I had raised a complaint with Robinhood for missing funds from my robinhood account. I had sold bb on 28th Jan and the trade was settled on 1st Feb and the cash was added to my rh account. On 3rd feb, ACAT happened to fidelity. But the cash received from sale of bb was never received, so I raise a complaint with rh. After 1 month they replied back with that instead of selling, they transferred bb to fidelity. This happened due to a technical issue on their end. During that period, bb fell by more than half and I lost so much money. I have been trying to get back to rh multiple times to pay for my monetary loss due to their mistake but no reply on their end. So frustrated right now. Do I involve a lawyer? They transferred the assets even though the sell trade was already settled- is this even possible? Looking at the activity sheet which they have provided me, it shows after the trade settlement on 3rd Feb, the assets were again bought back without my knowledge on 4th Feb at 50% cheaper than the sell price on 28th Jan. Robinhood is clearly stealing money. #robinhood
Haha classic rh. Beyond me why anyone still uses rh
Something similar happened to a couple of folks who reached out to a newspaper, rh ran for their life and helped them
Tell me exactly what did they do. I need to do the same. Looking for cheaper ways than consulting a lawyer and letting more money go.
I don't know what "exactly" they did but I will try to post the same article I read over here if I find it again.
Similar happened with me. I initiated transfer to RH using RH app. Money got deducted from my bank acct instantaneously. Cancelled the transfer, again using RH app, before the money got deposited in RH. The money never returned to my bank account. It has been almost three months. Wrote several emails to RH, no response beyond generic autoreplies.. They do not have any phone support. Don't know what to do.
A broker's failure to follow directions that results in a loss for you can entitle you to win attorney's fees in court, so you may be able to get a lawyer for no money up front and ultimately on Robinhood's dime. Search for "broker failure to follow directions" and you can find a few firms who specialize in this sort of thing. A consultation with one should be free.
Thank you so much. I will do that. Actually this is a completely win case anyways since they already accepted the mistake. I am thinking of suing for a even larger sum for causing these emotional trouble, not sure if that is possible though.
You will not get emotional damages. Stick to your actual costs
Mine they replied and accepted their mistake or whatever but no replies beyond that for the money I lost.
Robinhood lost my money too what a shithole of a company
No serious investor would use rh. You deserve this.
Lawsuit time perhaps? Honestly before transferring u should have just cashed out done before transfer from robinhood
Yes huge mistake but that cannot be reverted now. So will probably have to file a lawsuit and spend more money on that. Robinhiod sucks!