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Started By
Message
Transfer from RH To E*Trade - 2 questions
Posted on 1/29/21 at 8:02 am
Posted on 1/29/21 at 8:02 am
With the mass exodus of Robinhood expected, I can't be the only one making a move. I asked a few questions in another thread last night but want to start a new thread for myself and others in this process.
I've opened an account with E*Trade last night. I want to transfer all my shares in about 20 companies from Robinhood to E^Trade. I've created the account and added my Checking account from my local bank.
I don't see where to transfer the actual shares from Robinhood over. I don't see it where to do it from either the Robinhood side or the E*Trade side. I want to avoid selling and rebuying and the tax implications.
1) One thing that is concerning to me is that it says all new account holders can only add one account in the first 60 days, of which I've already added my credit union checking. Am I out of luck? Anyone know about this?
2) Do you think there is any real risk of Robinhood becoming insolvent? There are millions that are as pissed I am and plan to move. Should I be worried if I do have to wait 60 days? I know that RH accessed their credit lines yesterday so that can't be a good sign, but I don't know much more about how their financial structure is set up or what is at risk of occurring here.
Thanks Money Talk! You all have taught me so much as I've invested my handful of dimes which is almost up to a handful of quarters.
Sorry if those are stupid questions but I've asked dumber ones on here. TIA.
I've opened an account with E*Trade last night. I want to transfer all my shares in about 20 companies from Robinhood to E^Trade. I've created the account and added my Checking account from my local bank.
I don't see where to transfer the actual shares from Robinhood over. I don't see it where to do it from either the Robinhood side or the E*Trade side. I want to avoid selling and rebuying and the tax implications.
1) One thing that is concerning to me is that it says all new account holders can only add one account in the first 60 days, of which I've already added my credit union checking. Am I out of luck? Anyone know about this?
2) Do you think there is any real risk of Robinhood becoming insolvent? There are millions that are as pissed I am and plan to move. Should I be worried if I do have to wait 60 days? I know that RH accessed their credit lines yesterday so that can't be a good sign, but I don't know much more about how their financial structure is set up or what is at risk of occurring here.
Thanks Money Talk! You all have taught me so much as I've invested my handful of dimes which is almost up to a handful of quarters.
Sorry if those are stupid questions but I've asked dumber ones on here. TIA.
This post was edited on 1/29/21 at 8:04 am
3
Posted on 1/29/21 at 8:05 am to supadave3
Switch to Fidelity instead. That’s what I’m doing
Posted on 1/29/21 at 8:08 am to Upperdecker
Did Fidelity block any trades? I've had Fidelity for probably 15+ years and also an Etrade account but I didn't try to participate in the madness yesterday.
Posted on 1/29/21 at 8:10 am to fallguy_1978
To my knowledge fidelity did not block trades. Bought some NOK yesterday without issue
Posted on 1/29/21 at 8:13 am to supadave3
Try the Etrade chat line. Takes a while to get on these days, but they will answer your questions.
Posted on 1/29/21 at 8:37 am to fallguy_1978
quote:
Did Fidelity block any trades? I've had Fidelity for probably 15+ years and also an Etrade account but I didn't try to participate in the madness yesterday.
I didn't participate in much yesterday, I already had BB and NOK so my participation was mostly in that I expected it to go through the roof yesterday and it didn't. I've heard that E*trade at least allowed trades longer and to me, they seem to be a stronger company in general. After reading more about Robinhood, I just don't want it as my long term investment account. This all started over a deposit of half my first stimulus and grown from there. SInce I've now deposited a significant amount of my own funds, it's not really the fun and games account it started out as.
Any real reason why you prefer Fidelity over E*Trade?
Posted on 1/29/21 at 8:42 am to Upperdecker
quote:
Switch to Fidelity instead. That’s what I’m doing
I look into it today. I kinda started the E*trade account in haste yesterday but now want to settle down and make a good decision. I was just aggravated yesterday and seeing BB bleed all day was very frustrating because I didn't purchase it thinking it was going to be part of the fiasco.
