How to Transfer Stocks from Robinhood
In this brief article you’ll be guided step by step through transferring your stocks off of Robinhood.
I will be showing you how to transfer your stocks to WeBull, but the process will be similar for most brokers. If you don’t already have a WeBull account, please consider using this link to get a couple free stocks when you sign up.
1. Get your Robinhood account number.
Open your Robinhood app. On the home screen, tap the icon that looks like a person in the bottom right.
This will take you to your account screen. From here, tap on the menu symbol (three lines) in the top right.
You will now be on your account options page. At the bottom, you can see two numbers listed under “Account No.” The one you need is the string of numbers next to (RHS). You do not need the code next to (APEX).
You can swap between apps to see this number as you transfer, take a screenshot, or just write it down — whatever is easiest for you.
2. Open WeBull
…or whatever brokerage you’re swapping to.
From the splash screen, tap the WeBull logo in the bottom middle. You will be prompted to provide whatever trading password you set, or provide a fingerprint. Do so to proceed.
This will bring you to your account page. Toward the bottom, you can see a few large buttons. Press the yellow button labeled “Transfer.”
The next page will give you several types of transfer options. Tap the green button labeled “Transfer Stocks into WeBull.” This will open a white page titled “WeBull Financial LLC.”
The WeBull Financial LLC page that opens will present you with a list of brokers. Tap Robinhood in the top left.
On the next screen, you will be presented with a notice that there is a transfer fee. Transferring your account off of Robinhood costs $75. This is the fee created by Robinhood, not WeBull. It should be the same no matter which brokerage you transfer to.
You will see that your name is automatically filled in. The name on your Robinhood and WeBull accounts must match to successfully transfer.
Next, you will fill out the other three options fields.
1.Delivering Account Type: Choose “Individual Account.”
2.Delivering Account Name: This is automatically filled out with your name.
3.Delivering Account Number: Enter the account number you got from Robinhood earlier in Part 1. Enter only the numbers. Do not try to write (RHS) in front of it.
4.Transfer Type: Choose “Full Transfer.” This will automatically transfer all of your stock and cash off of Robinhood. You do not need to worry about sending any cash on your account back to your bank first.
Scroll down. You will see three check boxes. Fill them out appropriately.
For most of us, the answer will be “No” to both questions concerning options and mutual funds. If you’ve simply bought/sold stocks, the answers will be “No.”
Check the box confirming that you understand Robinhood will issue a $75 transfer fee.
Finally, tap the “Submit Stock Transfer Request” button.
If the submission is successful, you will be taken to a summary page. While your transfer is being reviewed, do not trade/deposit/withdraw on your Robinhood account.
Very important: If you scroll down, you will only see a “Cancel” button. Do not use this. To close out of the transaction page, tap the “X” in the top left.
3. You’re Done!
Now you just have to wait until the transfer is complete.
Once the transfer is complete, your Robinhood account will automatically be closed.
I know the $75 transfer fee to get off of Robinhood is depressing, but if you’re new to WeBull, consider using my referral link by clicking here. This will give you two free stocks for signing up.
Each one can be valued up to $250, however my experience has been that the average value of both usually comes out to around $25. That doesn’t completely offset the transfer fee, but it takes a nice chunk out of it, and maybe you’ll be luckier.
It also gives me some stock, which you can think of as a tip that costs you nothing so I can justify continuing to put out articles and guides. Your support truly matters.
Thank you for taking the time to read, and best wishes to you at your new trading home!
For more finance, technical analysis, and life in Japan, find me on twitter @Nikadesh
For helpful information for those of you new to the world of stock investments, consider taking the time to read another of my articles, Stock Investing for Absolute Beginners.