Can You Transfer Stocks Between Brokers

Can You Transfer Stocks Between Brokers

Can you transfer stocks between brokers? Yes — in most cases you can transfer stocks between brokers without selling them, and transfers are normally done electronically (for U.S. market participants this most commonly uses ACATS) but there are rules, limits, exceptions and varying timelines. This article explains the methods, practical steps, eligibility rules, timing, fees, special cases like fractional shares, cross-border issues, troubleshooting steps, and best practices. It is written for beginners and intermediate investors who want a clear, actionable overview.

As of 2026-01-21, according to Investopedia and broker help pages, broker-to-broker transfers typically take a few business days to about a week under standard conditions; exceptions apply when account information mismatches, assets are non-transferable, or cross-border custodians are involved.

Note: this article explains the process and options — it is not investment advice. For firm-specific rules and fees consult your brokers’ transfer pages or customer service. Bitget users can review Bitget’s custody and wallet options and consider Bitget Wallet for secure custody when relevant.

Overview

A broker-to-broker stock transfer moves positions (or cash) from one brokerage account to another. Investors transfer for many reasons: lower fees, better trading tools, improved customer service, margin/power-of-leverage features, access to different order types, or simply to consolidate multiple accounts into one platform.

There are two high-level options when moving holdings between brokers:

• In-kind transfers: you move the actual securities (stocks, ETFs, many bonds) into the new account without selling. This preserves your positions and usually keeps tax lots intact.
• Cash (sell) transfers: you sell positions at the delivering broker, transfer cash to the receiving broker, and then re-buy (or leave in cash). This can trigger taxable events and changes cost basis.

Understanding the difference helps you choose the right path for taxes, timing, and operational ease. Can you transfer stocks between brokers? Yes—but which method you use depends on asset type, account matching, and broker policies.

Common Transfer Mechanisms

Brokers and transfer agents use several principal methods to move equities and other assets between custodians. Each method has typical use cases and limitations.

ACATS (Automated Customer Account Transfer Service)

ACATS is the main electronic transfer system used by many U.S. broker-dealers and banks. Operated by the national clearinghouse infrastructure (the NSCC within the broader clearing ecosystem and linked with the Depository Trust Company operations), ACATS automates the transfer of customer accounts between member firms.

Key points about ACATS:

• Who runs it: the service is part of the NSCC/DTC clearing ecosystem that supports U.S. securities transfers.
• Asset types commonly moved: listed stocks, ETFs, many bonds, and often options and mutual funds when permitted by both firms.
• Typical flow: the receiving broker initiates a transfer request (a Transfer Initiation), the delivering broker validates holdings and account information, then the assets are transferred electronically and posted to the receiving account.
• Timeframes: commonly a few business days to about a week for standard transfers; complex or exception cases can take longer.
• Membership requirements: ACATS works between NSCC member firms. If one broker is not a member, ACATS is not available and other manual or agent-based methods are used.

ACATS is the most common route when you ask, "can you transfer stocks between brokers" for U.S.-domiciled accounts.

DRS / Transfer Agent Transfers

DRS (Direct Registration System) involves transfer agents — companies like Computershare or EQ Shareowner — that maintain records of shareholders on the issuer’s books.

How DRS transfers work:

• Shares registered directly in your name at the transfer agent can be moved into a brokerage account by instructing the transfer agent (or using the receiving broker’s DRS intake process).
• DRS is used when shares are issued or when investors prefer certificate-free direct registration.
• This route is common for moving shares that are not held in street name or for certain corporate actions.

DRS transfers bypass ACATS in some cases and are useful when the issuing company’s transfer agent holds the registration.

Intra-firm (Journal) Transfers

Intra-firm transfers — also called journals — move assets between accounts within the same brokerage (for example, from one individual taxable account to another account at the same firm).

• Speed: usually faster (often same day or 1–2 business days).
• Simplicity: fewer validation steps because the custodian already holds the assets.
• Use case: moving positions between your accounts at a single broker, or moving an account from a retail platform to an institutional account within the same firm.

Who Initiates and Typical Process Steps

Typical broker-to-broker transfer steps, simplified:

1. Open a matching account at the receiving broker (same account type: individual, joint, IRA, etc.).
2. Gather account details from the delivering broker (account number, broker name, sometimes a recent statement).
3. At the receiving broker, complete a transfer initiation form (online or paper) and specify whether you want an in-kind or cash transfer and whether the transfer is full or partial.
4. Receiving broker submits the transfer through ACATS (or other system) to the delivering broker.
5. Delivering broker validates account name, tax ID (SSN/TIN), and holdings; they may object within a short window if information mismatches or if assets are restricted.
6. If validated, assets are electronically moved and posted to the receiving account; receiving broker notifies you when complete.

