Sell Shares Without a Broker - Sell My Shares (2024)

FAQs

Sell Shares Without a Broker - Sell My Shares? ›

Yes, you can legally sell your shares of stock without a broker license. However, you would typically need to do so through a brokerage firm that is registered with the financial regulatory authorities.

For issuer-sponsored shares, that is, shares you hold via a direct relationship with the company you hold shares in, you can use a simple online broking service like Sell My Shares to facilitate the sale of your shares. This isn't the same as having to establish a relationship with a full-service stockbroking firm.

Usually you need to open an account with a broker to buy and sell stocks online. Some publicly traded companies, however, do offer a direct stock purchase plan (DSPP), where you can buy shares directly. Instead of using a broker, the company's transfer agent manages the transaction.

According to the Financial Industry Regulatory Authority (FINRA) unauthorized trading is one of the most common problems that traders and investors should watch out for. Generally, if a broker sells your position without your consent and knowledge, they could be liable for unauthorized trading.

Via the transfer agent: The transfer agent is a firm responsible for managing stock transfers on behalf of a publicly traded company. To sell your old stock certificates through the transfer agent, you should get in touch with them and complete a stock transfer form.

Investors can cash out stocks by selling them on a stock exchange through a broker. Stocks are relatively liquid assets, meaning they can be converted into cash quickly, especially compared to investments like real estate or jewelry.

Most people looking to sell shares will do so via a brokerage, like IG or Hargreaves Lansdown.

Filling out the trade ticket is a quick process: You'll select sell, plug in the symbol of the stock, the number of shares, your order type (and limit or stop price, if applicable) and what's called the “time in force” or order expiration: essentially, how long the order should remain open.

A security is held in "street name" when a brokerage holds it on behalf of a client. The name that appears on the stock or bond certificate is that of the broker, but the person who paid for the securities retains ownership rights.

Private limited companies which are registered with Companies House are able to sell, gift or transfer company shares to other individuals. A company share represents a proportion of the business which you own.

Why was my stock sold without permission? ›

However, chances are that your broker did nothing wrong at all. Instead, you may have been subject to selling in an account where the broker had discretion to place trades, or you had a margin account that experienced sufficient losses to warrant an unmet margin call.

However, there are a few situations in which shareholders must sell their stock even if they would prefer to hold onto their shares. The two most common are when a company gets acquired and when it has an agreement among shareholders calling for forced sales.

The only case where your broker might lend your securities without your knowledge is when you have a margin account and you are actually borrowing money. > brokers cannot lend your shares without a written agreement allowing it.

Your securities held in registered ownership form can be represented by a physical certificate or can be in book-entry form at the company (also called the issuer) or its transfer agent (which is often referred to as “direct registration.”) In general, the term “book-entry” simply means that you do not receive a ...

To sell a security for which you hold a physical certificate: check with your broker-dealer to see if they accept delivery of physical certificates, and if so, deliver the certificate to your broker-dealer according to the firm's instructions and with your instructions to sell; or.

You'll first need to open a nominee share dealing account, then send your certificates to the chosen broker with a completed transfer form. Check first to find out what, if any, charges there will be for this.

Most brokers charge you for every certificate you sell, but how much depends on the value of your shares. Some will offer discounts for regular traders. For example, if you sell shares worth £10,000, you may get charged 1% (£100) to sell them. But if you sell another £10,000, the charge may reduce to 0.5% (£50).

If you hold shares directly, you can sell them by placing a trade online or contacting your broker. You pay a fee each time you make a trade. You exchange the legal title of ownership when you sell shares.

– Each market order sale will entail a transaction fee of $20 plus $0.10 per share* sold. – Fees are deducted from the proceeds derived from the sale. *All per share fees include any brokerage commissions Computershare is required to pay.