I finally got a reply after asking them repeatedly.They stated that due to new regulatory and compliance requirements they cannot continue to support accounts in my jurisdiction.I am a non US citizen.
tonyf, eric41, anakreonts, Archvile, Let's compare how much commissions we paid in the last 3 and 12 months! Please write bare commissions only without market data fees, research and news fees, margin loan fees, borrow fees, etc. $10 monthly activity fees are counted as commissions. My data: 3 months: $30 12 months: $120 Please write your data! I believe the August 12th mass closing of European accounts has a direct connection to this. If so, there is a way to reverse what happened, but we need the data. Original letter:
They can do whatever they want, and you can as well. I started a new thread to explore alternatives here: https://www.elitetrader.com/et/threads/0-option-trading-mega-thread-brokers-list.348774/
Could this be a reason why they are closing non-US accounts ie fear of holding money laundered accounts from outside the US where they have no power to verify if customer deposits are from washed cash?Maybe they decided to become weary of foreign accounts after paying this fine this week Interactive Brokers to Pay $38 Million Over Anti-Money Laundering Claims https://www.wsj.com/articles/sec-in...-file-suspicious-activity-reports-11597081197 Anyway no need to speculate.Just move on to a new broker.Does anyone know of a non-US citizen who hasnt had his/her account closed?
The account was closed and an LLC was formed instead. I believe after you're flagged for this, there's little you can do aside from long and expensive court battles.
Mine wasn't related to short selling back then, it was the issue of accessing a family members account (with their permission).
Also received an anti-money laundering request for information...source of funds and proof of identity. Seems like it's related to the court case but you never know. Seems like whatever happened, happened to EU accounts.