Documentation and checks commonly include matching full legal name, SSN/TIN, account number, and account type. Some brokers require a recent statement to verify holdings and cost basis.

Eligibility and Account Matching

Eligibility rules are strict to prevent fraud and ensure proper registration. Common requirements:

• Account type must match: individual-to-individual, IRA-to-IRA, trust-to-trust (with matching trustee details), estate accounts require specific handling.
• Name and tax ID (SSN/TIN) must match exactly. Small formatting differences (like “Robert” vs “Bob” or missing middle initials) can trigger rejections or requests for additional documentation.
• For joint accounts, ownership structure must match (e.g., joint tenants with rights of survivorship vs tenants in common).

If accounts don’t match, brokers typically reject the transfer or convert it to a cash transfer (sell assets then move cash). You may also need to close an account and request a check for proceeds.

Which Assets Can and Cannot Be Transferred

Commonly transferable assets

• Most exchange-listed stocks (U.S. and many international listings) held in street name.
• Exchange-traded funds (ETFs).
• Many fixed-income securities (corporate, municipal bonds) and government securities.
• Most options positions (subject to the receiving firm’s options approval).
• Cash and settled proceeds.

Commonly non-transferable or problematic items

• Certain mutual funds (especially proprietary funds unique to the delivering broker) that are not accepted at the receiving firm.
• Some annuities and insurance-linked products.
• Proprietary or in-house funds, platform-only securities, or limited partnerships with transfer restrictions.
• Fractional shares (many brokers do not accept fractional shares via ACATS).
• Collectible securities or illiquid private placements.

Broker policies vary, so always confirm with both firms which holdings can be moved in-kind.

Fractional Shares and Special Cases

Fractional shares are increasingly common with retail brokerages and apps. However, many firms do not support transferring fractional shares through electronic clearing systems.

Typical outcomes for fractional shares during a transfer:

• The delivering broker may sell fractional shares before the transfer and move cash (or round up to a whole share if the delivering broker supports the conversion).
• The receiving broker may not accept fractional lots via ACATS; receiving brokers often request liquidation of fractional holdings.
• Workarounds: consolidate fractional shares into whole shares, request a cash transfer for fractional portions, or use broker-specific migration tools if offered.

If you rely on fractional-share holdings for dividend reinvestment or small-dollar exposure, check both brokers’ fractional policies before initiating a transfer.

Cost Basis, Lot History and Tax Reporting

When you ask, “can you transfer stocks between brokers” you should consider how cost-basis and lot history are handled during a transfer.

• Cost basis and lot-level history are typically transferred electronically along with positions, but transfers are only as accurate as the data each custodian maintains.
• Some gaps in historical lot data occur, especially for long-held or consolidated accounts; receiving brokers may import partial basis information and reconstruct missing lots.
• After transfer, verify cost basis in your new account. Request detailed transfer reports and retain copies of prior statements.
• Selling positions before a transfer crystallizes taxable events. In-kind transfers preserve your tax lot positions and do not trigger gains or losses.

Always reconcile cost basis after transfer to ensure correct tax reporting and consult a tax professional if needed.

Fees and Reimbursements

Typical fee types:

• Outgoing ACATS fee (delivering broker often charges an outgoing transfer fee per account).
• Account closure fee (some brokers charge to close a dormant or transferred account).
• Paper statement or processing fees in certain cases.

Many receiving brokers offer transfer promotions that reimburse ACATS/outgoing transfer fees (usually conditional on completing a full account transfer). If you're moving to Bitget for equities support or custody services, check whether Bitget or its custody partners offer transfer reimbursements or promotions — many modern brokers use such incentives to attract new customers.

Always check both brokers’ published fee schedules and ask customer service about reimbursement timelines and conditions.

Timing and Common Delays

Standard timeline: many domestic ACATS transfers complete within 3–7 business days. However, actual timing depends on multiple factors.

Causes of delays:

• Unsettled trades: positions with unsettled transactions may prevent in-kind movement until settlement occurs.
• Open margin or short positions: delivering brokers may require you to close margin or short positions before releasing assets.
• Account mismatches: name or tax ID discrepancies can cause rejections or manual reviews.
• Non-transferable assets: presence of mutual funds, annuities, or proprietary securities can require partial transfers or cash conversions and slow the process.
• Transfer errors or disputes: discrepancies in quantities, broken lot information, or corporate actions may trigger extended resolution time.

