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With Robinhood, one gets an online platform for commission-free US stock trading. This mobile and web trading platform is user-friendly, reliable and well designed. On Robinhood, the account opening is seamless, completely digital, and quick. Some of the pros of this app are free US stock and ETF trading, incredible online interface platforms, and hassle-free account opening.
Are you having a locked account on Robinhood? If you’re an active trader then these restrictions on your brokerage account can be inconveniencing and frustrating. When your account gets locked, you can lose the lucrative opportunity of investment and trading. However, it happens many times for Robinhood users. Why is my Robinhood account restricted and How to unlock the Robinhood account?
There are so many queries that come to mind related to Robinhood account locking. Go through this blog to know more about this unlocking process-
There could be different reasons for account locking on Robinhood. Depending on the reason for the account locking or restriction, it can take a few days to a month to unlock your account. The exceeding day trading limits on a Robinhood account can cause an account to be restricted for more than 90 days.
Yes, Robinhood can lock your account anytime if its policy is not fulfilled. When you declare yourself as a control person of a company, you will typically get restricted from trading the stock.
Restrictions on your account can be placed for different reasons. Let’s have a look at some of these reasons for account locking on Robinhood-
Here are possible reasons for which you might get locked out of your Robinhood account-
If you’re having Robinhood Gold or Robinhood Instant accounts and your account is locked then you can perform only three day trades every week. If you’re doing more than this then your account might get blocked for 90 days. To prevent this situation, you have to maintain a balance of at least $25,000.
If you are having a restriction on your Robinhood financial account then this will prevent you from buying stocks and cryptocurrencies. Also, you won’t be able to use the Robinhood Crypto account until the restriction is removed.
How to unlock Robinhood account? If you want to remove a restriction from the Robinhood account or cover an issue of any negative balance and then you just need to contact Robinhood team to resolve this issue.
By 7qasearch at 2021-10-11