Investing Simple Logo
Get 1 Free Stock Worth Up To $200 From Robinhood!
Sign up with Robinhood, deposit any amount and get 1 Free Stock. It takes less than 3 minutes to sign up and claim your Free Stock Bonus.
Earn 5.00% APY with M1 High-Yield Savings Account
M1 Plus members can earn 5.00% APY on their deposits with no minimum balance required.
Webull free stock promotion
Get Up To 5 Free Stocks From Webull
Open a new Webull brokerage account today and deposit any amount of money to receive 5 free stocks. Webull offers commission free stock, ETF, option and crypto trading.
Written by Taylor Danielle on November 9, 2023
FTC Disclosure: Some of the links on this site are affiliate links. Read our full disclaimer here.

How To Transfer From Interactive Brokers To M1 Finance 2023

Are you looking to make the switch from Interactive Brokers to M1 Finance?

M1 Finance has successfully facilitated the transfer of over $2 billion in assets from other brokerage platforms to their platform.

Whether you're moving your full brokerage account, a partial transfer, or even a retirement account, this guide will walk you through the steps.

It's important to note that Interactive Brokers (IBKR) does not charge any fees for account transfers.

M1 Finance doesn't either, so this will be a cost free transition!

Best Free Stock Promotions

Robinhood Logo1 Free Fractional Share Worth $5 To $200Claim Bonus
Webull LogoEarn Up To 70 Free Fractional SharesClaim Bonus
Moomoo Logo5 Free Stocks When You Deposit $100+Claim Bonus
Acorns Logo$20 Bonus When You Invest $5+Claim Bonus

1. Open An Account With M1 Finance

The first step in the transfer process is to create an M1 Finance account.

Keep in mind, the account type you are looking to transfer needs to match the account type you open with M1 Finance.

2. Gather Information From Interactive Brokers

interactive broker logo

Look at your most recent IBKR statement and organize the necessary information, which includes your account number and account type. 

M1 will need these details to process the transfer. In addition, they may ask you to upload a copy of the statement, so be sure to download a copy. 

3. Account Type Compatibility

Before initiating the transfer process, ensure that you have an open account with M1 Finance that matches the specific account type you're transferring.

For instance, if you're transferring a Roth IRA, it must be directed to an M1 Roth IRA Account.

4. Access "Move Money" Tab

Once you've confirmed the compatibility, navigate to the Home tab within your M1 Finance account.

m1 finance direct deposit

Look for the "Move Money" option and click on it to proceed with the transfer process.

5. Select "Transfer From Another Brokerage"

Within the "Move Money" section, opt for the "Account Transfer" feature, which serves as the starting point for initiating the transfer process.

6. Choose Transfer Type

To kick off a full brokerage account transfer, select the appropriate option based on your specific needs and account type.

m1 finance transfer account type

7. Specify Originating Brokerage

Choose the brokerage from which you're transferring your account - which is Interactive Brokers in this case.

transfer brokerage account to m1

8. Provide Account Details

Enter the account number of the brokerage account you intend to transfer into your M1 Finance account.

m1 finance enter account number

Ensuring the accuracy of this information is crucial for a successful and smooth transfer process.

9. Select Receiving M1 Invest Account

Choose the specific M1 Invest Account that will receive the transferred funds.

transfer account to m1

10. Confirm Your Transfer

After reviewing the details, click the "Continue" button to confirm and initiate the transfer process.

You'll receive a confirmation email shortly after submission.

Article written by Taylor Danielle

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2023 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™

Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram