Moving Roll over IRA to IB?

Discussion in 'Interactive Brokers' started by mvalley, Sep 28, 2006.

  1. mvalley


    I currently have a roll over ira (from my old 401k) that I put in etrade 2 years ago.

    I'd like to move all that money to Interactive Brokers but not incur any tax penalities.

    Can I Roll over a roll-over?

  2. tef8


    Yes - directly no less!
    Any broker that has rollover ira's usually you can directly transfer funds.
    If you explore IB's website they have info on it. If you call or email them prior to setting up your account (if you do it online) they can tell you which clearing firm your broker uses - you'll need to know that and also point you in the right direction as to account type on the application form.

    If you are not going to actively trade though (daytrade) you might be better off with Fidelity or Cyber or perhaps MB - customer service will be better imo (and experience).

    Trade errors that are not your own are tedious to get fixed at IB (again in my experience from trading there).

    The trading platform at Fidelity is free - I use it in one of my other accounts & it was easy to learn and use. Their data is free. Free is good in an IRA imo :)
    There commisions are on the high side though, but you are getting free data, trade platform, news service, etc so you'd need to weigh that (look at the total package).

  3. rolll it to ib. i've been with them 5 years and made 10's of thousands of trades and never an error.