IB account minimum

Discussion in 'Retail Brokers' started by shark, Aug 12, 2008.

  1. shark

    shark

    I only have $5000 to trade and i'd like to open an IB account. Their initial minimum is $10000, so I was hoping to borrow $5000, open the account, and withdraw $5000 immediately. Will this work, or do they restrict such withdrawals?

    Thanks.
     
  2. I heard of a guy doing just that
     
  3. You shouldn't have a problem doing that.
     
  4. Unbelievable!!

    The same ET-IB evangelists who chastise small-time, undisciplined, un-knowledgeable traders, in many cases applauding IBs efforts to weed-out such traders, are giving the nod of approval to the under-capitalized, unknowing newbie.

    What a bunch of hypocrites.

    Osorico
     
  5. wht does IB need a minum of 10K to open in account does not matter what are you trading - ?
    I am thinking of opening an account with IB to trade futures and stocks
     
  6. My thought is that they cater to professional traders and assume you have a minimum capital base. It is one way to prevent too many undercapitalized and inexpereinced traders to the platform.

    This is different than whether or not you need 10K to trade.
     
  7. I have kept an account with them since 1998, opened with $5k and immediately withdrew $4k since I only needed $1k to trade what I liked. I am not surprised to hear they raised the minimum opening deposit requirement, and would not be surprised if they simply raised all new account deposit minimums to $25k.