Intro
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How to withdraw money from Interactive Brokers and how long does it take?
In this article, you'll see how easy it is to withdraw money from Interactive Brokers. It takes 5 minutes and is fully online. The withdrawal time takes around 2 business days max with every first withdrawal of the month being free.
THE ESSENCE:
The process is fully online, and takes about 5-10 minutes.
In our experience, withdrawals arrived next day or earlier, but it depends on the withdrawal method.
The first withdrawal of the month is free, then every subsequent withdrawals have a fee.
EEA residents can only use bank transfer withdrawals and SEPA for EUR only, while US residents have ACH, check payments (for a fee), and other options. Non-EU and non-US clients can only use wire transfers.
This is how you initiate the process: log into your Client Portal, select ‘Transfer & Pay’, then ‘Transfer Funds’ and follow the steps to withdraw money from Interactive Brokers .
| Withdrawal method | Available for residents in | Withdrawal time | Fee after first withdrawal per month |
|---|---|---|---|
| Bank Wire | All | Same, or the next day | Depends on the withdrawal currency* |
| Automatic Clearing House (ACH) | US | Same day at 18:00 ET if request was approved until 16:00 ET | $1 |
| Check | US | Next business day | $4 |
| Single Euro Payment Area (SEPA) | EU | Same day if request was approved until 12:00 CET | €1 |
| Canadian Electronic Funds Transfer (EFT) | CAN | Next business day | $1 / 2 CAD |
*Withdrawal fees are not only based on the method, but the chosen currency of your withdrawal too. See this table below, for more details.
How do I withdraw money from Interactive Brokers?
How do I withdraw money from my Interactive Brokers account?
It's easy to withdraw your funds from Interactive Brokers, just go to your 'Client Portal' and look for 'Make a Withdrawal within 'Transfer & Pay'.
Here are the steps on how to withdraw funds on Interactive Brokers:
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First, log into the Client Portal then click on 'Transfer & Pay' in the middle under the search bar and 'Transfer funds'
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Click the box in the middle, titled ‘Make a Withdrawal’
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At the top left, select the currency of your withdrawal, then choose the desired withdrawal method. You’ll see the time required for a withdrawal and the fees (if there are any) for each transaction
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Fill out the required information about your receiving institution, and where you want the funds to arrive – you can also save it for later
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Submit your withdrawal request
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Now, all done! You can see the status of your withdrawal request in ‘Transfers & Pay’, ‘Transaction Status & History'
How do I withdraw money from Interactive Brokers?
Does IBKR charge a withdrawal fee?
The first withdrawal each month with Interactive Brokers is free of charge, while subsequent withdrawals have a fee.
The fee depends on the currency and the method you use for withdrawal.
| Withdrawal currency | The fee of a wire transfer in the withdrawal currency | The fee of a BACS/GIRO/ACH/EFT/SEPA transfer in the withdrawal currency |
|---|---|---|
| USD | 10 | 1 |
| EUR | 8 | 1 |
| GBP | 7 |
1 |
| CAD | 12 | 2 |
| CNH | 60 | 7 |
| HKD | 95 | 8 |
| NZD, SGD | 15 | 1 |
| AUD | 15 | N/A |
| CHF | 11 | N/A |
| CZK | 300 | N/A |
| DKK | 30 | N/A |
| HUF | 6,000 | N/A |
| ILS | 30 | N/A |
| JPY | 1,600 | N/A |
| NOK, SEK | 60 | N/A |
| MXN | 100 | N/A |
| PLN | 40 | N/A |
| RUB | 330 | N/A |
| ZAR | 200 | N/A |
How do I withdraw money from Interactive Brokers?
Can I withdraw USD from IBKR?
Yes, you can choose USD as your currency of withdrawal for all withdrawal methods.
Most Interactive Broker users can only withdraw:
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In their account’s base currency
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Their home country’s currency
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And some common currencies like USD, EUR, HKD, AUD, GBP, CHF, CAD, JPY, SGD.
The available currencies to withdraw change based on your region of residence. We’ve opened an account in EEA, and the currency list for us is GBP, CZK, DKK, EUR, HUF, NOK, PLN, SEK, CHF and USD.
How do I withdraw money from Interactive Brokers?
How much can I withdraw from Interactive Brokers?
The maximum withdrawal amount per day depends on the security feature you enabled on your account. If you haven't enabled two-factor authentication for example, the maximum withdrawal amount per day is $50,000.
Account holders without a security device are limited to a maximum withdrawal of 50,000 USD per day and a maximum withdrawal of 100,000 USD in five business days.
What does this mean? If you use security features, like 2FA logins, mobile authentication or alternative solutions like physical security devices, you'd be able to withdraw larger amounts.
Here in this handy chart, we collected all the available security options and their corresponding withdrawal amounts.
| Security feature | Maximum withdrawal per day | Maximum withdrawal in five business days |
|---|---|---|
| None | $50,000 | $100,000 |
| SMS | $200,000 | $600,000 |
| IBKR Mobile Authentication (IB Key) | $200,000 | $600,000 |
| Digital Security Card | Unlimited | Unlimited |
Interactive Brokers: further reading
- Interactive Brokers review
- How to trade after hours on Interactive Brokers
- How to buy ETF on Interactive Brokers
- Why is Interactive brokers so cheap?
- Can you buy Bitcoin on Interactive Brokers?
- How to use Interactive Brokers for Paper Trading
- How to convert currency on Interactive Brokers?
- How to change trading permissions on Interactive Brokers?
- What is the cost of buying US stocks at Interactive Brokers?
- How to download Interactive Brokers' TWS?
- Interactive Brokers fees explained
- Interactive Brokers Account Opening
- Is Interactive Brokers good for beginners?
- Is Interactive Brokers free?
- Can you trade options at Interactive Brokers?
- Interactive Brokers Minimum Deposit
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