Switching online brokers? A guide to transferring your investments

Why switch online brokers?

Investors switch online brokers for many reasons. Some want lower fees. Others look for better trading tools or stronger customer support. For beginners, finding an easy-to-use platform can be the top priority. For experienced traders, advanced charting and order types may matter more.

Fees remain one of the biggest drivers. Many brokers charge commissions on trades or management costs that eat into returns. Through Crypto.com’s App and its registered broker-dealer, you can trade stocks with zero commissions, which means more of your money stays invested instead of going to fees. Even small differences matter. Saving a few dollars per trade can add up to hundreds each year.

Service quality also influences decisions. If your current broker has slow customer support or outdated tools, switching could bring peace of mind. Reliable platforms with strong mobile apps and round-the-clock access reduce stress and give you more control.

Access to more products can also be a deciding factor. Some brokers limit your choices to a narrow set of assets. A platform that supports US stocks, ETFs and cryptocurrencies gives you added flexibility without needing to juggle multiple services.

Sometimes the reason is simply growth. As investors gain experience, their needs expand. A platform that worked at first may not match their goals later. Making the switch can unlock features such as stock lending or advanced analytics, which improve flexibility and potential returns.

The good news is transferring your investments is straightforward. With the right preparation, you can switch without losing momentum or facing unnecessary costs.

What you need before switching brokers

Preparation makes the transfer smooth. Gather the following documents and details before starting:

• Government-issued ID
• Social Security number or tax ID
• Recent account statement from your current broker
• Bank details for funding
• A list of assets to transfer

Most transfers in the US happen through ACATS (Automated Customer Account Transfer Service). ACATS allows your assets to move directly between brokers without you selling or repurchasing them. This protects your tax position and reduces delays.

There may be fees. Your old broker could charge an account closure or transfer fee. These can range from $50 to $100. Crypto.com Stocks offers transfer bonuses that offset these costs. Always ask if fees apply before initiating the move.

Finally, confirm your assets qualify. Some products may not transfer easily, such as proprietary mutual funds. Make sure your new broker supports everything you want to move. It also helps to review your account setup. 

Step-by-step guide to transferring your investments

Switching brokers sounds complex, but it follows a simple process. Here’s how to move your account step by step.

1. Select your new broker

Start by comparing your options. Look at:

• Fees and commissions
• Trading tools and mobile apps
• Range of assets supported
• Account security features
• Customer service availability

Consider your investing style. If you make frequent trades, zero commission pricing matters. If you’re focused on long-term investing, research tools and retirement account options may be more important. 

The Crypto.com platform offers US stocks with zero-commission trading and hundreds of cryptocurrencies. It’s ideal for investors who want diversity across different asset classes, but also seek the simplicity of a single platform.

Learn how to buy stocks with us 

2. Open a new brokerage account

If you decide to use the Crypto.com App and Crypto.com’s registered broker dealer Crypto.com Stocks, first open your new account. This usually takes minutes online. Provide your ID, Social Security number and bank details. Within the Crypto.com App, the setup to then open a brokerage account with Crypto.com Stocks is also streamlined. You can sign up securely, fund your account instantly and start exploring features right away.

When opening your account, match the type to your old one. A taxable brokerage account must move into another taxable account. Mismatched account types create delays or force taxable events.

3. Initiate the transfer

Next, request a transfer form from your new broker. This is usually part of the account dashboard. Fill out the ACATS form with your old broker’s details and the account type you want to transfer.

Choose between a full or partial transfer:

• Full transfer moves your entire account and closes it at your old broker.
• Partial transfer moves only selected assets while keeping the old account open.

Be precise when entering account numbers and asset details. Any errors can delay the process. If you hold assets that your new broker doesn’t support, such as certain mutual funds or thinly traded securities, those will stay behind.

4. Monitor the transfer process

Once submitted, your new broker contacts the old broker through ACATS. A typical transfer takes five to seven business days. During this time, you may not be able to trade the assets being moved. Plan ahead if you expect market changes.

