Interactive Brokers Withdrawals

While many brokers ensure a hassle-free withdrawal process, with others, the process can be more challenging. So, how does the Interactive Brokers withdrawal process compare? As part of my Interactive Brokers review, I have evaluated how traders can request and receive withdrawals. Read on and find out about the Interactive Brokers withdrawal methods, associated fees, and processing times and get a step-by-step guide on how to request your first Interactive Brokers withdrawal.

How to Withdraw from Interactive Brokers?

The Interactive Brokers withdrawal process functions similarly to online banking, with which most traders are familiar. All Interactive Brokers account types follow the same process, and verified traders can request withdrawals from the secure back office, which handles all financial transactions.

Noteworthy:

• Traders cannot request withdrawals from the Interactive Brokers demo account, as, like all demos, it uses virtual funds
• Per AML regulations, the name on the payment processor must match the name on the Interactive Brokers trading account. Interactive Brokers has no minimum withdrawal amount, but maximums apply.

Interactive Brokers Withdrawal Steps

1. Log into your Interactive Brokers back office.

2. Navigate to “Transfer & Pay,” select “Transfer Funds,” and click “Make a Withdrawal.”

3. Choose your payment processor, enter your desired withdrawal amount (ensure you have sufficient free margin to cover the withdrawal), and follow the on-screen instructions.

4. The finance department processes each Interactive Brokers withdrawal within 72 hours and will e-mail confirmation.

Interactive Brokers Withdrawal Fees

The ultra-competitive Interactive Brokers fees also include withdrawals, where traders get one free monthly withdrawal before the withdrawal fees apply.

Below are the Interactive Brokers minimum withdrawal fees (excluding currency conversion costs and select third-party professing fees):

• Wire - $10
• ACH - US ACH transfer initiated at IBKR (US accounts only) - $1
• Check - Available for USD only with a US mailing address - $4
• Direct Debit - $10
• Transfer to Wise Balance - $10
• Canadian bank wire - C$12
• Canadian EFT transfer (Canadian accounts only) - C$2
• EUR bank wire - €8
• SEPA (Single Euro Payments Area) Initiated at IBKR - €1
• GBP bank wire - £7
• GBP - BACS - £1
• HKD bank wire - HKD95
• HKD - GIRO/ACH - HKD8
• CNH bank wire - CNH60
• CNH - GIRO/ACH (offshore Renminbi) - CNH7
• NZD bank wire - NZ$15
• NZD - ACH - NZ$1
• SGD bank wire - SG$15
• SGD - GIRO/ACH - SG$1

Noteworthy:

• Traders may face a 0.03% auto currency conversion fee
• Traders can eliminate currency conversion fees with a multi-currency account

Which Payment Methods Can Be Used to Withdraw from Interactive Brokers?

Interactive Brokers only accepts bank-related withdrawals, including bank wires and payment methods like ACH and SEPA, where available, which are faster online bank transfer options.

Traders can use the following payment processors to request their Interactive Brokers withdrawal:

• Bank wires
• BACS/GIRO/ACH/EFT/SEPA

How Long Does It Take to Get a Withdrawal from Interactive Brokers?

In my Interactive Brokers review I found that the Interactive Brokers finance department processes withdrawals within 72 hours.

The minimum withdrawal time for the Interactive Brokers withdrawal methods, including estimated third-party processing times:

• Bank wires - Within 72 hours + Up to 10 business days
• BACS/GIRO/ACH/EFT/SEPA - Within 72 hours + Up to 1 business day

Withdrawal Issues and Delays in Payment

Withdrawal issues and payment delays during the Interactive Brokers withdrawal process are rare but could arise. Traders using Interactive Brokers leverage must ensure sufficient margin is available to cover the withdrawal amount.

Some of the possible Interactive Brokers withdrawal issues and delays in payment are:

• Up to ten business days for funds to arrive (delay) unless traders use BACS/GIRO/ACH/EFT/SEPA
• The withdrawal payment processor differs from the deposit payment processor (delay), avoidable by using the same payment processor
• Insufficient free account margin (issue), avoidable by ensuring sufficient margin exists to cover the withdrawal
• Mismatch of the payment processor and the Interactive Brokers trading account name (issue), can be avoided by using matching accounts

Interactive Brokers Minimum Withdrawal Bottom Line

Requesting a withdrawal is as straightforward as making the Interactive Brokers minimum deposit. The finance department processes withdrawal requests within 72 hours, and traders get one free monthly withdrawal.

FAQs

How long does it take to withdraw money from Interactive Brokers?

Interactive Brokers processes withdrawals within 72 hours, but it can take several business days for traders to receive their funds.

How do I withdraw money from Interactive Brokers?

Verified traders can request an Interactive Brokers withdrawal from the secure back office.

How much can you withdraw from Interactive Brokers per day?

It depends on the authentication method, but $1M is the daily maximum for most traders.

What is the $25K rule on Interactive Brokers?

The $25K rule applies to US day traders, who must have a maximum account balance of $25K to trade without regulatory restrictions.

Does Interactive Brokers have a withdrawal fee?

Interactive Brokers levies a $10 withdrawal fee after the first monthly withdrawal, which remains free.

By Tobi Amure

Tobi Opeyemi Amure has more than seven years of experience as a financial market analyst. He holds a Bachelor's Degree from Obafemi Awolowo University. Tobi's main area of expertise is in personal finance and the Forex industry. He has contributed to top platforms such as Investopedia, GoBankingRates, and Investing.com, where his expertise in Forex markets and digital assets is widely recognized. Tobi’s engaging storytelling and data-driven analysis have earned him a feature on Forbes and TheStreet, setting him apart as a trusted voice in Forex and online finance. In his free time, he explores emerging Forex trends, refines his market strategies, and actively engages with the global finance community.

Reviewer DailyForex.com Team

The DFX Team at DailyForex is a group of veteran financial analysts, traders, and brokerage industry experts dedicated to producing in-depth broker reviews and cutting-edge market insights, plus analysis of market trends. Holding over 16 years of experience in global financial markets, and 4 B.A. level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using the most advanced methodology in the industry. Also, the DFX team is involved in generating technical analysis, signals, and trading strategies, with a consistent commitment to accuracy and transparency. Whether you’re a beginner or a professional trader, the DFX Team works to ensure you have the tools and insights you need to succeed as a trader in the retail CFD industry.

Fact-checker Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.