I have been trying to transfer from Fidelity to Robinhood since last Wednesday now.
I enabled margin early last week and then on Wednesday initiated a 10.5k withdrawal from Fidelity. I was able to withdraw and the recipient bank has recvd range funds. I am seeing margin interest being charged on the account.
However, on my Fidelity account, it still says the margin transaction as pending. When I try to initiate the (partial) ACAT transfer from Robinhood, it doesn’t show margin as being transferred. I don’t know if it’s because of the fact that since margin transaction is pending or when doing partial account transfer margin doesn’t transfer.
Anyone has faced similar challenges? Probably next step will be to move my mutual funds out of the Fidelity account and then do the full account transfer.
I enabled margin early last week and then on Wednesday initiated a 10.5k withdrawal from Fidelity. I was able to withdraw and the recipient bank has recvd range funds. I am seeing margin interest being charged on the account.
However, on my Fidelity account, it still says the margin transaction as pending. When I try to initiate the (partial) ACAT transfer from Robinhood, it doesn’t show margin as being transferred. I don’t know if it’s because of the fact that since margin transaction is pending or when doing partial account transfer margin doesn’t transfer.
Anyone has faced similar challenges? Probably next step will be to move my mutual funds out of the Fidelity account and then do the full account transfer.
Statistics: Posted by amiablealien — Tue Oct 22, 2024 11:53 pm