How To Transfer From Firstrade To Interactive Brokers 2024

If you're looking to move your investments from Firstrade to Interactive Brokers, you've come to the right place.

In this article, we'll walk you through the steps to transfer your assets without the need to sell your stocks or ETFs and move to cash.

Firstrade utilizes Apex Clearing for their clearing services, and they charge a fee for transferring assets.

Specifically, there is a $55 fee for partial transfers and a $75 fee for full ACAT (Automated Customer Account Transfer) transfers.

Ensure you have the necessary funds available in your Firstrade account cash balance to cover these fees.

Check out my video on how to transfer your brokerage account below, let's dive in!

What is Interactive Brokers?

Interactive Brokers is a popular brokerage firm known for its advanced trading tools, a wide range of investment products, and competitive fees.

Whether you're an experienced trader or a novice investor, Interactive Brokers offers a platform with many options.

Learn more about Interactive Brokers here!

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Here's what you need to know:

• Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
• All Robinhood investors will get a 1% Match on what they Contribute or Transfer
• Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

1. Open an Interactive Brokers Account

If you don't already have an Interactive Brokers account, the first step is to open one.

Visit the Interactive Brokers website and follow their account opening process, which typically includes providing personal information.

1. Once you have your Interactive Brokers account set up, log in to your account.
2. In the top menu, hover your cursor over "Transfer & Pay."
3. A dropdown menu will appear, and from this menu, select "Transfer Positions."

2. Choose Transfer Positions

In the dropdown menu that appears under "Transfer & Pay," select "Transfer Positions."

This is the option you'll use to initiate the transfer of your assets from Firstrade.

In the next window, you'll see a list of popular brokers.

If you don't find Firstrade listed, use the drop-down menu to access more options.

3. Enter Your Firstrade Account Number

To initiate the transfer, you'll need to input your Firstrade account number.

Here's how to find your account number:

1. Log in to your Firstrade account
2. Go to Accounts
3. Click on Deposit/Transfer
4. Look for your 8 Digit long Firstrade Account Number