In exception cases transfers can take several weeks. Maintain regular communication with both brokers and keep statements and proof-of-holdings to expedite resolution.

Partial Transfers, Transfer of Specific Positions, and Full-Account Transfers

Options when initiating a transfer:

• Full-account transfer: moves all eligible assets and closes the delivering account. Often used when consolidating accounts.
• Partial transfer: move selected positions while leaving others behind.
• Specific-lot transfer: in some cases you can specify which tax lots to move, but lot-level control is subject to the delivering broker’s capabilities and the receiving broker’s instructions.

Limitations:

• Some brokers mandate whole-account transfers when transferring certain retirement accounts or when promotions require it.
• Partial transfers may be constrained by asset type (e.g., mutual funds held only on platform A may require sale or DRS handling).

If you plan to move specific lots for tax-loss harvesting or long-term holding strategies, communicate lot preferences to both brokers and confirm lot-level transfer support.

International and Cross‑Border Considerations

Cross-border transfers introduce complexity. ACATS is a U.S. system and applies to NSCC/DTC members in the U.S. For international brokers and custodians:

• Some foreign custodians accept U.S.-listed securities, but movement may require manual processes or foreign custodial chains, and may involve fees and currency conversions.
• ADRs (American Depositary Receipts) can typically move between U.S. brokers, but moving underlying foreign shares between non-U.S. custodians may be manual.
• Regulatory or tax reporting differences exist across jurisdictions; you may need additional documentation or to liquidate positions before a cross-border transfer.

If you maintain accounts in different countries, check receiving and delivering custodian policies and expect longer timelines and possibly cash conversions.

Broker-Specific Procedures and Examples

Each broker has its own UI, forms, and intake process. Examples of differences include:

• Online transfer tools: many brokers provide an online transfer request form where you can upload a recent statement and choose full or partial transfer.
• Paper forms: some firms still require signed paper transfer forms for certain account types.
• Transfer agent instructions: for DRS transfers, you may interact directly with a transfer agent like Computershare to move directly into a brokerage.

When moving to a new broker, follow their step-by-step transfer guide. If you’re considering Bitget (as your preferred exchange and custody provider), check Bitget’s transfer instructions and Bitget Wallet options for secure custody and streamlined onboarding.

Troubleshooting and Disputes

If your transfer is delayed or incomplete, follow these steps:

1. Contact the receiving broker to confirm initiation and any outstanding items they need from you.
2. Contact the delivering broker to confirm receipt of the transfer request and to ask about objections or holds.
3. Keep statements, confirmation numbers, and written communications to document the transfer timeline.
4. If the brokers disagree or fail to resolve the issue, escalate to broker operations or file a formal dispute through the delivering or receiving broker’s complaint channel.
5. If unresolved, consider filing a complaint with the industry regulator (for U.S. brokers, FINRA or SEC resources may apply) or use an ombudsman service.

Record all interactions, and request escalation if you do not receive timely updates.

Security, Privacy and Fraud Considerations

Protect your accounts during transfers:

• Only provide account information through verified broker channels. Do not share login credentials or two-factor authentication codes with anyone.
• Verify phone numbers and email addresses from official broker documentation.
• Watch for phishing attempts: fraudulent emails claiming transfer problems are common during busy transfer windows.
• Use secure networks (not public Wi-Fi) when submitting transfer forms or sensitive documents.

If you suspect fraud, pause the transfer and contact both brokers immediately to place holds and investigate.

Best Practices and Pre‑Transfer Checklist

Before initiating a transfer, use this checklist:

• Confirm account types and ownership match (individual, joint, IRA, trust).
• Order or download a recent statement from the delivering broker showing holdings and cost basis.
• Settle any open trades and resolve margin or short positions.
• Confirm which assets are transferable in-kind and identify any proprietary or restricted securities.
• Check both brokers’ policies on fractional shares and plan for fractional handling.
• Review fee schedules and ask if the receiving broker offers transfer fee reimbursement.
• If moving retirement assets, confirm custody and rollover rules and required forms.
• Time the transfer to avoid settling issues around dividend ex-dates or taxable events if you prefer to preserve dividends in a specific account.

Following this checklist reduces surprises and shortens resolution time.

Alternatives to Broker-to-Broker Transfers

If an in-kind transfer is impractical, alternatives include:

• Sell positions and transfer cash: simple but may create taxable events and market-timing risks.
• Transfer via transfer agent (DRS): useful when shares are directly registered or when ACATS is not available.
• Maintain multiple broker accounts: if certain positions are not transferable, you may choose to keep them at the delivering broker while opening new positions at the receiving broker.

