Transfer From Robinhood to TD Ameritrade

How to Transfer Robinhood Account to TD Ameritrade


2022: How to move Robinhood stocks to TD Ameritrade (brokerage or IRA account portfolio and money). How much is a transfer fee and how long does it take.


How to Transfer From Robinhood to TD Ameritrade


If you’re currently at Robinhood but want to invest in bonds, annuities, or mutual funds, you could move your account to TD Ameritrade. The latter brokerage firm has these products and much more. Here’s how to do the transfer:


First, Open a TD Ameritrade Account


In an electronic transfer of assets from one brokerage house to another, the accounts themselves aren’t actually moved. Instead, investments inside one account are swept into another account. So the first step is to open a new account at the broker that has won your business. If you already have an account there, you may not need to open a new account.

The outgoing and receiving accounts must be the same type and must have the same name on them. Because Robinhood only offers individual accounts at this time, that’s what you must have at TD Ameritrade. You cannot transfer assets from a Robinhood account into a retirement account or education account at TD Ameritrade, for example, even though TD Ameritrade does offer these account types. So be sure to open an individual account.


Open TD Ameritrade Account



Open TD Ameritrade Account


Second, Prepare Your TD Ameritrade Account for the Upcoming Move


Now that you have the correct TD Ameritrade account open with the same name on it that your Robinhood account is titled with, it’s time to get your TD account ready to accept a transfer. This step could require several tasks, depending on what you plan to transfer.

If you’re going to transfer option contracts, you need to ensure that options trading is enabled on your TD brokerage account, including the correct level of option trading. Option spreads, for example, require a higher level of approval.

TD Ameritrade will accept transfers of margin balances, but of course you’ll need to make sure you have first added margin privileges to your account.

If you didn’t open a margin account with your original application, it’s easy to add. Just log into the TD Ameritrade website and hover over Client Services in the top menu. In the drop-down window that appears, click on General underneath My Profile. On the next page, you’ll be able to change your cash account to a margin account. Just look for the Margin Trading link underneath Elections & Routing.


Third, Prepare Your Robinhood Account for the Upcoming Transfer


Only cash and securities can be moved in an electronic transfer, and cryptocurrencies don’t qualify as either. Digital currencies are held in a discrete account at Robinhood, so you simply should not use this account in a transfer. TD Ameritrade does not offer cryptocurrency trading and probably never will.

A securities account at Robinhood holds cash, stocks, ETFs, and options. This is the account to specify in a transfer.

TD Ameritrade will not accept transfers of option contracts that expire in less than 2 weeks. If you have any of these positions, you will want to close them out in your Robinhood account before requesting a full transfer.

You could do a partial transfer and leave the contracts behind. Keep in mind that if you choose this route, your Robinhood account will remain open. A full transfer will close your Robinhood account.

With either transfer type, you should allow all trades in your Robinhood account to settle before requesting a transfer. Open orders should be closed out as well.


Fourth, Request a Transfer


A request for an e-transfer of cash and securities is made with the incoming brokerage firm, which in this case is TD Ameritrade. The request can be made on either the TDA website or regular mobile app.

On the website, hover over My Account in the top menu and then select Account Transfer. This will give you the broker’s digital transfer form. Be sure to enter Robinhood as the outgoing brokerage firm, and then supply other requested details.

On the mobile app, tap on the More icon in the bottom menu and then select Transfer funds. On the next page, tap on the green New Transfer button. This will give you several transfer choices. You want the one that says Account Transfer. The others are for bank transfers.


Transfer Robinhood Stocks to TD Ameritrade


Follow the prompts, entering all requested information, including Robinhood as the external brokerage firm.

Note that TD Ameritrade has two mobile apps. Only the regular mobile app has the account transfer form. The thinkorswim app does not.


Fifth, Wait Patiently


TD Ameritrade estimates that the entire process will take about 5 to 8 business days if the transfer is a full transfer. A partial transfer takes significantly longer (about 2 weeks longer).

To keep an eye on a transfer’s progress, you can visit the website, going once again to the My Account tab. This time, select Activity from the Deposits & Transfers sub-menu. The Activity tab will display any pending transfers an account has and their statuses.


The Cost of Transferring


Robinhood charges $75 for every outgoing account transfer. TD Ameritrade charges nothing to receive an incoming transfer. If you keep your Robinhood account statement that shows the $75 charge and submit it to TD Ameritrade, the broker will refund the fee.


Open TD Ameritrade Account



Open TD Ameritrade Account


Updated on 3/7/2022.


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.