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

How to Transfer a Robinhood Account to WeBull

If Robinhood hasn’t provided the trading experience you’re looking for, you might want to try another zero-cost firm: Webull. Making the change is easier than you think. Just follow this step-by-step guide:

Step 1

Take into account the potential cost of the switch. Robinhood customers must pay $75 to move an account to another brokerage firm. This fee will be deducted from the account before it moves to Webull. Unlike many other brokers, Webull doesn’t currently have any promotions to refund this fee. Webull does offer one free share of stock for deposits greater than $100. Usually, the stock is valued at less than $10.

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Open WeBull Account

Step 2

Liquidate any options or cryptocurrencies you hold. Webull doesn’t offer trading in option contracts or digital currencies. So if you hold any of these investments, you need to sell them first. If you attempt to move an account with these assets, Webull will reject the transfer. Stocks, ETF’s, and American Depository Receipts will transfer just fine.

Step 3

Open a new Webull account. When your Robinhood account is ready to go, it’s time to open a Webull account. There is no need to contact Robinhood.

To get a free stock, click on WeBull's promotion offer on your phone: Get one FREE stock between $8 and $1000 when you deposit $100+ at WeBull.

After you have the app installed, tap on ‘Trade’ and select the account type you want. Any account you transfer to Webull must be of the same type you hold at Webull. So make sure this is the same account type as your Robinhood account.

Step 4

Inside the Webull app, request an ACAT transfer. Tap on ‘Deposit’ at the bottom row of icons. Then tap on the ‘Transfer’ button in the middle of the screen. On the next screen, Webull reminds its customers that it only supports equities. Here, tap on the blue button that says ‘Transfer Stocks to Webull.’

How to Open a WeBull Account

On the next screen, you’ll be presented with a row of icons for the major brokerage firms in the U.S. space. Robinhood is one of them. Tap on the green icon. A pop-up warning will be displayed that mentions that transfers below $500 aren’t supported.

On the next screen, the account type and name will be automatically populated because they must match the Webull account. You can do either a full or partial transfer. For partial transfers, only long positions can be moved. Full transfers are easier because you can just specify everything in the account. Also, you’ll need to input your Robinhood account number. Webull states that the whole process, once submitted through its app, should take no more than a week and a half.

Step 5

Evaluate alternatives. If you decide Webull won’t be any better, you could spend a little extra and go with Firstrade. The company has $0 commissions like Robinhood and Webull; but it has an ACAT transfer rebate program. Another idea is to liquidate all holdings at Robinhood and then move the cash out.

WeBull Promotion

Get one FREE stock between $8 and $1000 when you deposit $100+ at WeBull.

Open WeBull Account


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