Can I transfer a Robinhood account, IRA, stocks, ETFs, assets, money to WeBull brokerage in 2021. How long does it take and how much does it cost.

How to Transfer a Robinhood Account to WeBull

Webull is one of Robinhood’s biggest rivals. Although there are many similarities between these two brokerage firms, there are some differences; so you may want to be at Webull instead of Robinhood. Keep reading; we’re going to show you step-by-step exactly how to make the move.

Step 1: Open an Account at Webull

To perform an account transfer from Webull to Robinhood, you’ll be using the Automated Customer Account Transfer (ACAT) Service. It’s fully electronic, which helps to speed things up and simplify the bureaucracy involved as much as possible.

When performing an ACAT transfer, you do everything on the receiving end. In this case, that’s Webull; so you want to first open a new account at Webull by clicking on their promo link: Grab your last chance to get 2 free stocks valued up to $2,300 and $5 of Bitcoin. You’ll be initially asked for your email address or phone number; to get the full account open, you’ll need to supply further details such as address and Social Security Number.


move Robinhood to Webull


When opening your Webull account, be sure to open the same account type you have at Robinhood and put the same name on it. The account types and names must match up. Because Robinhood only offers individual taxable accounts, that’s what you should open at Webull.

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Step 2: Request an ACAT Transfer

With your Webull account up and running, it’s time to fill out the ACAT transfer form to get your assets at Robinhood moved over. The account itself doesn’t move; it’s just the assets inside the account that get transferred.

When you request an incoming transfer from inside your Webull account, you’ll be able to specify full or partial transfer. If you select the former type, every position will be moved into your Webull account, and your Robinhood account will be closed.

If you choose the latter option, you will be able to select specific securities to move into your Webull account, and the others will remain behind. Obviously with this option, your Robinhood account will remain open. With either choice, remember that cryptocurrencies can’t be transferred through the ACAT network.

Webull’s account transfer form can be found on either its website or its mobile app. It is not available on its computer trading platforms.

On the website, you’ll see the Transfer Stocks link on the left-hand side after logging in. Click on this to pull up Webull’s account transfer form, which is completely digital. You won’t have to mail in any paperwork, although you may need to attach your most recent Robinhood account statement in pdf format.


Transfer Robin Hood Account to WeBull


On the very first page, you’ll need to specify the brokerage firm you’re transferring from. You’ll see a list of brokers and their logos. Robinhood’s is prominently displayed at the top; click on it and Robinhood will automatically be populated as the outgoing broker.

To perform the transfer on the mobile app, tap on the bull’s horns in the bottom menu. Next, tap on the orange Transfer tile. On the next screen, tap on Transfer Stocks into Webull. This will pull up the mobile ACAT form. It is the same as the website version. Be sure to tap on the Robinhood logo to specify the outgoing broker.

Fine Print

Webull will not accept an incoming transfer valued at less than $500. Moreover, although it doesn’t charge anything for an incoming transfer, Robinhood does assess a $75 fee for an outgoing transfer. Fortunately, Webull has regular ACAT rebate specials. Webull right now will make an ACAT fee rebate for any account transferred in that’s valued at $800 or more.

Even better, if your Robinhood account is valued at $2,000 or more, you will receive free stocks on top of the ACAT fee refund. The one caveat is that the transfer must be your first transfer into Webull. Customers who have transferred an account in before are not eligible.

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Webull


Updated on 3/12/2021.

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