Interactive Brokers Proficiency Tests

Discussion in 'Interactive Brokers' started by Kether, Nov 28, 2020.

  1. Kether

    Kether

    Does anybody know how to access these as I need to do them to trade options etc and can't seem to find them on their website or platform. Thanks.
     
  2. Kether

    Kether

    You need to have a certain amount of experience or prove your knowledge to access certain types of account or functions. I'm relatively new to trading so can't open a margin account or trade options without passing the tests. Problem is, I can't find the tests.
     
  3. cafeole

    cafeole

  4. Robert Morse

    Robert Morse Sponsor

    I've never heard of a test to trade options in a customer account. Is that a UK regulation? We have requirements to be approved for different option levels but they are based on Financials, Investment objectives, and Risk Tolerance.

     
  5. ET180

    ET180

    I remember taking the IB tests several years ago. I might have only needed to take them because I said that I had zero options experience. I think they presented me with the test when I requested option trading permissions.
     
  6. ajacobson

    ajacobson

    A number of firms created proficiency tests for portfolio margin. Obviously not the same, but the tests were mostly about options. Here's an old test.
     
  7. Bad_Badness

    Bad_Badness

    I think when he took the IB Financial-Objective-Risk survey, in the drop down for options he must have said something under 10 years or beginner.
     
  8. Robert Morse

    Robert Morse Sponsor

    That is the APEX test for a PMA. As far as I know, no other clearing broker has that.

     
  9. Open a paper account and do a bunch of trades to gain the experience needed.