You can switch to Robinhood from a different US online trading platform with relative ease. While at it, you might claim a Robinhood transfer bonus if you meet the requirements. We’ll explain how the promos work in this guide.
Robinhood supports asset transfer via its Automated Customer Account Transfer Service (ACATS). Also, there’s the specialized Individual Retirement Account (IRA) option for retirement savings. For ACATS transfers, the platform reimburses the fee charged by your previous service up to a particular cap. Meanwhile, eligible IRA transfers get a match bonus. Continue reading as we go into specifics.
Based on our research, the Robinhood transfer bonus comes in three types. Check them out below:
The first here is a simple offer. If you transfer your assets from a different trading site to Robinhood, the platform will reimburse the paid fee up to $75. To be eligible, the total assets must be worth at least $7,500. Robinhood still takes the account type and brokerage firm into consideration.
As we confirmed during our review, this fee bonus applies to both full and partial transfers. It works through the ACATS system, and you can move stocks and cash, among other assets. Here are the supported and unsupported account types to know:
| Supported accounts | Individual or joint investing accounts, traditional IRAs, Roth IRAs |
| Unsupported accounts | Trust, business, custodial accounts |
If you successfully transfer and get the reimbursement, you can access Robinhood event contracts and other services.
From the description, you’ll know this promo is exclusive to Individual Retirement Accounts (IRAs). If you have one with Robinhood, you can get a 1% match on the total assets value. The offer also applies to old 401(k) accounts.
What we consider most interesting about this Robinhood IRA transfer bonus is that there’s no cap. If you transfer assets totaling $10,000, you’ll receive a $100 bonus. Even if your assets are worth $500,000, the online trading platform will give you a $5,000 reward.
Besides the Robinhood 1% transfer bonus, the platform has other standard IRA promos. You’ll receive a separate 1% bonus for your annual contributions with a self-directed Robinhood IRA. Meanwhile, if you’re a Robinhood Gold subscriber, the reward is 3%.
However, Robinhood works with the IRA contribution limits set by the US Internal Revenue Service (IRS) for these other bonuses. So, there’s a cap on your potential reward. Here’s the rundown:
| IRS contribution limit | Maximum bonus amount |
|---|---|
| $7,000 if you’re not up to 50 years old | $70 for self-directed accounts $210 for Robinhood Gold accounts |
| $8,000 if you’re over 50 years old | $80 for self-directed accounts $240 for Robinhood Gold accounts |
Robinhood occasionally offers time-limited ACATS match transfer bonuses. For instance, we once came across a Robinhood 2% transfer bonus that lasted for 15 days. With such an offer, moving assets worth $10,000 will get you a $200 reward.
From our findings, such ACATS match transfer bonuses are often limited to Robinhood Gold account holders. Therefore, if you’re interested in claiming them, you’ll have to consider subscribing to the premium product. Being a Gold member has other benefits like discounted Robinhood fees, bigger instant deposits, and lower trading commissions.
Some people transfer to Robinhood to trade stocks, index options, or exchange-traded funds. There’s also high interest in prediction markets, with many traders searching for Robinhood sports prediction markets in particular.
With sports prediction markets, you buy or sell Yes/No event contracts. You’re not staking on fixed odds like at regular sportsbooks, and the contract prices are based on market activity. Each contract costs between $0.01 and $0.99, and pays out $1 if correct and $0 if wrong.
Regardless of your reason for moving to Robinhood, here are the steps to transfer and get your bonus:
Tap the links on this page to visit Robinhood and sign up
Launch the ACATS process via the external brokerage
Provide details of the trading platform and account you’re transferring from
Select whether you want a full or partial transfer
Choose the specific assets you want to move if partial
Submit the request
Now, wait for Robinhood to work with your previous platform and move the assets over.
In our experience, ACATS transfers on Robinhood can take between 5 and 7 business days. It depends on the previous site and the asset size. The good thing is that you can track the processing under History via your account dashboard.
Once everything is settled, Robinhood will send you a notification. Also, you’ll receive the Robinhood transfer bonus if eligible. At this point, you’re ready to engage with the platform’s offerings, depending on your trading interests.
Perhaps you’re interested in the Robinhood election prediction markets. In that case, apply for a Derivatives account and visit the Prediction Markets hub. From the hub, you can buy and sell event contracts that fit your predictions.
You won’t get the Robinhood bonus if your transfer is unsuccessful. From our tests, here’s how to ensure that doesn’t happen:
Double-check that you entered your account number correctly before submitting the transfer
Make sure the assets you want to transfer are supported on Robinhood
Confirm you meet margin requirements if you plan to move margin balances
Enable margin investing ahead of time if you want to transfer margin positions
Get options trading approval before moving any options contracts
Don’t transfer options or margin positions into a managed account, as it’s unsupported
If you stick to the above and meet the minimum asset amount requirement, you’ll get your transfer bonus. Otherwise, reach out to the Robinhood customer support team to resolve the issue.
Here are the pros and cons to know about the transfer bonus at Robinhood:
Robinhood makes things convenient for new traders moving from other platforms with its transfer bonus. You can get back the fee you paid up to $75 if your assets are worth $7,500 or above. Plus, if it’s an IRA, you score a 1% match bonus without any cap.
If you plan on switching to Robinhood, also watch out for any time-limited transfer bonus that may be available. You’ll get the best rewards if you’re a Gold subscriber. To get started with transferring your assets, tap the banners on this page to visit Robinhood.
The 3% transfer bonus on Robinhood is an offer for moving assets into the trading platform with a Gold subscription. However, it’s time-limited and not fixed, as Robinhood puts out such offers occasionally.
The 1% ACATS transfer is a match bonus for transferring assets into Robinhood. However, it’s not a standard offer on the trading platform. Robinhood can feature it occasionally and for a limited period.
You can claim a transfer bonus from Robinhood by meeting the minimum asset size and account requirements. These can vary from offer to offer, so it’s essential to check the terms and conditions.
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