1. Do I have to open an account with PennTrade before I transfer in an account from another brokerage?
2. Can I transfer my account/securities from another brokerage?
3. How long does it take to transfer securities from another brokerage account?
4. Can I transfer a margin account to PennTrade?
5. Can I transfer an account with a different title/social security number?
6. Can I trade securities I am transferring from another brokerage during the transfer process?
7. Can I transfer part of my account from PennTrade to another brokerage firm?
8. Can I transfer positions between my PennTrade accounts?

Do I have to open an account with PennTrade before I transfer in an account from another brokerage?
Yes, you must first establish an account with PennTrade before you can transfer an account. Please go to http://secure.penntrade.com/nac.html to apply online.

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Can I transfer my account/securities from another brokerage?
Yes. To do a full or partial account transfer, you will need to download our Transfer of Assets form by clicking here. Please complete and sign this form and return the originally signed form along with a complete copy of your most recent statement from your other brokerage. Be sure, for PARTIAL transfers, to indicate the positions and/or cash to be transferred.

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How long does it take to transfer securities from another brokerage account?
PLEASE NOTE: Account transfer's timeliness are dependent upon the delivering firm (your old brokerage) acting upon the transfer instructions they are given. Automated account transfers (full & partial) usually take 7-14 business days. Non-automated
account transfers can take 3-5 weeks.

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Can I transfer a margin account to PennTrade?
We will accept margin account transfers on a case-by-case basis. Please contact us before transferring a margin account.

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Can I transfer an account with a different title/social security number?
No, regulations do not permit this. Account types must match as well. For instance, you could not transfer a ROTH IRA from another firm into your Traditional IRA with PennTrade.

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Can I trade securities I am transferring from another brokerage during the transfer process?
Once you submit an account transfer form, your account will most likely be frozen at your existing brokerage. Do not attempt to trade any securities you are transferring, as this will delay the transfer process.

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Can I transfer part of my account from PennTrade to another brokerage firm?
Yes. We must ask that you initiate the outgoing transfer by contacting the other brokerage firm (the "receiving firm"). If the transfer can be done via ACAT (Automated Customer Account Transfer service) then the receiving firm will submit your transfer electronically, which is the quickest. If the position is not ACAT eligible or the receiving firm does not participate in the ACAT system, then the receiving firm must submit physical paperwork to NFS directly at the following overnight address:

TOA Deliveries
100 Crosby Parkway
Mailzone KC1B
Covington, KY 41015

The transfer information (submitted by the receiving firm to NFS) must include the following information

-Customer's PennTrade account number
-The receiving brokerage firm's name, address, and clearing house number
-The customer's account number at the receiving firm
-Instructions on how to transfer the assets (in-kind or after liquidation)
-Letter of Acceptance on retirement accounts

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Can I transfer positions between my PennTrade accounts?
Yes. To transfer cash and / or positions between your PennTrade accounts, please fill in and sign a Letter Of Authorization form. We require the originally signed form. All account signers must sign this form. *Please Note* The reason for transfer is required per the U.S. Patriot Act and is subject to review.

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