If you're looking to transfer your assets from Charles Schwab to Robinhood, here is our step by step guide.
This is possible through the ACATS transfer service, although there may be some fees involved.
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.
Charles Schwab charges a one time $25 fee for a partial account transfer or $50 for a full account transfer.Â
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 Charles Schwab account number.
This is visible on your statement sent monthly. You can also locate this by logging in to your Charles Schwab 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: