If you want to learn How To Transfer From Robinhood To Webull, you’ll get all the information related to that here.
Sometimes we don’t like a broker for particular reactions. Now your reason can be anything but it’s possible to change your broker. Now if you are currently using Robinhood & want to transfer your stocks out of Robinhood to a Webull account, then here we’ll discuss exactly that. so without further ado let’s get started.
9 Important points Before you transfer to Webull(source: Webull)
- Only listed U.S. stocks, ADRs, and ETFs are accepted.
- Webull supports individual cash, margin accounts, traditional IRAs, Roth IRAS and Rollover IRAS.
- The name and type of the delivering account must be identical to the receiving account’s name and type.
- The transfer may be delayed if your outgoing account type differs from your Webull account.
- Your broker may charge you $75 for transferring out, the specific amount varies by broker.
- In order to protect our customers, Webull does not support account transfers of assets below $500 due to the high transfer cost.
- The alternative, cost-free option, is to liquidate your positions at your broker, pull the funds to your bank, and deposit those funds to Webull.
- If you choose “full transfer”, all your assets (including all positions and cash) will be transferred to Webull.
- Please note that only U.S. dollars are accepted, and make sure the transferred securities are tradable on Webull.
How To Transfer From Robinhood To Webull 2022
1) In the first step open the Webull app & here tap on the Webull icon you got at the very bottom middle side.
2) On this screen tap on the More button on the right side of your screen.
3) Then tap on the Transfer button.
4) Now tap on the “Transfer stocks into Webull”.
5) Now tap on the Transfer to Webull button at the bottom.
6) As we are transferring from Robinhood so tap on the Robinhood icon.
7) On this page, it’ll ask for your personal details so after filling them, checkmark the Acknowledge option & then tap on the “Submit stock transfer request” button at the bottom.
Note: After you complete these steps, It can take a couple of business days to complete your transfer. So keep patience as when the process gets completed you’ll get your Robinhood account will get empty out & everything will get settled in your Webull account.
FAQs
Does Webull charge any fees for the transfer?
Webull does not charge any fees for incoming transfers. However, your outgoing broker may charge you a fee for transferring out. It’s important to check with your broker to determine any fees associated with transferring out.
How long does it take to transfer stocks from Robinhood to Webull?
The transfer process usually takes a couple of business days to complete. However, it may take longer depending on the specifics of the transfer.
Can I transfer other types of assets besides stocks?
Webull only accepts the transfer of listed U.S. stocks, ADRs, and ETFs. Other types of assets, such as options or mutual funds, may not be eligible for transfer.
What happens if there is a discrepancy between my Robinhood and Webull account details?
The name and account type of the delivering account must be identical to the receiving account’s name and type. If there is a discrepancy, the transfer may be delayed or rejected. It’s important to ensure that all account details are accurate and match between the two platforms.
Can I transfer assets worth less than $500?
Webull does not support the transfer of assets below $500 due to the high transfer cost. However, you can choose to liquidate your positions at your broker, pull the funds to your bank, and deposit those funds to Webull as an alternative, cost-free option.
Can I transfer to Webull from a different brokerage besides Robinhood?
Yes, you can transfer from a different brokerage besides Robinhood to Webull. However, the transfer process may differ depending on the specific brokerage.