How To Transfer From Firstrade To Fidelity 2024

Firstrade and Fidelity are two popular brokerage platforms available to today's investors.

Here's how to transfer your assets from Firstrade to Fidelity, step by step.

Check out my video on how to transfer your brokerage account below, let's dive in!

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Here's what you need to know:

• Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
• All Robinhood investors will get a 1% Match on what they Contribute or Transfer
• Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

Transfer Of Assets

A Transfer of Assets is the movement of all or part of an account from one financial institution to another without the need to sell your existing holdings.

Fidelity allows you to transfer various security types, including stocks, bonds, mutual funds, and more.

This process extends to investment accounts, retirement accounts (e.g., IRAs, HSAs), workplace accounts like 401(k) or 403(b), and even cash from checking or savings accounts.

Typically, the Transfer of Assets process takes 3–5 business days, depending on your current firm's rules and the type of accounts and investments being transferred.

Transfer Fees

Be aware that Apex Clearing (Firstrade's Clearing House) will charge a $55 Partial Transfer fee and $75 Full ACAT Transfer fee.

Fidelity doesn't charge anything on the receiving side.

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1. Find Your Firstrade Account Number

Begin by downloading a digital statement from your current financial firm. This document will contain crucial account information, and you may need to upload a copy during the transfer process.

Before you initiate the transfer process, you'll need to locate your Firstrade account number.

2. Initiate the Transfer Process

Now that you have your Firstrade account number, it's time to begin the transfer process to Fidelity.

Follow these steps:

1. Log in to your Fidelity account. This assumes you have a Fidelity Brokerage Account
2. Navigate to the "Customer Service" section, often located in the account menu
3. Select "Transfers" from the available options
4. Click on "Transfer an Account to Fidelity"

3. Complete the Transfer Form

You're now ready to fill out the transfer form.

Here's how to proceed:

1. Click "Start a Transfer"
2. Choose "Firstrade" as the firm you're transferring from
3. Enter your Firstrade account number and specify the account type as "Brokerage Individual or IRA"
4. Click "Next" and follow the prompts presented in the wizard
5. The questions asked will be straightforward and designed to facilitate the transfer process

What You Can Transfer

You can transfer:

• All or part of an investment account, including specific investments in kind
• Retirement or health savings accounts, such as IRAs and HSAs
• Liquidated annuities, CDs, or holdings from an investment account