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Written by Taylor Danielle on October 8, 2023
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How To Transfer From Fidelity To Interactive Brokers 2023

Transferring your investments from one brokerage to another can be a daunting task, especially if you're worried about the tax implications of selling your stocks and ETFs.

Fortunately, brokerage account transfers allow you to move your assets without liquidating your holdings.

In this article, we'll guide you through the process of transferring from Fidelity to Interactive Brokers.

What is Interactive Brokers?

Interactive Brokers (IBKR) is a well-respected brokerage firm known for its low-cost trading and comprehensive platform.

With a wide range of investment options, powerful trading tools, and global market access, it's a popular choice for both active traders and long-term investors.

Learn more about Interactive Brokers here!

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Step 1: Open an Interactive Brokers Account

Before you can start the transfer process, you'll need to open an account with Interactive Brokers.

Visit their website and follow the account opening procedure.

You'll need to provide personal information, financial details, and complete the necessary forms.

Once your account is approved, you'll be ready to proceed with the transfer.

Step 2: Access the Transfer & Pay Menu

Once you've successfully opened an Interactive Brokers account and logged in, hover over the "Transfer & Pay" option in the top menu.

This menu provides various financial transaction options, including transferring positions from another brokerage.

Step 3: Choose "Transfer Positions"

From the "Transfer & Pay" menu, select "Transfer Positions."

This will initiate the process of moving your assets from Fidelity to Interactive Brokers.

Step 4: Select Fidelity as Your Current Broker

In the "Transfer Positions" section, you will see a list of popular brokers.

Locate and select "Fidelity" from the list.

Interactive Brokers Transfer

If you don't see your current broker listed, you can use the dropdown menu to access more brokerage options.

Step 5: Input Your Fidelity Account Number

To initiate the transfer, you'll need to provide your Fidelity account number.

You can find this information on your Fidelity account statements.

Ensure that the account number you input is accurate, as any errors may delay the transfer process.

Step 6: Confirm Transfer Details

Review all the transfer details to ensure accuracy.

Double-check your Fidelity account number and other relevant information.

Once you're confident that everything is correct, you can proceed with the transfer request.

Step 7: Complete the Transfer

Interactive Brokers typically handles the entire transfer process, including contacting Fidelity to initiate the transfer.

You may need to provide additional documentation or information as requested by Interactive Brokers or Fidelity during this process.

No Fees for Automated Account Transfer Service (ACATS)

One important point to note is that Fidelity Investments does not charge a fee for Automated Account Transfer Service (ACATS).

This includes both full and partial account transfers, as well as transfers involving IRA accounts.

This makes the transfer process cost-effective for investors looking to make the switch to Interactive Brokers - or a different brokerage account.

Conclusion

Transferring your assets from Fidelity to Interactive Brokers without selling your stocks and ETFs is a straightforward process.

Article written by Taylor Danielle

Read more

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