Transfer Interactive Brokers to Webull (Or The Other Way) in 2024
How to Transfer a Webull Account to Interactive Brokers
Do you have a Webull account? Are you thinking about moving to Interactive Brokers? Or are you in the opposite situation? In either case, we’ll show you how to transfer your investment account to the other firm with zero snafus.
Transfer Overview
Both Webull and Interactive Brokers participate fully in the Automated Customer Account Transfer Service. More commonly known as ACATS, this electronic system is so easy and simple that moving brokerage accounts nowadays is a very straightforward and trouble-free process.
Whenever you perform an ACATS transfer, the first thing you want to do is prepare your old account for the transfer. Open orders should be closed, and you should stop trading in the account. This is especially true with any securities you’re going to move. If you’re going to do a partial transfer, you can continue trading securities that you’re not going to transfer.
With the old account prepared, the next step is to open your new account. It must have the same name on it and be of the same account type (traditional IRA moving into a traditional IRA, for example).
With both accounts prepared, it’s time to get down to business. You will initiate the ACATS transfer with the new broker.
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Transfer From Interactive Brokers to Webull
Before we get started, you do need to open a Webull account if you haven’t done so already.
To move your assets at Interactive Brokers into your Webull account, you can start on either the
broker’s mobile app or website. On the former platform, tap on the center icon in the bottom menu and
then select the Transfer icon. It is labeled with an orange dollar sign surrounded by a circle. You’ll
get a new page with a list of options, one of which is to transfer stocks into Webull. Tap on this link. You’ll now have Webull’s ACATS form pulled up right on your phone.
To find this form on the website, log into your account and click on the person icon. It’s located in the upper-right corner of the site. Select My Account from the drop-down menu. On the next page, you’ll see a list of links in the left-hand column. Click on Transfer Stocks and you’ll get the same form that is on the mobile app.
On the website, we had to type in a trading PIN to gain access to the ACATS form. This was not our experience on the mobile app.
On the website, the Interactive Brokers logo is displayed in the group of outgoing brokerage firms. Just click on this and IB’s information will be automatically added to the form. IB’s logo isn’t on the mobile app’s form. You’ll need to type in Interactive Brokers in the search field.
Remember that many instruments available to IB clients are not available at Webull, and these assets should not be transferred. Examples include bonds, mutual funds, foreign assets, and futures contracts.
Webull Promotion
Get up to 75 free stocks when you deposit money at Webull!
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Transfer From Webull to Interactive Brokers
Inside your new Interactive Brokers account, click on the menu icon (identified with three horizontal bars) and then select Transfer & Pay. In the sub-menu that appears, click on Transfer Positions.
This will bring up IB’s transfer page. There are several transfer tools displayed on this page. Be sure to select the ACATS option. You’ll get a new page with a list of brokers. Webull’s name isn’t in the list, but its clearing firm is. Select Apex Clearing as the outgoing broker and provide other details, such as your Webull account number.
Interactive Brokers will only accept transfers of micro-cap stocks if they are registered with the SEC with an S-1 or similar registration statement or if they were purchased on the open market. There is a tool on IB’s transfer form that will tell you if a stock is a micro-cap stock. You simply need to enter the ticker symbol.
Under no circumstances will Interactive Brokers accepts transfers of cryptocurrencies. If you elect to do a full account transfer, be sure that all crypto positions have been sold off.
Interactive Brokers Promotion
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Transfer Fees
Interactive Brokers charges $0 for incoming and outgoing ACATS transfers.
Webull assesses nothing for an incoming transfer but does charge $75 for an outgoing transfer. At the time of publication, Interactive Brokers does not have any ACATS fee rebate specials.
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