How to Delete an Interactive Brokers Account
Before closing your Interactive Brokers account, review the following guide:
Cost of Transferring or Closing
Interactive Brokers does not charge to close or transfer an account. There is also no IRA termination fee. However, selling investments in a taxable account or withdrawing cash from a tax-deferred account could create tax issues. Talk to a CPA before taking these steps.
IBKR Closeout Overview
There are two main ways to close an IBKR account. You can transfer the account to another brokerage, which will close it at Interactive Brokers, or you can sell everything, withdraw the cash, and then request closure on the website or mobile app.
First Method: Close IBKR Account by Transfer
This method is simpler because it requires fewer steps and nothing needs to be sold. If your goal is to turn everything into cash, skip to the second method.
To close an IBKR account by transfer, request a full ACATS transfer at a new brokerage firm. The new firm will send the request to IBKR, which will move your cash and securities. When the transfer is complete, the IBKR account will be closed.
Note that only cash and securities can be moved. Cryptocurrencies, futures, precious metals, and forex cannot be transferred. These must be sold first or moved to another IBKR account. A partial transfer will not close the account.
Some assets may not be accepted by the new firm. Always check that mutual funds and foreign stocks can be transferred. Options with less than 5 business days left should be closed instead of transferred.
Most brokers now have easy online ACATS request forms. The process takes only a few minutes, and transfers are usually complete in less than 2 weeks.
Brokerage Incentives
If you are moving your IBKR account to another company or opening a new brokerage account,
make sure to check if the new broker offers promotions for signing up.
See
Brokerage Promotions »
Second Method: Manual IBKR Account Closeout
If you want to turn everything into cash and withdraw it, use this method.
The first step is to sell all positions, including stocks, futures, forex, metals, cryptocurrencies, or anything else. Long positions must be sold and short positions covered. If you want to keep a position, transfer it to another brokerage or to a second IBKR account. Partial transfers won’t close the original account.
The second step is to withdraw the cash balance. If you don’t, IBKR will mail a paper check. If you prefer ACH or wire, you must withdraw the money yourself.
To withdraw cash, click on the Transfer & Pay link at the top of the website and select the withdrawal icon. Pick ACH, wire, or another option and follow the prompts. Free balances can also be sent to a Wise account.
If your account has more than USD 1,000 in foreign currencies, convert them to U.S. dollars. If less than that, IBKR will handle the conversion when issuing a check.
On the mobile app, go to the More tab, scroll to Transfer & Pay, and tap Withdraw Funds. Follow the instructions to move the money out.
The third step is to request account closure once the balance is $0. On the website, click the head-and-shoulders icon for account settings, then Settings, then scroll to account configuration and find the link to close an account.
Review the instructions shown. The page will also display the address where a check will be mailed if cash remains in the account.
On the mobile app, go to the More tab, scroll to Settings, then Account Settings, and find the link to close an account.
Closing an Interactive Advisors Account
A robo account with Interactive Advisors can also be closed with either method described above. The same points about taxes and fees apply.
Updated on 9/24/2025.
Continue Reading