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Written by Taylor Danielle on October 10, 2023
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How To Transfer From Merrill Edge To Interactive Brokers 2023

If you're considering transferring from Merrill Edge to Interactive Brokers, you're in the right place.

In this article, we will guide you through the process step by step, ensuring a smooth transition without the need to sell your stocks or ETFs.

What is Interactive Brokers?

Interactive Brokers is a well-established and reputable brokerage firm known for its low-cost trading and extensive range of investment products.

Whether you're a novice investor or a seasoned trader, Interactive Brokers offers a robust platform with access to stocks, options, futures, forex, and more.

Learn more about Interactive Brokers here!

Here's a step-by-step guide to transferring your assets from Merrill Edge to Interactive Brokers.

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1. Open an Interactive Brokers Account

If you don't already have an Interactive Brokers account, you'll need to open one.

Visit the Interactive Brokers website and follow their account registration process. Make sure to provide accurate information and complete all necessary forms.

2. Access the Transfer & Pay Section

Once your Interactive Brokers account is set up and ready, log in to your account.

From the top menu, hover over "Transfer & Pay."

3. Choose Transfer Positions

In the dropdown menu that appears under "Transfer & Pay," select "Transfer Positions."

This is the option you'll use to initiate the transfer of your assets from Merrill Edge.

4. Select Your Current Broker

In the next window, you'll see a list of popular brokers.

Interactive Brokers Transfer

If you don't find Merrill Edge listed, use the drop-down menu to access more options.

5. Input Your Account Number

You'll be prompted to input your account number from Merrill Edge, which can typically be found on your account statements or online account portal.

Ensure that the information is accurate to facilitate a seamless transfer.

6. Pay Attention to Transfer Fees

It's important to be aware that Merrill Edge charges a $49.95 fee for a full transfer-out of your account to another broker.

Make sure you have sufficient funds or assets in your Merrill Edge account to cover this fee.

7. Review and Confirm

Before finalizing the transfer, review all the details you've provided to ensure accuracy.

Double-check your account numbers and contact information.

8. Initiate the Transfer

Once you're confident that all the information is correct, initiate the transfer.

Interactive Brokers will handle the process from here and keep you updated on the status of the transfer.

Article written by Taylor Danielle

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