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newtrader05

ACATS transfer into Interactive Brokers

By newtrader05, in Brokers and Data Feeds

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newtrader05    10

newtrader05
Posted

I am novice trader switching from my current broker to Interactive Brokers and thinking of using an ACATS to make the transfer. Currently I am all cash in my present broker. Is ACATS a safe mechanism? What is the best, safest means of moving cash from my old broker to IB. don't want to make a novice mistake and assume that things will just go well.

 

Thanks,

newtrader05

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brownsfan019    17

brownsfan019
Posted
I am novice trader switching from my current broker to Interactive Brokers and thinking of using an ACATS to make the transfer. Currently I am all cash in my present broker. Is ACATS a safe mechanism? What is the best, safest means of moving cash from my old broker to IB. don't want to make a novice mistake and assume that things will just go well.

 

Thanks,

newtrader05

 

ACATS is quick and easy. Much safer and easier than sending a check or money order. If done correctly cash should be there within days.

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