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How to register for an IB account?

Discussion in 'Brokers' started by warakawa, Apr 10, 2012.

  1. warakawa

    warakawa Well-Known Member

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    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. Peter2047

    Peter2047 Active Member

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    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. warakawa

    warakawa Well-Known Member

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    Re: how to register for a IB account?

    so basically their application requirements will not be strictly enforced?
     
  4. IFocus

    IFocus You are arguing with a Galah

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    Re: how to register for a IB account?

    Not in regards to your trading history
     
  5. warakawa

    warakawa Well-Known Member

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    Re: how to register for a IB account?

    what about knowledge requirement?
     
  6. skc

    skc Well-Known Member

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    Re: how to register for a IB account?

    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. warakawa

    warakawa Well-Known Member

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    Re: how to register for a IB account?

    Ok, I see. I don't intent to be a frequent trader at the moment. Guess IB isn't for me for now.
     
  8. Steve C

    Steve C Well-Known Member

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    Re: how to register for a IB account?

    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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