I've been having some terrible experiences with transferring my funds out of Interactive Brokers so I thought I would document it here to make others aware of how a broker can effectively steal your money. About 1 month ago I decided that I was going to transfer funds out of my IB account to another broker specifically just for FOREX. 3 weeks ago I started the process by creating a wire instruction. The fields IB requires on their new wire instruction web form were called different names then the fields used by the broker I was intending to receive the wire so I was a little confused with what data was to go in which field. Because of this, I made a couple of mistakes and went in to modify the newly created wire instruction a couple times before I got it setup correctly. IB have a very poorly thought out security policy that when you modify a wire instruction it ends up 'freezing' your account. There is no way to know from the account admin website that the account is frozen. Everything looks normal. Why is this a very poorly thought out policy? For several reasons: - Why would a hacker be more likely to make a mistake on a wire instruction then I would? - Due to the MLA Act, one cannot send funds to a bank that isn't in the name of the IB account entity, so what good does it to do for a hacker to alter the bank details to an account of their choice? None, because the funds can only be sent to an account in the same name as the entity. - IB service rep tells me that they don't let you know the account is frozen because they don't want to alert hackers, but this also doesn't alert the user that they have been hacked and they remain blissfully ignorant. Bottom line, really really dumb idea that isn't thought out at all.