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How do I transfer my portfolio to Interactive Brokers?

How do I transfer my portfolio to Interactive Brokers?

Why would anyone transfer their portfolio from one broker to another once they got used to a service? Well, from time to time, all brokers change their services, conditions, product range and pricing. So as time passes, it's possible that you'll find an alternative broker that is better suited to your trading patterns or investment plans than the one you're currently signed up with.

Let's see a scenario where you transfer your portfolio from any random broker to Interactive Brokers. This assumes that you already have an account with IB - if not, click the link below to open your IB account.

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For a successful move, you have to request a transfer at both the sending and the receiving end.

How to request a transfer from the sending broker?

The exact process can be different from broker to broker, but generally, this is how it's done:

First, request a transfer at the sending broker by filling out a request form and then submitting it to the sending broker's customer service.

The request form usually requires you to fill in information such as:

  • Which account you'd like to transfer securities from
  • The details of the receiving broker (name, address, contact details, and your account's details at the receiving broker)
  • The list of securities you intend to transfer
  • And the number of securities you'd like to transfer

 

Usually, such a form can be downloaded from the sending broker's site or account dashboard. It should either be an online form, or a blank fillable PDF. In either case, you need to print it, sign it by yourself and scan it so that you can send your request to the sending broker's customer service.

How to request a transfer at Interactive Brokers?

On your 'Client Portal', go to 'Transfer & Pay' >> 'Transfer Positions'. On the next page, you'll see three boxes. Choose 'Incoming'. Enter the financial information of the sending institution, then choose the type and quantity of the assets you'd like to transfer to Interactive Brokers. Click 'Save and Finish' and download the form that is automatically generated in the next window. From here on, Interactive Brokers are aware and ready to receive the transfer request from the sending broker. To be 100% sure, it is recommended to send IBKR's automatically generated form to the sending institution as well.

 

How do I transfer my portfolio to Interactive Brokers?
Step by step: How to transfer my portfolio to Interactive Brokers?

If you choose Interactive Brokers as your receiving broker for your portfolio transfer, you have to signal your request to Interactive Brokers.

Here's how:

  • Go to the Interactive Brokers website
  • Click the red ‘Log in’ button in the top right corner
  • Go to the ‘Client Portal Login’, enter your name and password, then clear the two-factor authentication process
  • Look for 'Transfer & Pay' on the tap menu bar, then click 'Transfer Positions'

How do I transfer my portfolio to Interactive Brokers? - Transfer Positions

  • On the next page, click on 'Incoming - Transfer Assets into your IBKR account'. This is where you signal your request to the receiving end.

How do I transfer my portfolio to Interactive Brokers? - Incoming transfers

  • Enter the details of the financial institution, i.e. the sending broker. The required info is the same as you detailed in the outgoing transfer request form on the sending broker's side. Here, you need to enter the name of the sending broker, country of origin, your account number, name of the account holder, and the account type.

How do I transfer my portfolio to Interactive Brokers? - Sending broker details

  • Next, choose the assets you would like to add to your Interactive Brokers account. Here you can detail the elements of your portfolio awaiting transfer at the sending institution. Don't worry if an asset you are transferring is traded on a different exchange than what is available on IBKR. If the asset is the same, it will be transferred to the most relevant exchange for you.

How do I transfer my portfolio to Interactive Brokers? - Asset details

  • Click 'Save and Finish'
  • Download the automatically generated IBKR form about your transfer request
  • Send this form to the sending institution as well

Are there any fees involved?

If Interactive Brokers is the receiving party, no. However, the sending institution might charge you a fee for the transfer; usually up to or around $10/€10 per position.

Interactive Brokers further reading:

Author of this article

Bence András Rózsa

Author of this article

Bence András Rózsa is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry specializing in stock- and CFD/forex brokers, crypto providers and robo-advisors.

Bence András Rózsa

Broker Analyst

Bence András Rózsa is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry specializing in stock- and CFD/forex brokers, crypto providers and robo-advisors.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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