Are you ready to make a smart move with your investments? Transferring your stocks from Robinhood to Webull can be a fantastic decision for many investors looking for more advanced trading tools, in-depth analysis, and a wider range of investment options. While both platforms offer commission-free trading, Webull often appeals to those who want a bit more "oomph" in their trading experience.
This isn't just about moving a few shares; it's about potentially optimizing your financial journey. So, let's dive into a comprehensive, step-by-step guide to seamlessly transfer your stocks from Robinhood to Webull!
The Grand Migration: Moving Your Stocks from Robinhood to Webull
Transferring your investments between brokerages is typically done via the Automated Customer Account Transfer Service (ACATS). This system makes the process relatively smooth and secure. Here's what you need to know and do:
Step 1: Prepare for Takeoff – Get Your Robinhood Account in Order
Before you even think about initiating a transfer, you need to ensure your Robinhood account is primed and ready. Think of this as getting your luggage packed and double-checking your passport before a big trip!
Sub-heading: Important Considerations Before You Begin
Matching Account Information: This is crucial. The name, address, and Social Security Number (SSN) on your Robinhood account must exactly match the information on your Webull account. Any discrepancies can cause significant delays or even outright rejection of your transfer.
Account Type: Ensure you're transferring like-for-like accounts. For example, an individual taxable brokerage account from Robinhood can only be transferred to an individual taxable brokerage account on Webull. You cannot transfer an individual account to an IRA or joint account, for instance.
Fractional Shares: Robinhood offers fractional shares, but these cannot be transferred via ACATS. During a full transfer, Robinhood will automatically liquidate your fractional shares, and the resulting cash will be transferred to Webull (or sent to your linked bank account during a residual sweep). If you have fractional shares you want to keep, you'll need to sell them before initiating the transfer or accept that they will be sold by Robinhood.
Cryptocurrency: Robinhood Crypto holdings cannot be transferred to other brokerages, including Webull, via ACATS. You will need to sell your cryptocurrency holdings on Robinhood and then transfer the cash proceeds to Webull, or explore other options Robinhood may offer for crypto.
Options and Futures: Whole, settled options contracts that don't expire within 7 business days are generally transferable. Futures positions, however, are typically not transferable via ACATS from Robinhood and may need to be liquidated.
Account Restrictions & Negative Balances: Make sure your Robinhood account has no restrictions or negative cash balances. Resolve any outstanding issues before initiating the transfer, as these can cause significant delays.
Robinhood Gold: If you're a Robinhood Gold subscriber, any accrued management fees will be charged at the time of closure (for full transfers).
Fees, Fees, Fees! Robinhood charges a $100 fee for both full and partial outbound ACATS transfers. This fee will be debited from your Robinhood account's available cash balance. Webull, on the other hand, typically does not charge a fee to receive an ACATS transfer. Many brokerages, including Webull, may offer reimbursements for transfer fees if you transfer a certain amount of assets (e.g., $7,500 or more). Keep an eye out for such promotions from Webull and be prepared to provide proof of the fee from Robinhood to get reimbursed.
Sub-heading: Gather Your Robinhood Account Information
You'll need a few key pieces of information from your Robinhood account.
Your Robinhood Account Number: This is easily found within the Robinhood app.
Open the Robinhood app.
Tap the Account icon (person icon) in the bottom right corner.
Scroll down and tap on "Investing."
Your account number should be displayed at the top of this section.
Robinhood's DTC Number (if requested by Webull): While Webull usually initiates the transfer directly with your account number, some platforms might ask for a DTC (Depository Trust Company) number. For Robinhood Securities (RHS), the DTC number is 6769.
Recent Robinhood Account Statement: It's always a good idea to have a recent statement handy, as it contains all your account details, including holdings and sometimes the account number. You can usually download these from your Robinhood account online.
Step 2: Initiate the Transfer on Webull – Your New Brokerage
This is where the magic begins! The ACATS transfer process is initiated by the receiving brokerage, which in this case, is Webull.
Sub-heading: Log In and Find the Transfer Section
Log in to Your Webull Account: Open the Webull app or log in to the Webull desktop platform/website.
Navigate to Transfers: Look for a "Transfers" or "Deposit/Withdrawal" section. In the Webull app, you usually tap the Webull logo (bottom center) to access your account, then select "Transfers." On the web, you might find it under "My Account" or a similar menu.
Select "Portfolio Transfer" or "Transfer Assets In": Webull will have an option specifically for transferring assets from another broker. This might be labeled "Portfolio Transfer," "Transfer Stocks In," or "ACATS Transfer."
Sub-heading: Provide Robinhood's Information to Webull
Webull will guide you through a series of prompts to gather the necessary details for the transfer.
Select "Robinhood" as the Outgoing Broker: You'll be asked to select the name of the brokerage you're transferring from. Choose Robinhood.
Enter Your Robinhood Account Number: Carefully input the Robinhood account number you retrieved in Step 1.
Choose Transfer Type (Full or Partial):
Full Transfer: If you want to move all eligible assets from your Robinhood account and close it, select a full transfer. Remember: Robinhood will close your account after a full transfer.
Partial Transfer: If you only want to move specific stocks or a portion of your holdings and keep your Robinhood account open, select a partial transfer. You'll then be prompted to select the specific securities and quantities you wish to transfer.
Review and Confirm: Double-check all the information you've entered. Accuracy here is paramount!
Sub-heading: Submit Required Documents (if applicable)
Webull may require you to upload certain documents to verify your identity and the transfer request. This often includes:
A clear photo of your government-issued ID.
