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Posted by IB Salvatore on 04-23-12 04:34 AM:

India - Interactive Brokers

Elite Members,

I wanted to update any Indian residents or NRIs looking for a broker of some changes IB has made to accommodate the needs of Indian traders.

In additional to a complete overhaul of our services for India customers, from application on boarding to daily trade support, some of the improvements worth mentioning are the following:

1. A dual account structure that allows customers to access their IB accounts for global trading along with their India accounts from a single login that will allow you to trade products from any region on the same screen side by side.
2. A new minimum of 2,000 USD equivalent for IB India accounts and 5k USD for global accounts for India residents.
3. 3 month waiver of the $5 USD equivalent monthly minimum activity charge.
4. New lower commissions available on our web site.

http://www.interactivebrokers.co.in/en/main.php

While it’s best for existing customers to continue to communicate with IB through the Inquiry system in Account Management, more general and strategic topics can be raised here for conversation.

I look forward to your input.

Salvatore Recco
Head of Institutional Services, Asia Pacific
Interactive Brokers LLC

Posted by freedinner on 04-25-12 09:49 PM:

Why don't you just offer trading in India to all your customers, taking advantage of the new rules allowing foreigners to invest directly in the indian stock market since the start of the year?

http://www.bbc.co.uk/news/business-16380820

Then you no longer need a "double account structure", just the good old universal account. And obviously, you get additional commission revenue from customers you already have using the indian trading infrastructure you already built.

Posted by Bob111 on 04-25-12 10:20 PM:

likely due some regulations(or possible law conflicts) on US side.
to 'protect' US investors..you know..usual story..

Posted by def on 04-26-12 01:50 AM:

Quote from freedinner:

Why don't you just offer trading in India to all your customers, taking advantage of the new rules allowing foreigners to invest directly in the indian stock market since the start of the year?

http://www.bbc.co.uk/news/business-16380820

Then you no longer need a "double account structure", just the good old universal account. And obviously, you get additional commission revenue from customers you already have using the indian trading infrastructure you already built.

unfortunately it isn't as simple as that or we would offer access immediately. The Indian regulations are still in flux and there are a bunch of restrictions and qualifications on the operations/custody side that prevent this for now. We're naturally working on opening up as it's a no brainer for us as IB has a fully operating company in India. The best I can say, is hopefully soon.

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Posted by Agassi on 04-26-12 03:51 AM:

i am indian...so i know how things work.

just bribe them ! that's it. in usa when a cop pulls u over, u have to pay the ticket, go to court...etc.. In india, u simply negotiate a rate and pay him cash. it's a win-win situation.

India is wonderful in this aspect. only crooks can survive.

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Posted by Bob111 on 04-26-12 04:02 AM:

Quote from Agassi:

i am indian...so i know how things work.

just bribe them ! that's it. in usa when a cop pulls u over, u have to pay the ticket, go to court...etc.. In india, u simply negotiate a rate and pay him cash. it's a win-win situation.

India is wonderful in this aspect. only crooks can survive.

s**t ...sounds like Russia..but where is win-win situation????

Posted by freedinner on 04-27-12 09:58 PM:

Quote from Agassi:

i am indian...so i know how things work.

just bribe them ! that's it. in usa when a cop pulls u over, u have to pay the ticket, go to court...etc.. In india, u simply negotiate a rate and pay him cash. it's a win-win situation.

India is wonderful in this aspect. only crooks can survive.

Hahaha are you serious?

The last thing we need is IB following in Corzine's foodsteps skirting the rules and looking for loopholes and shortcuts.

As long as I know they are working on it, I am happy to wait until things are resolved the right way.

Posted by 4thaugust1932 on 04-29-12 05:28 PM:

Quote from Agassi:

i am indian...so i know how things work.

just bribe them ! that's it. in usa when a cop pulls u over, u have to pay the ticket, go to court...etc.. In india, u simply negotiate a rate and pay him cash. it's a win-win situation.

India is wonderful in this aspect. only crooks can survive.

"If you want to tell people the truth, make them laugh, otherwise they'll kill you." --Oscar Wilde

Posted by 4thaugust1932 on 04-29-12 05:30 PM:

Quote from freedinner:

Why don't you just offer trading in India to all your customers, taking advantage of the new rules allowing foreigners to invest directly in the indian stock market since the start of the year?

http://www.bbc.co.uk/news/business-16380820

Then you no longer need a "double account structure", just the good old universal account. And obviously, you get additional commission revenue from customers you already have using the indian trading infrastructure you already built.

http://business.rediff.com/report/2...at-accounts.htm is simple & better.

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