When transferring your account from Firstrade to another brokerage, your whole shares will be transferred first. Any fractional shares you hold will then be automatically liquidated by our clearing firm. For example, if you own 1.2345 shares of stock XYZ, the whole share (1 share) will be transferred to the receiving brokerage first. The fractional portion (0.2345 shares) will be liquidated, and the cash value of that portion will be transferred within the following 3-5 business days. Please note that fractional shares cannot be transferred directly between brokerages.
Updated over 3 months ago