How to move portfolio out of Robinhood?
I am looking to move my portfolio away from Robinhood to Fidelity. What is the best way to do it? Currently, I am thinking of selling all the stocks, transfer all the money to Fidelity, and then buy all the stocks. Is there a better way? PS: I am a newbie trader/investor and have a small portfolio. #personalfinance #investments #Robinhood #Robincrook #advice
Just google this. Robinhood has an article explaining the process. You transfer the account without selling the stocks but you pay a $75 fee. Hopefully enough folks flood the blog post on it their site goes down
Transfer your account: https://robinhood.com/us/en/support/articles/transfer-stocks-out-of-your-robinhood-account/ Many alternative brokerages will reimburse the transfer fee
Check Webull https://act.webull.com/pt/Fe4qCOiBqR6V/7ih/inviteUs/ they cover the transfer costs and also, 4 free stocks for opening account.
Takes 5 business days
selling makes your gain taxable, don't do that.
Then would it be better to transfer ?
Stopped almost a year ago .. moved everything to fidelity and Schwab
Yes