How Many of You Lied to IB?

I tried to sign up for an account with IB and it wouldn't let be because I didn't meet "the financial requirements."

I'm curious about what exactly are their requirements. Is it basically an accredited investor?

I know all you people around here using IB don't have million dollar net worths!!!! Liiiiars!!!!!!

 

Wait a sec.... what does IB require as net worth to open
an account now???


peace

axeman

 

I don't know. It asked net worth, liquid net worth and yearly income.

I saw MBTrading has the following requirements:

Minimum annual net income and liquid net worth is $50,000

This is stupid. What does IB or any other brokerage care what my net worth is? Oh, and considering I put 200k as my net worth, I'm curious WTF they're looking for!

 

Why dont you ask them? Would be interesting to know.

peace

axeman

 

put down 5k and see, theoretically your '0' key could get stuck many time when you type.

 

haahaa, that's funny.

I don't think you had to be an accredited investor one year ago.

 

Go to Genesis. IB doesnt want the smaller fries anymore it seems.

Better commissions, an API, and it sounds like a better trading platform.

What more do you want???


peace

axeman

 

You definitely didn't have to be an "accredited investor" two years ago. But IB didn't seem to be "small investor"-friendly then, and if anything is even less so now.

 

I don't know if they're unfriendly to small investors or not, but I'm inclinded to think it's just legal ass covering.

They don't want anyone down the road to accuse them of taking advantage of small investors.

 

Quite sure you don't have to have 1 million net worth or anything like it to open an account.

Of course, I've been there since 2000, when a stick of gum and bus fare were the minimums.