If you’re looking to transfer your stocks from Robinhood to Fidelity, our guide provides a simple and straightforward step-by-step process using the Automated Customer Account Transfer Service (ACATS).
With ACATS, you can transfer your stocks directly from Robinhood to Fidelity without selling and without tax consequences, making the process much more efficient and cost-effective.
Steps To Transfer Stocks from Robinhood to Fidelity
1) In the first step open the Robinhood app & here tap on the profile icon at the bottom right corner.
2) In your profile tap on the Hamburger icon at the top right side.
3) Now here the first option you got is Investing, if open it then you’ll get your account number here. Simply copy that because you’ll need that in the next steps.
4) In the next step open the Fidelity app & here tap on the money icon at the bottom right corner & then tap on the Transfer button at the top.
5) On this page, tap on the “Transfer assets from another financial institution” option & tap continue, it’ll take you to the Fidelity website.
6) On the Fidelity website, tap on the “Start a transfer”.
7) Then search for Robinhood Securities Llc & then tap on the Next button at the bottom.
8) Here enter the “Account number” we got from the Robinhood account & keep the account type at “Brokerage Individual” and then tap on the Next button at the bottom.
9) If you already have a Fidelity account then tap on “An existing account” and enter your details. if you’re new then tap on “Open a new account” & tap on the Next button at the bottom.
10) Here select “Brokerage Individual(1 owner)” & then hit Next.
11) Now from here, it’ll take you through the process of opening up a new account & then transferring your assets in. This process is pretty simple & you won’t need any additional information besides that account number.
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How long does it take to transfer stock from Robinhood to Fidelity?
The transfer time could take 5-7 business days or up to 2 weeks. Keep in mind that in the normal work condition, you’ll be smoothly able to transfer in a given time frame but if you transfer during the time when there is a lot of workload then it can take a bit longer.
Is there a fee to transfer Robinhood to Fidelity?
Yes, it’ll cost you a $75 fee to transfer Robinhood to Fidelity. It’ll get debited from your Robinhood cash balance. If there’s not enough cash in your Robinhood account to pay that fee then they’re going to have to sell off some of your investments. So carefully look for that & sell what you want & don’t let Robinhood choose for you.