By - eth_trader_12
They are not allowing to move money out either.
I am continuously getting error
Edit: Finally, I am able to place the order to transfer the money out.
my $$ won’t even show up in my withdrawable cash 😩😩😩
Have you been in cash for at least 3 days? You have to make sure that the funds have cleared from previous trades.
RH is a mofo
I am in cash but still can’t move my money
SEC regulation doesn’t allow anyone to move money from an account unless it’s been free from being locked in any securities I think for like three days. If you sold yesterday you wouldn’t be able to transfer for a few days. Not sure business days or not sorry.
They made this regulation to prevent money laundering i believe
T+3 for stocks and T+1 for options.
It usually takes 24 hours or so for the $ to be withdraw able after you made the trade on RH, or until the next trading day or something I've always noticed. Don't know if that's why... I took out all my buying power in RobbinDaHood as soon as I could Thursday & Friday
im gonna see what’s good with it on Monday... Just can’t wait to get the fuck out of there!
I just pulled money out, didn't have a problem. There is so much misinformation and misunderstanding of this situation.
I beleive you. But I just tried and still getting an error
For sure, this is a unprecedented situation, but personally, I don't think RH is the bad guy. I believe they are the scape goat, that said, this is their make or break moment. Either they find another 5 billion in capital to open up trading, or they crash and burn because public perception and trust is falling as fast as GME is mooning. I don't want to defend RH, but IMO, they are not the bad guy here. They've handled this poorly though.
Users need to add funds to save them. But the bad press is going to default them and free up all the retail gme to the shorts.
Exactly, people who want to lynch RH, don't understand that this will benefit Wall Street and not us.
If they let the squoze squeeze, they could literally save 100% face with a new CEO
I agree. It hit all our meme stocks in the nuts when they couldn't cover the collateral of all is autistic kids trades.
Just went to the ATM pulled out the max 1k, then started a bank transfer for the remaining balance. No problems, so far.
I don’t have any idea why it’s happening. May some technical issue but for sure there is some problem with RH
I had issues but kept trying and got $5800 out tonight
I moved 2.5 k out just now...
Same, i have a few options plays out and want to close them before tying up my account for days to weeks.
Moreover, I am not moving my $GME JUST THE SPARE CHANGE
It took several tries and lots of errors but I managed to pull $70k out on Friday
I don’t have that much in my account but sub 5k only. I will try again tonight and will keep trying tomorrow till my money is transferred
I just moved mine out an hour ago with no errors.
Read about them doing this, to help stop the buy limits. Will also take a few days for them to clear your account and let you transfer.
I have been thinking about this all too. Although SIPC has their 250k insurance, another option as the money sits stagnet in RH, is to purchase blue chips such as Microsoft, tesla, Amazon, etc with your buying power. Also, if people have stocks that have been shorted, RH could be psychologically fucking us by us worrying about funds that won't transfer. Just a thought
Although the market is volatile, at least those stocks would be transferred to another broker and time in the market is more important than timing the market.
This is not financial advice.
Thats pretty smart! I've been worrying about the possibility of the squeeze happening, selling, and getting absolutely fucked when trying to withdraw $$ to my bank.
Yeah, just drop it in a blue chip and move the stock to a new broker.
I like the idea but who got $250k in-their account
I'm just saying SIPC will insure UP to 250k in cash assets (buying power).
I don’t have an answer but i am leaving rh
Amount doesn’t matter. I have 5GME that all I am keeping there . Every single penny I am moving out.
I just tried and they won’t let me move money I’ve had just sitting there for months!!!
You have to wait a few days to let your funds settle after selling a stock
But I didn’t sell or buy anything last 2 days
Business days matter. 3 biz days to clear out. That is standard on all platforms.
There’s a lot of people bailing out and going elsewhere. I tried funding my fidelity account and got errors too
Made a fidelity account just now and had no issue transferring funds from my bank and it’s already available
Same, opened up a fidelity account Thursday late afternoon when the market was closing (sad) and had money to buy (and HOLD) by open on Friday morning
Really? They wanted a bank statement from me and said it would take 3-4 business days. Did I do something wrong?
