Transfer Fidelity to Moomoo Or Vice Versa
Do you have a brokerage account at Moomoo but would rather trade at Fidelity? Or do you have a Fidelity account but want to move to Moomoo? Your wish can come true if you follow this easy guide.
Transfer from Fidelity to Moomoo
To transfer securities between these two firms, they must use the same transfer system. Moomoo does not support ACAT transfers, so this option is not available. However, both Fidelity and Moomoo participate in DTC transfers, which will be used for this process.
A DTC transfer allows for the transfer of specific securities. To get started, you’ll need both accounts open (one at Fidelity and one at Moomoo) and ready for the asset transfer.
Since Fidelity is the outgoing firm, you’ll need to contact them with the following details:
- Your Fidelity account number
- Moomoo’s DTC number: 0534
- Your Moomoo account number
- Name on your Moomoo account
- Specific securities to transfer and their share amounts
This transfer should be initiated using the official DTC transfer form. For transfers valued at $17,000 or more, you’ll need a medallion signature guarantee, which may require additional time. If you complete the form at a Fidelity branch, the medallion signature guarantee isn’t necessary.
Stocks held on margin can be transferred via DTC. Cryptocurrencies cannot be transferred, and Moomoo does not offer trading in bonds or mutual funds. Some OTC stocks can be transferred, but it's best to check with Moomoo to see if specific OTC stocks are eligible.
Because Fidelity uses mutual funds for robo accounts, positions from these accounts can’t be moved to Moomoo. These and other non-transferable assets can be liquidated, and the resulting cash can be transferred to Moomoo via an intermediary bank or your Fidelity account. Fidelity accounts have routing and account numbers, which can be used for ACH transfers. Fidelity’s ABA/routing number is 101205681.
For a standard DTC transfer, Fidelity will process the request and send the assets to Moomoo. Neither firm charges fees for DTC transfers, and ACH transfers between banks are also typically free.
Top Transfer Destinations
Transfer from Moomoo to Fidelity
Transferring in the other direction follows a similar process, but Moomoo does not have a specific DTC transfer form. To start, email cs@us.moomoo.com with the following information:
- Your Moomoo login ID
- Your Moomoo account number
- Receiving firm name (Fidelity)
- Fidelity’s DTC number: 0226
- Your Fidelity account number
- Name on your Fidelity account
- Stock symbols and quantities to be moved
- Acknowledgment that you’ll pay a $75 fee for each stock transferred (ensure enough cash is available in the account)
Although the fee is high, Fidelity may refund it if the transferred assets are worth at least $25,000.
Fidelity accepts many OTC stocks, but there are restrictions:
- The stock must be priced at least $0.25
- The company must have a market cap of at least $25 million
- Grey Market, Expert Market, Pink no-information, or Caveat Emptor stocks are not eligible
Transfer Time Frame
Moomoo estimates 2 to 3 weeks to complete a DTC transfer after receiving the paperwork. A DTC transfer from Fidelity may take a similar amount of time. Any errors in the paperwork will extend the time frame.
Updated on 10/16/2024.
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