Transfer Interactive Brokers to Webull (Or The Other Way) in 2024
How to Transfer Webull to IBKR Or The Other Way
Do you have a Webull account? Are you thinking about moving to Interactive Brokers? Or are you in the opposite situation? In either case, we’ll show you how to transfer your investment account to the other firm without any issues.
Transfer Overview
Both Webull and Interactive Brokers use the Automated Customer Account Transfer Service (ACATS). This electronic system makes moving brokerage accounts simple and hassle-free.
When performing an ACATS transfer, the first step is to prepare your old account. Close any open orders and stop trading in the account, especially with securities that you plan to move. If you’re doing a partial transfer, you can continue trading securities that you’re not transferring.
Once your old account is ready, the next step is to open your new account. The name and account type (e.g., traditional IRA) must match.
With both accounts set up, it’s time to initiate the ACATS transfer with the new broker.
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Transfer From Interactive Brokers to Webull
Before starting, make sure to open a Webull account if you haven’t already.
To move your assets from Interactive Brokers to Webull, you can start on either the mobile app or website. On the mobile app, tap on the center icon in the bottom menu and select the Transfer icon (an orange dollar sign inside a circle). You’ll see a list of options; select 'Transfer stocks into Webull.' This will bring up Webull’s ACATS form on your phone.
To find the form on the website, log into your account and click on the person icon in the upper-right corner. Choose 'My Account' from the drop-down menu. On the next page, look for 'Transfer Stocks' in the left-hand column to access the same form found on the mobile app.
On the website, you might need to enter a trading PIN to access the ACATS form. This step is not required on the mobile app.
On the website, the Interactive Brokers logo is displayed in the list of outgoing brokerage firms. Click on it, and IB’s information will be automatically added to the form. If you're using the mobile app, you'll need to type "Interactive Brokers" in the search field since the logo isn't displayed.
Keep in mind that many assets available at Interactive Brokers, such as bonds, mutual funds, foreign assets, and futures contracts, are not supported at Webull and should not be transferred.
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Get up to 40 free stocks when you deposit money at Webull!
Open Webull Account
Transfer From Webull to Interactive Brokers
In your new Interactive Brokers account, click on the menu icon (three horizontal bars) and select 'Transfer & Pay.' In the sub-menu, click on 'Transfer Positions.'
This opens IB’s transfer page, which offers several transfer options. Select the 'ACATS' option. You’ll then see a list of brokers. Webull’s name is not listed, but its clearing firm, Apex Clearing, is. Select Apex Clearing as the outgoing broker and provide other details, like your Webull account number.
Interactive Brokers will only accept micro-cap stock transfers if they are registered with the SEC using an S-1 or similar registration statement, or if they were purchased on the open market. The transfer form includes a tool to check if a stock is a micro-cap. Simply enter the ticker symbol.
Under no circumstances will Interactive Brokers accept transfers of cryptocurrencies. If you plan a full transfer, make sure all crypto positions are sold.
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Transfer Fees
Interactive Brokers charges $0 for both incoming and outgoing ACATS transfers.
Webull does not charge for incoming transfers but charges $75 for outgoing transfers. As of now, Interactive Brokers does not offer any ACATS fee rebates.
Updated on 9/19/2024.
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