A signed transfer request form. Webull will likely generate a pre-filled form that you'll need to print, sign (ensuring your signature matches your ID), and then take a clear photo of to upload. Digital signatures are generally not accepted for ACATS forms.
An ownership statement (if applicable, though often not needed for standard brokerage accounts).
Step 3: The Waiting Game – Processing Your Transfer
Once you've submitted the transfer request to Webull, the automated system takes over. This is where patience becomes a virtue!
Sub-heading: What Happens Behind the Scenes
Webull sends the transfer instructions to its clearing firm (often Apex Clearing, which clears for many brokerages).
The clearing firm then sends the request to Robinhood's clearing firm (Robinhood Securities).
Robinhood Securities verifies the account information and initiates the transfer of eligible assets.
Sub-heading: Transfer Timeframe
ACATS transfers typically take 5 to 7 business days to complete.
However, delays can occur if there are discrepancies in your account information, outstanding issues with your Robinhood account (like negative balances or account restrictions), or if Robinhood is slow to release the shares.
During the transfer process, your assets will be frozen, meaning you won't be able to buy or sell the transferred securities on either platform until the transfer is complete. Plan your trades accordingly!
Sub-heading: Tracking Your Transfer
Webull usually provides a way to track the status of your transfer within their app or on their website. Keep an eye on this section for updates. You might receive notifications from Webull as the transfer progresses.
Step 4: Post-Transfer Checklist – Settling into Webull
Congratulations! Your stocks have officially landed in your Webull account. But you're not entirely done yet.
Sub-heading: Verify Your Holdings
Once the transfer shows as "completed" in Webull, carefully review your holdings to ensure all the expected stocks and cash have arrived.
Check the quantities and the cost basis of your transferred shares. Sometimes, it can take a few extra business days for the cost basis information to transfer over. If it doesn't appear after a reasonable time, contact Webull support.
Sub-heading: Consider Fee Reimbursement
If you incurred the $100 ACATS fee from Robinhood, and your transfer meets Webull's criteria for reimbursement (e.g., typically a transfer of $7,500 or more), contact Webull's customer support to inquire about getting that fee reimbursed. You'll likely need to provide proof of the charge from Robinhood.
Sub-heading: Close Your Robinhood Account (Optional, for Full Transfers)
If you performed a full transfer, your Robinhood account should be automatically placed on hold and eventually closed. However, it's a good practice to confirm with Robinhood that your account is indeed closed and all assets have been moved or liquidated. This ensures no lingering issues or fees.
Pro Tips for a Smooth Transfer:
Do not initiate trades on your Robinhood account once you've started the transfer process. This can delay or complicate the transfer.
Keep enough cash in your Robinhood account to cover the $100 ACATS transfer fee. If you don't have enough, your transfer may be delayed or rejected.
Be patient. While the process is automated, it still involves multiple financial institutions, and delays can happen.
Contact customer support of both Robinhood and Webull if you encounter any issues or have questions during the process. Start with Webull, as they are the initiating broker.
10 Related FAQ Questions
How to check my Robinhood account number?
You can find your Robinhood account number by opening the Robinhood app, tapping the Account icon (person icon) in the bottom right corner, and then selecting "Investing." Your account number should be displayed there.
How to find Robinhood's DTC number for transfer?
Robinhood Securities' DTC number is 6769. This number is sometimes requested by the receiving brokerage to identify the transferring firm.
How to transfer fractional shares from Robinhood to Webull?
You cannot directly transfer fractional shares via ACATS. Robinhood will automatically sell any fractional shares during a full account transfer, and the cash proceeds will be transferred to your Webull account. For partial transfers, you would need to sell them yourself beforehand if you want the cash to move.
How to transfer cryptocurrency from Robinhood to Webull?
You cannot directly transfer cryptocurrency from Robinhood to Webull. You must sell your cryptocurrency holdings on Robinhood and then transfer the resulting cash to your Webull account.
How to avoid Robinhood's transfer fees?
Robinhood charges a $100 fee for ACATS transfers. To avoid this fee, you would need to sell all your holdings on Robinhood, withdraw all the cash to your linked bank account (using standard ACH transfers to avoid instant transfer fees), and then close your empty Robinhood account. You would then need to deposit the cash into Webull and repurchase your desired stocks. However, Webull may reimburse the $100 fee for larger transfers, so check their current offers.
How long does it take to transfer stocks from Robinhood to Webull?
An ACATS transfer from Robinhood to Webull typically takes 5 to 7 business days to complete once initiated.
How to track my stock transfer to Webull?
Webull usually provides a dedicated section within their app or on their website where you can track the real-time status and estimated completion date of your portfolio transfer.
How to get Webull to reimburse Robinhood transfer fees?
Webull often offers to reimburse transfer fees (up to $75-$100) for incoming ACATS transfers, usually for accounts transferring $7,500 or more. After your transfer is complete and the fee from Robinhood has been debited, contact Webull customer support with proof of the fee (e.g., a statement from Robinhood showing the charge) to request reimbursement.
How to deal with pending trades during a stock transfer?
Any pending trades in your Robinhood account must settle before an ACATS transfer can be completed. It's best to avoid initiating new trades in your Robinhood account once you decide to transfer, as this can cause delays.
How to ensure my account information matches for the transfer?
Double-check that your name, address, and Social Security Number (SSN) are identical on both your Robinhood and Webull accounts. Even minor discrepancies can lead to transfer rejections. Update any outdated information on either platform before initiating the transfer.