For some years now IB has not been allowed to offer Margin Accounts to individuals who are Australian residents.
What IB may not know is that these restrictions seem to have been lifted in Australia. As you will see below, major brokers in Australia are now offering Margin Accounts with no such margin restrictions for Australian residents.
Based on this, it would seem to be a contravention of the ACCC anti-competitive behaviour policy
to allow this for local Brokers, but not allow IB to do the same when operating in the same country.
Could you please investigate and raise this with the authorities in Australia?
I (and several of my colleagues) are at the point now, where if there is no news soon, we will be forced to close our IB accounts and transfer to one of the brokers below just so we can obtain a margin account. This would be regrettable. Thank you.
Australian Brokers offering Margin Loans