If you're considering a move from TD Ameritrade to Interactive Brokers, you're in luck.
Interactive Brokers is a popular choice for traders and investors due to its comprehensive trading tools.
The good news is that you can make this transition without the hassle of selling your stocks or ETFs and converting them to cash.
In this article, we'll guide you through the process of transferring your assets from TD Ameritrade to Interactive Brokers.
Interactive Brokers is a well-established brokerage firm known for its low-cost trading and extensive range of investment options.
It offers a wide array of financial products, including stocks, options, futures, forex, and more.
Additionally, Interactive Brokers provides a powerful trading platform that appeals to both beginners and seasoned investors.
If you transfer an existing brokerage account to Robinhood through January 31st 2024, you can get an Unlimited 1% Transfer Bonus.
For example, if you transferred a brokerage account worth $50,000 - that would be a bonus of $500.
In addition, Robinhood offers a free stock for new users as well as a 1% IRA match for retirement accounts.
The first step in transferring your assets is to open an account with Interactive Brokers if you don't already have one.
You can visit their website and follow the easy account opening process. Ensure you provide all necessary information and complete any required verification steps.
Once you have your Interactive Brokers account set up, log in to your account.
From the top menu, hover your cursor over "Transfer & Pay."
In the dropdown menu that appears, choose "Transfer Positions."
This is the option you'll use to initiate the asset transfer from TD Ameritrade.
In the Transfer Positions section, you'll find a list of popular brokers.
Look for "TD Ameritrade" in the list.
If you don't see it, don't worry; you can use the dropdown menu to access a more extensive list of brokers.
You'll be prompted to input your TD Ameritrade account number.
You can find this number on your TD Ameritrade account statements.
Make sure to double-check the accuracy of this information, as it is crucial for the smooth transfer of your assets.
It's important to be aware of the fees associated with the transfer.
TD Ameritrade charges a $75 fee for an outgoing Automated Account Transfer Service (ACATS).
Before finalizing the transfer, review all the information you've entered.
Ensure that your TD Ameritrade account number is correct, and you understand the associated fees.
After initiating the transfer, it may take a few days for the assets to move from TD Ameritrade to Interactive Brokers.
You can monitor the progress of the transfer through your Interactive Brokers account.
Transferring your assets from TD Ameritrade to Interactive Brokers is a straightforward process that allows you to switch brokerage platforms without liquidating your investments.
By following the steps outlined in this guide, you can make the transition smoothly and efficiently.