Quick answer: The most common Robinhood scam is a fake text or email saying a withdrawal is pending or giving you a “withdrawal code”, with a phone number to call. The caller pretends to be Robinhood support and tries to get your login, 2FA code or money. Robinhood says it will never ask for your password or two-factor code, never ask you to install remote-access software, and has no direct-dial support number — help is requested in the official app. If you get a message like this, don’t call or click; open the Robinhood app yourself to check.
Scammers target Robinhood users because the brand is well known. This guide shows the common tricks, the warning signs and exactly what to do.
Common Robinhood scams
| Scam | How it works |
|---|---|
| Fake withdrawal alert | Text says a withdrawal is pending; “call to cancel” |
| Withdrawal code text | Fake code plus a number to call; caller asks for your real code |
| Fake support numbers | Numbers posted online or in ads pretending to be Robinhood |
| Phishing websites | Look-alike login pages steal passwords |
| Remote-access scam | “Support” asks you to install screen-sharing apps |
| Investment “mentors” | Strangers on social media offer to manage your account |
| Crypto giveaways | “Send crypto to get double back” |
The “withdrawal code” text scam explained
You receive a text like: “Robinhood: Your withdrawal of $1,850.00 is processing. If this wasn’t you, call 1-8XX-XXX-XXXX. Code: 482193.” It feels urgent. If you call, a friendly “agent” says your account is under attack. They ask you to read out a code you’re about to receive — which is actually a real login or reset code — or to “verify” your password. With it, they take over your account, change the bank or withdraw money. Some ask you to install screen-sharing software or move money to a “safe account”. Every part of this is a scam.
Warning signs
- Urgent tone: “act now”, “your account will be closed”.
- A phone number to call in a text or email.
- Requests for passwords, 2FA codes or Social Security numbers.
- Requests to install apps like remote desktop tools.
- Links to sites that aren’t robinhood.com.
- Pressure to move money or buy gift cards or crypto.
What to do if you get a suspicious message
- Don’t click links or call numbers in the message.
- Open the Robinhood app yourself and check your transfers and notifications.
- If something looks wrong, contact Robinhood support through the app or robinhood.com/contact.
- Forward scam texts to 7726 (SPAM) and delete them.
- Report phishing to the FTC.
If you already shared information
- Change your Robinhood password immediately from the official app.
- Reset two-factor authentication and remove unknown devices.
- Contact Robinhood support in the app and explain what happened.
- Check your linked bank and contact your bank if needed.
- Uninstall any remote-access software you installed.
- Change passwords on your email and any account sharing the same password.
- Consider a credit freeze if you shared your Social Security number.
How to protect your Robinhood account
| Action | Why it helps |
|---|---|
| Use an authenticator app or security key for 2FA | Harder to steal than SMS codes |
| Use a unique password | Stops attacks from other leaked passwords |
| Add a PIN to your phone carrier account | Prevents SIM-swap attacks |
| Turn on alerts | Spot logins and transfers fast |
| Bookmark robinhood.com | Avoid fake search ads |
| Secure your email | Email is the key to password resets |
More in our Robinhood safety guide.
Fake support numbers online
Search results, social media posts and even some websites list fake “Robinhood customer service” phone numbers. Robinhood’s own help pages say there’s no direct-dial support line to reach a live agent; instead, you request a callback in the app. Any number promising instant live help is suspect. Our upcoming customer service guide explains the real ways to reach Robinhood.
Social media and “investment mentor” scams
Scammers pose as successful traders on social media or messaging apps, promise huge returns and ask for your login or for you to deposit money into “their” platform. Legitimate advisers never need your Robinhood password. Never let anyone else trade your account.
Crypto scams
- “Send 0.1 BTC and get 0.2 back” giveaways — always fake.
- Fake wallet apps or browser extensions using Robinhood’s name.
- Fake airdrop or token sites asking you to connect your wallet.
- Romance scams that lead to crypto “investments”.
Crypto transfers can’t be reversed. Only use official apps and double-check addresses. See Robinhood crypto.
A real-world example
At 7 a.m., Tara got a text saying a $2,400 withdrawal from her Robinhood account was pending. Panicked, she nearly called the number. Instead she opened the Robinhood app, saw no withdrawal and realised it was fake. She forwarded the text to 7726 and switched her 2FA from SMS to an authenticator app. Her friend, who did call a similar number, had to spend days recovering his account.
Signs your account may be compromised
- Login alerts from devices you don’t recognise.
- Changed email, phone or bank details.
- Trades or transfers you didn’t make.
- Unexpected password reset emails.
If you see any of these, secure your account and contact Robinhood support immediately through the app.
Teach family members
Older relatives and new investors are frequent targets. Share these three rules with them, help them turn on two-factor authentication and show them how to open the app to check their account. A few minutes of help can prevent serious losses.
Where to report
- Robinhood — through the app or robinhood.com.
- Your mobile carrier — forward texts to 7726.
- The Federal Trade Commission — reportfraud.ftc.gov.
- The FBI’s Internet Crime Complaint Center for larger losses — ic3.gov.
Fake websites and ads
Some scams start with a search ad that looks like Robinhood’s official site. The page copies Robinhood’s design and asks you to log in. Always check the address bar shows robinhood.com and use a bookmark or the app. Password managers help because they only fill your login on the real site.
Related guides
FAQ
Does Robinhood send withdrawal codes by text?
Robinhood may send verification codes, but it will never ask you to share them. A text urging you to call a number is a red flag.
What is Robinhood’s customer service number?
Robinhood has no direct-dial number for live help; request a call through the app.
I shared my code — what now?
Change your password, reset 2FA and contact Robinhood support in the app immediately.
How do I report a Robinhood scam?
Report through the app or Robinhood’s official site, and forward scam texts to 7726 (SPAM).
Can scammers steal my money from Robinhood?
If they get your login and codes, they can try. Strong security makes it much harder.
Summary
Robinhood scams rely on urgency and fake support. Remember three rules: never share codes or passwords, never call numbers from unexpected messages, and always check by opening the official app yourself. This guide is educational; for account problems, contact Robinhood directly.
RobinhoodTradeApp Guide is an independent website and is not affiliated with, endorsed by or sponsored by Robinhood Markets, Inc. This article is for educational purposes only and is not financial, investment or tax advice. Fees, rates and features change often, so always confirm details on Robinhood’s official website. Investing involves risk, including the possible loss of principal.
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