Can I transfer TD Ameritrade account, IRA, stocks, ETFs, assets, money to Robinhood brokerage in 2022. How long does it take and how much does it cost.

Switching Brokerage Accounts: TD Ameritrade to Robinhood

TD Ameritrade is a popular broker, offering features and services designed to target just about every type of investor. For beginners and seasoned veterans alike, TD Ameritrade provides plenty of opportunities and tools to keep its customers happy. For example, TD Ameritrade is home to the award-winning charting platform, Thinkorswim (TOS). Despite its popularity, however, it is not the easiest platform to use. For traders looking for less of a learning curve, or for anyone looking for a more mobile-friendly approach to investing, making the move to Robinhood is an attractive idea.

Investors at Robinhood can enjoy a host of useful features as well. The broker offers one of the easiest trading platforms to use, and there is a fair amount of market/ticker news that keeps traders informed. Also available are curated watchlists that are great for inspiration and to get a wider view of market activity. Everything about Robinhood’s approach to investing speaks to making the world of investing more accessible to more people.

Benefits of Moving to Robinhood

Apart from the ease of access to the markets, Robinhood offers a lot of other benefits that are popular with investors. Here are some of the most notable features.

Free stocks

One thing that has helped the broker build a loyal customer base is the free stock program. Robinhood was one of the first brokers to offer promotions with free stocks and it has proven to be such a popular idea that the practice has been adopted by nearly all other brokers to some extent.

When transferring a brokerage account from TD Ameritrade (or any other broker), new users receive a free stock for opening a new account, as well as for funding the account. It is also possible to continue receiving free stocks by inviting friends and family to join.

Fees and Commissions

Another attractive feature is the broker’s zero-commission policy. Robinhood does not charge a commission for stocks, options, ADRs, ETFs, and some OTC stocks. Traders at Robinhood will still pay the exchange fees, but they are negligible in most cases. Robinhood Gold users also enjoy free withdrawals.


Robin Hood Trading Bitcoin


Trading Platform

The trading platform is another attractive feature. It is not in the same league as TOS, but traders who prefer Robinhood’s approach are usually not looking for something as advanced as what TD Ameritrade offers. AT Robinhood, investors can take advantage of the mobile platform or the web-based version of the same software. Some basic charting is available, and with Robinhood Gold even more tools are unlocked.


Robin Hood Charts


Fractional Shares

Fractional shares are another reason many traders look to Robinhood. Investors can create diverse portfolios, including some of the most popular tickers on the stock market, with as little as a couple of dollars. In fact, it is possible to buy a fractional share for as little as $1. Paired with the fact that Robinhood does not have an account minimum, fractional shares have become quite popular investors looking to grow their accounts.

Robinhood Promotion

Open an account and get one free stock.

Open Robinhood Account

Cash Management Services

Yet another attractive feature is the cash management features on offer. A Robinhood margin account also doubles as a bank account, as long as the feature is enabled by the account holder. To help with money management, Robinhood offers a debit card with which investors can use to withdrawal settled funds from their account.

Preparing for the Move from TD Ameritrade to Robinhood

To make the switch from TD Ameritrade to Robinhood, the first thing that investors should be aware of is that Robinhood does not accept incoming ACAT transfers. ACAT transfers are the most common way to move accounts from one broker to another. These transfers allow traders to move their capital, including open stock, ETF, and options positions, to another account without going through the process of ‘going to cash’ first.

In the absence of ACATS, traders do need to liquidate any positions that they wish to move. The process of moving the account from TD Ameritrade to Robinhood, simply involves selling off any open positions, waiting the required number of days for cash to ‘settle’ (usually 3 business days), and then transferring the funds into a third-party bank.

Once the funds are in the bank, funding the Robinhood account is the next step.

Funding Your Robinhood Account

To fund the new Robinhood account, there are two primary methods that the broker supports. New margin accounts can be funded with ACH transfers and Wires.

Wire transfers are known to be both fast and secure. Although they are more complicated to set up, the money can be active in the account in a day or two. Wire transfers can be a bit more expensive than the ACH alternative, however. Robinhood does not collect a fee for transfers, but banks generally do.

A cheaper alternative is the ACH transfer. Once a bank account is linked to a new Robinhood account, the transfer takes place in a matter of minutes. It is possible to transfer up to $50,000 on the first day. Something to keep in mind is that Robinhood offers ‘Instant Transfers’. This service uses margin to fund an account instantly, as soon as an ACH transfer is completed. These types of transfers can often take up to 5 days to clear, but with instant, traders can start investing right away.

Robinhood Promotion

Open an account and get one free stock.

Open Robinhood Account


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