IB account registration

Discussion in 'Retail Brokers' started by privador81, Feb 23, 2012.

  1. I have retail account , but i want to open inst, account for my company
    It asks several DOCUMENTS that makes me insane

    a)When it askes me PROOF OF ADDRESS. I selected bill
    My internet bill is e-BILL. So i dont have physical document i cant print it-but IB are not satified with it!
    b)IB wants PROOTH that i can make margin trades. How can receive such documents?
    c)IB wants PROOTH that trader have authority-i am 100%owner as well
    How can i prooth that?

    I have one-man company, but so much paper mess
  2. rmorse

    rmorse Sponsor

    This is all very common. It has to do with the "know your customer" rule and Anti-money laundering procedures. They could be a little more helpful.

  3. JamesJ



    Hey there, had to do all that stuff as well, proof that you can make margin trades can be given by proof that you had personal acocunt with them and thus experience.

    You have some trade register excerpt or something for proof of ownership.
    I wrote a statement saying (in the name of company XY, we hereby verify that Mr. XYZ is authorized to trade the companies accounts... signed Mr. XYZ (CEO))
    Sounds like weird, but hey...
  4. Welcome to Interactivebrokers! Be prepared to go through this rigmarol every time you change your address, email, etc... or whenever an account rep just feels bored and is looking for some busywork.
  5. slumdog


    I opened a company account with them.

    a) For a) i sent a copy of my bank statement, you need a bank account for your company for sure, so you should get a paper bank statement at some point. I deliberately didnt select 'online only statements' from my bank as i knew IB (and maybe others) will want paper statements as proof.

    b) & c) These were just signed company board meeting resolution minutes saying the company is authorised to: open a margin account with IB, trade on margin and Mr slumdog is authorised to trade the account etc. As director/owner i then sign the minutes of the meeting. Circle the required text and forward a copy to IB.
  6. JamesJ


    I've done exactly the same...
    seems kind of strange to give yourself (as company officer) the autorisation to trade
  7. Bob111


    yep. what paper mess? 2 letters from your company,signed and sealed by you . one -for give you authorization to trade, second-authorization to open a margin account. no big deal
  8. thx for help

    I think i have to go to the bank, and hopefully i get somekind of prooth

    But thats weird. I got e-bill for my bill. Apparently i should print that e-bill and scan back to computer...mayby IB is ok then...
  9. Bob111


    use spell check for sake