Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #5187244
Complaint Overview
Complaint ID: 5187244
Company: Robinhood Markets INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Refund anticipation check
Issue: Fraud or scam
State: Illinois
ZIP Code: 60630
Date Received: 2022-02-05T12:00:00-05:00
Date Sent to Company: 2022-02-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
ROBINHOOD UNAUTHORIZED TRADE ON XX/XX/XXXX To Whom It May Concern : After many unsuccessful months of trying to resolve my issue with Robinhood I finally contacted XXXX XXXX, a well known financial advisor on our local TV station. She recently replied to my question and I am now taking her advice and contacting Robinhood, again, the XXXX and the XXXX XXXX XXXX XXXX. Today, XX/XX/XXXX I just tried to file a dispute with Robinhood with the instructions that XXXX XXXX sent me, XXXX XXXX XXXX it said that this page was not found. Another dead end. On XX/XX/XXXX sent {$1000.00} to Robinhood. On XX/XX/XXXX I purchased XXXX shares of XXXX stock at {$250.00} a share for a total of {$750.00}. On XX/XX/XXXX XXXX had a XXXX split. My unauthorized trade occurred on XX/XX/XXXX, XXXX shares at {$130.00} for a total of {$1600.00}. I never received the money from that sale and looking at my account history there is no mention of where that money is. I also bought XXXX shares of XXXX and Robinhood still holds that stock Below is an account of what transpired : On XX/XX/XXXX at XXXXXXXX XXXX XXXX, in the presence of a good friend, I called Robinhood and spoke with Customer Service Agent, XXXX XXXX. I told him that I wanted a statement sent to my home and also wanted to transfer my account. He told me that I would need to change my password. I didnt want to do it but he insisted. After I changed the XXXX I received a notice on my phone of a trade of my XXXX stock. I told him I hadnt authorized this and he needed to cancel this trade immediately. He said he couldnt. I asked to speak to his manager and was disconnected. I tried to call back but the number was blocked. My friend called on her phone at XXXX XXXX XXXX and was able to speak to XXXX XXXX. She asked XXXX XXXX to transfer her to a manager. XXXX made the transfer. She waited XXXX minutes and then was also disconnected. When she tried to call back she was also blocked. After this I went home and tried to file a complaint with XXXX at XXXX and the XXXX. I never received a response. I also never requested the money from the XXXX XXXX XXXX as I wanted to have them reinstate the unathorized trade and was waiting to see how I could talk to an actual person. Thank you for your assistance in this matter. XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, IL XXXX XXXX XXXX
Frequently Asked Questions
What is Complaint #5187244 about?
Complaint #5187244 was filed against Robinhood Markets INC. regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2022-02-05T12:00:00-05:00.
How did Robinhood Markets INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Robinhood Markets INC.?
Yes, visit the Robinhood Markets INC. company profile at readthecomplaint.com/company/robinhood-markets-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.