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Cancel INTERACTIVE BROKERS
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I hereby notify you of my decision to terminate the contract relating to the Interactive Brokers service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation Interactive Brokers: Easy Method
What is Interactive Brokers
Overview
Interactive Brokers (IBKR) Singapore is the local arm of a global online brokerage that provides trading in stocks, options, futures and other instruments across many markets.
IBKR is known for low commission rates, broad market access and professional trading tools accessible via its web Client Portal and trading platforms.
How IBKR operates in Singapore
IBKR Singapore offers account custody and execution services from its Singapore entity, with client funds segregated and trading supported on global exchanges.
Account services, feature activation and closures are managed through IBKR’s Client Portal and support channels rather than in‑app store subscriptions.
How to cancel Interactive Brokers
Cancel / close an account (step-by-step)
- Log in to Client Portal (Account Management) and navigate to account settings or account closure tools.
- Withdraw all cash and transfer or sell all positions before requesting closure to avoid delays.
- Submit an account closure request via the Client Portal or file a web ticket through the IBKR website.
- If needed, contact IBKR support by phone listed on the IBKR Singapore site to confirm closure steps.
Cancel services or features
- Disable optional services in the Client Portal (market data, research, add‑ons) from service or subscription settings.
- There is no App Store or Google Play “cancel subscription” for IBKR because services are managed on the web portal.
- Confirm changes with support ticket if a service shows as active after you disable it.
Trade cancellation (bust) requests
- Submit a Trade Cancellation Request via Account Management immediately and ideally within 30 minutes of execution.
- IBKR handles bust requests on a best‑efforts basis, subject to exchange rules; telephone/email requests lower acceptance chances.
- Expect exchange and IBKR fees to apply for successful busts or for processing attempts.
What happens when you cancel
Access and account state
After a closure request, you typically retain read access to account records for a limited time while final settlements are processed.
IBKR may keep the account open for a short period to capture residual fees, dividends or corrections before permanent closure.
Funds and positions
You must withdraw cash and transfer or liquidate positions before closure; unresolved positions or pending corporate actions can delay final closure.
IBKR does not charge withdrawal fees for many transfers in Singapore, but specific transfer fees may apply (see pricing).
Record retention and reports
Transaction history and statements remain available for a period after closure; request final statements or copies if you need long‑term records.
Paper statement requests may incur fees as listed on IBKR Singapore pricing pages.
Will I get a refund?
General refund policy
There is no standard 14‑day cooling‑off or automatic refund right for IBKR account services in Singapore.
Unlike some jurisdictions, IBKR Singapore does not advertise a statutory refund period for account openings or ongoing brokerage services.
Exceptions and possible reimbursements
- Refunds or credits may occur for billing errors or incorrectly charged services if validated by IBKR support.
- Trade busts, if accepted, can result in reversal adjustments but may still incur exchange or processing fees.
Withdrawals and account closing timing
Withdrawals by bank transfer are typically free or low cost for SGD transfers; check the current fee table before initiating large withdrawals.
After final withdrawal, the account often remains open for about three months to allow IBKR to capture residual activity before permanent closure.
Interactive Brokers plans and pricing
Pricing summary table
| Plan | Price | Period | Features |
|---|---|---|---|
| SG Stocks - Fixed Pricing | 0.08% of trade value (minimum S$2.50 per trade) | Per trade | Fixed-rate commission on Singapore stocks/ETFs, no platform fee, no account minimum |
| SG Stocks - Tiered Pricing (Tier I) | 0.08% of trade value (minimum S$2.50 per trade) | Per trade; for Monthly Trade Value ≤ S$2,500,000 | Same as Fixed for low volumes |
| SG Stocks - Tiered Pricing (Tier II) | 0.05% of trade value (minimum S$1.30 per trade) | Per trade; for Monthly Trade Value > S$2,500,000 up to S$50,000,000 | Volume discount when monthly trade value increases |
| SG Stocks - Tiered Pricing (Tier III) | 0.03% of trade value (minimum S$1.00 per trade) | Per trade; for Monthly Trade Value > S$50,000,000 up to S$150,000,000 | Greater volume discount |
| SG Stocks - Tiered Pricing (Tier IV) | 0.02% of trade value (minimum S$0.70 per trade) | Per trade; for Monthly Trade Value > S$150,000,000 | Best volume discount tier |
| Telephone Order (Asia‑Pacific) - Close Position | S$40.00 per order | Per order | Additional to normal commission, for closing orders placed via telephone |
| Withdrawal - Bank Transfer (SGD) | S$1.00 per transfer | Per transaction | Electronic funds transfer withdrawal fee |
| Monthly Statement (SGD) | S$25.00 for first statement, S$5.00 for each additional | Per statement, monthly | Paper statement issuance fee in SGD |
| Singapore Central Depository Position Transfer (Inbound or Outbound) | S$10.90 per transfer counter | Per transfer instruction | Fee for moving positions in or out of IBKR to CDP |
Notes on pricing
All pricing is based on IBKR Singapore official pricing as published and may be subject to GST (9%) where applicable.
