It sounds like you're looking to make a switch from Webull to Fidelity, and that's a perfectly understandable decision for many investors! Perhaps you're seeking a broader range of investment products, lower fees, or simply a change of scenery. Whatever your reasons, transferring your assets from one brokerage to another can seem like a daunting task, but I'm here to tell you it's a straightforward process if you know the steps.
Ready to dive in and take control of your investments? Let's get started on this journey together!
Step 1: Understanding Your Transfer Options and Preparing for the Move
Before you initiate any transfer, it's crucial to understand the two main types of transfers and what information you'll need to have ready. This initial preparation will save you significant time and potential headaches down the line.
Sub-heading 1.1: Full vs. Partial Transfers – Which is Right for You?
Full Transfer (ACATS - Automated Customer Account Transfer Service): This is where all your eligible assets (stocks, ETFs, mutual funds, options, etc.) are moved from your Webull account to your new Fidelity account. This is often the simplest option if you intend to close your Webull account completely.
Partial Transfer (ACATS): In this scenario, you select specific assets you wish to move while leaving others in your Webull account. This might be useful if you want to consolidate certain holdings or if some assets aren't transferable (like certain cryptocurrencies or non-publicly traded securities).
Consider your long-term investment strategy. Do you want to consolidate everything under one roof, or maintain accounts at both brokerages for different purposes? Making this decision upfront will streamline the rest of the process.
Sub-heading 1.2: Gathering Essential Information
Before you even log into Fidelity, ensure you have the following readily available:
Your Webull Account Number: This is absolutely critical for the transfer. You can typically find this by logging into your Webull account, going to your profile or account settings.
Your Fidelity Account Number: Similarly, have your destination account number handy.
Your Account Type(s): Are you transferring an individual brokerage account, a Roth IRA, a traditional IRA, or a joint account? Make sure the account types match at both Webull and Fidelity. Mismatching account types will lead to delays or rejection.
Your Webull Login Credentials: You might need these to verify information or respond to any prompts from Webull during the process.
A Recent Webull Statement (Optional but Recommended): While not always strictly necessary, having a recent statement can be incredibly helpful for verifying holdings and account details. It can also serve as a reference if there are any discrepancies during the transfer.
Tip: It's a good idea to take screenshots of your Webull holdings and account summary before initiating the transfer for your records.
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| How To Transfer From Webull To Fidelity |
Step 2: Initiating the Transfer from the Fidelity Side
This is a common point of confusion for many. You initiate the transfer from the receiving brokerage (Fidelity), not the sending brokerage (Webull). Fidelity will "pull" your assets from Webull.
Tip: Remember, the small details add value.
Sub-heading 2.1: Navigating to the Transfer Section on Fidelity's Website
Log in to your Fidelity account. If you don't have one yet, you'll need to open one first. Fidelity offers a wide range of account types, so choose the one that matches your Webull account.
Once logged in, look for a section related to "Transfers," "Move It," or "Account Services." This is usually found in the top navigation bar or within a dropdown menu.
Select the option to "Transfer an account to Fidelity" or "Transfer assets from another firm."
Sub-heading 2.2: Filling Out the Online Transfer Form
Fidelity's online transfer form is designed to guide you through the process. Here's what you'll typically need to input:
Originating Brokerage Firm: Select "Webull" from the dropdown list.
Webull Account Number: Enter the account number you gathered in Step 1.
Type of Account: Specify if it's an Individual, Joint, Traditional IRA, Roth IRA, etc. Ensure this matches your Webull account type exactly.
Full or Partial Transfer: Indicate whether you want to transfer all assets or select specific ones.
If partial: You may need to specify the exact assets (e.g., specific stock symbols and quantities) you wish to transfer.
Receiving Fidelity Account: Select the Fidelity account into which you want the assets transferred.
Authorization: You'll typically need to electronically sign or acknowledge the transfer request. This authorizes Fidelity to act on your behalf to request the assets from Webull.
Important Note: During this step, Fidelity will often disclose any potential fees associated with the transfer. Webull may charge an outgoing transfer fee (often around $75 for a full ACATS transfer). Fidelity might offer to reimburse this fee for larger transfers, but it's not guaranteed. Check Fidelity's current promotions or contact their customer service for details.
Step 3: The Waiting Game and Monitoring Your Transfer
Once you've submitted the transfer request to Fidelity, the process moves into the hands of the Automated Customer Account Transfer Service (ACATS). This system is designed to facilitate seamless transfers between brokerages, but it does take some time.
Sub-heading 3.1: Understanding the ACATS Timeline
Initiation to Completion: A full ACATS transfer typically takes 5 to 7 business days from the date Fidelity submits the request to Webull. Partial transfers can sometimes take slightly longer, especially if specific securities need to be identified.
Holding Period: During the transfer, your assets will be in a "transfer pending" status. You generally cannot trade these specific assets during this time. It's a good idea to avoid initiating any trades in your Webull account once the transfer is underway.
