WikiFX

Reply

As an experienced forex trader, I always prioritize the security and reliability of fund transfers when evaluating any trading platform. With Robinhood, my research and personal review highlight substantial concerns in this respect. Based on my direct observations, Robinhood requires users to link a traditional bank account for funding their brokerage account—credit card, PayPal, Skrill, or cryptocurrency funding options are not mentioned or supported within their process. This is generally standard for many U.S.-based brokerage platforms due to regulatory and compliance reasons. What raises significant caution for me, however, are the numerous verified user reports of severe withdrawal challenges. Several users describe scenarios where, after initial deposits and some early withdrawals, the platform began requiring substantial, unusual "anti-money laundering deposits" before permitting further withdrawals. Requests for such large upfront payments to access your own funds are deeply abnormal in the industry, signal potential fraud, and present a substantial risk to your capital. Some users also report being blocked by customer service after attempting withdrawals, with funds remaining inaccessible. Given these persistent and highly concerning reports, as well as Robinhood’s lack of regulatory oversight, I cannot recommend using this platform for deposits or withdrawals of any kind. When dealing with your own capital, especially in the world of trading, transparency and reliable fund access are non-negotiable. For me, these risks outweigh any convenience Robinhood’s interface might offer. I strongly advise extreme caution and would not trust my own funds with this broker.