Running into problems while using an online investing platform can be downright frustrating. Whether it’s a software issue or you are having trouble understanding something, you will want to be able to get help immediately.
Unfortunately, you won’t be able to find live customer support on the Robinhood app.
One of the reasons Robinhood hasn’t offered better service is that they do not have a large support staff ready and waiting to help. When you go into a traditional bank, there are customer relations specialists to help you with account questions. Many of these technology-based platforms lack a sufficient number of experts to handle incoming phone calls.
Keep in mind, Robinhood offers commission free trading. They have to cut costs somehow to stay afloat, and limited customer service is one of the areas.
Most companies out there prefer you find answers yourself on their website. In fact, if you do call them, their first message usually refers you back to their site.
Robinhood has a toll-free number to call (650) 940-2700, but if you do dial up, you will be redirected to the website or to another way to reach them. This is done by a pre-recorded message. Again, you will not reach a customer support person.
There are a few other ways to reach the platform with questions, but don’t expect an immediate reply.
Some investing platforms offer live chats to reach a support person, but you won’t find this option on Robinhood.
Robinhood is a commission-free trading platform that was one of the first in its field. It was founded nearly 10 years ago. Robinhood lets people trade stocks, ETFs, options and cryptocurrency completely free. There are no strings attached or hidden fees of any kind.
The platform has started offering fractional shares, which are parts of a whole stock whose price tag might be out of your reach. Fractional shares let you invest with as little as $1.
Even though customer support is very limited, the good news is that Robinhood is a user-friendly app. Experts designed it to be one of the simplest investing apps out there. There’s a learning page that covers everything from the basics of how to invest to more intermediate subjects about diversification. This is a good starting point.