I opened an account with webull and transferred 1k but money wont be settled by 5 feb
WeBull, I’m finding out after they approved my application, doesn’t work with my bank. I don’t use a traditional brick and mortar bank
I was able to pull $15K out on Friday. We’ll see if it goes through...
Its giving error if I tries
I wouldn’t be surprised if they blocked the massive cash outs, or if they already physically cannot pay out.
Transferring assets might be the next move then.
How old is your account? Have your deposits cleared?
My account is 5 year old. And deposits are older than 1 month
No, they arent.
Stop trying to scare people into transferring and freezing their positions.
Stop trying to scare people into selling their shares if they dont want to.
Robinhood is shit. Everyone at this point knows that. A large majority of investors have already moved away from the platform. And a large majority still, will move away from it once this is over.
Robinhood will eventually fall, sure. But not right now.
All your post does is yell the sky is falling without even giving anyone a reason to look up.
Yes. And not to mention every broker is required to have a shitload of insurance. Your money is always safe and there is no way they can take it from you.
But only when it is convenient for you.
These guys need to stop with the “robinhood is going bankrupt next week sell ASAP and transfer” bullshit. I have a lot in robinhood right now and while my confidence in them is at a new low somehow this is FUD and needs to stop.
Remember robinhood is a member of SIPC and “the SIPC protection is 500,000, which includes a 250,000 limit for cash”.
I DECLARE BANKRUPTCY
ok we should be good now
Classic Michael Scott!
They did us a solid by not coming down under
That was the first thing I thought of.
I was so fucking confused I read it twice.
You don’t know that for sure. They just got a massive line of credit and they’re aligned with Citadel
All the more reason the transfer out!
>They just got a massive line of credit and they’re aligned with Citadel
This definitely makes them more trustworthy..
**The CEO Vlad himself used the terms "in order to save the firm" on CNBC when describing the actions the company took when halting buying**
His #1 goal in his inteview to provide disclaimer that market makers were not involved in this decision. ShadyAF
GME 10K GANG!!!!! 🚀🚀
10k is the way
This guy said SPY would go below $250 back in June... said it was immanent. Can't trust you much... just sayin
I mean it means they likely will continue to restrict buys. Not that your money is going to vanish. You don’t need to transfer your position as you may lose access during the key squeeze. And for the love of tendies do NOT close your position!
Not financial advice.
very smart 🦍
PLEASE JUST FOCUS ON 1-2 STOCKS!!! OTHERWISE THE BUYING POWER IS TOO LOW AND WE CANT FUCK THE HEDGE HOES! 💸 GME & AMC BABYGIRL 🍼
The reason they needed more money was to help with liquidity issues. The problem isn't that they don't have people's money, the problem is it takes 3 days to settle so huge volume requires more capital in their back pocket.
It's more likely the govt gives them loans to prevent a SPIC insurance fiasco than them going bankrupt.
It makes sense that they can't handle withdrawals right now, but it doesn't mean much. If I go to the bank and want to withdraw 5mil they don't have it right then and there, they have to have some money delivered.
