With the new announcement of the closure of retail accounts that arent under Accredited Investor status, has anybody managed to:

1) Transfer existing stock positions to other US brokers like IBKR?
2) Withdrawn their cash balances from TD to their own banking accounts?

Ive submitted requests for both last week but have yet to get any response.

1) done, completed in 1 -2 business day.
2) done , 2-3 business day. wasted one more day as Maybank need TD statement(due to 6 figure, if 4 figure they just credit only). And another day hold up in Maybank (can see money but cant withdraw until next day).

make sure you declare the right amount liquid assets, i declare lesser than the incoming transfer assets. So have to re-declare. Wasted one day.

When did you put in the application? How did you do it?

Last week.
If you plan to withdraw cash, better execute cash withdrawal first. Until your local bank clears the transfer. We dont want later cash returned back to your TD but your account is closed. Also download your TD statement first and submit to your local branch bank officer first and inform them there are incoming funds.

After you get all your cash, login to your IBKR, transfer position, input TD account information, check transfer all, sign.
Wait for next day, you should have the assets there already.

Once all is transferred, your TD account should be unable to login. That why better download statement first for your own references.

That is what i did.

I did the bold part and IBKR said I must instruct TD to authorize the transfer. I filled in the TD form and emailed them. Plus sent 2 reminder emails yet no reply and no action.

This post has been edited by cybermaster98: Oct 5 2023, 02:51 PM


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hmmm i didnt encounter this issue. Maybe giving them a call would be better?

I tried but the wait time is approx 1.5 hours. I requested withdrawal of my funds to Maybank and TD asked for my bank statement which i provided via email on Monday 2 Oct. Until now zero response. No queries from Maybank too.

Does Transfer All Assets from TD to IBKR include cash or is it only stock positions?

all... inc cash...

i requested the cash withdrawal to Maybank on 26th Sept
2nd Oct i personally went to home branch to pass the statement, they told me got call me and left me a voice message on 29th but i didnt notice.
2nd Oct itself can see the money.
3rd only can move the money.

BTW did they acknowledge the email or not ?

I did the wrong transfer. Ive just done the full ACATS transfer (USD cash and US stocks). Lets see now.

What do you mean wrong transfer?

What did you do wrong previously and the right one is ACATS is it?

I haven't opened an IBKR account. Mind confirming the IBKR link is this

https://www.interactivebrokers.com/en/home.php

Is it easy to open account there?

I submitted by withdraw request on 27 Sept, but haven't receive any money back in Maybank yet. Anyone know why? This is my first withdrawal, and i did reply back to the email on bank statement.

Why didnt you do a ACATS transfer of your entire account to IBKR or equivalent?

I thought this is the correct of way of transferring?

I m opening my IBKR account and plan on doing ACATS transfer

Took just 3 business days for the full ACATS transfer from TD to IBKR. Quite fast and efficient.

money already transferred in, was quite fast

would like to ask, i have done a partial withdrawal of cash to Maybank, manage to see the fund come in, but cannot use. call customer service, ask me email the branch the statement, after email the branch say this is a forex, how to deal with it? plus mentioned amount is too big, the actual amount in rm is less than 15k...


I am planning to transfer to charles schwab, by November will fully function Think or swim platform. Try IB before, does not like it, due to surprise charges, delayed market data, not user-friendly

This post has been edited by tkwfriend: Oct 14 2023, 01:34 AM

Be careful bringing in money from oversees. Malaysia money laundering laws is very strict. Money can come in but they will block it. Thats why i did a full ACATS transfer from TD Singapore to IBKR LLC (US) which includes stocks and cash. Not just stocks. Full ACATS transfer from TD to IBKR took just 3 business days.