Question about switching to IB

Discussion in 'Retail Brokers' started by rspst14, Jul 30, 2008.

  1. rspst14


    Hey guys, I'm thinking about switching my account from Etrade to Interactive Brokers, I was wondering if IB has different options approval levels the way Etrade does? My Etrade account was approved for level IV options, but they're the only broker I've used in ten years of trading, so I don't know if that was an Etrade thing or if all brokers assign these types of permissions to option traders.

    I don't want to switch everything over unless I know for sure that I'm going to be able to trade the same way I do now, can an IB customer clear this up for me? Does an approved account mean that you can trade using all available options strategies, or do you have to request the highest permission level and hope they approve you for it? Any help would be appreciated. Thanks.
  2. kinosh


    AFAIK, IB doesnt have levels. You check options permissions and you trade whatever strategy you like.
  3. I did the same switch. Just you need write that you have longer experience than 3 years or something like that in form