How do I transfer my US securities positions from my current broker to IB?
Overview:
Broker to broker transfers for US securities are conducted via a process known as the Automated Customer Account Transfer Service or ACATS. This process generally takes between 4 to 8 business days to complete in order to accommodate the verification of the transferring account and positions. The request is always initiated via the receiving broker (IB in this case) and can be prompted by following the steps below.
1. Log into Account Management and select the Transfer & Pay and then Transfer Positions menu options.
2. From the Transaction Type drop-down list select 'Inbound Position'
3. From the Method drop-down list select 'ACATS'.
4. Enter the sending Broker Information in the fields provided, and click CONTINUE
5. In the Transaction Information section, indicate whether or not you wish to transfer all assets and select Yes to the authorization option.
a. Note that a "transfer all assets" election does not require that you specify any assets as an attempt will be made to transfer your account in its entirety. Account holders should note, however, that certain positions may not be on the list of securities eligible to trade at IB and others, while transferable, may be subject to a house margin requirement higher than that of the delivering broker. In the event IB receives an asset list from the delivering broker which includes ineligible positions or the aggregate of the positions transferred are such that a margin deficit would exist were the transfer to occur, IB will attempt to contact you to remedy the situation within the allocated time frame after which an automatic reject of the full transfer would take effect. Account holders may wish to minimize potential delays or problems associated with a ‘Full’ transfer request by verifying security eligibility and margin requirements via the Contract Search link located at the upper right hand corner of the IB homepage prior to initiating the transfer.
b. If you elect to not "transfer all assets", the system will require that you specify the positions you wish to transfer. Click Add Asset to add the positions you wish to transfer. Fill out the Asset Search and Transaction Information sections and click Continue.
6. On the page that appears, type your signature in the Signature field, and then click CONTINUE.
Click BACK to modify the transfer request.
Please note that brokers generally freeze the account during the transfer period to ensure an accurate snapshot of assets to transfer and may restrict the transfer of option positions during the week prior to expiration. You may wish to check with the delivering broker to verify their policy in this regard. In addition, please note if your IB account is currently maintaining positions on margin, any cash withdrawals or adverse market moves could increase the likelihood that your account falls out of margin compliance during the transfer period which may delay or prevent completion of the transfer.
IMPORTANT NOTICE
Applicants may meet the initial account funding requirement through the transfer of securities positions and/or cash via the ACATS system.
Links:
How do I change my mailing address?
To change your mailing address, you will first need to submit the request through Client Portal. Once logged in to Client Portal, go to the Settings section followed by Account Settings. Click the gear icon next to the user you wish to modify in the Profile section. If you just wish to change your mailing address, select "No" where it asks "is your mailing address the same as the one provided above?" Enter the new mailing address and click Continue at the bottom of the page.
Please note that your changes are subject to Compliance review prior to taking effect, and for security purposes you may also be required to provide documentation which verifies your new address.
How do I change my email address?
Overview:
To change your email address, you will first need to submit the request through Client Portal. From within Client Portal select Settings followed by User Settings and then click the gear icon next to Email Address in the Communication section. If you have access to your old email, we will send a secure confirmation number to your existing email address. You will then be prompted to enter the confirmation number and your new email. If you do not have access to your old email, you will be prompted to enter your current password along with your new email address. Click Submit to complete the request.
Glossary terms:
Links:
Can I change my password online?
Overview:
Account holders who are able to log in to Client Portal may change their password by selecting the Settings section followed by User Settings and clicking the gear icon next to the word "Password" in the Login section. Passwords must be between 6 and 40 characters in length and must contain at least one alpha and one numeric character.
Account holders who are unable to log into Client Portal may change their password through the Online Password Reset tool. The password rules stated above will still apply. You may either click HERE, use the "Forgot Password?" link at the bottom of the Client Portal login or click the link provided upon an invalid login to TWS to request a password reset.
IMPORTANT NOTE
Passwords greater than 8 characters in length are only supported on newer versions of IBKR's software. More details are provided on the password reset page within Client Portal. Account holders may also contact Client Service for assistance with password changes. For security purposes, all log in issues and password requests can only be addressed once the identity of the named account holder has been verified.
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A/B SIGNATORY OVERVIEW
Overview:
The concept of multiple, or A/B, signatories is intended to provide multi-user institutional accounts with an internal fraud and error control typically employed by these institutions in other operational facets of their business. This control mechanism requires that multiple individuals provide confirmation of a given request prior to IBKR acting upon it. Control is accomplished through the three steps outlined below.:
Background:
- Defining those functions which require control via a multi-user authorization process.
- IBKR has defined two functions, the creation or modification of additional users and funds management as those which may be controlled via multi-user authorization.
- Specifying the number of account users necessary to provide adequate control.
- For a given function, up to 3 users, or Authorizers, may be specified as being required to provide approval prior to the processing of a request.
- The number of Authorizers specified logically cannot exceed the number of users associated with the account.
- For control purposes (i.e. do not want to allow a given user to circumvent the authorization process by unilaterally making changes), the number of Authorizers can never be decreased only increased.
- This process is managed through the Account Administration/Authorizations menu options within Account Management
- Delineating levels of authority for each Authorizer.
- One of 2 levels of authority, either ‘A’ – high or ‘B’ – low, must be specified for each Authorizer.
- For any function requiring control, a minimum number of ‘A’ Authorizers who are required to provide approval before a request can be processed must be specified
- The minimum number of ‘A’ Authorizers specified for a particular function cannot logically exceed the number of ‘A’ Authorizers set up for that function.
- When the required number of Authorizers that is required to provide approval exceeds the minimum number of ‘A’ Authorizers specified, either ‘A’ or ‘B’ Authorizers are eligible to provide the balance of approval.
- This process is managed through the Account Administration/User Access Rights menu options within Account Management
- The table below illustrates the authorization scenarios which are possible based upon the set-up criteria (# of Authorizers and minimum ‘A’ signatories required) established by the account holder.
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POSSIBLE A/B AUTHORIZATION SCENARIOS
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# of Authorizers
Specified
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Minimum # of ‘A’
Signatories
Specified
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# of ‘A’
Signatories Required to Authorize
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# of ‘B’
Signatories Required to Authorize
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0
|
0
|
0
|
0
|
|
1
|
1
|
1
|
0
|
|
2
|
2
|
2
|
0
|
|
2
|
1
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1 or 2
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1 if only 1 ‘A’ has signed, 0 if 2 ‘A’s have signed
|
|
3
|
1
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1, 2 or 3
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2 if only 1 ‘A’ has signed, 1 if only 2 ‘A’s have signed,0 if 3 ‘A’s have signed
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|
3
|
2
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2 or 3
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1 if only 2 ‘A’s have signed, 0 if 3 ‘A’s have signed
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|
3
|
3
|
3
|
0
|
