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Transferring positions into interactive brokers

Questions › Category: Miscellaneous › Transferring positions into interactive brokers
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redvolver asked 1 year ago

Hi all
I am in the midst of transferring my sg, hk, us stock holdings from fsm one to ibkr. 
Which option should I choose for the list (as attached)?
Can anyone advise? Are all these transfer options free?
Thanks!
Red
 

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2 Answers
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Victor Chng answered 1 year ago

Hi Red,
 
I had not done a transfer before so I am unable to advise on this. This is what I found on IB support:
https://ibkr.info/node/65

redvolver replied 1 year ago

Np. But thanks for the info !

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Jieren Zheng answered 1 year ago

I transferred my holdings to Tiger instead (and one week later IBKR says zero account minimum fees -_______-)

From what I know, FSMOne has no transfer fees, and it takes weeks to a few months to get the shares from FSMOne to Tiger.

What I did was raise the stock deposit request from Tiger, and then fill up the form from FSMOne (Letter of Intent).
Hope my experience helps.

redvolver replied 1 year ago

Thanks Jieren. Haha I know right… Brokers can change their terms. As unpredictable as the market.

I was hoping to get onboard ibkr to dip my toes into options.

Anyway I have enquired. For investors who have non US stocks, they would need to choose the basic FOP transfer. And yup like what u mentioned, I also have to initiate the transfer request to fsmone using Letter of intent. No fees incurred in both brokers.

My only problem is ibkr complicated UI. I like fsm user friendly one. Not sure if I will regret my choice :(

Jieren Zheng replied 1 year ago

I am using Thinkorswim now and Ninjatrader in the past, I actually found the interfaces like those more like home ^^”

I am actually quite frustrated by the Moomoo Shopee like UI (but they offer odd lots in HK)