How to Delete an Interactive Brokers Account
Before you move ahead with closing your Interactive Brokers account, make sure to review the guide below:
Cost of Transferring or Closing
Interactive Brokers generally does not charge a fee to close an account. The firm also does not charge for incoming or outgoing ACATS transfers. There is no IRA termination fee. However, there may be tax consequences from liquidating assets in a taxable account or taking cash out of a tax-deferred account. Be sure to speak with a licensed CPA before taking either step.
IBKR Closeout Overview
There are two primary ways to close an IBKR account. You can either transfer the account to another brokerage firm, which will shut it down at Interactive Brokers, or you can withdraw everything and then request closure on the IBKR website or mobile app.
First Method: Close IBKR Account by Transfer
The first option is a little easier because it involves fewer steps and does not require selling everything. Of course, if you do not liquidate your positions, then you will not receive a cash balance. If cashing out is your goal, move ahead to the second method.
To close an IBKR account by transfer, you need to request a full ACATS transfer through a new brokerage firm. That firm will send the transfer instructions to IBKR, which will then process the ACATS request and move the account’s cash and securities to the new broker. Once the assets arrive at the new firm, the IBKR account should be closed.
Notice we said “cash and securities.” Cryptocurrencies, futures, precious metals, and forex cannot be transferred through ACATS, so any such positions will need to be liquidated before the transfer request is submitted. Another possibility is to move them into a second IBKR account. They cannot simply be left behind in a partial transfer because a partial transfer will not close the IBKR account.
Keep in mind that some holdings may not be accepted by the new brokerage firm. It’s a smart idea to confirm in advance that certain mutual funds and foreign stocks will be accepted. Options with less than 5 business days left until expiration generally should not be moved.
Most broker-dealers today have easy-to-use ACATS request forms online. It generally takes only a few minutes to complete the form, and the assets often arrive within several business days.
Brokerage Incentives
If you are moving your IBKR account to another company or opening a new brokerage account,
be sure to see whether the new broker has a sign-up promotion.
See
Brokerage Promotions »
Second Method: Manual IBKR Account Closeout
If your goal is to turn your IBKR account into cash and withdraw the proceeds, simply transferring the account will not do the job. But this second method will.
The first task is to liquidate all positions. This applies whether the holdings are securities, futures, forex, precious metals, cryptocurrencies, or anything else. Long positions need to be sold, and short positions need to be covered. If you want to keep a particular position, you could move it to a second IBKR account or transfer it to another brokerage firm. A partial transfer like that will not close the original IBKR account.
The second task is to withdraw the account’s cash balance if you do not want Interactive Brokers to handle the final payout automatically during the closeout process. It is possible to close an IBKR account with a cash balance, although the final payout method depends on the account setup. For USD-based accounts, IBKR can use ACH if you already have ACH instructions on file; otherwise, it can issue a paper check. For non-USD-based accounts, IBKR uses a wire based on saved bank instructions. Moving the cash out yourself is still a pretty straightforward process.
To withdraw cash by ACH or wire, click on the Transfer & Pay link at the top of the site and select the withdrawal icon on the following page. Click on the method you want and follow the on-screen prompts. It’s also possible to send a free cash balance to a Wise account.
If you have foreign currencies in your account, review the withdrawal instructions carefully before requesting closure so the funds can be sent out using the correct method tied to your account setup.
On the mobile app, head over to the More page (found conveniently enough under the More tab) and scroll down to the Transfer & Pay link. Tap on this and select the icon to withdraw funds. Follow the on-screen instructions to move cash out of the account.
The third task is to request an account closure (assuming the balance is now $0). This can be accomplished on either the website or mobile app. On the former platform, click on the link for account settings (with the head-and-shoulders icon) in the upper-right corner. In the drop-down menu, click on the link for settings. On the new page, scroll down to the section for account configuration and find the link to close an account.
On the closure page, there will be some instructions to review. Pay attention to the address this page displays; that’s where the paper check will be sent if you have a USD-based account without ACH instructions on file.
On the mobile app, the link to close an account is under the More tab. On the More page, scroll down to the Settings link. On the Settings page, find the link for Account Settings. Scroll down to find the link to close an account.
Closing an Interactive Advisors Account
A robo account with Interactive Advisors can be closed using either method described above. The same comments regarding pricing and taxation apply.
Updated on 4/14/2026.
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