Yes. In the U.S., you can generally transfer cash and eligible investments from one online broker to another, either as a full account transfer or by moving selected assets. Many eligible transfers use ACATS, but whether each holding can move—and how long the entire process takes—depends on the two firms and the specific assets.
How to transfer a brokerage account
Start with the broker you want to move to. It is the receiving firm; your current broker is the carrying firm. The receiving firm typically has you complete an authorized Transfer Initiation Form (TIF) and submits the request through the Automated Customer Account Transfer Service (ACATS) when both firms and the assets are eligible. If ACATS cannot be used, the firms may handle the transfer manually, which can take longer. See FINRA’s account-transfer overview.
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- Confirm the destination account. Ask the receiving broker whether it supports your account type and registration, and whether it can accept each holding you plan to move.
- Check transfer terms with both firms. Ask about incoming or outgoing fees, account minimums, restrictions, open orders, unsupported assets, fractional or residual positions, and how cash credits arriving after the main transfer are handled.
- Submit the transfer request to the receiving broker. Specify whether you want a full transfer or only designated assets. Follow the receiving firm’s instructions and provide the account details it requests.
- Resolve any exceptions before assets move. If a holding cannot be transferred as requested, get the available disposition choices and their costs or consequences before authorizing a sale or other action.
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 fund and the receiving broker’s arrangements. This is not a guarantee that every broker accepts every security. FINRA summarizes common ACATS asset categories in Regulatory Notice 22-19, dated August 8, 2022.
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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11A receiving broker may not accept a proprietary product from your current firm, or a third-party product it lacks an arrangement to carry. Some holdings with unusual characteristics may require manual handling; FINRA’s 2006 task-force report discusses examples such as limited partnerships and products that require re-registration. Because that report is historical, ask both firms about the specific investment rather than relying on it as a current acceptance list.
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Full transfer or partial transfer?
FINRA Rule 11870 covers transfers of an entire securities account as well as specifically designated assets. A partial transfer lets you move selected holdings while leaving others behind, if the firms can accommodate the request. For a whole-account transfer, check that the destination accepts the account registration and meets any applicable account requirements or minimums.
A whole-account transfer has operational effects: after validation, the account is frozen and open orders are generally canceled. FINRA’s rule also addresses certain residual credit balances that appear after the main transfer. Ask the firms how they handle any remaining cash, later credits, or positions that cannot move with the rest of the account. Read the current FINRA Rule 11870.
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How long does a transfer take?
For transfers 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. After validation, it generally has three business days to complete the transfer. The firms must promptly address exceptions and coordinate the process.
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Those are rule-based processing milestones, not a guarantee that every asset will be visible and available in the new account within a fixed number of calendar days. Manual processing, unresolved exceptions, assets that cannot transfer, and operational issues can extend the overall wait.
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What happens to a stock your new broker will not accept?
For certain nontransferable holdings in a whole-account transfer, FINRA’s rule provides for the customer to receive information about the affected asset and request disposition instructions. Depending on the asset and circumstances, possible choices can include leaving it with the carrying firm for your benefit, liquidating it, or arranging a direct transfer to you. Confirm what each option involves and where any proceeds will go before deciding.
- Leaving it behind: Ask whether the old broker will continue to hold and service the position, and what account access or fees may apply.
- Liquidating it: A sale or redemption may involve fees and can have tax consequences. Ask how and when the proceeds will be delivered.
- Taking direct delivery: Find out whether you need a particular registration, receiving account, or other arrangement to hold the asset yourself.
For securities in a retirement account, FINRA assigns the carrying firm responsibility to inform customers that the chosen disposition method may create tax or penalty liability. Do not assume a transfer or liquidation is tax-free; consequences depend on the account, asset, transaction, and individual circumstances.
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Questions to ask before you initiate
- Will you accept each ticker, fund, option, or other product in kind?
- Can you receive this account type and registration?
- Are there incoming or outgoing transfer fees, liquidation charges, minimums, or restrictions?
- What happens to open orders, fractional shares, residual positions, and cash credited after the main transfer?
- If an asset cannot move, can it stay at the old firm, be sold, or be delivered directly to me—and what are the costs or tax considerations?
- Who should I contact if an exception delays the transfer?
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