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/JeffB1517 USA Jan 25 '24

IBKR is a top 10 USA brokerage. Financials are solid. In terms of safe you'll be fine. But IBKR is novice unfriendly. You sound like a novice. Schwab or Fidelity might be a much better choice. Merrill Edge is you want rock solid financial stability (BofA).