IB troubles :-(

Discussion in 'Retail Brokers' started by RunTrade, Dec 1, 2005.

  1. I have attempted to open an account at IB, but they would not let me because i "do not meet the minimum financial requirements".(net worth, income, etc)... I only attempted to open a simple cash account and granted i'm just about to graduate college so I do not have a large net worth and little annual income.

    So why then, do they say you can open an individual account for only $2,000!? and that people under the age of 25 have smaller commision minimums??

    is this false advertising or am I missing something. I revised my app. to make it as simple of an account as possible...cash account, trade U.S. stocks only, seeking growth and income...
  2. growth and INCOME means you are a more of a conservative investor, not IB customer base. You may want to include your future inheritance in your net worth if you really want to open that account !
  3. well wouldnt that be discriminating if they only accepted clients with certain intentions....thats why they have a monthly minimum...but nonetheless, I just said that to see if I could continue.

    My short-term future inheritance is a bunch of college debt:p
  4. it's probably to make sure they have no liability for accepting customers unfit (with regards to objective and net worth)to invest in the products they offer
  5. Just change the parameters until they accept it.......assuming if you lose all your money you're not going to sue them.