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WARNING - Robinhood MARGIN is BUGGED, and customer service refuses to acknowledge this, fix it.

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by COINS NEWS 132 Views

I do work with several robinhood accounts, as a supervisor.

3 of the accounts were fine - if you had no asset and only Cash - then the "available to buy" showed correctly, at 2x

So with $10,000 cash - your buying power is $20,000 - with full margin. This is correct.

HOWEVER - one of the accounts with $10,000 cash - had a buying power of $40,000 ($30K debt).

THIS WILL INSTANTLY THROW YOUR ACCOUNT INTO DEFAULT.

After 90 minutes with customer chat support - who constantly reiterated that $10,000 x 4 is $40,000... and me saying that's MAINTENANCE - not INITIATING (borrow limit) - I got no where.

I am now on to a phone call with a super - because they refuse to text. But I WILL escalate this - this is throwing accounts IMMEDIATELY into default!

I hope you guys are catching this if it has happened to you..

submitted by /u/Bitcoin1776
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