How to fund an Interactive Brokers account in 2020 (Part 1)

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Funding your Interactive Brokers account is not a difficult task. Yet first time users should benefit form this in detail tutorial

Assuming creating your account went well and was approved

You can now access Interactive Brokers home page https://www.interactivebrokers.com/en/home.php and go to log in the portal

Proceed to log in with your credentials. This includes account, password and a security code that you get via sms with every login

After you log in, go to the Menu, Transfer and Pay and Transfer Funds

Select deposit Make a Deposit

You can then proceed to choose the currency you want to deposit in.

And the method you want to use ( Direct Connection to your bank account – Bank Transfer – Online Bill Pay – Check )

Since i am in the European Union, i will opt for wire transfer using Euro. This method insures i will get the funds in 1-2 business days. But once the account is funded i will have to convert the sums into USD. The good part is that when you use a broker you also get access to international transfer rates so i will not lose much in commissions.

If you are in the US or another part of the world you might find it better to fund directly into USD . Any stocks you buy on the US market will be denominated in dollars.

Next you will specify the bank you are sending from. The account number (it’s optional) and the sum.

People that want to fund their Interactive Brokers account each month, can select yes on the last option (would you like to make this a recurring transaction).

When everything is done press Create Deposit.

Next you will receive all the details you need to make a wire transfer with your local bank

The next tutorial will deal with the other part of the funding process. Your bank/payment processor

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