Can I transfer a E*Trade account, IRA, stocks, ETFs, assets, money to Robinhood brokerage or the other way? How long does it take and how much does it cost?

Moving a Brokerage Account from Robinhood to E*Trade and from E*Trade to Robinhood

Thanks to the ACAT electronic transfer network, moving a brokerage account from one firm to another is now a simple and quick process. If you have a securities account at E*Trade or Robinhood and want to be at the other location, keep reading. You can easily make the switch.

Transferring from Robinhood to E*Trade

To get your Robinhood investments over to E*Trade, just follow these simple steps:

Step #1: Open an E*Trade Brokerage Account

Although it may seem obvious, you do need to open (the correct) E*Trade brokerage account. We do emphasize the importance of opening the correct account type because in an ACAT transfer, both account types must be identical. For example, you can’t transfer a Coverdell account into an IRA. Also, the account must be a brokerage account and not a bank account.

Because Robinhood only offers individual accounts, that’s what you must open at E*Trade to do a migration from Robinhood. If you currently have an E*Trade securities account that’s not an individual account you can open a new individual account and transfer holdings electronically into your individual account from your current E*Trade account. Keep in mind that doing so could have tax implications, so consult your tax advisor before taking this step.

The name on the E*Trade account should match what’s on the Robinhood account. It is possible to transfer an account titled with a different name into E*Trade, although it’s a huge pain. If you really want to do this, you should contact E*Trade to request a hard-copy transfer request form. An electronic transfer is not possible in this situation (it’s a non-ACAT transfer). You will have to get documents notarized. As we said, it’s a huge pain. It will probably be easier just to open a new individual account with the correct name and then do the transfer into the new account.

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Step #2: Get that E*Trade Account Ready

There are a few chores in your new account that may need to be completed before initiating a transfer. First, if you plan to transport option contracts, you will need to add option trading to your E*Trade account. Remember that the level must match the level of the positions you’ll be moving over.

It’s possible to move a margin debit into E*Trade, but this will first require margin privileges on the E*Trade account. If you need to add margin to an existing cash account, click on the Customer Service link in the upper-right portion of the website and then select Margin Upgrade on the following page.

Step #3: Get Your Robinhood Account Ready

With your E*Trade account fully prepared, it’s time to prep your Robinhood account for the approaching relocation.

Robinhood will not transfer any option contract that expires within 5 days. If you have any of these, you should close them out (in the case of a full transfer) or simply don’t transfer them (in the case of a partial transfer).

Fractional shares won’t transfer, either. If you request the transfer of a fractional share, Robinhood will convert it to cash before sending the position over.

A special note about cryptocurrencies: these cannot be transferred under any circumstances. They do have a separate account at Robinhood, so be sure not to use this account in a transfer.

Before starting an ACAT, you should allow all trades to settle in the Robinhood account. You should also close out any open orders.

Step #4: Start the Transfer

To initiate a transfer, you simply need to fill out a basic online form with the incoming brokerage house. That’s E*Trade here, and it has a very user-friendly application.

Transfer Robinhood Stocks to Etrade

On the website, click on Transfers in the upper-right corner. In the sub-menu that appears, select Transfer Account. Once on the transfer page, you’ll need to select the outgoing brokerage firm. Robinhood’s logo appears underneath the search field, so just click on the logo. This will help to prefill some information. Enter other details such as account number and approximate value of transfer. You’ll be able to specify full or partial transfer on this application. Remember that if you choose full transfer, your Robinhood account will be closed.

Once everything is filled in, submit the form, and E*Trade will notify Robinhood. There’s nothing left to do at this point except wait.

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Transferring from E*Trade to Robinhood

Going in the other direction follows a similar journey.

Step #1: Open a Robinhood Account

This is easy to do on either the Robinhood mobile app or website. Remember to use the same name in the account application that is on the E*Trade account.

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Step #2: Prepare Your Robinhood Account

If you need to add margin to your Robinhood account (to accept a transfer of a margin debit, for example), you’ll need to sign up for Robinhood Gold, which costs $5 per month.

If option contracts are coming over, be sure to add options trading to your Robinhood account. The option level must match or exceed the level required by the option positions being moved.

Step #3: Prepare Your E*Trade Account

Getting your E*Trade account ready may be somewhat more involved. The reason is that E*Trade offers many asset classes that are totally off limits at Robinhood. These investments include bonds, mutual funds, closed-end funds, futures contracts, and most OTC stocks.

If you have any of these instruments, you’ll need to liquidate them if you’re thinking full transfer. For a partial transfer, you could simply leave them behind.

Option contracts that expire in under a week cannot be moved into a Robinhood account. You’ll want to close these out or wait until they expire before submitting a transfer application. With a partial transfer, you can simply exclude them from the transfer.

If you don’t want to transfer a margin debit, you could pay that off now. The same recommendations mentioned above for open orders and unsettled trades should be followed.

Step #4: Submit an ACAT Request

With both investment accounts fully prepped, it’s time to pull the trigger and start a transfer. This will be done using Robinhood’s mobile app. The website doesn’t have an ACAT form.

On the mobile app, the starting point is the little guy in the bottom-right corner. Tap on this icon and then hit the menu icon (three horizontal lines in the upper right). Next is Transfers, and after that, it’s Transfer Accounts into Robinhood.

Transfer ETRade Stocks to Robinhood

Robinhood’s ACAT form starts with a list of broker-dealers. You’ll need to scroll down and find E*Trade. Select E*Trade and enter all requested information, like account type (remember, it must be individual) and account number. Once submitted, Robinhood will take over.

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Time Frame and Fees

An ACAT transfer in either direction should take between one and two weeks.

E*Trade charges $75 for full transfers and $25 for partials. The $25 fee will be waived if the remaining account balance is above $5,000. In either case, Robinhood will reimburse E*Trade’s ACAT fee. Be sure to hang onto any account statement that lists the transfer fee charged.

Robinhood charges $75 for either type of outgoing transfer.

Updated on 3/7/2022.

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