Transfer from Fidelity to TradeStation or Vice Versa
If you have a brokerage account with Fidelity Investments and want to try TradeStation, or if you’re switching from TradeStation to Fidelity, follow this guide to move your account smoothly.
Moving from Fidelity to TradeStation
Follow these simple steps to transfer your account from Fidelity to TradeStation:
Step One: Open a new TradeStation account if you don’t already have one. An existing account will work if it has the same name and type (such as trust account to trust account).
Step Two: Once the TradeStation account is open, you need to prepare it. If option contracts or a margin balance will be transferred, make sure to enable these privileges in the account. Add the correct margin level, and if foreign stocks are part of the transfer, activate foreign-stock trading.
Step Three: Prepare the Fidelity account. If you plan a full transfer, close out any open orders and allow completed trades to settle. Avoid moving options that expire in less than a week. Cryptocurrencies are not transferable through the ACAT system and must remain in their separate Fidelity account. Foreign stocks can be transferred if both firms support them, which they do.
TradeStation offers mutual fund trading, but some funds might not be accepted. It’s best to check with TradeStation beforehand. If your Fidelity account is a robo account, all positions must be converted to cash since TradeStation doesn’t accept mutual funds used in Fidelity’s automated program.
Step Four: Once both accounts are ready, initiate the ACAT transfer through TradeStation. TradeStation doesn’t provide an online ACAT form, so you’ll need to complete a paper form. You can access the form from your TradeStation account by clicking the Transfer Funds link in the top menu. Submit the form via email, mail, or fax.
Step Five: Monitor the transfer on the TradeStation website. Go back to the Transfer Funds tab, and select Transfer History to track the status of your request.
There are no fees for receiving an ACAT transfer at TradeStation, and Fidelity charges nothing to send one.
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Moving from TradeStation to Fidelity
Follow these steps to move your account from TradeStation to Fidelity:
Step One: Open a new Fidelity account if your current one isn’t the right type or doesn’t have the correct name. It can be either an advisory or self-directed account.
Step Two: Prepare the Fidelity account by adding margin and options trading if needed. Enable foreign-stock trading if you plan to transfer foreign equities.
Step Three: Make sure the TradeStation account is ready. Futures can’t be transferred through ACAT, and Fidelity doesn’t support them. Avoid transferring options that expire soon and leave cryptocurrencies behind at TradeStation. Some OTC stocks may not be accepted by Fidelity, so verify eligibility beforehand.
Step Four: Start the ACAT transfer through Fidelity. Fidelity provides a digital ACAT form on its website and mobile app. On the app, tap the Transact icon and select Transfer investments from another firm. Enter "TradeStation Securities" as the outgoing broker and provide the required account details.
You can also access the form on Fidelity’s website by hovering over the Accounts & Trade tab, selecting Transfers, and following the prompts.
Fidelity’s robo accounts only accept cash, so everything in your TradeStation account must be liquidated if transferring to a robo account. Keep in mind that this could result in tax consequences if the account is taxable.
TradeStation charges $125 for outgoing transfers. Fidelity will refund this fee if the transfer is worth $25,000 or more.
Step Five: Track your transfer on the Fidelity website. Go back to the Transfers page and select the link to track account transfers.
Comparison and Alternatives
How Long Does a Transfer Take?
The transfer from Fidelity to TradeStation typically takes 7 to 10 business days. Transfers from TradeStation to Fidelity are estimated to take 3 to 5 business days, but this may vary.
Updated on 10/16/2024.
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