Moving Your Investments: How Long Does It Take to Transfer from Robinhood to Webull?
Are you considering switching brokerages from Robinhood to Webull to take advantage of Webull's advanced charting tools, pre-market/after-hours trading, or perhaps just a different user experience? If so, you're not alone! Many investors choose to move their assets between platforms. A common question that arises is: "How long will it actually take to transfer my portfolio from Robinhood to Webull?"
Let's dive deep into the process, what to expect, and how to make your transfer as smooth as possible.
Step 1: Are You Ready to Make the Move? Let's Confirm!
Before we even talk about timelines, the very first thing you need to do is prepare your accounts. This is a crucial, often overlooked step that can significantly impact the speed of your transfer.
Sub-heading: Understanding the ACATS System
The transfer of assets between brokerages in the US typically happens through the Automated Customer Account Transfer Service (ACATS). This system is designed to streamline the process, but it relies on accurate information and eligible assets.
Sub-heading: Key Pre-Transfer Checks
Ensure Account Matching: The name on your Robinhood account must exactly match the name on your Webull account. Even a minor discrepancy can cause delays or rejections. This includes middle initials, suffixes (Jr., Sr., III), etc.
Resolve Negative Balances or Restrictions: If your Robinhood account has any negative cash balances, margin calls, or other restrictions, resolve them before initiating the transfer. These will halt the process.
Check for Ineligible Assets: While most common stocks and ETFs are transferable, some assets might not be.
Fractional shares in Robinhood will generally be liquidated (sold) during a full transfer, and the cash proceeds will be transferred.
Options contracts that expire within 7 business days usually cannot be transferred and may need to be closed or exercised before the transfer.
Cryptocurrency held on Robinhood Crypto is typically not transferable via ACATS. You'll need to sell your crypto on Robinhood and then transfer the cash, or in some cases, transfer supported cryptocurrencies directly if Webull supports the specific coin and network, which is a separate process from ACATS.
Minimum Balance for Fee Waiver (Webull): Webull may offer to cover the transfer-out fee charged by Robinhood (currently $100 for a full or partial ACATS transfer) if your account value exceeds a certain threshold (historically around $2,000, but always confirm the current policy with Webull). Make sure your account meets this requirement if you're hoping for a fee waiver.
Gather Necessary Information: You'll need your Robinhood account number and Robinhood's DTC number (Depository Trust Company number), which is 6769. You can typically find your Robinhood account number within the app under Account -> Investing.
Step 2: Initiating the Transfer from the Webull Side
Surprisingly, you initiate the transfer from the receiving brokerage (Webull), not the sending one (Robinhood).
Sub-heading: Navigating the Webull App
Log in to your Webull App.
Go to the "Transfers" tab (often found in the middle of the navigation bar, or under "Menu" if it's not immediately visible).
Look for an option like "Portfolio Transfer" or "Transfer Stock/Assets In."
Select the "Delivering Broker": Choose "Robinhood" from the list of available brokers. If Robinhood isn't explicitly listed, there might be an option to manually enter the broker name.
Enter your Robinhood account details: This is where you'll input your Robinhood account number.
Choose Transfer Type: You'll typically have two options:
Full ACATS Transfer: This transfers all eligible securities and cash from your Robinhood account to Webull and will close your Robinhood account.
Partial ACATS Transfer: This allows you to select specific securities and/or cash to transfer, leaving your Robinhood account open. Be mindful of minimum transfer amounts if doing a partial transfer.
Confirm and Submit: Review all the information carefully. Any errors here can lead to delays or rejections. Submit your transfer request.
Sub-heading: Document Submission
Webull will likely require you to upload supporting documents. This commonly includes:
A copy of your photo ID (e.g., driver's license, passport).
A recent statement from your Robinhood account. This helps Webull verify your holdings and account details.
A signed transfer request form. Webull often generates this form for you to print, sign, and re-upload. Ensure your signature matches your ID. Digital signatures are generally not accepted for this.
Step 3: The Waiting Game: Understanding the Timeline
Now, for the question you've been waiting for! How long does it take?
Generally, a full or partial ACATS transfer from Robinhood to Webull takes 5 to 7 business days to complete, assuming everything goes smoothly. However, it's important to understand that this is an average.
Sub-heading: Factors Influencing Transfer Time
Accuracy of Information: As mentioned, errors in account numbers, names, or missing documents will lead to rejections and significant delays.
Account Status: Any issues with your Robinhood account (negative balances, restrictions, margin calls) will put a halt on the transfer until resolved.
Asset Eligibility: If you have assets that aren't transferable, this can also cause delays as they may need to be liquidated.
Volume of Transfers: During periods of high transfer activity across the industry, processing times might be slightly longer.
