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Written by Sam Pennington on March 28, 2023
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How To Sell A Stock On Robinhood And Cash Out In 2024

Robinhood is a popular investment app that offers commission-free trading for stocks, ETFs, and cryptocurrencies.

Once you've bought a stock on Robinhood, you may decide to sell it and cash out your profits.

So, here's how to sell stock on Robinhood and cash out your funds.

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Robinhood IRA Boost

Here's what you need to know:

  • Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
  • All Robinhood investors will get a 1% Match on what they Contribute or Transfer
  • Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

Best Free Stock Promotions

BrokeragePromotionLink
Robinhood Logo1 Free Fractional Share Worth $5 To $200Learn More
Webull LogoEarn Up To 75 Free Fractional SharesLearn More
Moomoo Logo5 Free Stocks When You Deposit $100+Learn More
Acorns Logo$20 Bonus When You Invest $5+Learn More

How to Sell a Stock on Robinhood

To sell a stock on Robinhood, you first need to navigate to the stock's detail page. You can do this by searching for the stock in the search bar at the top right of the home screen or by scrolling through your portfolio until you find the stock you want to sell.

Once you've found the stock you want to sell, tap "Trade" at the bottom of the screen.

On the next screen, tap "Sell" to start the process of selling your shares.

In the upper right corner of the screen, you'll have the option to choose whether you want to sell your shares in dollars or shares. Choose the option that works best for you.

Before you submit your sell order, review the details to make sure everything is correct. You'll see the number of shares you're selling, the price you'll receive per share, and the total value of the sale.

If everything looks good, swipe up to submit your sell order. Your sell order will be executed at the next available market price.

How to Cash Out on Robinhood

Once you've sold your stock on Robinhood, you may want to transfer the funds to your bank account or debit card. Here's how to cash out on Robinhood:

To cash out on Robinhood, first select the account icon on the bottom right-hand corner of the screen.

Next, select "Transfers" from the menu.

Choose the Robinhood account you want to withdraw money from. If you have multiple accounts on Robinhood, make sure you select the correct one.

Select the linked account you want to withdraw the money to. This can be a bank account or a debit card. If your account qualifies, you'll see "Instant transfers eligible" next to the external account.

Enter the amount you want to transfer from your Robinhood account to your external account.

Before you confirm your transfer, review the details to make sure everything is correct. You may also see any associated fees listed here. If you're okay with the fees, confirm the transfer.

Finally, select "Transfer" to initiate the transfer of funds.

Fund Settlement

It's important to note that the settlement period for equities on Robinhood is the trade date plus 2 trading days (T+2), which means it takes two business days for your funds to settle after a sale.

After the third day, your proceeds will be available as withdrawable cash.

Conclusion

Selling a stock on Robinhood and cashing out your funds is a straightforward process.

By following these steps, you can easily sell a stock on Robinhood and transfer the funds to your external bank account or debit card.

Keep in mind that Robinhood has a T+2 settlement period, so you'll need to wait two days after a sale before your funds are available for withdrawal.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Sam Pennington
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
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Get 1 Free Stock Worth Up To $200 From Robinhood!

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