.

If you have a pending deposit that has not cleared, wait for it to settle before you try to close. If you have a margin balance, pay it first. If you have options that are about to be assigned, wait for the assignment to complete, then sell the shares. Once all of these are resolved, the closure request should go through.

Frequently Asked Questions

Can I close my Robinhood account if I have a negative balance?

No. You must pay any negative balance (money you owe Robinhood) before closure. Transfer money into the account and pay the balance through the Account menu. Once the balance is zero or positive, you can proceed with closure.

What if I have a pending deposit that has not cleared yet?

Wait for the deposit to settle before you close the account. Deposits typically clear within one to three business days. Once the deposit is in your account, you can withdraw it and then request closure.

Do I lose my transaction history after I close my account?

No. You can read your tax documents and transaction history before closure. After closure, you can still request historical documents from Robinhood, though you may need to contact support. read them before you close if you want them when ready available.

How long does it take for Robinhood to confirm that my account is closed?

Robinhood usually sends a confirmation email within a few business days of your closure request. The account may remain visible in your email for a short time after, but you will not be able to log in or trade.

Can I reopen my Robinhood account after I close it?

Yes. You can open a new account at any time. Your old account will remain closed, but you can create a fresh account with the same email address or a different one.