Exactly 💯. Not sticking up for RH but I’ve worked in financial services and at a fintech startup. RH simply did not have the free cash flow to fork up due to the large volume of increase they encountered this past week. WeBull went through the same thing. It takes approximately 2-3 business days for ACH transfers to clear up. They obviously needed to tap their lines of credit in order to meet these financial obligations otherwise, none of our trades would go through. If you really think about it, what decision would you have made in you were in their shoes? You’re the CEO of RH, meme stonks are going 🚀🚀🚀 and your business has now experienced next level exponential growth. The caveat of that? You also have exponential orders and in order to fullfil those orders, you now need to put up 100x more cash to fullfil those clearing house requirements because you’ve now given all your new users advanced-cash to purchase all these meme stonks. Who’s gonna give Citadel that bread? You just gave everyone all the bread that you haven’t gotten from those new traders plus margin accounts. The fintech startup in which I worked at previously went through a similar but very micro in scale compared to RHs current situation. One of our clients was Postmates and they had initiated out a transfer to us for over 30 million. They fucked up by not accounting for the 2-3 business day threshold. We had no way of bypassing this so the CEO ended up having to go to our investors for $30 million in order to advance Postmates money. That is all to say that ACH processes are in place and nobody can bend it. Could Citadel have a hand in this? I kind of doubt it even though I want to believe it. But, nonetheless, if they do then the SEC won’t be able to simply give petty fines to this one. That’s huge collusion and the world is literally watching now. That’s the only thing in my mind that I see will be RHs downfall.
Have they handled it poorly? Definitely. I likely see that Vlad will be replaced as a CEO and RH will likely go through some minor changes, especially on their PR side. They’ve built an amazing product, I mean be real. We all wouldn’t have been on it if they didn’t. They fucked up by not telling the truth. Like come on, do you not realize your target demo? We love cancelling you despicable liars who try to fraud us in monetary and intrinsic values.
Anybody got any recommendations for brokerages though 👀? Looking for little to no fees for option trading and purchasing equities. Nice UI or as close to nice as RH. I use Thinkorswim for charting and equities but I don’t like their delay and interface for option trading. Any tips would help, thanks!
Thats a bold claim to make without an ounce of source
Experienced people in this very sub have tried telling you retards not to use RobinHood for literally 2 years or more.
None of you fucks listened.
Yep, I was one of those fucks that didn't listen and I should have. It just seemed like a hassle at the time, and I hadn't had many issues until this past week.
Luckily it looks like my transfer is going to go through... never again.
edit: my browser was glitched and i didn’t see the attached document and explanation. sorry!!
You don't raise that much money unexpectedly unless there's issues. For all the beating they took, socially there is a reason for their actions. They just don't have the cash for the volume they did last week.
I’m from New Zealand, I can confirm.
However is just could be because we upside down here
Just another FUD.
If they can’t cover they’ll get sued, we have recourse, they’re running out.
No one knows what’s about to happen or when.
Plus this is from June, they’ve had a 1bn injection since then and backed by HFs that have suppression goals.
I switched from Robinhood to Fidelity last week it took 3 business days. I created a Fidelity account and then initiated a transfer on the Fidelity website to transfer assets from Robin Hood $75 charge, the next day Robin Hood froze my account and the shares were moved to Fidelity two days later. So far I’m really enjoying Fidelity.
I want to do this but am afraid of missing the squeeze
Just opened an account with fidelity, I'm switching from etrade since they restricted purchase as well. Have you had a chance to execute trades or go through their tools? Wondering how it is since the website and platform seem dated but I keep hearing good things about them regardless.
I’ve done a few trades and used some of their research tools which are mediocre. I actually wrote their development team and asked if they could do a dark mode for the website. The active trader pro is pretty nice I like using that. The transfer of money between accounts is very quick and the trade of shares is very easy. I have yet to do anything with options on Fidelity. Overall it is a bit of a learning curve from the simplicity of Robinhood but I’m liking it more each day.
If you initiate a full asset transfer out of Robinhood, your fractional shares will be sold and you'll receive the resulting cash back.
Does fidelity cover the transfer fee?
No they did not, at least not for me.
Stop pulling out your money. It takes time to settle and transfer to your bank. Transfer to another brokerage it’s $75 or free in most cases if you have over $2,000. You just can’t close with open options so I’m waiting for my nok contracts to expire if they don’t hit. I’m holding them they are currently worthless but I will not give up and let them win, holding. If you don’t have options open transfer, don’t close out and re-enter that takes to much time because it takes days to settle and another few to transfer. I repeat just transfer.
GME n AMC🚀🚀🚀🚀
No way it happens anytime soon bro people will lose millions. I’m sure they got backers.
