Closing your Robinhood account takes about five minutes if your account is empty, but longer if you hold positions or cash

To close a Robinhood account, you log in, go to your Account settings, find the "Close Account" option, and follow the prompts. The app will ask you to confirm your identity and may require you to settle any open positions or transfer out any remaining cash before the closure completes. If you have stocks, options, or cryptocurrency, you must sell them or transfer them to another brokerage first — Robinhood will not close an account with holdings in it.

The process itself is straightforward, but the timing depends entirely on what you own. An empty account closes when ready. An account with positions may take days or weeks if you need to transfer securities elsewhere, because the receiving brokerage has to process the transfer on their end.

Key Takeaways

  • You must sell all stocks, options, and cryptocurrency or transfer them to another brokerage before Robinhood will close your account.
  • Any cash remaining in your account must be withdrawn to your linked bank account before closure is complete.
  • The account closure itself takes a few minutes in the app, but the full process can take weeks if you are transferring securities.
  • Robinhood does not charge a fee to close your account, and you can reopen one later if you change your mind.

Step-by-step process to close your account

Open the Robinhood app or website 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). Scroll down to find "Account Settings" or "Settings & Support" — the exact label varies slightly between the app and website.

Look for an option labeled "Close Account," "Deactivate Account," or "Account Closure." Tap or click it. Robinhood will show you a checklist of things that must be done before closure: zero balance in stocks, zero balance in options, zero balance in cryptocurrency, and zero cash balance. If any of these show a number other than zero, you cannot proceed until you address it.

Once everything reads zero, confirm your identity when prompted. Robinhood may ask you to re-enter your password or verify through your linked email. After confirmation, the account closes. You will receive an email confirming the closure, usually within a few minutes.

Selling positions and withdrawing cash before closure

If you own stocks, open your Positions tab in the app. Tap each holding and select "Sell." Choose how many shares to sell — if you want to close the account, sell all of them. Confirm the sale. The cash from the sale lands in your Robinhood cash balance when ready (or within minutes during market hours).

If you own options contracts, go to your Options tab and close each position by selling it back to the market. Options close the same way stocks do: tap the position, select "Sell to Close," and confirm. This also converts the position to cash in your account.

If you own cryptocurrency, go to your Crypto tab, tap each holding, and select "Sell." Robinhood converts crypto to dollars when ready. Once all positions are sold, your account shows only a cash balance.

To withdraw that cash, go to Account Settings and look for "Transfers" or "Withdraw Funds." Select the amount you want to move and choose your linked bank account as the destination. Robinhood typically moves cash to your bank within one to three business days. Wait for the transfer to complete before attempting to close the account — Robinhood will not close an account with a cash balance.

Transferring securities to another brokerage instead of selling

If you do not want to sell your positions, you can transfer them to another brokerage. This is called an ACAT transfer (Automated Customer Account Transfer). The receiving brokerage handles most of the work — you do not initiate the transfer from Robinhood's side.

Open an account at the brokerage where you want your securities to go. Once that account is open and verified, contact that brokerage's customer service and ask them to initiate an ACAT transfer from your Robinhood account. You will need to provide your Robinhood account number and the email address associated with it. The receiving brokerage will send a request to Robinhood, and Robinhood will process it.

ACAT transfers typically take three to seven business days. Once the transfer is complete and your securities appear in the new account, your Robinhood account will show zero holdings. At that point, you can close it following the steps above.

What happens to your account after closure

Once closed, you cannot log in to your Robinhood account. Your account data remains in Robinhood's system for record-keeping and tax purposes — they do not delete it when ready. If you need a record of your trades or cost basis for tax filing, read your statements before closing. You can request historical statements from Robinhood's website even after closure, though the process is slower.

You can open a new Robinhood account at any time after closure. There is no waiting period, and you can use the same email address and bank account. Your new account will be treated as a fresh account with no history tied to the old one.

Common reasons the closure process gets stuck

The most common reason closure fails is a non-zero cash balance. Even $0.01 remaining will block closure. If you see this error, go to Transfers, withdraw all remaining cash, and wait for it to clear your bank account before trying again.

Another frequent issue is unsettled trades. If you sold a position in the last two business days, the cash from that sale may still be settling. Robinhood will not let you close the account until settlement is complete. Wait two business days after your last sale, then try closing again.

If you have a margin account (a Robinhood Gold or Robinhood Margin account), you may have a margin balance or outstanding margin interest. Robinhood will not close a margin account with any debt. Pay off the margin balance first, then close.

Frequently Asked Questions

Can I close my Robinhood account if I have pending transfers?

No. If you have initiated a transfer of cash or securities to or from your account, Robinhood will not allow closure until the transfer completes. Wait for the transfer to finish, then close the account.

Do I lose my trade history if I close my account?

Your trade history remains accessible to Robinhood and to you for tax and record-keeping purposes. read your statements and cost basis reports before closing if you need them for your records. You can also request historical documents from Robinhood after closure, though it may take longer.

What if I have a Robinhood Gold subscription?

Closing your account automatically cancels your Gold subscription. You will not be charged further. If you have already paid for a Gold membership that has not yet expired, Robinhood does not refund the unused portion — check your subscription end date before closing if this matters to you.

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

If you have a negative balance (money owed to Robinhood), you must pay it off before closure. This typically happens with margin accounts or if a deposit was reversed. Pay the balance through your linked bank account, wait for confirmation, then close.

How long does it take to close my account after I confirm?

If your account is empty (zero positions, zero cash), closure is when ready — usually within minutes. You will receive a confirmation email shortly after. If you are transferring securities, the full process takes as long as the ACAT transfer, which is typically three to seven business days.