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How to Open an Account, Deposit, and Withdraw Funds

Lesson 1 of 5
Duration 5:25
Level Beginner
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To become a client at Interactive Brokers, you’ll first need to open an account, fund it, and once your application is approved, you can then begin to actively deposit and withdraw your funds. In this lesson, we’ll show you how to find the information you need to get started with these steps, as well as provide you with some tips that might help speed up your application review process.

Study Notes:

Interactive Brokers serves more than two million clients around the world, and when you join us – like them – you’ll be able to trade stocks, options, futures, forex, bonds, and more, from a single unified platform, at our low and transparent costs, as well as have access to the global markets with the use of our innovative platforms, tools, and services, including our award-winning Trader Workstation (TWS).

Through this guide, we’ll help you find those resources best suited for your trading and investing needs – whether you’re an individual making an occasional investment, a professional and frequent trader, or an institutional investor – we’re here to help steer you in the right direction.

Open an Account

To become a client at Interactive Brokers, you’ll first need to open an account, fund it, and, once it’s approved, you can then begin to actively deposit and withdraw your funds. In this lesson, we’ll show you how to find the information you need to get started with these steps, as well as provide you with some tips that might help speed up your application review process.

Our website offers a wealth of details about the specific account types that are available to you. To determine which one is right for you will ultimately depend on whether you are applying as an individual or as an institution.

The Open Account menu on our website offers a guide to choosing the appropriate account, with easy-to-read tables that break down and describe our various selections, including individual, joint, trust, and IRA accounts, professional and non-professional advisor accounts, family offices, small businesses, hedge funds, mutual funds, money managers, and much more.

To further help you prepare for the application process, you can also select ‘What You Need’ from the Open Account menu, and when you’re ready, simply start the application. By the way, if you’ve already started on an application, you can complete it by choosing the ‘Finish an Application’ option in the same menu.

It’s quite simple to request opening an account with us. All you need to do to get started is:

  1. Create a username and password,
  2. Confirm your email address, and
  3. Complete the application.

You can find certain, general requirements on our website for individual and institutional applicants, including contact information, as well as bank account details, among other items specific to the type of account being requested. You can even select a different language to apply in, if needed. Additional support is also available through our Help services.

Once all documentation has been submitted and accepted, please allow us time to complete our due diligence checks and application review.  

And, as mentioned earlier, there are steps you can take to accelerate, or prioritize, the application review process. For example, you may fund your application prior to approval, and If for any reason your account is not approved, the funds will promptly be returned. Please note, however, that while an ACAT (Automated Customer Account Transfer) can be entered as an initial funding method, the request will not begin processing until application approval is granted.

To further help ensure your application status is on track, you can log in, and once there, you can verify that all the necessary documentation has been submitted. You can also check the email you provided us for any correspondence from our Compliance team, which might be a request for additional documentation and / or clarification of existing information. This might help mitigate any undue delays during the review process.

Funding Your Account – Making Deposits & Withdrawals

To learn how to fund, and make subsequent deposits, to your account, refer to the ‘Fund Your Account’ option in the Support section of our website. Since our clients reside in diverse geographic locations globally, we offer a long list of ways to fund accounts across a host of different countries, as well as in several different currencies.

Select to Deposit Funds into your account, and input your region or country of residence, along with the currency type you’re using. For example, if you reside in the United States, you can elect to deposit funds via a direct, electronic transfer from your bank, or mail a check, among other methods. You can use U.S. dollars, or another currency, like Hong Kong dollars, or euros. But if you reside in say, Singapore, you’ll see different selections for methods to deposit funds, as well as available currencies.

We also offer several methods to withdraw funds, including ACH transfers for U.S.-based accounts, Canadian EFT transfers, among several others. Check out our online guides on entering withdrawals, limits, and withdrawing funds to a third party, along with a host of other related information.

Now that you’re more familiar and better prepared for the simple process of applying for an account, funding it, and ways in which you can deposit and withdraw funds, we’ll next take you on a brief tour of our website, where we’ll highlight some of the places you can go to get up-and-running quickly with our platforms, tools, and services.

LEARN MORE

Interactive Brokers Website

Guide to Choosing the Right Account

What You Need for the Application

Start the Application to Open an Account

Fund Your Account

IBKR Guides – Transfer Funds

The IBKR Campus

Join The Conversation

If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.

11 thoughts on “How to Open an Account, Deposit, and Withdraw Funds”

  • Anonymous

    Not very helpful

  • Anonymous

    Thank you, I understand correctly that I need to open another account in the Central European office and then I need to write to you to transfer funds from account to account, what will be the commission for such a transaction, thank you very much!

    • Interactive Brokers

      Hello, thank you for reaching out. There is no fee to transfer funds or positions internally between IBKR accounts. We hope this helps!

  • Muhammad Asad

    Hi, I deposited amount in my account which was subject to approval at that time. Later on my application for opening an account got rejected. However I received an email from interactive broker that they have received the deposit. Now I want to get back my funds. However I haven’t received it yet in my personal bank account. Could you please suggest course of action that I need to follow.

    • Interactive Brokers

      Hello Muhammad, thank you for reaching out. For this account specific issue, we recommend contacting Client Services by phone, live chat, or web ticket: http://spr.ly/IBKR_ClientServicesCampus

  • Liliana Perez

    hola.. cuanto tengo que tener en la cuenta para empezar a operar? atenta.

    • Interactive Brokers

      Hola, gracias por preguntar. Por favor revise esta sección de preguntas frecuentes para obtener información detallada sobre el depósito mínimo requerido según el tipo de cuenta y entidad: https://www.ibkr.com/faq?id=32659392

      Si es aprobado, tiene 270 días calendario para financiar la solicitud de cuenta Individual o IRA aprobada. https://www.ibkr.com/faq?id=28226126

      Además, no hay tarifas por inactividad. Sin embargo, si alguna tarifa, retiro, transferencia o movimiento adverso del mercado reduce el saldo de la cuenta en vivo a USD 0, la cuenta puede cerrarse automáticamente. Si aún está interesado en una cuenta de IBKR, visite http://spr.ly/OpenAccountfromIBKRCampus

  • SP

    Why do I see the base currency as GBP when I deposited money in CHF? I don’t have the option to switch the base currency to CHF under “settings”, which is the advice I found online. Thank you for your help.

    • Interactive Brokers

      Hello, thank you for reaching out. If you deposited CHF into your account but your base currency is set to GBP, you will see your CHF balance converted and displayed in GBP. To change the base currency to CHF, you need to go to Client Portal, select the User menu (head and shoulders icon) in the top right corner, then Settings, then under Account Settings find the Account Reporting section and click on Base Currency to change it to CHF. Once changed, your CHF balance will display in CHF rather than being converted to GBP. https://www.ibkr.com/faq?id=28227469

      Please reach back out with any additional questions. We hope this helps!

  • William Farris

    Do you have video’s or DVD’s a person can purchase to get far better knowledge of entering the Stock Market as a new beginner? Also, is there a certain amount of funds required to open an account? Thank you for responding.

    • Interactive Brokers

      Hello, thank you for reaching out. We recommend that anyone who wants to learn more about trading and our platforms visit IBKR Campus. It has many free resources such as video lessons and scheduled webinars: https://ibkrcampus.com/traders-academy/beginner-trading/

      This could be a great resource for you!

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Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers, its affiliates, or its employees.

Disclosure: Forex

There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.

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