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Written by Ryan Scribner on May 30, 2024
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How To Sell A Stock On Robinhood And Cash Out In 2024

Robinhood is a popular investing 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. There are a few steps involved with this process that we will dive into.

Here's how to sell stock on Robinhood and cash out your funds.

New to Robinhood? Check out my tutorial for beginners below!

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.

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1. How To Sell A Stock On Robinhood

First of all, in order to cash out funds from Robinhood, you may need to sell a stock, ETF or crypto that you own.

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.

Robinhood how to sell a stock

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.

Assuming you used a market order, your sell order will be executed at the next available market price.

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.

So if you just sold off an asset in Robinhood, you might need to wait 3 business days before you can cash out.

2. How To Cash Out On Robinhood

Once you've sold your stock on Robinhood and the funds have settled, you may want to transfer the funds to your bank account or debit card.

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

Next, select "Transfers" from the menu.

Choose the account you want to withdraw money from - which will be Robinhood if you are looking to withdraw funds to your bank account.

Robinhood how to cash out funds

Select the linked account you want to withdraw the money to. This can be a bank account or a debit card.

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. Robinhood offers instant transfers for a fee, but standard transfers come with zero fees.

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

The transfer can take up to 3 to 5 business days to reflect in your bank account. If you choose an instant transfer, it will normally show up within just a few minutes.

Article written by Ryan Scribner
Ryan Scribner is the Co-Founder of Investing Simple and author of the personal finance book ‘From Side Hustle To Main Hustle To Millionaire’ (available on Amazon and at Barnes & Noble). He is recognized as a Top 100 Money Expert by GoBankingRates. Ryan Scribner runs a successful YouTube channel focused on money and investing, which he started in 2016. Scribner was exposed to the finance world early on with a dad who is a financial advisor. Before he started his YouTube channel, he was working and making a surplus of money which he began investing on his own. Then he started to document it on his YouTube channel, before launching the Investing Simple blog in 2018. Ryan Scribner has used his own experiences with money to show others what he’s done to be successful so that they can learn from it. He has been featured in The Wall Street Journal in a publication on The Financial Gurus Millenials Listen To. In addition, Ryan Scribner has been featured in MarketWatch, Business Insider and Forbes - where he was recognized as the #1 Must Watch YouTube Channel For Making Money.

Read more

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Get 1 Free Stock Worth Up To $200 From Robinhood!

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Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

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