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Written by Ryan Scribner on November 9, 2023
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How To Transfer From Webull To Robinhood 2024

With the wide array of investing apps available today, it is not uncommon to switch from one to the other.

In this article, we will be outlining the steps involved with transferring your brokerage account from Webull to Robinhood.

Whatever your reason may be for switching, we will show you how to transfer step by step.

If you are still on the fence about which platform is best for you, then check out our article comparing Robinhood vs Webull here.

Check out my video on how to transfer your brokerage account below, let's dive in!

Learn More: Robinhood Retirement 3% Match

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.

Robinhood IRA Boost

Here's what you need to know:

  • Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
  • All Robinhood investors will get a 1% Match on what they Contribute or Transfer
  • Robinhood Gold members will get a 3% Match - the biggest on the market

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.

Best Free Stock Promotions

Robinhood Logo1 Free Fractional Share Worth Up To $200Learn More
Webull LogoEarn Up To 75 Free Fractional SharesLearn More
Moomoo Logo5 Free Stocks When You Deposit $100+Learn More
Acorns Logo$20 Bonus When You Invest $5+Learn More

What Can Be Transferred?

Robinhood supports the transfer of various asset types, including stocks, ETFs, and cash balances, among others.

Fractional shares, crypto, mutual funds, bonds, and other specific assets remain non-transferable.

Only individual cash, margin brokerage accounts, or traditional or Roth IRAs are eligible for transfers.

1. Open A Robinhood Account

Next, you will need to open a Robinhood account.

Use the button above to get a completely free stock when you sign up!

Once you download the app on your phone or begin creating an account on their website, you will be prompted to provide basic information.

2. Gather Information From Webull

In order to transfer your Webull account over to Robinhood, you will need your Webull account number. This is something you can retrieve from within the app, or it is on all of your statements.

You will most likely need your most recent brokerage statement from Webull, so it is a good idea to retrieve a downloaded copy of this.

Here's how to find your Webull statement:

  1. Within the app, tap on the Webull logo at the bottom.
  2. At the top, swipe over to the right on the menu and select "Documents."
  3. Scroll down to "Account Statement."
  4. Click on the most recent statement.
  5. Download a copy of this or email it to yourself to download later.

3. Make Sure Your Webull Account Is In Good Standing

The next step is to ensure that your Webull account has no balances that are due. You want to ensure that your Webull account is in good standing with no balances due before initiating the transfer. If not, it will likely delay the process.

If you own any crypto within your Webull account, you will want to liquidate this into cash before initiating the transfer process. Crypto cannot be transferred at this time.

4. Assess The Fees

Once you have opened a brokerage account with Robinhood, the next step is to initiate the transfer within Robinhood.

Before executing the transfer, you ought to be aware that Webull will charge $75 for an outgoing ACATS transfer. This fee will be deducted from your cash balance.

The good news is, Robinhood will reimburse you this transfer fee up to $75 if your transferred account value is $7,500 or more.

5. Initiate The Transfer

Once you have opened a brokerage account with Robinhood, the next step is to initiate the transfer within Robinhood.

Follow the steps below to initiate the transfer:

  1. Open the Robinhood app.
  2. Tap the person icon along the bottom navigation menu.
  3. Tap the three lines icon in the top left.
  4. Select "Transfers."
  5. Choose "Transfer accounts into Robinhood."
  6. Select Webull by typing it in the search bar.
  7. Enter in your account number.
  8. Confirm your account name.
  9. Answer whether or not your Webull account has mutual funds or bonds.
  10. Choose full or partial transfer.
  11. Review the transfer and submit.

What Happens Next?

Robinhood enables users to track their transfer requests through the app's history section.

Upon initiating a transfer request, it typically takes 5-7 business days for the assets to settle in the Robinhood account. During the transfer period, users will be unable to access the positions being transferred from the external brokerage.

Account transfer requests can face rejection due to various reasons, including incorrect account numbers, the presence of ineligible assets, unmet margin balance requirements, or a lack of approved options trading status.

In such instances, users may need to resubmit their transfer requests to initiate the process again.

Article written by Ryan Scribner
Ryan Scribner is the Co-Founder of Investing Simple and author of the personal finance book ‘From Side Hustle To Main Hustle To Millionaire’ (available on Amazon and at Barnes & Noble). He is recognized as a Top 100 Money Expert by GoBankingRates. Ryan Scribner runs a successful YouTube channel focused on money and investing, which he started in 2016. Scribner was exposed to the finance world early on with a dad who is a financial advisor. Before he started his YouTube channel, he was working and making a surplus of money which he began investing on his own. Then he started to document it on his YouTube channel, before launching the Investing Simple blog in 2018. Ryan Scribner has used his own experiences with money to show others what he’s done to be successful so that they can learn from it. He has been featured in The Wall Street Journal in a publication on The Financial Gurus Millenials Listen To. In addition, Ryan Scribner has been featured in MarketWatch, Business Insider and Forbes - where he was recognized as the #1 Must Watch YouTube Channel For Making Money.

Read more

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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.

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