When a user’s Robinhood account is locked for whatever reason, the business uses the term “restricted” to describe the status of that account.
Reasons can vary from suspicious conduct, failure to fulfil trading volume minimums, failure to submit appropriate personal information upon signup, etc., but the ultimate result is always the same: restricted status on your account with no access to cash.
My RobinHood Account Has Been Blocked, But Why?
The website application allows you to view the current status of your account. When you log in and get the message “Your account is limited,” it signifies your account falls into one of the following categories:
The three-day deadline for a bank transfer to fill your account has passed without action from you.
- It has been less than 6 days since your last cash withdrawal.
- You have made an early deposit of cash (before the 6-day grace period has expired).
- Any suspicious conduct may result in Robinhood account suspension.
If you have questions concerning the reason for your account limitation, you can email [email protected].
Why Can’t I Buy RobinHood With This Account?
There could be several factors preventing you from buying Robinhood with your account.
We are temporarily limiting your ability to buy and sell stocks because we have detected potentially fraudulent activity on your account. Additionally, it’s conceivable that your daily spending cap has been met.
For everyone’s safety in times of market uncertainty, Robinhood sets individual purchasing limitations. Once you’ve spent your daily budget, you can’t shop till the next day. Finally, it’s possible that Robinhood is sold out of the stock you want to purchase.
Is There a Time Limit on How Long Robinhood will Keep My Account Frozen?
It all depends on the justification for the limitation. If your account is limited because of a violation of the Terms of Service, the length of the limitation and the severity of the violation will be taken into account.
Robinhood’s standard policy is to limit or delete your account if you break the rules more than once. If your account has been temporarily locked because of an issue with your bank or because Robinhood is attempting to protect you from fraudulent conduct, we will typically restore access within a few days.
It may take more time, though, if there is a problem that requires more information to fix (like a banking problem).
When I Try to Withdraw Funds From My Robinhood Account, I’m Told that I have a Withdrawal Restriction. Why is that?
Withdrawals may be temporarily frozen if your account has been dormant for an extended period. Robinhood’s website features a “Visitor?” link, which you may use at any time to see what’s going on with your account.
I hope this doesn’t leave you feeling more confused than before, but be assured that all of our customer support agents are doing their absolute best to help you.
If a customer’s account has been locked due to inactivity and their balance has risen to $1,000 or more within 30 days, they can regain access to their funds by completing the steps outlined below. access your Robinhood account, and then complete the online form.
To learn more about account verification, please visit this page.
It’s also possible that you don’t have access to Robinhood’s Crypto trading services since you live in a state where the company has yet to debut.
You can now use Robinhood to buy and sell cryptocurrencies in 30 US states.
If you want to know if Robinhood is available in your state, you may do so by visiting this page. Lastly, it’s possible that your account has been blacklisted due to questionable behaviour.
How can I Disable Robinhood’s Day Trading Limit?
With the appropriate information, you can quickly and easily lift Robinhood’s day trade limits.
Day trading is not regarded part of a trader’s security plan, which is one of the three fundamental principles traders must follow to be in compliance with securities law.
Investors in the United States have an advantage over their competitors due to the stringent documentation and assessment required by brokerage firms under US securities rules before granting traders access to conduct deals.
Third, trading in real time should only be done for risk management purposes during times of high volatility or other noteworthy events (such as flash crashes).
A Few Closing Remarks
Even though Robinhood’s trading platform is free of charge and commissions, your account may be temporarily frozen if suspicious activity is detected. Thanks for reading our article Robinhood Your Account is Restricted From Purchasing.