Can I transfer small amount of cash from IBKR to another broker in Europe?

Hi,

I want to transfer a small amount of cash from IBKR to another broker in Europe.

So I went to Settings > Transfer & Pay > Transfer Positions > Outgoing > DWAC and it seems I can only select Stock/Warrant/Bond as asset to transfer.

Is it possible to achieve want I want to do? Should I have gone to another option in Settings?

Thanks!

 

Yes. I you want to transfer cash, I suggest you do not choose "transfer positions" since you do not want to transfer positions.

 

I'm not sure you can transfer cash to another broker, as the destination account needs to be in your name and a broker account typically isn't. I need to transfer to my bank account first, and then to my broker from bank account.

 

Select “Wire Transfer”?

 

Thanks, seems the correct solution is to use Wire Transfer (although it will not work with most brokers, who want the incoming transfer to be in your own name).