Last Updated on June 12, 2024 by Chin Yi Xuan

In this post, let’s explore how to withdraw the funds from your Interactive Brokers (IBKR) account via Wise.

This is the fastest and most convenient way to withdraw funds from your Interactive Brokers (IBKR) account.

This guide is especially suitable for non-US residents (eg. Singapore, Malaysia, and more) – any questions feel free to leave them in the comment section at the end of this post!


Part 1: Withdraw funds from Interactive Brokers (IBKR) via Wise

In this guide, I will demonstrate how to withdraw USD from my IBKR account via Wise. Using Wise to withdraw funds from IBKR is the fastest and most convenient method.

Perk: 1x FREE Wise withdrawal every month

What’s great about withdrawal with Wise is that 1x FREE withdrawal is allowed every calendar month.

Hence, you do not have to pay additional fees if you only withdraw occasionally from your IBKR account.

Any subsequent withdrawal within a calendar month will have a small charge of USD 1.

Interactive Brokers (IBKR) Wise withdrawal guide: 1x FREE withdrawal is allowed every month.
1x FREE Wise withdrawal is allowed every month.

Overall fee/cost involved for IBKR to Wise withdrawal:

  • Part 1: IBKR to Wise withdrawal: 1x FREE withdrawal every calendar month, USD 1 for each subsequent withdrawal.
  • Part 2: Wise to local bank account: Exchange rate + Wise fee.

Pre-requisite: Open a Wise account and make a deposit to your Wise balance

Before you begin, be sure to open a Wise account first if you do not have an account.

Be sure to use my Wise referral link below and get a free transfer on your first 500 GBP (~RM2600) transfer!

Step 1: Log in to your Interactive Brokers (IBKR) account, and select ‘Withdraw’

Step 2: Select your withdrawal currency (USD, for this example), and select ‘Transfer to Wise Balance’.

Step 3: Cross-check your Wise account details before proceeding.

Step 3 will be a one-time process. Once done, you will be able to skip this step in all your future IBKR-Wise withdrawals.

[Note for new Wise-IBKR users] If this is your first time using Wise with your IBKR account, you might not see the screenshot above. Don’t worry, there is just an additional step that requires you to connect your Wise account with IBKR first, and you will be good to go.

To learn more about how to connect your Wise account to IBKR, check out Step 3 of my Wise-IBKR deposit guide HERE.

Next, you will be required to check and confirm your Wise account details again. Once done, leave your signature AND username & password to confirm the details.

Then, you’ll be shown that your Wise bank account details have been confirmed. Select ‘Finish’.

Step 4: Proceed with our IBKR withdrawal via Wise

Select ‘Make a Withdrawal’.

Select ‘Transfer to Wise Balance’.

Proceed to key in the amount you want to withdraw from your IBKR account.

For this demonstration, I will withdraw USD 55 from my account.

You will be shown the screen below once your IBKR-Wise withdrawal is done:

Step 5: Check your Wise withdrawal status under ‘Transaction Status’

Step 6: Money arrived at your Wise account

It took about 1 working day for the withdrawal to reach my Wise account

Part 2: Transfer money from your Wise account to your bank account

Once your fund reaches your Wise account, the next thing is to transfer the fund back to your local bank account in your local currency.

For my case, I will have to convert & transfer my USD 55 IBKR withdrawal to Malaysian Ringgit (MYR) in order to send it back to my local bank account. But this method should work for most other currencies.

Step 1: Log in to your Wise account, and select ‘Send’

Step 2: Choose to send money from your Wise balance (USD)

Step 3: Determine your transfer amount, check for the fees incurred (Wise fee + Exchange rate), and select ‘Continue’

Step 4: Choose to send money to your local bank account.

Step 5: Review and confirm your transfer. You should receive your transfer in your bank account immediately once done.

Verdict – Withdrawing from your IBKR account is never easier

With platforms like Wise, it is extremely fast & convenient to withdraw from your IBKR account.

Do you have any other tips on how to withdraw from your IBKR account? Feel free to leave your tips and thoughts in the comment section below!


This review is purely based on my personal experience and is updated as of the time of writing.

This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.

Promotional Relationship Disclosure:

This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.

None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy.  Investment involves risks.  Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.

Interactive Brokers is a FINRA registered broker and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visit www.interactivebrokers.com.


Chin Yi Xuan

Hi there! I am Yi Xuan. I am a writer, personal finance & REIT enthusiast, and a developing trader with the goal to become a full-time funded trader. Every week, I write about my personal learnings & discovery about life, money, and the market.

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