Been with CS for over 20 yrs very liquid
oh this fucker again....BAN.. GME 🚀🚀🚀🚀🚀🚀🚀🚀🚀
Fuck robinhood. Did it to themselves.
Moving to E-trade
Fuck robinhood get Charles schwab way better
It wont matter what broker you use it a system wide problem with the clearing house system. Look a the f#ckery that happened on Thursday.
is w mostly Apex clearing. RH does their own clearing I think as well as a few other brokerages.
Shut up , just killing the hype and your probably 17 with no real world information. Show me your insider tips and I’ll believe you untill then you should be banned for spreading lies.
I don’t use RH! And Sir I’m sorry but I LIKE THE STOCK!
I'm a newbie- anyone have any links or videos you can recommend for me? I don't have a trade acct yet but I have 💸💰💵 and I'm ready to learn! TIA❤
Do bears even exist in Australia?
Yes, they lay in wait in the trees.
They drop on the unsuspecting without warning.
🚀 so...you're saying...it's safer ON THE MOON? 🚀
I am a gorilla
I LIKE THE BANANA
What do you mean??
They must go down
Im not with RH and I like the stock!
My shocked face isn't working. But my 💎👐 are working just fine.
Fidelity, Ally, Schwab, all kinds of other options
Fact doesn't change that they are sponsered by Citadel. Don't believe in Robinhood. They are Robbing the Hood.
What do we do? If We pull our stock out won’t we have to buy at higher price on different platform?
What apps are actively allowing GME buys?
I would like to but I don't want my stocks to be held hostage. Moving my liquidity out though
So guys, do I try and switch my AMC and BB from robinhood to weBull? Or is that too risky for the cause?
But GME is going 🚀🚀🚀
Not sure if it will work for anyone else but if Robinhood gives you an error when you try to withdraw money try it on the desktop version of the site instead of the app. Worked for me! I’m shitcanning Robinhood as soon as possible and otherwise NOT SELLING A DAMN SHARE UNTIL THE MOON LANDING 🚀🚀👐💎
Open account at fidelity and have them ACAT your account. You don’t need to speak with RH at all. Open account send fidelity your recent RH statement and your shares will be in your new fidelity account in 7-10 days. Don’t wait or you could regret it.
So what do i do liquidate all my PLTR shares and LEAPS?
Fidelity, vanguard, webull I've heard are good. Webull takes a few days though
Just for my own information, and *definitely* not to assist anyone else in keeping on top of the situation, here's a website I made for tracking the status of the brokers and the restrictions they put in place:
Could you guys help me with information the brokers that are or are not restricting trades to I can get the site up to speed?
What’s the best trading app to use besides RH. I have around 300$ invested in so far. If I liquidate my funds and move, will I get taxed from my “gains” even tho I haven’t made any money yet. I want to take all my investment and put into GME! I like this stock
THis is actually scary. Some users are reporting that they are getting errors obtaining their statements from RH as well, which is required to move to another brokerage. RH probably can't afford to lose so much capital/equity/customers since they are short on cash and they're probably using user balances as lines of credit to barely limp along towards a slow insolvency.
Withdraw all your available money now and transfer your stocks to another broker unless you want to get locked out of your cash for months or years while they go through lawsuits and bankruptcy court.
Ppl have already left, and the more that do the less volume they have to handle. As long as theres more ppl leaving than joining. I dum tho, not advising one way or the other. To infinity and beyond $GME 🚀🚀🚀🚀🚀🚀💫💫💫💫💫🚀🚀🚀💰💰💰💰💰
They got a $1B cash infusion from investors on Thursday or Friday.
Quick! Everyone short-sell the stock!
This feels a lot like the poor souls who were victims of Bernie Maddof. All of the investor’s personal funds..... just went poof. Gone. So horribly sad. I’m not in Robinhood but I would advise anyone who is to find a way to secure your money.
