Going to switch brokers soon. Can I transfer short stocks?

B

BaconFat

I plan on switching to a different trading platform in the very near future. I'm currently using Fidelity, but due to the limitations with their platform, and poor customer service, I'm looking at several other brokers and leaning towards IB.

Among my current assets, I'm holding several short positions. Am I correct in assuming those would need to be covered prior to transferring my assets to a different broker?
 
BaconFat said:
I plan on switching to a different trading platform in the very near future. I'm currently using Fidelity, but due to the limitations with their platform, and poor customer service, I'm looking at several other brokers and leaning towards IB.

Among my current assets, I'm holding several short positions. Am I correct in assuming those would need to be covered prior to transferring my assets to a different broker?
More...

You have to ask the receiving broker. Just fill out the ACAT and they will review your positions.
 
BaconFat said:
I plan on switching to a different trading platform in the very near future. I'm currently using Fidelity, but due to the limitations with their platform, and poor customer service, I'm looking at several other brokers and leaning towards IB.

Among my current assets, I'm holding several short positions. Am I correct in assuming those would need to be covered prior to transferring my assets to a different broker?
More...


I moved two of my accounts recently, did not hold any shorts but it did take a solid week to transfer doing it all electronically. So if you have any positions you feel will be volatile in the next week due to earnings and fed statements I would look into that first before making the transfer.
 
S2007S said:
I moved two of my accounts recently, did not hold any shorts but it did take a solid week to transfer doing it all electronically. So if you have any positions you feel will be volatile in the next week due to earnings and fed statements I would look into that first before making the transfer.
More...

Do you mind me asking who you left and the reasons why? Who did you choose to move to?
 
BaconFat said:
Do you mind me asking who you left and the reasons why? Who did you choose to move to?
More...


I left trade king that was recently bought out by ally invest, I thought I would be grandfathered in into my original commission pricing but was told I wasn't going to be so I moved my entire account to another new broker that offers free trading called Webull. I wanted to try them out so I made the switch. So far been using them for a couple of months, I would not recommend them since you seem to want more of a full service broker coming from fidelity, I would go with one of the top 5 online brokers, sometimes if you bring over a sizeable account they will work on commission pricing with you. Do you only trade stocks?
 
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