If you were frustrated by the recent Robinhood outage that lasted multiple hours, you might be considering how you can move your stock off of the brokerage to another. Good news for you: You can do that if you want! Bad news: Robinhood charges a fee.

How to transfer stock out of Robinhood

Find a new brokerage
You’ll need a new brokerage if you want to move your Robinhood stock to a new brokerage!
Initiate a transfer
You need to initiate a new transfer at the new brokerage, not through Robinhood.
Get started with your new brokerage
You’re done! Just get started trading with your new brokerage!

1. Find a new brokerage

The first thing you need to do if you’re planning to move your stock out of Robinhood is find a new brokerage. You have nearly infinite options when it comes to this — many traditional banks would gladly take your business, as would some of Robinhood’s competitors. Cash App and Public.com are a couple of the millennial-friendly brokerage apps that you might want to move to if you’re looking for something user-friendly.

Every brokerage is going to have different policies, but most would love your business. You will need to open a new account, and may need to find contact information for the brokerage to tell them you want to move your investment portfolio.

Some brokerages you might want to consider if you want to transfer your portfolio out of Robinhood:

2. Initiate a transfer

Robinhood allows you move all or part of your investment portfolio out of the service to another brokerage. The easiest way to get started is to contact the new brokerage (the one that you want to use instead of Robinhood) and ask them to initiate an ACATS transfer.

You can transfer your stocks out of your Robinhood account into another brokerage. To begin the process, you’ll need to contact your other brokerage and have them initiate the transfer. They’ll submit the transfer instructions to our clearing partner to transfer over your assets and funds.

The new brokerage that you’ve chosen to move to will then initiate a transfer from Robinhood, and your portfolio should soon become available in the new brokerage you’ve chosen. A couple important points to know here: Robinhood will close your account if you transfer your entire portfolio, and they’re charging you $75 for the transfer regardless.

Robinhood notes that you should initiate only an ACATS (Automated Customer Account Transfer Service) transfer, not any other kind of transfer. To initiate this transfer, you’re going to need your Robinhood account number. Here’s how to do that.

How to find your Robinhood account number

Tap the Account icon in the bottom right corner.
Tap Investing.
Your account number will be at the top of your screen.

What is Robinhood’s DTC number?

Robinhood used to have just one DTC number, and it was pretty straightforward if the new brokerage you were moving to needed it. Now, though, Robinhood has had a couple different clearing offerings. Clearing by Robinhood has DTC number 6769, but Apex Clearing (the Robinhood clearing partner) has DTC number: 0158.

How can you tell the difference? You’ll have to load up your latest Robinhood statement deep in the bowels of your account to find out.

What about my Robinhood crypto?

Bad news if you have cryptocurrency in your Robinhood account: the brokerage doesn’t allow you to transfer cryptocurrency in or out of the exchange. So if you’re planning to leave Robinhood entirely, you’re going to have to liquidate your crypto assets first.

3. Get started with your new brokerage

After you’ve moved your stock out of Robinhood to another brokerage, just get started learning the ins and outs of the new brokerage and trade to your heart’s content.

That’s just about all you need to know when it comes to transferring your stock out of Robinhood. If you run into any problems, you’re most likely going to have to reach out to the customer support for the new brokerage you’re moving to. Robinhood has very little control over transfers out of Robinhood, so keep that in mind.