United States – Robinhood

Robinhood has empowered Americans to start investing by adding 3 million new users in the first quarter of 2020. But now its users say that their accounts were looted while there was no one to call. In response, the no-fee brokerage app says that the criminals targeted customer emails since their systems have not been breached. Consumer protection agencies have 473+ complaints nearly four times more than any of its competitors about outages during extreme market volatility. Robinhood’s lack of customer service and application downtime in the recent months have led to thousands of dollars worth of loss for its users. The SEC and FIRA are investigating the instance.