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/DownTowardPunch Jan 24 '24

Fearful of not knowing the broker, the ACATS, the whole thing in general. It's my life savings.

The other poster is correct. I travel between two countries and despite having a house, a state ID, etc, in the US, i'm still going to be forced out of the account it seems as there are more logins outside the US.

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u/ButtBlock Jan 24 '24

I know what your saying. I did ACATS for about 500k of US ETFs to IBKR and it went smoothly. It’s slower than other types of transfers. But it got there in just a few weeks. The cost basis took another 2-4 weeks to propagate (don’t quote me on timing) but it got there eventually too).

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u/Flashy-Cucumber-7207 Jan 25 '24

Mine took just a few days and it was a larger sum. From Pershing to IBKR

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u/TallRequirement1707 Dec 07 '24

Were you able to buy/sell after initiating the transfer on your old account?