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Written by Taylor Danielle on October 2, 2023
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How To Transfer From M1 Finance To Interactive Brokers 2023

Migrating your investment portfolio from one brokerage platform to another can seem like a daunting task, but it doesn't have to be.

If you're looking to transfer your assets from M1 Finance to Interactive Brokers, this article will guide you through the process step by step.

What is Interactive Brokers?

Interactive Brokers is a popular brokerage firm known for its advanced trading tools, a wide range of investment products, and competitive fees.

Whether you're an experienced trader or a novice investor, Interactive Brokers offers a platform with many options.

Learn more about Interactive Brokers here!

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Transferring Assets without Selling

One of the key advantages of transferring your assets is that you can do so without selling your existing stocks or ETFs.

This means you can seamlessly transition your investment portfolio while preserving your current positions and avoiding any tax implications associated with selling.

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, which typically includes providing personal information.

2. Access the Transfer & Pay Section

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

In the top menu, hover your cursor over "Transfer & Pay."

A dropdown menu will appear, and from this menu, select "Transfer Positions."

3. Select M1 Finance as Your Broker

On the "Transfer Positions" page, you'll find a list of popular brokers.

Scroll through this list and select "M1 Finance" as your current brokerage platform.

Interactive Brokers Transfer

If you don't see M1 Finance listed, you can use the dropdown option to access more broker options.

4. Enter Your M1 Finance Account Number

To initiate the transfer, you'll need to provide your M1 Finance account number.

You can typically find this number on your account statements or within your M1 Finance account dashboard.

5. Review Transfer Fees

It's essential to be aware of any fees associated with transferring your assets.

M1 Finance charges a $100 account transfer (ACAT) fee for all outgoing transfers, including partial and full account transfers.

Take this fee into consideration when planning your transfer.

6. Complete the Transfer Request

After entering your account number and confirming the transfer fee, follow the on-screen instructions to complete your transfer request.

You may be required to verify your identity and provide additional details to ensure a smooth transfer process.

7. Monitor the Transfer Progress

Once you've initiated the transfer, Interactive Brokers will begin the process of moving your assets from M1 Finance.

You can monitor the progress of your transfer through your Interactive Brokers account.

Conclusion

Transferring your assets from M1 Finance to Interactive Brokers can be simple.

By following the step-by-step guide outlined above, you can navigate the transfer process seamlessly.

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
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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.
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Fundrise
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.
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