Acat > Ib

Discussion in 'Retail Brokers' started by indahook, May 4, 2004.

  1. I am doing an account transfer into IB for a small margin account and was wondering how long they take? In the past other firms have done it in three days for me...and others up to 7 days. I have restricted stock in the account so this may be why it is taking a little longer???
     
  2. ethos

    ethos

    It took me a week. I also have another account with restricted stock which I was told I can't ACAT. They suggested either to wait untill the restriction lifts or to request paper stock certificate for the restricted stock. The latest supposed to take 2 weeks but in my case it is already 3 weeks with nothing happening. I suspect the broker just forgot to initiate the process.
     
  3. ethos

    ethos

    It was not IB though. I transferred to Tradestation.
     
  4. thanks for the reply.
     
  5. Great. Now I found out the hard way that I cannot transfer my account into IB with restricted stock and my current broker has frozen the transfer of cash privilege by locking me out of their" transfer money" privilege untill more paper work is submitted. Fucking superb. I`ll be losing money because of red tape.