Robinhood is one of the most beginner friendly stock trading apps available today.
But at some point, you may find that you are looking to make a switch.
Here's how to transfer from Robinhood to Fidelity, step by step.
You can transfer your Robinhood stocks and cash to Fidelity through the Automated Customer Account Transfer Service (ACATS).
When you transfer from Robinhood to Fidelity (or any other brokerage), there is a $100 fee (whether you are doing a full or partial transfer of your account), which will be debited from your Robinhood account’s available cash balance.
Be sure to resolve any account restrictions or negative balances in your account prior to requesting a transfer, or your transfer may be delayed.
Keep in mind that any cryptocurrency holdings you have on Robinhood will be liquidated into cash during the transfer process.
Before you initiate the transfer process, you'll need to locate your Robinhood account number.
Here's how you can find it:
Now that you have your Robinhood account number, it's time to begin the transfer process to Fidelity.
Follow these steps:
You're now ready to fill out the transfer form.
Here's how to proceed:
While the transfer process usually takes 3–5 business days, individual experiences may vary.
Some users have reported quicker transfers, taking as little as 24 hours, while others have experienced longer waiting times of 1–2 weeks. Be prepared for a range of potential timelines.
Don't forget to grab your free stock worth up to $200 from Robinhood today!