ACAT (Automated Customer Account Transfer) is a system that allows the transfer of assets (stocks/cash in client accounts) from one broker to another. Currently, Alpaca can only perform transfers between US brokers.
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There are two types of ACAT transfers we typically handle:
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1. ACAT In: This means clients transfer from another broker to Alpaca (our clearing broker). The fee depends on the originating broker. The process is: the client submits a request with Alpaca, Alpaca sends the request, and the client's broker completes the transfer to Alpaca.
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2. ACAT Out: This means clients transfer from Alpaca to another broker. Alpaca charges a fee of USD 100. The process is: the client submits a request with their new broker, the new broker sends the request, and Alpaca completes the transfer to the new broker.