Is Robinhood Down? Users Report App Not Working

Robinhood, the mobile investment app, appeared to be experiencing outages on Monday morning.

As of 9.51 a.m. ET, the internet disruption platform Downdetector had 3,395 reports of an issue with the app. Downdetector pointed out that 76 percent of the reported problems were from mobile users and 22 percent came from the website. A further 3 percent suggested there were issues with logging on to the platform.

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Downdetector says that it "only reports an incident when the number of problem reports is significantly higher than the typical volume for that time of day."

Robinhood's X account for support posted a message that acknowledged it was experiencing some disruptions.

"We're experiencing an interruption in service for some users and are working to resolve it as soon as possible. We are working on a solution. Stay tuned for updates, we apologize for the inconvenience," the post said.

Newsweek contacted Robinhood for comment via email on Monday morning.

Robinhood, which is popular with retail investors, has more than 24 million "funded customers," which it defines as individuals with at least an account on the platform with a balance that is more than zero. The company had $135 billion in assets under the custody of the platform as of end of May, according to the firm.

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The company has been expanding its offerings, growing its cryptocurrency business recently, while also providing products like retirement investing and credits cards.

The platform now offers users the ability to trade beyond the typical trading hours when markets are open between 9:30 a.m. ET to 4 p.m. ET during the New York market working week.

Investors on the platform can have access to trade in shares after hours. The company has said this is to allow its users to buy and sell shares when publicly-listed firms announce earnings when markets are closed or given the ability to react to activity from foreign exchanges

"Depending on the outcome, the stock's price can move much more than it would during the regular-hours session," Robinhood said. "Foreign markets, such as Asian or European markets, can influence prices on U.S. markets. Activity on these markets happens outside regular U.S. market hours."

Some Robinhood users took to X, formerly Twitter, to complain of an outage.

Other users took to the social media website Reddit to complain about issues with their access to the platform. An individual with a username Kate Chi asked on the platform whether anyone else was experiencing issues. "It says I have no money in my account, which isn't true," they said.

Another user noted that their app was acting up as well.

"Just says network issue. I can still see my crypto, but stocks and chart is gone," Substantial-Spot-779 said.

Update 07/1/2024 11:40 a.m. ET: This article has been updated with further information.