How To Transfer From E*Trade To Interactive Brokers 2023

Interactive Brokers is a popular online brokerage known for its robust trading platform and competitive fees.

If you're currently using E*Trade but wish to transfer your assets to Interactive Brokers without selling your stocks or ETFs, this article will guide you through the process.

What is Interactive Brokers?

Interactive Brokers (IBKR) is a brokerage platform that caters to both novice and experienced investors.

It offers access to a plethora of financial markets worldwide, low-cost trading, and a wealth of research tools to help you make informed investment decisions.

Whether you're interested in stocks, options, futures, forex, or fixed income securities, Interactive Brokers provides a comprehensive suite of trading options.

Learn more about Interactive Brokers here!

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Step 1: Open an Interactive Brokers Account

If you don't already have an Interactive Brokers account, the first step is to open one.

Visit the Interactive Brokers website and follow their account-opening process.

Step 2: Navigate to Transfer Positions

Once your Interactive Brokers account is set up, log in to your account.

From the top menu, hover over "Transfer & Pay," and select "Transfer Positions" from the dropdown menu.

Step 3: Select E*Trade as the Broker

In the "Transfer Positions" section, you'll find a list of popular brokers.

Locate and select E*Trade from the list.

If you don't see E*Trade listed, use the dropdown menu to access more broker options.

Step 4: Provide Your E*Trade Account Number

To initiate the transfer, you'll need to input your E*Trade account number.

You can typically find this information on your E*Trade account statements or within your E*Trade account dashboard.

Step 5: Review and Confirm

Before proceeding, review all the details you've entered to ensure accuracy.

Double-check your E*Trade account number and any other relevant information.

Step 6: Pay Transfer Fees

Keep in mind that E*Trade charges an Account Transfer (ACAT) fee.

This fee is $75 for a full account transfer and $25 for a partial account transfer.

Be prepared to cover these fees as part of the transfer process.

Step 7: Complete the Transfer

Once you've verified all the information and paid the transfer fees, Interactive Brokers will initiate the transfer process on your behalf.

The time it takes to complete the transfer may vary, but you can monitor the progress through your Interactive Brokers account.

Conclusion

Transferring your assets from E*Trade to Interactive Brokers can be an easy process.

By following the right steps, you can transfer your assets seamlessly without the need to sell your stocks or ETFs.