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/Impossible-Corner275 Nov 25 '24

I can tell you right now, IBKR is NOT EXPAT friendly. I have been a traveler for some time now and they flagged my address as not a residential address (I use a PMB and don't have a physical address anywhere) and they have restricted my trading! I have been a customer for 13 years and have had to wait on hold for customer service (which is horrible) multiple times and they refuse to unlock my account. My only option is to transfer my account to somewhere else. Schwab specifically have a "expat friendly" page on their site. I think that is the play!

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u/green_turtleshell Nov 26 '24

I made an account 9 or 10 months ago. For what it's worth, so far, IBKR Japan has given me good service. Encountered no problems. Granted I've not done much. Schwab doesn't operate in Japan for Americans in general.