Funding IB account with stock position transfer

Discussion in 'Retail Brokers' started by Pholeuon, Jan 26, 2008.

  1. Ok, I calculated 2007 fees by my current broker and calculated how much it will be by IB and I created account by IB. I need fund it now.

    I am in Europe but my current broker is in USA. There is a bit complication with wire transfer, there can be some conversion fees, etc, it is a bit complicate and needs longer time.

    There exist possibility to fund IB account with transfer of current position.
    I hope somebody has some information about it.

    1. How long it takes? For example if on Monday 16.00 (or better it is make in the morning?) I will make instruction transfer my positon from my current broker, how much it will approximately take until it will reach my account by IB so I can set stops there, etc (by this volatility I do not want have position 3 days without stop...).

    2 how much it will cost?

    3. I tried to make it, but after filling instructions it does not offer to me choose which one stock I want transfer from my current broker. It looks like it want transfer all positions. I do not want to do it, I just want transfer enough money for daytrading US stock by IB. Moreover, I am usually flat these days overnight.

    I hope I understand that it will transfer just stock not stock to liquidate my account by current broker. But I do not see option how to transfer just some stock.

    If I understand correctly it is possible to transfer just long stock positions.
    If transfer through clearing center needs more time, can somebody suggest to me some rigid stock by them is low probability that it will go to the hell during that transfer?

    It realy bothers me that I do not see any option choose stock. Btw, I do not see there option how to transfer stock out of IB, but I do not have there any may be later it will be available.

    And now big question. I suppose that I need at first ask by my current broker to EXPORT the position, only later IB IMPORRT IT.

    Thanks for any help. It looks to me a bit complicate, I do not have experiences with it.
  2. Keyword spamming:

    Bernanke, Bush, Jack Hershey, Tim Sykes, Stock Trad3r, black monday, blow up, IB sucks, risk management, huge profit, prop firms, market crash, screwing,

    Ok, may be now somebody will notice my post...