If you have a retirement account then you will be able to transfer existing external positions into your iFlip account. For now, this method of transfer is restricted to retirement accounts only. However, in the future we do plan offer this service to other account types.
When transferring open positions, please be aware of the following:
- Your broker must be a US-based ACAT participating firm in order to initiate this type of transfer
- Positions that are transferred into your iFlip account will not be managed by the iFlip algorithms. The account owner will continue to be responsible for determining when to sell these open positions.
- iFlip's clearing broker (Velox), does not accept the transfer of penny stock, bonds or mutual funds. If you currently own these types of securities, then please liquidate before the transfer request is placed. Otherwise, this will result in a delay of the transfer process.
Costs associated with transferring existing positions:
*All transfer fees above are subject to change without notice from iFlip's broker dealer.
*The contra bank may charge fees for fund transfers based on their own policy. Please contact your bank for more information.