We like to make sure you can move your existing US stock portfolio (securities & cash) over to Stake with as little hassle as possible.
The process to request is straightforward, however, the speed and cost can differ depending on the method of transfer. These are outlined in detail below, so please make sure to read the given information before proceeding. Once you've done this, simply complete this online form here - Share Transfer Form.
For existing DriveWealth customers or from brokers using DriveWealth
If your existing broker uses DriveWealth or you already have a DriveWealth account, the process to make a full account transfer is fast and free.
Your shares in your outgoing account must settle before being transferred. Therefore, please wait 2 trading days from your most recent buy/sell transaction before initiating a request.
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 both ACATS and DTC External Share Transfers. Please check with your existing broker if they support ACATS transfers as DTC transfers incur a fee.
ACATS Transfers (Free of charge)
The ACATS process is faster, simpler, and free of charge. ACATS transfers allow you to make a full account transfer of both cash and securities from your existing broker.
Once you've done that, we'll handle the rest of the process with your existing broker and your portfolio should be in your Stake account within a couple of weeks.
DTC Transfers (US$15 per position)
Some brokers still only support the old-school DTC transfers for portfolio transfers, which are provided by the Depository Trust & Clearing Corporation (DTCC) to transfer securities (cash positions are not transferred over).
Please note that DTC transfers incur a US$15 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.
Share transfers through the DTC process can take up to 4-6 weeks but we aim to ensure they are complete in 2-3 weeks. Please include a direct email contact at your existing broker if possible, as DTC transfers require ongoing correspondence and doing so will significantly speed up the process.