If you're looking to transfer your assets from Firstrade to Robinhood, here is our step by step guide.
This is possible through the ACATS transfer service.
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.
Be aware that Apex Clearing (Firstrade's Clearing House) will charge a $55 Partial Transfer fee and $75 Full ACAT Transfer fee.
Robinhood doesn't charge anything on the receiving side.
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 initiate the transfer, you need your Firstrade account number.
This is visible on your statement sent monthly. You can also locate this by logging in to your Firstrade account.
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.
You can execute the transfer with the steps below: