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

FAQs

Can I sell my shares without a broker? ›

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.

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.

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.

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

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.

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.

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.

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.

The issuance of new shares or the transfer of existing shares must be approved by the shareholders of the company.

You own the money and investments in your brokerage account, and you can sell investments at any time. The broker holds your account and acts as a middleman between you and the investments you want to buy.

How much does a stock broker cost? ›

The standard commission for full-service brokers today is between 1% to 2% of a client's managed assets. For example, Tim wants to purchase 100 shares of Company A at $40 per share.

It is cheaper and faster to sell electronically held shares, so most people prefer to do it this way these days. There's less paperwork to transfer the shares, and there are no delays due to the postal service.

How long does it take to sell shares? Once your sell order goes through and is completed, there may still be a settlement period before the resultant money lands in your account. Usually this takes two to three days. Be aware that withdrawing this money completely, say to your bank account, can take another few days.

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.

– 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.

KEVIN: A market order is your go-to when you want to get out of a trade as quickly as possible during standard market hours. Generally, they execute immediately, but remember, the trade-off here is price. You will receive the current price, which could be different from the last bid you saw.

The stock you are trying to sell is a trade to trade (T2T) stock. You can sell it only after it has been delivered to your demat account. If you have pledged your shares (to get extra margin against your shares), then you will not be able to sell these shares until they are unpledged.