There are no regular monthly or annual platform subscription fees listed for Singapore accounts; most charges are per transaction.
Your consumer rights in Singapore
Cooling‑off and refund rights
Singapore law and MAS regulations do not create an automatic 14‑day cooling‑off or refund right for brokerage services.
IBKR Singapore’s lack of an explicit refund policy for account openings aligns with local norms, but you retain complaint and dispute procedures.
Protection of client assets
IBKR segregates client funds daily and provides investor protection measures consistent with international custody practices.
Assets custodied at IBLLC may have SIPC coverage up to US $500,000 (with additional excess coverage), with IB Singapore facilitating claims where applicable.
Filing complaints and escalation
- First file a complaint through IBKR support or the Client Portal.
- If unresolved, escalate through IBKR’s internal dispute resolution channels and consider MAS guidance on financial consumer complaints.
Customer experiences
Positive feedback
- Users often praise IBKR for competitive pricing, wide market access and strong reporting/automation capabilities.
- Some Singapore reviews highlight low trading costs and access to international exchanges and ETFs.
Negative feedback
- Common complaints include slow or unresponsive customer support and difficulties with withdrawals or account access.
- Users also report complexity in the user interface and frustration when closing accounts or resolving authentication issues.
Balanced takeaway
IBKR is well suited to cost‑sensitive and active traders needing global access, but consumers should be prepared for a steeper learning curve and to use the web Client Portal for critical account actions.
Document interactions with support and keep copies of final statements when closing an account.
Documentation checklist
Before you request closure
- Up‑to‑date ID (passport or NRIC) and proof of address on file with IBKR.
- Finalise or transfer all open positions and corporate action instructions.
- Withdraw remaining cash balances to your nominated bank account.
When submitting requests
- Keep screenshots of the Client Portal closure request or confirmation messages.
- Save web ticket numbers, support emails and call reference numbers.
- Request final electronic or paper statements for your records (note possible statement fees).
Common mistakes
Not withdrawing funds first
Trying to close an account with open positions or remaining cash will delay closure and may generate extra fees.
Always transfer or liquidate positions and withdraw cash before submitting the closure request.
Assuming in‑app store cancellation applies
IBKR services are not managed via App Store or Google Play subscriptions in Singapore; attempting cancellation there will not close your brokerage account.
Use the Client Portal or IBKR support channels instead.
Delaying trade bust requests
Waiting too long to submit a trade cancellation (bust) request reduces the chance of acceptance; submit promptly via Account Management.
Telephone or email requests for busts are less likely to be accepted and may still incur fees.
Comparative recap
Comparison overview
The table below contrasts key aspects of IBKR Singapore against general expectations for retail brokers.
This is a high‑level recap to aid decision making before cancelling or moving accounts.
| Aspect | IBKR Singapore | Typical retail broker |
|---|---|---|
| Costs | Low per‑trade commissions; tiered discounts for volume; transaction fees listed. | May have higher per‑trade fees or monthly platform fees. |
| Account closure process | Close via Client Portal or web ticket; withdraw funds and transfer positions first. | Processes vary; some brokers may offer simpler phone closure or branch support. |
| Customer support | Mixed reviews: strong tech resources but reports of slow support response times. | Varies widely; some provide dedicated local service teams and faster response. |
| Protection of assets | Daily segregation; SIPC coverage for assets at IBLLC (US$500k) and excess coverage in place. | Many regulated brokers segregate funds; levels of additional protection differ. |
After cancelling
What to keep
Save final account statements, trade confirmations and any closure confirmation emails or ticket numbers for your records.
Monitor your bank account to ensure final withdrawals arrive and no unexpected fees appear.
Useful official links
Address
Registered office
Interactive Brokers Singapore Pte. Ltd.
1 Harbourfront Place, #12‑01, Harbourfront Tower One, Singapore 098633
Contact and further steps
Use the Client Portal to submit closure requests or web tickets and refer to the official pricing/fees pages linked above for current charges.
Keep copies of all correspondence and final statements for at least several months after closure to handle any post‑closure adjustments.