Each alternative has trade-offs — tax considerations, timing, and convenience are key factors.

Frequently Asked Questions (FAQ)

Q: Who pays to start the transfer? A: The receiving broker initiates the transfer request. The delivering broker may charge an outgoing transfer fee that is typically paid by the customer; many receiving brokers offer to reimburse these fees as a promotion.

Q: Can I transfer partial lots? A: Yes, in many cases you can transfer partial positions or specific lots, but lot-level transfers depend on the delivering broker’s ability to instruct which tax lots to move. Confirm in advance.

Q: Will open orders move? A: Open orders (pending limit or stop orders) do not usually transfer. After the transfer you should re-enter any desired orders at the receiving broker.

Q: What happens to pending dividends? A: If a dividend is declared before transfer but paid after, the delivering broker may handle payment or the receiving broker may credit you; timing varies. Ask both brokers how pending corporate actions are handled.

Q: Can I transfer my IRA to a taxable account? A: You cannot directly move assets from an IRA to a taxable account via an in-kind transfer without tax consequences. To move IRA funds to a taxable account you generally need to withdraw (taxable distribution) or perform a rollover if moving between qualified retirement accounts.

Glossary

• ACATS: Automated Customer Account Transfer Service — electronic transfer system used by many U.S. brokers.
• NSCC: National Securities Clearing Corporation — part of the U.S. clearing infrastructure supporting transfers.
• DTC: Depository Trust Company — central securities depository that supports settlement and custody services.
• DRS: Direct Registration System — a method for registering shares directly in an investor’s name via a transfer agent.
• In-kind transfer: moving the actual securities (not selling) from one account to another.
• Lot: a specific acquisition event (shares bought together) used for tax lot tracking.
• Cost basis: the original value of a security for tax purposes.
• Settlement: the completion of a trade when cash and securities are exchanged.
• Receiving broker: the firm that will receive the transferred assets.
• Delivering broker: the firm that currently holds the assets being transferred.

Broker Recommendations and Bitget Notes

If you are evaluating brokers, consider trading costs, transfer processes, customer support, custody features, and promotional transfer reimbursements. Bitget offers custody services and Bitget Wallet for secure asset management; users moving assets to Bitget should confirm specific intake and account-opening requirements and ask about transfer assistance. For investors who trade multiple asset types or need integrated wallet solutions, Bitget Wallet can provide streamlined custody for eligible assets and make it easier to manage holdings in one place.

Troubleshooting Example: A Delayed Transfer

Scenario: You initiated a transfer and it’s been two weeks without completion.

Steps to resolve:

1. Ask the receiving broker for the ACATS reference and status. Confirm they did initiate the request.
2. Ask the delivering broker whether they received the transfer and whether they logged any objections.
3. Provide recent statements and proof of holdings to both sides.
4. If the delivering broker blocked transfer due to margin/short positions, resolve those positions and request re-initiation.
5. If no resolution after escalation, use formal dispute channels and keep documentation.

Security and Privacy Checklist During Transfer

• Use two-factor authentication on both accounts.
• Confirm official broker contact channels printed on statements.
• Do not send account passwords or one-time codes by email.
• Notify brokers to place temporary transfer holds if you suspect fraud.

Additional Practical Tips

• Time transfers away from important corporate action dates if possible.
• If you depend on fractional-share strategies, ask both brokers how fractional holdings will be handled prior to initiating transfer.
• If you need lot-level control for tax reasons, request detailed lot transfer documentation and confirm receiving broker support.

References and Further Reading

As of 2026-01-21, industry sources such as Investopedia, NerdWallet, Bankrate, and major broker help centers outline standard transfer timelines and caveats. For DRS and transfer agent guidance consult transfer agent instructions (for example, Computershare). For firm-specific rules consult your broker’s transfer help pages and customer service.

Sources: broker help pages and industry knowledge as reported by Investopedia and related broker guides (reported 2026-01-21). Verify firm-specific details with your brokers before initiating a transfer.

Next Steps and Call to Action

If you are ready to move accounts, start by opening the matching account at your receiving broker, download a recent statement from your current broker, and contact the receiving broker’s transfer team. If you plan to move funds to Bitget or use Bitget Wallet for custody, review Bitget’s transfer guides and ask about fee reimbursement programs and transfer assistance.

Further explore Bitget’s custody and wallet options to streamline transfers and manage assets securely.