How To Transfer From Interactive Brokers To Fidelity 2023

Transferring your investment assets from Interactive Brokers (IBKR) to Fidelity is a straightforward process.

Whether you wish to transfer all or part of an investment account, specific investments, retirement accounts, or even liquidated annuities and CDs, Fidelity provides a seamless transition.

In this article, we will walk you through the steps for a smooth transfer.

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1. Initiate the Transfer Request

The first step in transferring your assets from Interactive Brokers to Fidelity is to submit a transfer request.

The process of doing so is quick and convenient, often taking no more than 5-7 minutes.

Here's how you can get started.

Step 1: Create a Fidelity Account

If you don't already have an account with Fidelity, begin by setting up an account on their platform.

Step 2: Gather Necessary Information

You'll need to have your account information from Interactive Brokers on hand.

This includes your account number as well as account type.

Step 3: Submit the Transfer Request

Within your Fidelity account, find the option to initiate a transfer. This is usually accessible through the online interface.

Follow the provided instructions to fill out the transfer request form.

2. Fidelity Contacts Your Current Firm

Once you've submitted your transfer request, Fidelity will take care of the rest.

They will reach out to your current firm, Interactive Brokers, to request the transfer of your account assets.

This step typically happens behind the scenes, and you won't need to interact directly with Interactive Brokers.

3. Current Firm Processes the Request

Interactive Brokers will process Fidelity's request to transfer your assets.

The timeframe for this step can vary depending on your current firm's rules and the type of accounts and investments you're transferring.

However, this process generally takes a few business days, usually within the 3-5 business day range.

4. Fidelity Deposits Your Assets

Once Interactive Brokers has completed the processing of the transfer request, they will send your account assets to Fidelity.

Fidelity, in turn, will deposit these assets into your selected account, making them accessible for your use and management.

Important Considerations

• Online Convenience: Most of the transfer process can be handled online, making it a convenient option for those who prefer digital interactions.
• No Transfer Fees: Interactive Brokers does not charge a fee for incoming or outgoing ACATS transfers, making the transition cost-effective for you.

Conclusion

Transferring assets from Interactive Brokers to Fidelity is a hassle-free process.

The ability to transfer all or part of your investment accounts, retirement accounts, or other assets in a cost-effective and timely manner makes it a viable option for many.