Can you have open positions if and when you move from one broker to another??

Discussion in 'Retail Brokers' started by Cabin111, Aug 25, 2020.

  1. Cabin111

    Cabin111

    I am not planning on moving...I'm at Schwab and Fidelity and am happy with them. I do mostly covered calls. Just wondering what has to be cleared off the books before you can move your account to another brokerage??
     
  2. xandman

    xandman

    Schwab and Fidelity would surely allow for it. They run full-scale operations. Best to check with the other brokerage as well.
     
  3. zdreg

    zdreg

    maybe.
    Guessing is for amateurs.
     
    Last edited: Aug 25, 2020
  4. realtrades

    realtrades

    Yes, you just select "transfer in kind" and the account is transferred as is.
     
  5. %%
    NOT likely@ all........................................................................................Have to ''call'' them
     
  6. drm7

    drm7

    For unlevered stock positions, you can definitely transfer them in-kind. I'm not sure about options.
     
  7. Fidelity is an excellent broker that will not charge you for withdrawals or transfers. All you have to do is, click on the ‘transfer in kind’ option and you will be good to go. Although I really like Fidelity, I felt at the time of making a transfer to Turnkey forex that it is a bit complex to use, for a relatively new trader. Turnkey forex is much simpler to use, and their customer support is awesome.