Re: Update Concerning Confusion About Transferring
Post# of 11107
Posted On: 05/28/2015 1:02:48 PM
Re: Update Concerning Confusion About Transferring Penny Stock Accounts
From One Broker ToAnother (with Fidelity, Etrade, TDAmeritrade or Scottrade):
I did some DD on this today (by calling all of these companies) and here's what I found out:
1) With Fidelity, Etrade and TD Ameritrade, some penny stocks can be transferred from one broker to another, and some cannot. These brokers have a database with all of the company tickers.
You tell them the tickers of the companies that you want to transfer, and they will look them up and tell you whether these penny stocks can be transferred or not.
So TRANSFER to these companies DEPENDS ENTIRELY ON THE INDIVIDUAL PENNY STOCKS YOU OWN.
2) Scottrade said they (flat out) won't allow the transfer of any penny stocks from another broker.
The reason I posted previously that penny stocks couldn't be transferred is because I have a penny stock account with a broker that contains about 10 penny stocks. When I called both Fidelity and Etrade about transferring this account (to them) they told me that none of my stocks could be transferred.
From One Broker ToAnother (with Fidelity, Etrade, TDAmeritrade or Scottrade):
I did some DD on this today (by calling all of these companies) and here's what I found out:
1) With Fidelity, Etrade and TD Ameritrade, some penny stocks can be transferred from one broker to another, and some cannot. These brokers have a database with all of the company tickers.
You tell them the tickers of the companies that you want to transfer, and they will look them up and tell you whether these penny stocks can be transferred or not.
So TRANSFER to these companies DEPENDS ENTIRELY ON THE INDIVIDUAL PENNY STOCKS YOU OWN.
2) Scottrade said they (flat out) won't allow the transfer of any penny stocks from another broker.
The reason I posted previously that penny stocks couldn't be transferred is because I have a penny stock account with a broker that contains about 10 penny stocks. When I called both Fidelity and Etrade about transferring this account (to them) they told me that none of my stocks could be transferred.
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