You will be able to transfer shares from another brokerage to Syfe Trade via Automated Customer Account Transfer Service (ACATS). Please note that transferring shares from Syfe Trade to another brokerage is not supported at the moment.
As of now, ACATS is only available for US-listed securities. However, we are currently looking to enable Singapore shares transfer functionality from other brokers. You may wish to reach out to our support team if you are interested in moving your Singapore shares from other brokers to your Syfe account.
What is the ACATS process like?
The brokerage that you intend to transfer your securities to (Syfe Trade in this case) is the “receiving firm”. The brokerage where your securities are currently held is the “delivering firm”.
The process always starts with the receiving firm. To transfer securities to Syfe Trade, kindly fill up the “Securities Account Transfer Request” form here and mail it with the most recent account statement of your existing brokerage to firstname.lastname@example.org. Our Syfe Support Team will be in touch for any clarifications.
What securities can I transfer with ACATS?
You can transfer cash and all publicly traded stocks or ETFs on the US stock market.
However, please note that transfer of fractional holdings is not supported, only whole shares can be transferred.
If you own fractional holdings you may either:
- Liquidate the fractional holdings into cash with your existing broker before a full transfer of whole shares and cash can be processed, or
- Opt for a partial transfer of whole shares only.
If you are unsure, you may check with our Syfe Support Team via email at email@example.com before initiating an ACATS transfer request.
How long will it take to transfer my securities?
Once the delivering firm verifies the information sent over by the receiving firm, the ACATS process begins and you can expect your securities in your Syfe Trade account within 10 to 14 business days. It may take longer if the application is rejected for various reasons, such as if form is filled incorrectly.
Can I transfer only some of my securities?
Yes. Just fill in Section 4 of the “Securities Account Transfer Request” form.
Are there any fees to use ACATS?
There are no fees to transfer your securities into your Syfe Trade account but your existing brokerage may charge you a transfer fee. Kindly check with your existing brokerage directly on the fees they charge.
How do I start?
You may download the Securities Account Transfer Request form here. Please send the completed form and the most recent account statement of your existing brokerage to firstname.lastname@example.org. We will update you once the transfer has completed successfully.