Transfer Interactive Brokers to Robinhood

How to Transfer Robinhood to Interactive Brokers & Vice Versa


2021: How to transfer Interactive Brokers (IBKR) account/stocks/portfolio/IRA/money to Robinhood brokerage. How much is a transfer fee and how long does it take.


How to Transfer Between Robinhood and Interactive Brokers


If you want to move your Robinhood account to Interactive Brokers (or vice versa), we’re going to show you exactly how to do that in the shortest amount of time.


Transfer an Account from Interactive Brokers to Robinhood


Although Interactive Brokers does perform electronic account transfers, Robinhood does not accept any incoming transfers. While this is obviously disappointing and will slow things down somewhat, it’s still possible to get funds from IB into a Robinhood account. Here’s how:

The first thing you need to do is sell whatever positions you want to move from your Interactive Brokers account. These sales will result in a cash position, although it will take up to two business days for the funds to be available for withdrawal. Once the funds are ready to be taken out, you can transfer the cash to a linked bank account.

To do this, you’ll obviously need to connect an external deposit account to your IB trading account if you haven’t done so at this point. This can be accomplished by clicking on the Transfer & Pay link at the top of IB’s site.


Transfer Interactive Brokers to Robinhood


In the drop-down menu, select Transfer Funds. On the page that appears, you can select either a bank wire or ACH transfer. The latter route is a little slower but only costs $1 per withdrawal after one free withdrawal per month.

A bank wire can be sent the same day (assuming the cash position is available for withdrawal) but will carry a $10 fee after the first free withdrawal in the month. A wire also has no limit. ACH transfers are capped at $5 million each.

If you would rather send funds to your bank the old fashioned way, there is an option on the Transfer Funds page to receive a paper check in the mail. There is a $4 fee for this option if it’s your second or subsequent withdrawal in the month.

Once you have the cash in your savings or checking account, you can transfer the money via the ACH system into your Robinhood account (Get one FREE stock when you open an account. ). You can link the bank account inside your Robinhood account by tapping on the person icon in the bottom menu and selecting Transfers.


Open Robinhood Account



Open Robinhood Account


Transfer a Robinhood Account to Interactive Brokers


Although Robinhood won’t accept incoming ACATS transfers, it will perform an outgoing transfer. To do this, you’ll want to follow these steps:

Step #1: Open a new Interactive Brokers account. Click on the blue Open Account button at the top of the company’s site and follow the prompts. The new account must have the same name on it as your Robinhood account and must be of the same account type (individual).

Step #2: Prepare your Robinhood account for the upcoming transfer. If you plan to do a full transfer, you’ll want to make sure that all trades have settled and all open orders have been filled or cancelled.


Transfer Robinhood Stocks to Interactive Brokers


Step #3: Submit an ACATS request inside your new Interactive Brokers account. To start this process, click on the same Transfer & Pay link and then select Transfer Positions this time. On the page that follows, you’ll want to select ACATS.

On the next page, you’ll see a few popular brokerage firms listed; Robinhood is one of them, so click on the Robinhood link. You’ll need to enter your account number and specify whether you’re doing a full or partial transfer.

If you select full transfer, your Robinhood account will be closed when the transfer completes (IB promises about 3-4 business days). If you select partial, then you’ll need to specify the assets you want moved.

Cryptocurrency positions cannot be moved out of a Robinhood account at this time, although other assets can. Moreover, Interactive Brokers will not accept incoming transfers of some micro-cap stocks.

Although Interactive Brokers charges nothing for incoming ACATS transfers, Robinhood does have a $75 outgoing fee. IB does not reimburse the fee.


Open Interactive Brokers Account



Open IB Account


About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.