Robinhood is a simple and free opportunity to try trading without any long-term commitment or money out of your pocket, making it a good tool for users who might want to buy an Apple stock or two. Of course, interested users would do well to download Robinhood and familiarize themselves with it.
The app, popular among millennials for its focus on mobile devices and ease of use, has about 6 million users and won an Apple Design Award in 2015 for its simplicity and user interface. Unlike some other stock tracking apps, Robinhood doesn’t charge commissions, meaning you can create an account and buy stocks for free.
If you once stopped trading and deactivated your Robinhood account, but now want to reactivate it, here’s how you can do it.
What is Robinhood
Robinhood is a stock brokerage platform available through iOS or Android, a web interface supported by most browsers, and a stripped-down watchOS app. While there are quite a few stock trading options on the App Store, Robinhood stands out for its clean, intuitive design and extremely low entry barrier.
One of the most attractive features of Robinhood, especially for young or new investors, is that it is completely free to use. There are no fees or commissions, and you don’t need to maintain a minimum balance or number of shares to open or maintain an account. The platform does have some limitations. It does not currently support trading options, futures, or other securities. If you’re just entering the market, this probably won’t be a problem, but it’s something to keep in mind.
How to reactivate Robinhood account
The “Reopen Account” page can allow you to restore your account if you have closed it. For example, you could close the account if the Robinhood debit card was lost. Regardless of account closure, you can still access the “Account Management” tab using your password and username. For example, you can change your password, check your fund status, or access your statements. So, if you want to reactivate your Robinhood account, you have to follow these steps:
- First of all, go the “Manage Account” section.
- Then, go to the “Settings” menu and tap “Reopen Account”.
- The page to re-open the account will appear. It is better to first update your market data subscriptions and trade authorization section before proceeding with your request.
It should be noted that re-downloading the app will not re-open your Robinhood account. The reason for this is that you must update your information and submit a request. The platform is required by law to retain certain records and books. The company values the data they collect. In any case, they are not going to use this information for any purpose other than fulfilling their requirements.
How long does it take to reactivate a Robinhood account
The company doesn’t provide an exact time frame for reopening an account. Nevertheless, the period of getting access to the closed account may vary from broker to broker. Most brokers state that the process can take up to 72 business hours after the request is submitted.
It is best to mention that the request will only be granted if you provide all the necessary documents. Another practical way to complete the procedure in a short amount of time is to contact directly an employee of the brokerage company whose services you use.
They will be able to open an account as quickly as possible. In general, it’s best to make sure you follow up on the procedure via email or chat to confirm your progress.
Splaitor doesn’t provide any investment, money management, or trading advice. Read our Disclaimer to know more.
