When will IB allow Cdn. accounts? What is the hold up? Do we need to be lobbying security regulators here? Thanks
Yes it is a regulatory issue. I think IB is in the process of applying for the appropriate licenses. Personally, I have a hard time understanding how a government can not allow it's citizens the choice of using brokers that are registered overseas.
From IB website: 2001 The group's global retail, institutional and proprietary trading volume combined now exceeds 200,000 trades per day. <b>Interactive Brokers (U.K.) Limited and Interactive Brokers Canada, Inc. are formed to expand IB's activities in Europe and Canada. In recognition of the increasing scope and importance of the Interactive Brokers direct-access brokerage businesses, the corporate name of the Timber Hill Group is changed to The Interactive Brokers Group." looks like IB is already registered in Canada. This is confusing.
Forming a company and going through all the hoops and hurdles to get client approval are two different things. Believe me, I've had to deal with regulators in a number of different countries and approval never seems to come as quickly as you would hope.
Could you post here when IB has the ability to take Canadian clients. Probbly better than having me and every other canadian phone every week Thanks