As IB website doesn't mention a HK company and I'm more familiar with HK ltd that Llc, I thought more of their HK office as a registered Hong Hong office of the US company. http://www.by-cpa.com/hk/biz/hk_osco.html As they open account with IB US (at least that waht I thought I opened there ?!?) I'd suppose that account to be insured following the US regulations. But it wouldn't be the first time I get the wrong idea. Note as well that when I went to the HK HSBC office to transfer some HK shares from my HSBC account to the new IB account, I had to call IB's office as the HSBC clerk couldn't find Interactive Brokers in his list (of HK registered brokers ?). They were actually to be transferred to Timber Hill (HK ?). With US stocks, are the shares held on the name of IB or Timber Hill ?
luisHK, see the Rules and Provisions (#13) section here: https://www.interactivebrokers.com/...ion.formSampleView?file=HKRegulatoryInfo.html It appears that Hong Kong currency traders are also subject to the laws and regulations of the country that issues the currency. Is that provision unique to Hong Kong?
I don't know... reading this I don't even know under which scheme cash held on a IB account in cad/eur/usd etc... by hong kong traders would be insured if at all. I guess also if you open a account with IB in HK but trade through a non HK corporation or are not a HK resident, those provisions don't apply except for the money linked to HK products. Besides it appears in IB llc in HK is indeed registered as an overseas company while Timber Hill is incorporated locally : "IB" means Interactive Brokers LLC, an overseas company registered with the Securities and Futures Commission as a Dealer and also registered in the United States as a brokerdealer with the U.S. Securities and Exchange Commission and a Futures Commission Merchant with the U.S. Commodity Futures Trading Commission; " "THSHK" means Timber Hill Securities Hong Kong Limited, an entity registered with the Securities and Futures Commission and a member of the SEHK, HKFE, HKFE Clearing House, SEOCH and HKSCC; THSHK is an affiliate of IB.
Sure if the account is with of a Canadian broker who belongs to CIPF http://www.cipf.ca/Public/CIPFCoverage/CoveragePolicy.aspx
By the way all PFG Best Canada accounts have already been transferred to R.J. O'Brien Canada with no loss. http://www.iiroc.ca/Documents/2012/d3bdd102-a08d-4e87-ad5c-9305ab06c37b_en.pdf
Or with the foreign affiliate of a Canadian broker who is a Member, it seems like. Customers introduced to a Member by a foreign affiliate of the Member, in accordance with SRO requirements, are customers of the Member eligible for coverage.
FWIW I phoned IB Canada enquiring about an account opening for a BVI company and was told to contact IB Llc. It seems IB Canada only opens accounts to canadian residents.
Canadian brokers are unable to accept U.S. accounts because the CFTC forbids it and prosecutes foreign brokers who accept accounts of U.S. residents. The CFTC has a dozen law suits against foreign brokers currently underway against foreign brokers who accepted U.S. clients.