Robinhood review: Online broker

When I transfer the funds to my bank account, it shows "the amount available" for transfer. As you explained, if the funds are not settled, technically it's not available for transfer. Or Robinhood should indicate "the funds are in settlement status and not available for immediate transfer".

The misleading information caused me to pay over $78 for margin interest as a detrimental reliance on such statements. As shown on the picture, it shows "cash in the broker account", instead of "funds in transit" or "funds in settlement". Such representation is inappropriate. As a result, I'm requesting a full refund of the interest charged based on the misleading representation made by Robinhood. In the eyes of law, "Brokerage Cash" doesn't include unsettled funds. Please see the definition from wiki "Brokerage cash is the amount of uninvested cash in your investment account. It's a top-line number, meaning it does not factor in unsettled trades or margin collateral, and so it's possible not all of the cash is available to invest or withdraw."

Please let me know if you need further evidence and explanation to understand the situation better.