facebookWhat is the cost to transfer stocks out of Interactive Brokers? I didn't know about the 10USD fees before applying and buying it. Now I wish to transfer it to FSM or TD. Please help (:? - Seedly

Anonymous

17 Oct 2020

General Investing

What is the cost to transfer stocks out of Interactive Brokers? I didn't know about the 10USD fees before applying and buying it. Now I wish to transfer it to FSM or TD. Please help (:?

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Nicholas Beh

17 Oct 2020

Student Ambassador 2020/21 at Seedly

There are no fees to transfer out of Interactive Brokers. For transferring to TD Ameritrade, you can initiate an ACATS transfer from TD Ameritrade's side, once you have opened an account with them. As for FSMOne, you will need to check with them on the available transfer methods.

If you own securities in markets outside of the US, do note that TD Ameritrade only supports US markets. FSMOne supports SG, HK and US markets. You will need to find another broker if you have invested in other markets than the ones mentioned earlier.

Do note that Interactive Brokers' 10 USD fee is a minimum commission, which is to say that if you accumulate 4 USD of commissions in a month, then they will only charge you the remainder amount of 6 USD, instead of the full 10 USD. If you trade monthly, or more frequently, Interactive Brokers can actually be cheaper in spite of the minimum commissions.​​​

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