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  1. #1

    Default How to register for an IB account?

    hello all.

    I want to open an individual account with IB trading, but they have requirement as below

    Good or extensive product knowledge for any product you wish to trade.
    Prior execution of 100 or more trades (any product).
    A minimum equity deposit in cash or stock of USD 10,000 (or USD equivalent) or USD 5,000 for IRA Account (or USD equivalent).

    I have not began the application process, but for those who already have an account with them, how to I prove that I have a good or extensive product knowledge and prior execution of 100 or more trades?

    Thanks

  2. #2

    Default Re: how to register for a IB account?

    If I remember correctly, you just need indicator the number of trades in one of the boxes. Just provide a number that meet their minimum requirement. You also need to email to them your ID or driving license and proof of address. For proof of address, I used my phone bill. Or any billing letter that has your name and address. Avoid sending your credit card bill.

  3. #3

    Default Re: how to register for a IB account?

    Quote Originally Posted by Peter2047 View Post
    If I remember correctly, you just need indicator the number of trades in one of the boxes. Just provide a number that meet their minimum requirement. You also need to email to them your ID or driving license and proof of address. For proof of address, I used my phone bill. Or any billing letter that has your name and address. Avoid sending your credit card bill.
    so basically their application requirements will not be strictly enforced?

  4. #4
    You are arguing with a Galah IFocus's Avatar
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    Default Re: how to register for a IB account?

    Quote Originally Posted by warakawa View Post
    so basically their application requirements will not be strictly enforced?
    Not in regards to your trading history

  5. #5

    Default Re: how to register for a IB account?

    Quote Originally Posted by IFocus View Post
    Not in regards to your trading history
    what about knowledge requirement?

  6. #6
    skc's Avatar
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    Default Re: how to register for a IB account?

    Quote Originally Posted by warakawa View Post
    what about knowledge requirement?
    It's for your own good + cover their own backside. They won't audit you if that's what you are asking about.

    IB is most appropriate for the more experienced and frequent traders - the fact that they charge an inactivity fee means that they are trying to sieve out those who are not their target market.

  7. #7

    Default Re: how to register for a IB account?

    Quote Originally Posted by skc View Post
    It's for your own good + cover their own backside. They won't audit you if that's what you are asking about.

    IB is most appropriate for the more experienced and frequent traders - the fact that they charge an inactivity fee means that they are trying to sieve out those who are not their target market.
    Ok, I see. I don't intent to be a frequent trader at the moment. Guess IB isn't for me for now.

  8. #8
    Formerly known as 'sc87' Steve C's Avatar
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    Default Re: how to register for a IB account?

    Quote Originally Posted by warakawa View Post
    Ok, I see. I don't intent to be a frequent trader at the moment. Guess IB isn't for me for now.
    I am in the same boat - what can users recommend? Commsec brokerage and conditional order fees would eat up any noob profits I would be able to make..

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