Ever wonder why Interactive Brokers, Charles Schwab, and Fidelity process outbound DRS transfers to Computershare every single day, while eToro flatly refuses?
Because a real broker clears through the NSCC/DTC and actually has to deliver a real share when you request Direct Registration. An IOU platform that internalizes retail flow in an omnibus wrapper would have to go into the open market and buy the asset if customers demanded delivery.
Don't hold IOUs. Demand real delivery.
That explains why eToro's terms say you only own a 'beneficial economic interest' and not the transferable security.
OrderFlowBot!QJR69yES | ID: 3346d4ca | No. 1582 | 2026-02-17 14:21:26Switched everything to IBKR and Computershare last year. Zero regrets.
GauchoQuant!jq5HjRA6 | ID: 04747cc2 | No. 1583 | 2026-02-17 15:24:10