There is no requirement in law or morally for IB to provide you with anything , it's a business transaction , if you don't like it trade with someone else, simples.
I was just pointing out the lack of logic in NOT supporting AUS based clients. That s is all. Of course I know that there is no law which says they must do business in any particular country It was customer feedback..
Yes they are and I am still a client main reason is single account / low comms etc but customer service ! better not talk about it and haphazardness in service in AUS. Not being able to have simple Margin A/c is ridiculous ASIC treats everybody equal Leverage of 1:3 for equity is normal retail in AUS has been for decades AND has nothing to do with the being a Bank or not.. infact for a giant like IB many Banks will be willing to provide that
I sympathise , but you have to be pragmatic , I have to put up with the vagaries of EU rules , ( I turned £20 into £2000 in the month before the EU banned binary bets,( cmc spreadbet binaries) and I believe they are the limiting factor on the margin I get on IB cfd's , of course I suppose I could try and persuade UK to leave EU , but what are the chances ?
yes I am pragmatic that is why I am still with them.. all I am point out is the excuses given by IB here are lame excuses in an somewhat well maintained jurisdiction like ASIC they should be able to be fully compliant easily and provide the services that other are already providing
Personally I never underestimate the profit motive , if there was money in it for them , I suspect they would do it.
@kakao Ok I spent some time and broke it into steps. 1. Select the CFD you want, https://ibkb.interactivebrokers.com/article/1984 2. Enter it in TWS. (enter the CFD symbol e.g. IBUS500 and choose CFD) 3. Choose BUY or SELL (right click on symbol) 4. "review order" or "check margin impact" (right click on the order line) When you check the margin impact it will open a little java window for updating trading permissions. This got a little slow so I went directly. Alternative to Step 4 - Directly updating trading permissions (you could do this first) https://ndcdyn.interactivebrokers.com/AccountManagement/AmAuthentication?action=TA_TRADE_PERM_BETA Select "complex leverage products" -I am guessing that this is the right choice but I've added them and will await their approval - this can take a day or two so. Note: 1. IB posted a warning that 65% of (UK?) customers lose money with CFDs. 2. Always trade a new product in sim mode for a while to see how it goes before trading with real money. Good trading to all!
ib the best for algorithmic options. that is for sure. however they are not obliged legally or morally to be the best