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Written by Ryan Scribner on November 9, 2023
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How To Transfer From Interactive Brokers To M1 Finance 2024

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!

Check out my video on how to transfer your brokerage account below, let's dive in!

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Robinhood IRA Boost

Here's what you need to know:

  • Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
  • All Robinhood investors will get a 1% Match on what they Contribute or Transfer
  • Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

Best Free Stock Promotions

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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 Ryan Scribner
Ryan Scribner is the Co-Founder of Investing Simple and author of the personal finance book ‘From Side Hustle To Main Hustle To Millionaire’ (available on Amazon and at Barnes & Noble). He is recognized as a Top 100 Money Expert by GoBankingRates. Ryan Scribner runs a successful YouTube channel focused on money and investing, which he started in 2016. Scribner was exposed to the finance world early on with a dad who is a financial advisor. Before he started his YouTube channel, he was working and making a surplus of money which he began investing on his own. Then he started to document it on his YouTube channel, before launching the Investing Simple blog in 2018. Ryan Scribner has used his own experiences with money to show others what he’s done to be successful so that they can learn from it. He has been featured in The Wall Street Journal in a publication on The Financial Gurus Millenials Listen To. In addition, Ryan Scribner has been featured in MarketWatch, Business Insider and Forbes - where he was recognized as the #1 Must Watch YouTube Channel For Making Money. In recent years, Ryan has become an angel investor across numerous startups. This includes fintech platforms such as Yotta, Mesh Connect and Commonstock - recently acquired by Yahoo Finance. Beyond that, Ryan has equity investments in a veteran-led cybersecurity company Netrise, as well as Beacons - an all-in-one builder tool for creators. Today, Scribner lives in South Florida - teaching others how to build wealth and “semi-retire,” without sacrificing your life to a 9-to-5.

Read more

Power Your Investing

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

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