Most brokers provide status updates online. Check regularly to ensure there are no issues. If the transfer stalls, reach out to customer service. Prompt action can prevent further delays.

You may see your assets ‘locked’ during the transfer. This is normal. Avoid initiating new trades in the old account once the process starts, as unsettled activity can interfere with the transfer.

5. Confirm the transfer completion

When the process finishes, review your new account carefully. Confirm all assets have arrived and balances match your old account statement.

Check dividend reinvestments, cost basis and open orders. If anything is missing or incorrect, contact your broker immediately. Keep your old broker’s final statement for your records.

It’s also a good time to review your settings in the new account. Re-establish dividend preferences, automatic transfers or linked bank accounts. Make sure your new setup matches your investing goals.

Potential pitfalls and how to avoid them

Switching brokers is usually smooth, but problems can occur. Here are common issues and how to avoid them:

• Mismatched account types: A retirement account must transfer into the same type. Verify before submitting.
• Unqualified assets: Proprietary mutual funds or specific bonds may not transfer. Check in advance.
• Fees: Some brokers charge exit fees. Ask about bonuses to cover costs.
• Timing issues: Transfers freeze your assets temporarily. Avoid switching right before earnings or expected volatility.
• Form errors: Even small typos delay transfers. Double-check every field.

By preparing documents and confirming details ahead of time, you can sidestep delays. Choose a broker with responsive support in case something does go wrong.

Another overlooked issue is taxes. While ACATS may not impact your tax position, selling assets before or after the transfer can trigger taxable events. Always confirm with your broker or tax advisor before making changes.

Ready to switch?

1. Download our App and follow the easy signup process to open a Crypto.com Stocks account
2. Deposit with bank transfer, card, Apple Pay or Google Pay
3. Trade instantly: 400+ cryptocurrencies and 10,000+ US stocks

FAQs about transferring investments

How long does a broker transfer take?
Most transfers take five to seven business days. Complex accounts may take longer. Some brokers can complete partial transfers in just two to three days.

Can I transfer only part of my account?
Yes. You can move selected assets and leave others behind. This works if your old broker offers an investment type your new broker doesn’t.

Will my investments be sold during transfer?
No. ACATS transfers move assets in-kind, so you keep your positions. This avoids triggering taxable gains or changing your portfolio unexpectedly.

What if my old broker charges a fee?
Some brokers, like Crypto.com Stocks, offset fees with transfer bonuses. Always check promotions before moving accounts, as they can save you money.

Are my assets protected during transfer?
Yes. Brokerage accounts are typically covered by SIPC insurance, which protects securities up to $500,000, including $250,000 for cash. This protection continues even during transfer.

Can I transfer margin accounts?
Yes, but margin balances must be paid off or accepted by the new broker. If the new broker doesn’t support your level of margin use, you may need to reduce positions first.

Will dividends and interest transfer too?
Yes, but timing matters. Dividends declared during the transfer may be credited later, once your old broker completes reconciliation. Always keep an eye on income payments.

Do I need to notify my old broker?
Not usually. The ACATS request through your new broker triggers the process. Still, checking with your old broker ensures there are no surprises.

This is informational content sponsored by Crypto.com and is not  investment advice.

Foris Capital US LLC (FCUL or, at times herein as “Crypto.com Stocks”) is a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a Member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). For further information about FCUL, please visit FINRA BrokerCheck.  

FCUL is a subsidiary of Crypto.com. FCUL is a separate entity from Crypto.com, Foris DAX, Inc., and other affiliated Foris companies. FCUL does not engage in the sale, transfer or custody of crypto currencies or digital assets. Crypto.com is a separate entity from FCUL and does not engage in the securities business. Customer balances and crypto holdings held and transacted at Crypto.com and other entities outside of FCUL are not covered by SIPC insurance and are separate from securities transactions and holdings at FCUL.

All investments involve risk, and not all risks are suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit or protect against loss in a down market. There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing.​​