Can holdings in a money market fund subject to the $10,000 order minimum be closed or transferred if the balance is less than $10,000?

You must fund your live account according to the market data subscription minimum and maintenance equity balance requirements and subscribe to a live market data package in order to receive live market data in your paper trading account.

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Retail Money Market funds are only available to Natural Persons (i.e. cannot be Legal Entity, Org, etc.). Any account that does not qualify as a natural person will not have their Money Market orders accepted even if the account has US – Mutual Fund Trading permissions approved. Money market funds require a minimum investment of $10,000 and orders must be placed in increments of $10,000…

Money Market Fund shares are non-marginable and have a 100% requirement for the first 30 Days. Money Market Funds held less than 30 days can be used to meet margin requirement, but they cannot be used to extend credit. To comply with this requirement, IBKR will reject a Money Market Fund Buy order that would result in a negative cash balance since you can't buy Money Market Fund shares on credit. Once a Money Market Fund position has been established and is held past 30 days, IBKR does not restrict purchases of other securities if those purchases result in a negative cash balance. The purchases of other securities will be allowed, but IBKR will then liquidate part of the Money Market Fund shares to cover the negative cash balance. This is done once a day, one minute before the deadline for submitting mutual fund orders. Once the Money Market Fund shares are held more than 30 days they will have a 5% margin requirement. …

Yes.

If a fund accepted you as an investor, IBKR can transfer the investment directly from your IBKR account to the fund’s account (with the approval of the fund and its third-party administrator, and in accordance with your and the fund’s instructions). IBKR will process transfers of $25,000 or greater. Funds may set their own minimum investment requirements…