Robinhood is a new age commission-free stock trading app with a sleek user interface.
Fidelity, on the other hand, is one of the most well known financial institutions in the world.
If you're looking to transfer your brokerage account from Fidelity to Robinhood, here's how.
If you transfer an existing brokerage account to Robinhood through January 31st, 2024, you can get an Unlimited 1% Transfer Bonus.
For example, if you transferred a brokerage account worth $50,000 - that would be a bonus of $500.
In addition, Robinhood offers a free stock for new users as well as a 1% IRA match for retirement accounts.
Robinhood allows users to transfer in eligible assets through the Automated Customer Account Transfer Service knowns as ACATS.
Fidelity doesn't charge any fees to transfer out your brokerage account.
The following assets can be transferred over from Fidelity to Robinhood:
Unfortunately, these assets are not supported by Robinhood:
The first step you need to take is setting up your new brokerage account with Robinhood.
If you already have an account with Robinhood, you can move on to the next step.
Use the button above to get a completely free stock when you sign up!
In order to transfer your account from Fidelity to Robinhood, you will need your Fidelity account number.
This is available by logging into your account. After you log in, you will be able to see your account number underneath the title of the account.
For example, if you have an individual brokerage account, you will see your account number underneath "Individual."
Once you have opened a brokerage account with Robinhood, the next step is to initiate the transfer within Robinhood. This is only possible via the Robinhood app, so you will want to download this onto your phone.
If you already have a Robinhood account, then you can follow the steps below to transfer your account: