Instructions to transfer Robinhood account, stocks, ETFs, assets, money to Firstrade brokerage in 2019.

How to Transfer a Robinhood Account to Firstrade

If you’ve tried Robinhood, but want to give Firstrade’s $0 commission schedule a try, it’s pretty easy to do. Just follow the easy steps in this article, and you’ll be ready to go with your new account.

Step 1: Look Over Firstrade’s Pricing Schedule

Before transferring your account to Firstrade, you want to make sure you’re aware of Firstrade’s fees and commissions. Trades of stocks, options, ETF’s, closed-end funds, and mutual funds are completely free. Accounts also have no fees. One difference, however, is that Firstrade charges $14.95 for option exercises and assignments.

Firstrade Promotion

$0 commissions + up to $200 in transfer fee rebates.

Open Firstrade Account

Step 2: Open a Firstrade Account

If everything on the broker’s commission schedule looks acceptable to you, the first step in moving from Robinhood is to open a Firstrade account. This is a fairly straightforward process. Simply click on their promotion offer - $0 commissions + up to $200 in transfer fee rebates.- and follow the online instructions.

Step 3: Submit an Account Transfer Request

After your Firstrade account has been open for at least one business day, it’s time to submit an ACAT request to move your Robinhood account into your Firstrade account. When you login to your new Firstrade account, click on the “Home” tab in the top menu. On the next page, you should see a top menu with several methods to fund your new account. One of them will say, “Transfer assets from another brokerage firm.” Click on this.

FirstTrade ACAT Transfer

The next page will display a simple form you’ll need to fill out. Under “Firm Name” you can start typing Robinhood, and the website will automatically populate “Robinhood Financial, LLC” in the drop-down menu. Select this. You’ll also need your Robinhood account number to complete the form.

It’s possible to do a partial transfer where some securities are left at Robinhood and others are moved to Firstrade. To take this route, you’ll need to download Firstrade’s pdf transfer form, fill it out, and send it back to Firstrade.

You can do this via several methods. The most convenient is probably to upload it through your online account. There is an upload link on the account transfer page. You can also find the upload link under the “Customer Service” tab. Be sure to click on “Form Center” and then “Upload Form.”

Keep in mind that Firstrade doesn’t offer cryptocurrencies; so if you have any digital currencies at Robinhood, you’ll want to liquidate those positions.

Step 4: Wait for Your Robinhood Securities to Move

The transfer process could take three to four business days to finish. It’s best not to trade during this period. Doing so could delay the process. Once the transfer is complete, your Robinhood account will be automatically closed if you requested a full transfer.

Step 5: Wait for Your Transfer Fee Rebate

Robinhood charges $75 for its side of the transfer. Fortunately, Firstrade doesn’t charge anything for its ACAT service. In fact, it actually refunds the old broker’s fee for full transfers. Obviously, if you want the rebate, you’ll need to perform a full transfer.

Firstrade Promotion

$0 commissions + up to $200 in transfer fee rebates.

Open Firstrade Account


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