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Yes. In the U.S., you can generally move cash and eligible investments from one online broker to another by requesting a full or partial account transfer through the new broker. Many transfers use the industry’s Automated Customer Account Transfer Service (ACATS), but whether each holding moves intact depends on both firms and the specific investment.
How to transfer a brokerage account
The broker you are leaving is the carrying firm; the broker you are joining is the receiving firm. Start with the receiving broker: it will tell you whether it can accept your account and holdings and provide the transfer initiation form (TIF) or online process. If both firms are eligible ACATS participants, the receiving firm generally submits the request through ACATS. If the firms or assets are not eligible, the transfer may need to be handled manually and can take longer. See FINRA’s account-transfer overview.
- Check the destination account. Confirm that the new broker supports the same account registration and account type and can accept each investment you want to move. Ask about account minimums and any transfer restrictions.
- Ask about costs and exceptions. Check for outgoing or incoming transfer fees and any fees to liquidate an unsupported holding. Find out how open orders, fractional or residual positions, and cash credited after the main transfer will be handled.
- Submit the receiving broker’s transfer request. Provide the requested account details and specify whether you want a full or partial transfer. Do not initiate a second request unless the receiving firm instructs you to.
- Resolve any unsupported positions. Before authorizing a disposition, establish whether an asset must remain at the old firm, be sold, or be transferred directly to you, and how any sale proceeds will be handled.
Which stocks, cash, and other assets can move?
FINRA says cash, domestic-company stocks and bonds, and listed options are generally readily transferable through ACATS. Eligible mutual funds may also transfer, depending on the particular fund and the receiving broker’s arrangements. That general guidance is not a promise that a specific broker accepts every security or product. FINRA summarizes common asset categories in Regulatory Notice 22-19, dated August 8, 2022.
Proprietary investments from the old broker and third-party products the new broker does not support may be nontransferable. Limited partnerships or investments that require re-registration or other special handling may need a manual process. The firms must confirm the treatment of each position; a ticker or product name alone may not establish transfer eligibility.
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What happens to a stock the new broker will not accept?
For specified nontransferable assets in a whole-account transfer, FINRA Rule 11870 requires the customer to receive information about the affected asset and request disposition instructions. Depending on the asset and circumstances, you may be able to leave it at the carrying firm for your benefit, have it liquidated, or arrange a direct transfer to yourself. A sale or redemption may involve fees, and you should determine where the proceeds will go before choosing.
For securities in a retirement plan, the carrying firm must inform you that your chosen disposition method may create tax or penalty liability. Tax treatment depends on the account, asset, disposition, and individual circumstances; do not assume that every transfer or liquidation has the same tax result. Read FINRA Rule 11870 and ask the brokers or a qualified tax professional about your situation.
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How long does an online broker transfer take?
For a transfer covered by FINRA Rule 11870, the carrying firm generally must validate the instruction or take a permitted exception within one business day after the instruction is established. Once validated, it generally has three business days to complete the transfer. These are rule deadlines for specified steps, not a guarantee that every asset will be available in the new account within a fixed number of calendar days. Manual handling, exceptions that need resolution, nontransferable assets, and operational issues can extend the overall wait.
For a whole-account transfer, the rule provides that the account is frozen after validation and open orders are generally canceled. It also addresses certain residual credit balances after the transfer. Ask both brokers how they will handle orders and later-arriving cash or credits in your particular case.
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Full transfer or partial transfer?
FINRA Rule 11870 covers transfers of an entire securities account as well as transfers of specifically designated assets. A partial transfer can be useful when you want to move selected holdings while leaving an unsupported investment behind. A whole-account transfer can trigger the rule’s account-freeze and open-order provisions after validation, so check the impact on outstanding orders before choosing. Account eligibility and the receiving firm’s minimum requirements may also affect whether it will accept a full transfer.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Questions to ask both brokers before moving your account
- Can you accept each holding in kind, including the exact fund, option, bond, or other product?
- Can you receive the same account type and registration?
- Are there incoming or outgoing transfer fees, liquidation costs, minimum-balance requirements, or restrictions?
- What happens to open orders and any fractional or residual positions?
- How will cash credits that arrive after the main transfer be handled?
- If an asset cannot move, can it stay with the old firm, be liquidated, or be transferred directly to me, and what charges or tax consequences might apply?
FINRA describes the process and coordination obligations in Rule 11870; firm-specific acceptance, fees, and handling should be confirmed directly with the brokers before you submit a request.
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