It is possible to transfer your securities from another broker to baraka. You will need to contact your current broker and ask which method of transfer they support. Depending on the transfer method, you will need to fill an initiating form and send it to our support team, along with a recent account statement from your current broker (that is not older than 90 days). Once initiated, the transfer process will take up to 5-7 business days.

Type of Transfer:

ACATS
ACATS is a common transfer method for brokerages as it allows customers to transfer their entire account with one form, including stocks, bonds, cash, mutual funds, unit trusts, and options.

To transfer assets via ACATS, you will need to complete an LOA document and send it with your recent account statement to us.

DTC
DTC transfer enables clients to transfer full stock positions between brokers electronically without physical certificates. It is faster than ACATS transfer and preferred when moving only one stock.

To process an incoming DTC transfer, you will need to complete a DTC Letter of Authorization and return it to us.

DRS
A DRS (Direct Registry System) transfer allows the electronic transfer of stock shares between a broker-dealer and transfer agent. DRS allows investors to directly register shares in their name rather than have shares in “street name” registration. Instead of holding a physical stock certificate, investors will have stock electronically registered in their name with the transfer agent.

To transfer stocks to DriveWealth through DRS, you will need to complete an Incoming DRS Transfer Form and transfer statement to us.

DWAC
A DWAC transfer allows electronic transfer of stock shares between a broker dealer and transfer agent. DWAC transfers will be processed within 1-2 business days from when they are received, and are settled on the same day they are processed.

To process an incoming DWAC transfer, you will need to complete the DWAC Letter of Authorization and return it to us.

About baraka

Account Funding and Withdrawals

Account Management

Get Started

Investing

What happens if I leave the GCC?