Transferring your assets from one brokerage platform to another can seem like a daunting task, but it doesn't have to be.
If you're considering moving your investments from Webull to Interactive Brokers, you're in the right place.
In this article, we'll guide you through the process of making a seamless transfer while avoiding the need to sell your stocks or ETFs.
Interactive Brokers (IBKR) is a well-established online brokerage that provides traders and investors with a comprehensive suite of tools and services.
Known for its low-cost trading, access to global markets, and powerful trading platforms, IBKR is a popular choice for both novice and experienced investors.
Here's a step-by-step guide to transferring your assets from Webull to Interactive Brokers.
If you haven't already, the first step is to open an account with Interactive Brokers.
Visit their website and follow the instructions to set up your new account.
Be prepared to provide personal information and financial details for verification.
Once your Interactive Brokers account is set up, log in to your IBKR account.
From the top menu, hover your cursor over "Transfer & Pay."
From the dropdown menu, choose the "Transfer Positions" option.
This will initiate the process of transferring your assets from Webull to Interactive Brokers.
In the "Transfer Positions" section, you'll find a list of popular brokers.
If Webull is not listed, use the dropdown menu to search for it.
Select "Webull" as the broker you're transferring from.
You'll need to provide your Webull account number to initiate the transfer.
This information can typically be found on your Webull account statements or within your Webull account settings.
It's important to note that Webull charges a $75 fee for an outgoing Automated Account Transfer Service (ACATS) transfer.
This fee is assessed by Apex, Webull's clearing agent. Be prepared to cover this cost as part of the transfer process.
Review all the details you've entered to ensure accuracy. Once you're satisfied, confirm the transfer.
The transfer process may take some time, depending on various factors such as the volume of assets being transferred and the respective broker's processing times.
Interactive Brokers will keep you updated on the progress of your transfer.
After the transfer is complete, monitor your Interactive Brokers account to ensure that your assets have been successfully moved from Webull.
Transferring your assets from Webull to Interactive Brokers can be a straightforward process.