FAQs – Stock Transfer

Here are a few tips for stock transfers:

1) Only US market stocks, options, ADRs, and ETFs that are tradeable on GPS are accepted. 

2) GPS supports individual cash and margin accounts, traditional IRAs, Roth IRAs and Rollover IRAs only. 

3) The name and type of the delivering account must be identical to the receiving account’s name and type. Transfer may be delayed if your outgoing account type differs from your GPS account. 

4) Your broker may charge you $75 for transferring out; the specific amount varies by brokers. 

5) In order to protect our customers, GPS does not support account transfers below $500 due to the high transfer cost. The alternative free option is to liquidate your positions at your broker, pull the funds to your bank, and deposit those funds into your GPS account.

How long does the stock transfer take? 

Stock transfer usually takes 5-7 business days to complete. However, delays may occur if your outgoing account type differs from your GPS account. Delays can also occur if you have any activity in your outgoing account (unsettled stocks, ACH transactions, etc).  

Please contact us if your transfer is pending for more than 7 business days.

What are the fees for transferring funds?

Stock transfer usually takes 5-7 business days to complete. However, delays may occur if your outgoing account type differs from your Webull account. Delays can also occur if you have any activity in your outgoing account (unsettled stocks, ACH transactions, etc).  Please contact us if your transfer is pending for more than 7 business days.

Transfer Stock to GPS (Incoming): $0. 

GPS does not charge for incoming transfers. However, your outgoing broker may charge you for transferring out. Please contact your outgoing broker for details. The alternative free option is to liquidate your positions at your current broker, withdraw the funds to your bank, and deposit those funds to your GPS account.                                       

Transfer Stocks from GPS (Outgoing): $75. 

If you’re transferring stocks from GPS to an outside broker, there is a $75 fee for each outgoing transfer. 

GPS does not benefit financially from security transfers; the outgoing transfer fees are charged by IBKR, our clearing firm. 

We support all listed US stocks on the GPS platform, which means if you can buy/sell the security, you can transfer it to or from your GPS account. This covers most US listed equities and ETFs; however, a few stocks and ETFs are not supported for trading by IBKR, our clearing firm (Currently, bonds, mutual funds, pink sheets or penny stocks on OTC markets are not supported). 

To ensure the specific security being transferred is tradable on GPS, please check with the following method. 

1)Tap “Watchlists” in the bottom navigation bar. 

2) Tap the “Search key” on the top right corner. 

3) Search the symbol or company name. If no trade button shows up on the bottom, it is not tradable on GPS. 

If you are trying to transfer bonds, options, mutual funds, or other types of securities not supported on GPS, your transfer will be rejected.

Stock transfers to GPS may be rejected or pending for more than 7 business days for the following reasons. 

1) You are trying to transfer unsupported securities like bonds, mutual funds, penny stocks on OTC markets, or other securities not tradable on GPS. 

2) Your account has insufficient cash to cover the outgoing broker’s transfer fees. 

3) There is a negative balance or margin debit in your outgoing broker’s account. 

4) You submitted trading attempts during the transfer process. 

Please contact us for more details if your transfer is delayed.

ACATS (Automated Customer Account Transfer Service) is a system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and bank to another. The service reduces operating costs and speeds up transaction settlements.

After you initiate a transfer-out request, your GPS account will be restricted immediately from trading, depositing, or withdrawing. 

If it is a partial transfer, your account will be unrestricted once the transfer is completed. 

If it is a full transfer out, your GPS account will be automatically closed after the stock transfer is complete. Any new funds or shares in your GPS account will be swept to the other brokerage account. 

Transfer Stock to GPS (Incoming): $0. 

GPS does not charge for incoming transfers. However, your outgoing broker may charge you for transferring out. Please contact your outgoing broker for details. The alternative free option is to liquidate your positions at your current broker, withdraw the funds to your bank, and deposit those funds to your GPS account.                                       

Transfer Stocks from GPS (Outgoing): $75. 

If you’re transferring stocks from GPS to an outside broker, there is a $75 fee for each outgoing transfer. 

GPS does not benefit financially from security transfers; the outgoing transfer fees are charged by IBKR, our clearing firm. 

After you initiate a transfer-out request, your GPS account will be restricted immediately from trading, depositing, or withdrawing. 

If it is a partial transfer, your account will be unrestricted once the transfer is completed. 

If it is a full transfer out, your GPS account will be automatically closed after the stock transfer is complete. Any new funds or shares in your GPS account will be swept to the other brokerage account. 

Inconsistent account types in your GPS account and your outgoing account can cause delays in the transfer. Please switch the account type before sending your stock transfer request. If not, your transfer may be delayed, and you will not be able to trade as normal.