Barron's 4.5 Stars 2014 Open an Account Button Contact Us Login Log In Log into

Transfer my Account to Place Trade

Full Transfer

Partial Transfer

Why was my account transfer rejected?

Funding Reference

Simple Tips to Transfer an account (from another firm) to an existing account Place Trade®:

 

Transferring your account is easy with these simple instructions! 

Learn how to move US securities positions over from your current brokerage account to Place Trade

     
 

Broker to broker transfers for US securities are conducted via a process known as the Automated Customer Account Transfer Service or ACATS. This process generally takes between 4 to 8 business days to complete in order to accommodate the verification of the transferring account and positions. The request is always initiated via the receiving broker (Place Trade [PT] in this case) and can be prompted by following the steps below.

 
 
 
Simple Steps to Transfer your Account:
 
 
 

 

1. Log into Account Management and select the Funds Management and then Position Transfers menu options.

2. From the Transfer Method drop-down list select ACATS - US Broker Transfer.

3. From the Type drop-down list select either Full or Partial.

a. Please note that the Full election does not require that you specify any assets as an attempt will be made to transfer your account in its entirety. Account holders should note, however, that certain positions may not be on the list of securities eligible to trade at PT and others, while transferable, may be subject to a house margin requirement higher than that of the delivering broker. In the event PT receives an asset list from the delivering broker which includes ineligible positions or the aggregate of the positions transferred are such that a margin deficit would exist were the transfer to occur, PT will attempt to contact you to remedy the situation within the allocated time frame after which an automatic reject of the full transfer would take effect. Account holders may wish to minimize potential delays or problems associated with a Full transfer request by verifying security eligibility and margin requirements via the Contract Search Engine prior to initiating the transfer.

b. Note that the symbol for the Partial transfer election will require that you specify the positions you wish to transfer on step 5.

Please be sure that you verify that you have chosen the correct security when you enter your positions in the partial transfer process. Often times the same ticker symbol is used on different exchanges for different securities.  If you enter the right symbol but choose the wrong exchange the system will populate the name of the security that matches the security that is held on the exchange that you entered causing the wrong security to be entered into the account transfer request.  If the security is incorrect it will cause the account transfer to be rejected.  (You do not have to enter the individual securities when you are transferring your entire account.)  Please feel free to call us at 1-800-50-PLACE (1-800-507-5223) or directly at 1-919-719-7200 if you have any questions or would like us to help you with any part of the transfer process.

4. From the Type drop-down list select the delivering broker. 

Please note that certain brokers maintain multiple Participant account numbers with DTCC and account holders are encouraged to confirm with their delivering broker the account number to be associated with the transfer request.

5. On the Deposit & Transfers/ACATS Request form:

Please enter the account number as reflected on your delivering broker account statement (the number of the account that you are transferring to PT) and respond to questions regarding the existence of a margin loan, short positions and option positions. Note that certain short stock positions may not be transferable if PT is unable to locate and borrow. In the event of a ‘Partial’ election, you will need to provide additional detail (product identification, number of shares/contracts, long/short designation) as to the stock, option, mutual fund, bond or cash position you wish to transfer.

6. Provide electronic signature authorizing the transfer:

Please note that brokers generally freeze the account during the transfer period to ensure an accurate snapshot of assets to transfer and may restrict the transfer of option positions during the week prior to expiration. You may wish to check with the delivering broker to verify their policy in this regard. In addition, please note if your PT account is currently maintaining positions on margin, any cash withdrawals or adverse market moves could increase the likelihood that your account falls out of margin compliance during the transfer period which may delay or prevent completion of the transfer.

 
     
 
     
  
 

IMPORTANT NOTICE

Applicants may meet the initial account funding requirement through the transfer of securities/equity positions and/or cash via the ACATS system.

 
 
 
 
 
 
 
     
   

Why was my account transfer rejected?

View a list of the most common causes for ACATS/ATON rejects / Reasons why your account may have been rejected during the transfer process. (Don't worry, if this ever happens it is usually due to a simple matter that we can easily resolve for you or the rejection is caused by your current broker. Either way, please give us a call at 1-800-50-PLACE or 1-919-719-7200 and we will help you find out and resolve the issue as quickly as possible.  

 

 
      
 For a detailed description of the Full ACATS/ATON process flow please view Process Flow - FULL ACATS TRANSFER (Overview Account Transfer Process)

 

 

Please contact one of our Customer Service Centers at the numbers provided below for further assistance:

 

 
 
 

 

 

 
 

Between 8:30 am - 5:30 pm EST please call: 

For all countries:  1-919-719-7200 

Outside of these hours please call the following: 

Australia: +61-2-9240-5143

Hong Kong: 852-2156-7907

US:  direct 312-542-6901; toll-free at 877-442-2757

Europe: direct 41-41-726-9500; toll-free at 00800-42-276537

Canada: 1-877-745-4222

 
 

 

 

 
 
     

Back to the top 

_______________________________________________________________________

Account processing will occur within one (1) business day after receipt. Once your account has been approved, cleared funds are required to begin trading. All checks including certified and cashier's checks require a minimum of 5 business days before becoming available for investing. For options trading, a minimum of 7 business days is required.

Please visit our "Fund your Account" page for more information about the account funding process at Place Trade Financial.  Thank you!

 

 

s5box


Learn more about retirement planning by visiting some of the links below:

Roth IRA

SEP IRA

SIMPLE IRA

Traditional IRA

Qualified Plans

Rollover IRAs

Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


Coverdell ESA

529 College Savings Plans

UGMA/UTMA Accounts