Has anyone transferred stocks from Robinhood to Fidelity? I transferred my Robinhood account about a week ago. Does anyone know if the cost basis information will transfer? It is not showing up at this time. Thanks
If you are switching from Robinhood to Fidelity, it can take up to 2 weeks for your assets to be transferred over. Additionally, data from your stock portfolio, such as cost basis and profit/loss, will be missing or incorrect until the transfer has been completed.
During this period, there is nothing you can do to speed up the process. Once you provided your Robinhood account’s information to Fidelity, the brokerage will take care of everything.
You should be on the lookout for any additional info that the Fidelity team may ask for. It’s not uncommon for customers to provide invalid, incorrect, or missing info about their accounts. That could slow down the asset transfer process.
Fidelity customers can use the Transfer Tracker tool to check on their asset transfer request.
Here’s another question from a former Robinhood customer who just switched over to Fidelity.
Hey guys i have a question. I’m making a switch from Robinhood to Fidelity but only thing is i cant get the real time prices on the app, i tried chatting with the reps at Fidelity and they made me do a update and sign a agreement from the website, and i still dont get the streaming option under quote updates. And one more thing. Robinhood gave me instant money to trade with up to 1000 before even funds came in, does fidelity have anything like that?
Real-time quotes are free for Fidelity customers, but need to be enabled manually by signing the real-time quotes agreement. Follow the instructions provided here.
This is for all of you who are in the middle of transferring out of robinhood over to Fidelity
I made a timeline for you…
Signed up for Fidelity and initiated full asset transfer. (Friday, 1/29)
Robinhood recieved transfer request. RH account locked/deactivated (Saturday, 1/30)
All Stocks transferred over to Fidelity (By default RH accounts are Margin so stocks transfer over as Margin but will change to Cash after you pay transfer fees and margin debt if any). Also, > all fractional shares in Robinhood liquidated. (Wednesday, 2/3)
Money from liquidated fractional shares finally transferred over to Fidelity (Monday, 2/16)
After weeks of no cost basis information Robinhood admitted a mistake in their side and finally sent my cost basis information over (Monday, 3/1)
Transfer officially complete
Will take about a week or so after assets transfer for the cost basis and other info to be ported over! No worries just be mindful of STASH and their ways
Give it some time . Took like 10 days or so when I transferred over from robinhood
It’s takes up 2 weeks and honestly what I did is go on fidelity chat line and they helped me fix that
Just want to share. Fidelity will reimburse you the $75 transfer free when switching brokerages. Just call a rep and ask about it. I just got off the phone.
I transferred all my robinhood and m1 finance accounts into fidelity. Best decision i made. Fidelity has everything i need and more.