I was wondering if anyone is using the strategy of buying stocks on IB and periodically transferring a part of their portfolio to Ameritrade in order to keep the assets diversified between the two.
My main motivation for doing this is because a) I don’t want to be totally dependent on IB, b) While IB is a large broker in Swiss context, it is not really that large by US standards (not even in top 5), especially for retail investors (For example, none of my US relatives have ever heard of it). In my opinion, politically it is definitely not too big to fail. I suspect that there would be far more motivation amongst politicians to make sure everything is sorted properly if Ameritrade had issues compared to IB. c) More likely, IB will get taken over by one of the top 5 at some point and then we don’t know what will be the new rules.
From what little research I did, it looks like there are no fees to transfer partial positions from IB to Ameritrade. I wanted to diversify my brokerage for some time now. Ameritrade seemed like a good option, but I was hesitant as transferring funds from CH did not seem as straightforward (or cheap) as in IB.
But, doing it this way should avoid the hassle of transferring funds and if still possible, I can do it in reverse whenever I want to liquidate (which won’t be till retirement).