Do you want to transfer from Robinhood to Fidelity?
If your answer is YES then don’t worry, we have got you covered.
There is no denying that Robinhood is one of the best stock trading platforms in the United States right now but it does have some limitations.
Due to its limitations and lack of features, plenty of users want to transfer from Robinhood to Fidelity.
For the unversed, Fidelity is ranked the number 1 platform for Order Execution and Research by StockBrocker.com.
If you too want to transfer from Robinhood to Fidelity then look no further as we have a step by step guide explaining the same in the simplest way possible.
Also Read >> Robinhood Authenticator Apps
Without any further ado, let’s get started:
Transferring Stocks From Robinhood To Fidelity
To transfer stocks or cash from Robinhood to Fidelity or any other outside brokerage through the Automated Customer Account Transfer Service (ACATS), you will have to pay a certain amount of fee.
Regardless of whether you are transferring full or partial Robinhood cash or stocks, the fee will be debited from your Robinhood account.
Before you begin the transfer process, make sure your Robinhood account does not have any negative balances or restrictions.
If your account does have any restrictions or a negative balance, the transfer process is most likely to be delayed.
Also Read >> How To Transfer From Robinhood to Webull?
To transfer from Robinhood to Fidelity, you will have to follow a few simple steps:
Keep Robinhood Info Handy
To get the transfer process done, you will have to provide Fidelity with your Robinhood Securities (RHS) account number.
To find your Robinhood RHS account number, you will have to open the Robinhood application and tap on your profile icon located on the bottom right corner of the screen.
In a new window, tap on the ‘Investing’. When you do so, you will be shown your account number.
Robinhood DTC Number — 6769.
Fidelity will also ask you to submit a copy of your most transaction of Robinhood.
If you don’t have it, visit its official website and download it now.
Begin The Transfer Process
Once you have successfully downloaded your Robinhood statement and obtained your account detail, you can begin the transfer process.
Note: Transferring from Robinhood to Fidelity will cost you $75. The fee is charged by Robinhood, not by Fidelity.
If you are willing to $75 fee to transfer from Robinhood to Fidelity, follow the steps mentioned below:
- First, create an account on Fidelity if you have not already.
- Once created, log in to Fidelity.
- Once logged in, click on the ‘Account & Trade’ tab located at the top left corner of the screen.
- From the drop-down menu, select ‘Transfer’.
- In a new window, you will have to go into the Command Task and click on the ‘Deposit, withdraw and transfer money.’
- When you do so, you will be taken to a new page where you will be asked which account do you want to move money from.
- Click on the drop-down option and select “Transfer an account to Fidelity”
- Once selected, type Robinhood Securities Llc and hit the Enter button.
- Now, you will have to enter your Robinhood account number and select the account type.
- Once entered, click on the Next button.
- Clicking on the Next button will ask you whether you want to move assets into the existing account or want to create a new one.
- If you already have an account, click on ‘An existing account’. If you are new to Fidelity, click on the ‘Open a new account’ tab.
- Now, you will be asked whether it is a full transfer or partial.
- Once selected, click on the Next button.
- Once done, you will be shown the transfer detail.
- If the shown details are correct, click on the Submit button to proceed.
- That’s it.
That’s all you need to know about how to transfer from Robinhood to Fidelity.