Transfering accounts with shares on margin

Discussion in 'Retail Brokers' started by killATwill, Nov 6, 2005.

  1. Can you transfer your equity positions from one brokerage account to another if part of your account positions are held on normal margin? Is this possible, or would one of the brokerage firms force you to liquidate the positions on margin?

    Has anyone ever tried this?
  2. nkhoi

    nkhoi Moderator

    I did years ago.
  3. thanks. anyone know if you can do this with IB?
  4. JackR


    It is done all the time. One restriction you might run into is that an account will not be transferred with any unsettled trades. Thus, even with a margin account you could not transfer until your stock trades settled. This means you'd have to stop trading and on the third day send in the account transfer request (ACAT). Then you'd have to wait for the actual transfer to take place. No trading for a week or two. Commodity accounts have slightly different rules and forms.

    Plan ahead. Do it the last two weeks of the year.

    If you are thinking of transferring to IB I'd call and speak with the new accounts people for IB's current policy.

  5. thanks for th detailed info, jack. already have an ib account.
  6. Steve_IB

    Steve_IB Interactive Brokers

    Do an ACATS request. You can do this from Account Management.