Sub-heading 3.2: Monitoring Progress and Troubleshooting
Fidelity's Transfer Tracker: Fidelity usually provides an online tool or section where you can track the status of your transfer. Check this regularly for updates.
Communication is Key:
If the transfer is taking longer than expected, first check Fidelity's transfer tracker.
If there are no updates or if you see a "rejected" status, contact Fidelity's customer service immediately. They can investigate the reason for the delay or rejection.
Common reasons for rejections include:
Mismatched account types.
Incorrect account number.
Outstanding debits or margin calls in your Webull account.
Assets that are not transferable (e.g., certain cryptocurrencies not supported by Fidelity, or illiquid alternative investments).
Pending trades in your Webull account.
Pro-Tip: Make sure your contact information (email and phone) is up-to-date with both Webull and Fidelity, as they may need to reach out to you if there are any issues.
Tip: Don’t skip the small notes — they often matter.
Step 4: Post-Transfer Actions and Finalizing Your Move
Once your assets have successfully landed in your Fidelity account, there are a few more steps to ensure everything is in order.
Sub-heading 4.1: Verifying Transferred Assets
Cross-Reference Your Holdings: Carefully compare the assets that arrived in your Fidelity account with the list of assets you intended to transfer (or your Webull statement if it was a full transfer). Ensure all shares, cash, and any other securities have been correctly transferred.
Cost Basis Information: This is crucial for tax purposes. While ACATS typically transfers cost basis information automatically, it can sometimes take an additional week or two for this data to appear accurately in your Fidelity account. If the cost basis isn't showing after a reasonable time, contact Fidelity's customer service.
Sub-heading 4.2: Handling Residuals and Closing Webull (Optional)
Residual Cash or Shares: Sometimes, small amounts of cash (e.g., from dividends paid during the transfer) or fractional shares might be left behind in your Webull account. If this happens, you can either:
Initiate a separate small transfer (though this might incur another fee from Webull).
Sell the remaining assets and withdraw the cash to your bank account.
Closing Your Webull Account: If you performed a full transfer and are satisfied that all assets have moved, you can then proceed to officially close your Webull account. Many brokerages require a $0 balance to close an account. Contact Webull's customer service or look for an "account closure" option within their platform. Do not close your Webull account before confirming all assets have transferred.
Congratulations! You've successfully navigated the process of transferring your assets from Webull to Fidelity. You're now in control of your investments within your new brokerage.
10 Related FAQ Questions
Here are some quick answers to common questions about transferring accounts:
How to find my Webull account number?
You can typically find your Webull account number by logging into your Webull app or desktop platform, navigating to your profile or account settings section. It's usually prominently displayed.
Tip: Review key points when done.
How to check the status of my transfer from Webull to Fidelity?
You can check the status of your transfer directly on Fidelity's website. Log in to your Fidelity account and look for a "Transfers" or "Account Services" section, which usually has a transfer tracker.
How to avoid transfer fees when moving from Webull to Fidelity?
Webull generally charges an outgoing ACATS transfer fee (around $75). Fidelity may offer to reimburse this fee for transfers above a certain amount. It's best to contact Fidelity's customer service to inquire about their current reimbursement policy.
How to transfer only specific stocks from Webull to Fidelity?
When initiating the transfer on Fidelity's platform, select the "partial transfer" option. You will then be prompted to specify the exact stock symbols and quantities you wish to transfer.
How to transfer an IRA from Webull to Fidelity?
The process is the same as transferring a regular brokerage account. Ensure the account type you open at Fidelity (e.g., Roth IRA, Traditional IRA) exactly matches the IRA type you have at Webull.
How to handle fractional shares during a transfer?
QuickTip: Pay attention to first and last sentences.
Fractional shares are often not transferable via ACATS. Webull will typically liquidate any fractional shares into cash, and that cash will then be transferred to your Fidelity account.
How to transfer options contracts from Webull to Fidelity?
Options contracts can generally be transferred via ACATS, similar to stocks. Ensure that Fidelity supports trading the specific options you hold. Open options positions will typically transfer at their current market value.
How to deal with rejected transfers from Webull to Fidelity?
If your transfer is rejected, Fidelity will usually notify you and provide a reason. Common reasons include mismatched account types or outstanding issues at Webull. Contact Fidelity's customer service for guidance on resolving the issue.
How to get my cost basis information after transferring from Webull to Fidelity?
Cost basis information is usually transferred automatically via ACATS, but it can take an additional 1-2 weeks after your assets arrive in Fidelity. If it doesn't appear, contact Fidelity's customer support.
How to close my Webull account after transferring to Fidelity?
Once all your assets have successfully transferred to Fidelity and you've confirmed everything is correct, you can contact Webull's customer service or look for an "account closure" option within their platform. Ensure your Webull account has a $0 balance before attempting to close it.
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