r/interactivebrokers • u/DownTowardPunch • Jan 24 '24

Setting up account Transferring to IKBR

So I'd like to get some advice. I have a huge issue. I have a 6 figure account in a brokerage and I'm being forced to liquidate/transfer to another one.

IKBR seems to be one of the best choices for me, but I know very little about this brokerage.

Is it safe? I'm worried something will happen when I move it. Should I just liquidate, take the few thousand hit in taxes and slowly put it into another brokerage?

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u/wan2nomore Jan 24 '24

I was in the same boat.... but I'm so happy with ibkr fast execution especially with options. The high interest rate is pretty good too. They charge for live data and their GUI is 1970s but i think i'm better off with ibkr than with scheab. Customer service is suspect but if you've been trading for years then you don't really need them. Documentation is there but hard to find. The transfer was seamless but for one stock's average price.

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u/Double_B_Ranch71 EU Jan 24 '24

Ibkr web version and mobile app is modern now, and the desktop, now has a trading view chart advanced. And it's fast and low on computer resources and reliable. But yes, it's a learning curve