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FTC sees surge in Robinhood complaints as clients claim they can’t leave the app

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The logo of trading app Robinhood is displayed on a smartphone.

Olivier Douliery | AFP via Getty Images

A U.S. consumer watchdog saw a surge in complaints regarding Robinhood last week, with some clients claiming they were unable to liquidate holdings and move to other brokerage firms.

The Federal Trade Commission received more than 100 Robinhood-related reports from January 24th through February 2, according to the agency. The prior week brought in seven such complaints. Agency data on other firms were not immediately available.

Last week was chaotic for trading platforms as investors piled into GameStop, AMC and other high-flying stocks. Robinhood restricted trading of as many as 50 names…



Source cnbc.com

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