Brokerage transfer fees?
So currently I am using Optionshouse and I want to transfer to TD Ameritrade and I was wondering how do I find the fees? Does Optionhouse have fees to transfer does TD Ameritrade have fees and Do I still get to keep all my stocks or do I have to sell and rebuy
- A nobodyLv 77 years agoFavorite Answer
YES you get to keep all your stock, the only time a customer would have to sell their stock is if their are fractional shares. Whole shares can easily be moved from one brokerage firm to another. In most cases fractional shares are sold by the delivering broker but the receiving broker my b uy fractions for you
Usually the receiving broker DOES NOT charge any fees Unless the stock being moved is a penny stock and the receiving would have to pay to have the stock transferred to their nominee name
You should Optionhouse for the delivery fees since all firms do not have the same fee nor do some charge fees depending on how the stock will move from one firm to another Stocks usually move through the ACATS system which uses DTC.Source(s): from the street
- Eddie WLv 77 years ago
Go to TD Ameritrade, give them your Optionshouse portfolio summary statement, sign and authorization form. TD Ameritrade would take care of the transfer for you free of charge.