Investing newbie: Buy shares through one exchange and transfer to another?
Hi, I am a total investing newbie. I'm re-reading Invest Like a Pro for the 2nd time, the first time was in 2019... and we all know what 2020 was like.
I'm not based in the US, so my access to Index Funds and ETFs is limited. However, I see that I may be able to trade a little of the crypto I have for shares in ETFs on eToro. If I do that, can I then transfer these shares to something more mainstream like ETrade? Or are the investment purchases I make through one broker/exchange fixed to that broker/exchange?
Richard B said:
I'm re-reading Invest Like a Pro for the 2nd time, the first time was in 2019... and we all know what 2020 was like.
You mean good? You would have made a ton of money if you had bought when the market dipped during the pandemic. But guess what. Had you bought in January, you still would have made money as the market ended at an all-time high at the end of 2020.
I was more thinking "uncertain", especially for an Investing newbie.
I was able to find the answer to my question: Automated Customer Account Transfer Service (ACATS) Definition (investopedia.com). This allows securities purchased in one place to be transferred to another.
This is not available on eToro however.