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Robinhood Account Transfer Fee (ACAT) 2019


How much is Robinhood app charging in ACAT fee for partial and full brokerage account transfer (address, ETF and stock positions). Cost of Robinhood transfer fee on eligible account assets. Outgoing wire charges for 2019.



Robinhood ACAT (Account Transfer) Fee


Robinhood ACAT fee cost is $75 for full account transfer (stock positions and ETF's).


Robinhood Account Transfer


If you no longer find the novelty of a free brokerage app appealing and you're looking to transfer to a more traditional brokerage, then read on. Robinhood app offers outgoing ACAT transfers for an industry standard price of $75. While the trades are free, the account transfers unfortunately are not. There is no option given for partial account transfers.

The cost of this transfer is likely to be offset by your new brokerage's reimbursement of your transfer fees. Not all brokerages offer ACAT reimbursement so please make sure that your new brokerage offers reimbursement prior to moving your funds. Some popular brokerages that do not offer reimbursement of ACAT fees include: Fidelity, E-Trade, and Merrill Edge. Many other smaller brokerages don't include reimbursement as well so it's always a good idea to call and check to see if ACAT reimbursement is available at your new brokerage.

Brokerages typically have some leeway in deciding whether or not to offer somebody reimbursement. The larger your account, the better your chances of getting something to entice you to join. Nearly all brokerages, including Robinhood, do not charge a fee to transfer your account to their brokerage.


Popular Transfer Destinations from Robinhood


Broker Review Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Firstrade $0 $0 $0 $0 $0
Ally Invest $0 $9.95 $0 + $0.50 per contract $0 $0
TD Ameritrade $0 $49.95 $0 + $0.65 per contract $0 $0


How Many Customers Are Leaving


Data on account transfers is usually kept under lock and key. Most brokerages will not willingly provide information regarding how many accounts leave them each year. Luckily, this information can be found for a major broker, E-Trade, due to its publicly traded status. The account attrition rate was 8.5%, 9.7% and 8.7% for the years ended 2016, 2015 and 2014, respectively, according to E-Trade's most recent 10-K. With over 3 million accounts at E-Trade, this amounts to nearly 300,000 accounts transferring out each year at E-Trade alone with a little more than that transferring in or creating new accounts. Millions of people transfer accounts each year, some people do it to take advantage of promotions, some because of higher levels of service and education tools, and others because of lower fees.


Robinhood Account Transfer


Why Customers Are Leaving Robinhood


If you're transferring from Robinhood, it's unlikely you're doing so because of high commissions, given that there are no commissions. If you're looking for better tools and education, nearly every broker, even the discount ones like Ally Invest, will offer tools to help and support you along with market data. Many people leave Robinhood because they were unsuccessful at picking individual stocks that beat the market and they are now looking to simply buy index mutual funds. If this is the case, the top new brokerages are shown above.

By switching from Robinhood to one of the above brokers, you can buy many mutual funds and ETFs commission free while enjoying the benefits of market data and educational tools as well as a more standard brokerage platform with more tools and options.


How To Close and Transfer Robinhood Account


To learn how to close a Robinhood account and transfer it to another broker follow this link »


Robinhood Wire Transfer Fees


For out-going wire transfer at Robinhood there is $25 fee per domestic transfer, and $50 for international transfer. Incoming wires are free.


Comparison


Read TD Ameritrade vs Robinhood Review »


Robinhood Account Transfer Fee Disclaimer


To view current Robinhood ACAT fees (full and partial account transfer out, as well as wire transfer and ACH fees and ACAT eligibility status) visit their online portal.