You may want to transfer your Robinhood account to Fidelity for a number of reasons. Maybe you’re unhappy with Robinhood’s customer service or want to trade a wider range of assets than Robinhood offers. Whatever the reason, it’s easy to do.
In this guide, I will show you the steps to transfer your assets from Robinhood to Fidelity Investments.
Step 1: Open a Fidelity account. Use this coupon code to earn $100 in deposit bonus.
Step 2: Fill out the Transfer Request form online to transfer your securities from Robinhood to Fidelity.
Step 3: Select Robinhood Securities Llc as your current broker.
Step 4: Click Next.
Step 5: Enter your Robinhood account number and select Brokerage Individual as your account type.
Step 6: Proceed with the rest of the on-screen instructions and submit your request.
After completing the Transfer of Assets form, Fidelity will take care of everything else for you.
When transferring your assets from Robinhood to Fidelity, it’s important to note that the process can take up to two weeks to complete.
During this time, you may not have access to certain information about your stock portfolio, such as cost basis and profit/loss.
However, once you have provided your Robinhood account information to Fidelity, they will take all the necessary steps to move your assets to your new account.
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.
Real-time quotes are free for Fidelity customers, but the feature needs to be enabled manually by signing the real-time quotes agreement. Follow the instructions provided here.
- Because Robinhood only offers individual investing accounts, your Fidelity account type is defaulted to Individual.
- To transfer margin positions, you must first add margin trading to your account. To do so, simply complete and submit our margin agreement.
- To transfer options positions/investments, you must first be approved for options trading at Fidelity.
💬 Personal Timeline Process
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 received the transfer request. RH account locked/deactivated. (Saturday, 1/30)
All Stocks transferred over to Fidelity. Also, all fractional shares in Robinhood were liquidated. (Wednesday, 2/3)
Money from liquidated fractional shares was finally transferred to Fidelity. (Monday, 2/16)
After weeks of no cost basis information, Robinhood admitted a mistake on their side and finally sent my cost basis information over. (Monday, 3/1)
Transfer officially complete!