We make sure you can move your existing US stock portfolio (securities & cash) over to Stake with as little hassle as possible.
The process is pretty straightforward and the speed and cost that your existing brokerage charges you can differ. These are set out below.
For existing DriveWealth customers or brokers using DriveWealth
If your existing broker uses DriveWealth or you have a DriveWealth account the process is fast and free.
If your broker tells you there is a charge, they are pocketing this money and using it as a barrier to keep you from transferring your assets out (instead of building you a better product).
All you'll need to do is complete the online form here - Share Transfer Form
The process is super simple and the transfer happens between trading sessions, so there will be no interruption to your investing.
From other brokers
Stake’s US broker partner (DriveWealth) accepts DTC Share Transfers, provided by the Depository Trust & Clearing Corporation (DTCC), which serve as the clearinghouse for over 50 exchanges and equity platforms.
To get your transfer underway, complete the online form here - Share Transfer Form
Please note that DTC transfers incur a $15USD fee per security holding (charged by our broker DriveWealth). To ensure that your transfer is processed efficiently, your account will need to be funded with this prior to the transfer being effected.
Your cash positions at your existing broker do not transfer across, only your securities in your portfolio.
As this is a slightly old-school brokerage process, DTC transfers can take up to 4-6 weeks but we endeavour to ensure they are complete in 2-3 weeks.