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.
Check out my video on how to transfer your brokerage account below, let's dive in!
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.
Here's what you need to know:
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.
You can transfer:
A Transfer of Assets is the movement of all or part of an account from one financial institution to another without the need to sell your existing holdings.
Fidelity allows you to transfer various security types, including stocks, bonds, mutual funds, and more.
This process extends to investment accounts, retirement accounts (e.g., IRAs, HSAs), workplace accounts like 401(k) or 403(b), and even cash from checking or savings accounts.
Typically, the Transfer of Assets process takes 3–5 business days, depending on your current firm's rules and the type of accounts and investments being transferred.
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.
Begin by downloading a digital statement from your current financial firm. This document will contain crucial account information, and you may need to upload a copy 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:
Get 1 Free Stock Worth Up To $200 From Robinhood!
Don't Miss This Opportunity!
Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.
For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.
