So you're tired of Robinhood and its antics and want to transfer to Webull?
Robinhood went too far by limiting in over 50 stocks to protect their customers who purchase order flow data from them.
If you want to freely buy stocks like Gamestop (GME), AMC Theatres (AMC), and Koss (KOSS) then you must switch to a different broker like Webull.
Transferring your assets from Robinhood to Webull is pretty simple and I'll outline the entire process here to save you time and headaches.
Step 1: Gather The Necessary Transfer Information
Robinhood supports both partial and full account transfer. If you want to transfer all your stocks from Robinhood then they will close your account once the process is over.
Your Robinhood Account Number
You'll need your Robinhood account number to initiate the transfer on Webull's app.
To find your Robinhood account number:
- Tap the account icon in the bottom right corner.
- Tap the drop down menu in the top right corner
- Tap “Investing” and your account number will be visible at the top of your screen.
Robinhood's DTC (Depository Trust Company) number is 6769. You'll see this inside the Webull app during the transfer process.
You can only transfer US stocks, ADRs, and ETFs that are currently tradable on Webull.
Webull doesn't currently support any bonds, mutual funds, bonds, or pink sheet OTC stocks.
Step 2: Initiate the Transfer from Robinhood to Webull
For starters, you need to open a Webull brokerage account.
Open the Webull app and initiate the transfer in the following steps:
- Click the Webull Logo and hit “Transfer”
- Tap on “Transfer Stocks into Webull”
- Tap “Robinhood” on the screen
- Fill Out The Necessary Information
You'll need to select your account type, enter your full name (same as your Robinhood account), Robinhood account number, and transfer type.
Select the acknowledgement button and hit “Submit Stock Transfer Request”
Webull Transfer Facts & FAQs
Transferring your stocks from Robinhood to Webull only requires following some simple steps and waiting for the transfer to clear. However, there are a few important things to remember.
$500 Transfer Minimum
Webull doesn't support transfer for less than $500 due to the high transfer costs.
If you want to transfer your stocks for free then sell your stocks on Robinhood, withdraw the money to your bank, then deposit the money into your Webull account.
$75 Transfer Fee
Webull doesn't charge a transfer fee but Robinhood charges $75 for full or partial transfer. Robinhood will deduct the $75 from your account before initiating the transfer.
How Long Does It Take to Transfer from Robinhood to Webull?
Transfers into Webull take 5 to 7 business days.
The transfer time may be longer if your Robinhood account type differs from your Webull account.
Unsettled stock purchases or ACH transfers could delay the process even further.
Can Fractional Shares Be Transferred to Webull?
Webull doesn't support fractional share trading.
Robinhood will sell your fractional shares and transfer the cash into your Webull account.
Can Cryptocurrency Be Transferred to Webull?
Robinhood cryptocurrency is stored an a separate account that's not transferable to Webull.
The best method is to sell your cryptocurrency then transfer the cash to Webull and buy it back again.