If you're currently using Public and are interested in making the switch to Interactive Brokers without selling your stocks or ETFs, you're in luck.
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.
It's important to note that Public charges a $75 account transfer (ACAT) fee for all outgoing transfers, including partial and full account transfers.
Be prepared for this cost when initiating the transfer.
Check out my video on how to transfer your brokerage account below, let's dive in!
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!
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Here's what you need to know:
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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.
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 Public.
In the next window, you'll see a list of popular brokers.
If you don't find Public listed, use the drop-down menu to access more options.
To ensure a smooth transfer, you'll need to provide your account number from Public.
You can typically find this information on your statements or within your Public account.
Here's how to find it if you don't have a statement handy:
Follow the on-screen instructions to complete your transfer request.
You may be asked to provide additional information or documentation, so make sure to have all the necessary details at hand.
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