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How to Transfer from Robinhood to Fidelity? (A Comprehensive Guide)

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  • Are you wondering how to transfer Robinhood to Fidelity. It can improve your investing experience, as you will have access to Fidelity’s extensive research tools, customer service, and wider investment options. To start:
    • Make sure that all your Robinhood details are correct, including the personal information you provided and any holdings.
    • If you do not have a Fidelity Account, open one by selecting the right account type and entering your personal information.
    • After you have created your Fidelity Account, use the Automated Client Account Transfer Service (ACATS), which is available on Fidelity’s website.
    For this process, you will need the Robinhood and Fidelity account numbers. You can choose to transfer all your assets or only certain securities. Remember that Robinhood charges $75 for transfers. Transfers usually take 3-5 days, but they can sometimes be longer. Both brokers will send you notifications to keep track of the transfer. Be sure to settle all funds on your Robinhood account before initiating a transfer. So, let’s begin and learn more about it.

    Why Transfer from Robinhood to Fidelity?
    Robinhood's intuitive app, which offers zero-commission trading, has transformed the trading landscape. It is now accessible to new investors. Here are the reasons why transfer shares from Robinhood to Fidelity:
    • Fidelity offers extensive research tools and reports to help you make informed decisions about your investments.
    • Fidelity's Customer Service is well-known for its outstanding customer service. It offers a variety of support channels, such as phone, online chat, and in-person consultations.
    • Fidelity offers a wider range of investment choices, including mutual funds, bonds, and advanced trading options.

    What to do before you transfer Robinhood to Fidelity?
    It is important to make sure that your information is current and in order before you begin the transfer. Here are some steps you need take to transfer shares from Robinhood to Fidelity:

    1. Review Your Robinhood Account
      • Account Details: Please verify that your account details are accurate. This includes your name, address, and Social Security Number.
      • Holdings: Make a note of the stocks, ETFs, and other securities that you have in your Robinhood Account.
      • The cost basis information includes the date and price of your investment, as well as their purchase price. This is important for tax purposes.

    2. Open a Fidelity Account
      You will have to open a Fidelity Account if you do not currently have one. Here is how:
      • Open an account on Fidelity.com: Go to Fidelity.com and click "Open an Account."
      • Choose Account Type: Select which type of account to open—for example, a brokerage, IRA, or other investment account.
      • Please provide your personal information. Include your name, address, and SSN, as well as employment details.
      • Fund Your Account. You can fund your new Fidelity account by bank transfer, check, or asset transfer from another brokerage.

    How do you transfer stocks from Robinhood to Fidelity?
    You can begin the transfer once your Fidelity account is ready. Fidelity facilitates the transfer of assets to Robinhood using the automated account transfer service. Here is how to transfer stocks from Robinhood to Fidelity:
    Step 1: Gather the Required Information
    Gather the following information before starting the transfer:
    • Robinhood account number: This can be found in the Robinhood App under "Account" and "Account Information."
    • Fidelity's account number is in the Fidelity overview.

    Step 2: Start the transfer on Fidelity’s website
    • Log in to Fidelity. Access your Fidelity Account and navigate to the Transfers section.
    • Select "Transfer accounts" to move your account from another brokerage.
    • Robinhood Account Details: Please enter your Robinhood account numbers and any other information required.
    • Select the transfer type: You can choose to transfer all your assets or only certain securities.
    • Double-check all the information before submitting the request.

    Step 3: Monitor Transfer Process
    • Confirmation: Fidelity confirms receipt of the transfer request and begins processing it.
    • Transfer Timeframe: Typically, the transfer process takes between 3-5 working days. However, it may take as long as a week in some cases.
    • Fidelity, as well as Robinhood, will notify both you and the recipient once the transfer has been completed.

    What is the Robinhood Fidelity transfer fee?
    Robinhood charges you a transfer fee if you want to move your account from one broker to another. According to the most recent update, the Robinhood to Fidelity fee is $75. Here is the Robinhood to Fidelity transfer fee:
    • Unsettled funds: Make sure all funds are settled in your Robinhood Account before initiating a transfer.
    • Margin Accounts: You may have to settle any outstanding margin loans or other balances on your account before you can transfer.
    • Cryptocurrency: Now, Robinhood does not support the transfer or holding of cryptocurrency. It may be necessary to liquidate the assets and then transfer funds.

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