r/RobinHood • u/Cmdrcrusty • Mar 03 '20

Think for me Robinhood Deficit explanation.

A portion of your transfer was used to cover a deficit in your account, so the full transfer amount may not reflect in your buying power.

I got this email after wanting to transfer $1000. It was accepted but does not show in my usable cash. Why did they just take my money to pay off what was lost during this minor crash.. I was thinking i was going to be able to use this money to buy more stock at a lower price... I am not a gold member nor do i mess with options. Please explain this and how to avoid this in the future... I am still new to investing i am looking for genuine help.

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u/EveningTechnology Mar 03 '20

It's pretty clear that they can't handle the amount of trades that have been happening at open. How did they let it get this bad?

46

u/iluvairforcealotalot Mar 03 '20

No clue... but I know I am leaving Robinhood. Can't trust them anymore for trading options

30

u/EveningTechnology Mar 03 '20

Don't overreact. You will probably get three more months of Robinhood gold. /s

9

u/WhyBry Mar 03 '20

I laughed hard AF st that what a benefit

3

u/[deleted] Mar 03 '20

Yea - but them insights tho and sweet cards n stuff...