Stock Markets Exposed

What happens when I switch online brokers?

Hi, I will start investing in stocks online in a few months. Because I can only start investing with a small amount each month I will use Sharebuilder.com since it is the cheapest that I can find. With Sharebuilder I can also buy portions of a stock. Eventually, I expect to switch online brokers once the amount that I am putting in increases. What happens when I switch brokers? Is it a easy process or a complicated one?

Public Comments

1. It is easy all you have to do is open an account and have the stock you own transfered. The new brokerage firm will handle the transaction for you. Go to any online broker and you will see a tab that says transfer your account. But I have no idea what sharebuilder is and a brokerage firm will not recognize that you own a 1/2 a share of google.
2. Just fill out thr forms with the new broker. They take care of the rest. Might take 3 days for the switchover but thats about it.
3. the new broker will do all of the work and you will piss off the old broker!!!