Now Nokia, I purchased to participate in the fiasco so I can't really be too upset but am still a little pissy over it.
Posted on 1/29/21 at 8:44 am to supadave3
quote:
Any real reason why you prefer Fidelity over E*Trade?
Under normal circumstances not really. I ended up with ETrade due to some of my previous brokers being taken over by them. My main account used to be with a company called Sharebuilder but it got sold to Etrade.
I've used most of the other platforms as well other than Robinhood. Yesterday's events kind of pissed me off though and I'd consider shying away from the platforms that blocked trading in the future.
Posted on 1/29/21 at 9:07 am to fallguy_1978
Etrade blocked the buys of AMC and GME.
I am leaving Etrade after being with them for 10 years.
Fidelity did no restrictions.
I am leaving Etrade after being with them for 10 years.
Fidelity did no restrictions.
Posted on 1/29/21 at 9:10 am to supadave3
1. This is true, no way around this. Its for fraud/money laundering purposes. Cannot be done.
2. No comment
To transfer to etrade
Login
Accounts -> Transfers -> Transfer Account . Will take around business days roughly. RH may charge an ACAT Fee.
2. No comment
To transfer to etrade
Login
Accounts -> Transfers -> Transfer Account . Will take around business days roughly. RH may charge an ACAT Fee.
Posted on 1/29/21 at 9:11 am to tenderfoot tigah
quote:they didn't block me
Etrade blocked the buys of AMC and GME.
Posted on 1/30/21 at 8:03 am to WarCamEagle
quote:
o transfer to etrade
Login
Accounts -> Transfers -> Transfer Account . Will take around business days roughly. RH may charge an ACAT Fee.
I’m willing to pay the ACAT fee but I don’t see so an option to transfer.
Posted on 1/30/21 at 8:07 am to supadave3
quote:
I’m willing to pay the ACAT fee but I don’t see so an option to transfer
You on app or desktop? Lots more options on desktop
Posted on 1/30/21 at 8:19 am to Dawgfanman
quote:
You on app or desktop? Lots more options on desktop
That’s useful to know. I’m currently on app but will log onto desktop now. Thank you.
Posted on 1/30/21 at 8:22 am to supadave3
quote:
That’s useful to know. I’m currently on app but will log onto desktop now. Thank you
No problem. Another example is after hours trades (not in basic E*TRADE app but on desktop).
Posted on 1/30/21 at 8:42 am to Dawgfanman
I used Webull and haven’t seen any trade blocks. They suspended GME on Wednesday at about noon for 15 minutes. Other than that, nothing.
Posted on 1/30/21 at 8:44 am to S1C EM
I opened a Schwab account. Transferred my Robinhood to over there. Only thing I did was put in the account number from Robinhood. Thought it was kind of weird it didn’t ask for any other verification of my account on Robinhood
Posted on 1/30/21 at 8:47 am to CE Tiger
quote:
I opened a Schwab account. Transferred my Robinhood to over there. Only thing I did was put in the account number from Robinhood. Thought it was kind of weird it didn’t ask for any other verification of my account on Robinhood
One, that is weird. And concerning. Two, I believe Schwab owns TDA and they restricted purchases and sales in the last couple of days. Probably wouldn’t be my choice for a switch. I also would NOT tie anything up in a transfer right now unless you’re certain RH will screw you Monday or Tuesday. If anything pops or drops early next week, you’re gonna get stuck, for better or worse.
Posted on 1/30/21 at 8:49 am to S1C EM
My only hold in there was AG and I’m holding till March
Posted on 1/30/21 at 8:52 am to CE Tiger
Gotcha. I realized after I replied who I was talking to and you’re a lot smarter than me when it comes to this stuff, so I’m sure you already considered all of that. 
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