Weekend/Holiday Impact: Business days are Monday through Friday, excluding public holidays. Transfers initiated late in the week might not start processing until the following week.
"Residual Sweeps": After the initial transfer, you might receive additional, smaller transfers of cash from dividends or unsettled trades that occurred just before the main transfer. These "residual sweeps" can continue for up to 6 months after the primary transfer is complete. You don't need to do anything for these; they happen automatically.
Sub-heading: What Happens During the Transfer?
During the transfer process, your Robinhood account (or the specific assets being transferred in a partial transfer) will be placed on hold. This means you generally cannot buy or sell the assets being transferred. While you still own them, and their market value will update in your Robinhood app, you won't be able to actively trade them until they arrive in your Webull account.
Step 4: Tracking Your Transfer Status
Both Robinhood and Webull provide ways to track the status of your transfer.
Sub-heading: Checking on Webull
Once you've submitted your request, you should be able to see the status within the Webull app, typically in the "Transfers" section. Webull will usually provide updates on the different stages of the transfer (e.g., "Processing," "Pending," "Completed," or "Rejected").
Sub-heading: Checking on Robinhood
Robinhood will also update the status of your account or the transferred assets. If it's a full transfer, your account will be put on hold, and you'll see a notification regarding the transfer out.
Sub-heading: What if there's a Delay?
If your transfer is taking longer than expected (beyond 7 business days), the first step is to check the status within both the Webull and Robinhood apps. If it's still unclear, or if the transfer has been rejected, you should contact Webull's customer support first, as they initiated the transfer. They will have more visibility into the reason for any delays or rejections and can guide you on the next steps.
Step 5: Post-Transfer Actions
Once your assets have successfully landed in your Webull account, there are a few things to keep in mind:
Sub-heading: Cost Basis Information
It can take an additional up to 15 calendar days after the assets have settled for Robinhood to send the cost basis information to Webull. Until this information is received, your average cost and total return values for your holdings may not appear correctly in your Webull account. Don't worry, once Webull receives the data, they will update it accordingly. This is crucial for accurate tax reporting.
Sub-heading: Explore Webull's Features
With your assets transferred, take the time to familiarize yourself with Webull's platform. Explore their charting tools, advanced order types, news feeds, and any other features that attracted you to the platform.
10 Related FAQ Questions
How to check my Robinhood account number for the transfer? You can find your Robinhood account number by logging into the Robinhood app, tapping on the "Account" icon (person silhouette), then selecting "Investing." Your account number should be displayed near the top.
How to find Robinhood's DTC number? Robinhood's DTC (Depository Trust Company) number is 6769. This is a standard identification number used for asset transfers between brokerages.
How to transfer only some of my stocks from Robinhood to Webull? When initiating the transfer on Webull, you will typically have an option for a "Partial ACATS Transfer." This allows you to select specific stocks and the quantities you wish to transfer, leaving the rest in your Robinhood account.
How to avoid transfer fees from Robinhood to Webull? Robinhood charges a $100 fee for outgoing ACATS transfers (full or partial). Webull may offer to reimburse this fee if your incoming transfer meets a certain value threshold (e.g., $2,000 or more). Always confirm Webull's current promotion or policy regarding transfer fee reimbursements before initiating.
How to transfer cryptocurrency from Robinhood to Webull? Direct ACATS transfers do not typically handle cryptocurrency. You generally need to sell your cryptocurrency on Robinhood and then transfer the resulting cash to Webull, or explore direct crypto transfers if both platforms support the specific coin and network, which is a separate process.
How to resolve a rejected transfer from Robinhood to Webull? A rejected transfer usually has a reason (e.g., mismatched names, ineligible assets, negative balance). Webull will typically notify you of the reason. Contact Webull's customer support to understand the specific issue and what steps you need to take to rectify it and resubmit the transfer.
How to know if my Robinhood account is eligible for transfer? Ensure your Robinhood account has no negative cash balances, margin calls, or active restrictions. Most whole shares of stocks and ETFs are transferable. Options contracts expiring within 7 days are generally not.
How to track the status of my transfer on Webull? After initiating the transfer on the Webull app, navigate to the "Transfers" section. You should see a status update for your pending transfer, indicating its progress (e.g., "Processing," "Completed," or "Rejected").
How to get my cost basis information after the transfer? Robinhood is legally required to send your cost basis information to Webull. This usually happens automatically within 15 calendar days after the assets have settled. You don't need to do anything; Webull will update your account once they receive it.
How to contact Webull customer support for transfer issues? You can usually contact Webull customer support through their in-app chat, email, or phone number, which can be found in the "Help Center" or "Contact Us" section of their app or website. Have your account details and transfer reference number ready.
