How To Transfer From M1 Finance To Interactive Brokers 2024

Migrating your investment portfolio from one brokerage platform to another can seem like a daunting task, but it doesn't have to be.

If you're looking to transfer your assets from M1 Finance to Interactive Brokers, this article will guide you through the process step by step.

M1 Finance charges a $100 outgoing ACAT fee for all account types and additional $100 closing fee for retirement accounts.

• For a traditional brokerage account transfer from M1 to IBKR, the total fee will be $100.
• Should you decide to rollover a Roth IRA to Interactive Brokers, for example, the total fee will be $200.

Keep in mind these fees can change at any time.

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.

Best Free Stock Promotions

Brokerage	Promotion	Link
	1 Free Fractional Share Worth Up To $200	Learn More
	Earn Up To 40 Free Fractional Shares	Learn More
	5 Free Stocks When You Deposit $100+	Learn More
	$20 Bonus When You Invest $5+	Learn More

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. Select M1 Finance as Your Broker

On the "Transfer Positions" page, you'll find a list of popular brokers.

Scroll through this list and select "M1 Finance" as your current brokerage platform.

If you don't see M1 Finance listed, you can use the dropdown option to access more broker options.

3. Enter Your M1 Finance Account Number

To initiate the transfer, you'll need to provide your M1 Finance account number.

Here's how to find this:

1. Log in to M1 Finance
2. Go to your account settings
3. Select 'accounts'
4. The account number will be displayed to the right of the account name

4. Complete the Transfer Request

After entering your account number and confirming the transfer fee, follow the on-screen instructions to complete your transfer request.

You may be required to verify your identity and provide additional details to ensure a smooth transfer process. Once you've initiated the transfer, Interactive Brokers will begin the process of moving your assets from M1 Finance.

You can monitor the progress of your transfer through your Interactive Brokers account.