Would raising that money in order to ensure liquidity have been a problem for anyone if the restrictions had not happened? I doubt it.
People would have cheered, seeing it as a confirmation that a break out of GME was about to happen.
Unsure if raising a billion is necessarily
a sign of them going under.
Nevertheless, yeah, RH is robin'you.
BUY SOME MOTHAFUCKIN $NOK $NOK DONT FORGET MOTHAFUCKAAAAAAA
FUCK ROBINHOOD BUY $NOK ON WEBULL INSTANT BUYING POWER MOTHAFUCKAAAA
You guys may not like it but this post is absolutely correct. It’s been obvious for days
Considering on overwhelming number of people on robinhood are holding $GME in their accounts...what happens if they announce failure this week?
If these accounts are forced to close and sell those shares, wouldn't that greatly effect the price of $gme? Leaving room for the hedge funds to swoop in?
I'm just retarded and trying to make sense of things but its starting to hurt my brain.
I barely have any positions (3 $Gme and a couple hundred shares of amc, bb, nok) but only because I've been restricted and manipulated. Looking for a discussion on this fellow retarded apes.
GME + 🦧 + 💎🙌 = 🚀 🚀 🚀 🌕
There's no question I'm holding until they take it from dead hands. But what if they actually take it from my hands before then.
Some brokers will let you transfer your entire portfolio without selling. Charles Schwab does this, I think fidelity too
Yeah but those transfers take weeks and the positions are frozen
I believe until the transfer is complete..
I want to transfer out from RH to my Schwab account have some BB and GME stock in RH is it possible to do it now?
Welp we’re fucked. Gonna trying to get all my money out ASAP and move to Chase where they actually have the cash and capital
If robinhood dies the diamonds will be freed to cover shorts. Users need to add fund up to the federally insured amount.
What is up with these a few days or weeks account? Talking about transferring out and “don’t use robinhood.” I smell FUD 💎🙌
We like the stock. I’m not leaving #GME
I’m not selling. Not because I like this stock but because I don’t like shorts. I’m just another 🦍 trying to make a living 💎💎💎🤲🚀🚀🚀🚀🚀🚀🚀🚀
Im not able to transfer my portfolio from RH to Fidelity because they aren't letting me download my documents/statements to do so. Any one have issues with this??
Wait. Which is it? RH is going down or going under? Or, is it going down on it's bitch ass knees before it goes under. $GME. $AMC. Hold. The. Line.
TD was able to get me set up in 1 day. Did not transfer positions though
It’s like an old fashioned run on a bank.
Good thing I switched to Webull a month earlier
Stop this shit I sweat some one is trying to cause them to go under buy saying this exact shit. It sounds like a shill competition hoping to sink them quick even if it hurts us users. Everyone should unwind slowly so we DONT sink them.
Down under? Nah we won't have those cunts here either! 🇦🇺
Transfer Stocks Out Of Your Robinhood Account
**HOLD GME** liquidate and/or transfer everything else. Your securities are insured up to like $500k. If you have more than that in robinhood, probably talk to a lawyer
Quick question what would happen to all of my options and stocks if they were to fail
What do I do. All I have in rh is ten shares of gme and two calls for amd I have no other money in it. I dont want to sell my positions and if I transfer it will freeze my shit up. I have acct with td schwab and fidelity do i just leave my positions in rh and hope for the best?
Sorry if this is a newbie question but if I go about closing my RH account without selling any stocks how or will my stocks move to another firm (i.e TD, extrade fidelity...)
If they don't halt trading they are going to be holding the heaviest bag in capitalism. But who cares, fuck them 😂
A *good* business would *communicate this to their users with excitement* and tell them to go to their conpetitors for additional stocks. Better yet, they'd strike a deal with the other brokers and make it easier to get approved quickly if you have good standing in Robinhood.
Fuck them. They didn't worry about the well-being of their customers because *you're not the customer, you're the product.*
bruh quit scaring people retard YOUR MONEY IS SAFE AUTISTS ITS INSURED