Transferring my account from TDA to IBKR via ACATS

Transferring my Account from TD Ameritrade to Interactive Brokers via ACATS Transfer

Recently, TD Ameritrade Singapore have decided not to serve commoners like me as seen in Straits Times here.

What's worse, after October 27 this year, they will charge like 50USD if we don't become an accredited investor (I think it is harder than just deciding to change to one, though I do I hope get there one day). 

While I can kinda understand why, considering what I hear from peers that they have accounts with Interactive Brokers/Tiger/Moomoo and they found TDA quite hard to sign up for, as well as the recent rush to the bottom with zero commissions.

This is still extremely disappointing for me as when TDA open its offices here, I actually signed up pretty much straight away.

The thinkorswim desktop UI is like SO MUCH better than any of the brokers here, wish maybe IBKR or even FSMOne can pickup the slack.

I chose IBKR because I wanted to switch to them for my HK shares and just after I switched to Tiger, they removed the account minimum fee (FML). 

I would think that IBKR offers the closest experience I have to TDA in terms of charting + desktop setup (there's still quite a few gaps). Would be great if their mobile app is like this too (like TDA).

A transfer using ACATS takes 1-2 weeks.

We are only about a month away, and time is of essence so let's get to it. IBKR tried to remind me too.

This is for those who wish to do a FULL TRANSFER, which includes cash. So no need to wire out your funds.

This is using Automated Customer Account Transfer Service (ACATS) which is kinda like a standardised and more automated process to allow customers to switch between brokers in the US.

So first log into your account (if you don't have one you can sign up here):

And you will enter the Client Portal, and click on "Transfer & Pay".

Select "United States" in the dropdown box. Then Select the section with ACATS.

Here select "TD Ameritrade" and enter your account number.

Select your account type based on what you registered at TDA (mine is Individual).

Do not save broker information as it won't allow you to proceed.

Finally select yes "Transfer all Assets". You need to authorize the removal of certain mutual funds, and if you are just me who just have shares, cash and maybe ETF, this shouldn't impact you.

I don't have Micro-Cap stocks, so I selected No. There's a link there to check if you are unsure.

They will have a page to verify what you entered and ask for your signature. The signature is just what is written beside the box which should be in all CAPITAL LETTERS. Just follow that.

A confirmation page will appear with a reference number. You can save it if you like.

Conclusion

That's all for the transfer process.

TDA might contact you to confirm the transfer after that.

I am considering to write another short writeup on setting up the account subscriptions and probably the desktop layout.

If you want to open an IBKR account, you can use my referral link here too.

Hope it helps.