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Written by Taylor Danielle on October 7, 2023
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How To Transfer From TD Ameritrade To Interactive Brokers 2023

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.

What is 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.

Learn more about Interactive Brokers here!

Limited Time: Robinhood 1% Transfer Bonus

If you transfer an existing brokerage account to Robinhood through January 31st 2024, you can get an Unlimited 1% Transfer Bonus.

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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.

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1. Open an Interactive Brokers Account

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.

2. Access the Transfer & Pay Menu

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

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

3. Select "Transfer Positions"

In the dropdown menu that appears, choose "Transfer Positions."

This is the option you'll use to initiate the asset transfer from TD Ameritrade.

4. Choose TD Ameritrade as Your Broker

In the Transfer Positions section, you'll find a list of popular brokers.

Look for "TD Ameritrade" in the list.

Interactive Brokers Transfer

If you don't see it, don't worry; you can use the dropdown menu to access a more extensive list of brokers.

5. Enter Your TD Ameritrade Account Number

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.

6. Review Fees

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).

7. Confirm the Transfer

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.

8. Monitor the Transfer

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.

Conclusion

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.

Article written by Taylor Danielle

Read more

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