re-open account with IB?

Discussion in 'Retail Brokers' started by abxs, Aug 19, 2007.

  1. abxs

    abxs

    Has anybody ever had to open a new account because his original one got closed because he withdrew money from it because he was going on a holiday for a couple of weeks/months?

    It appears they do that without single warning... you have to leave a minimum amount of money in your account otherwise they close it out, just like that.

    I figured they could at least give a warning. Now one has to go through the whole application process all over again.

    Anybody else experienced something similar?
     
  2. You gotta learn to read the fine print. THey tell you and are most specific. Perhaps IB is not for you.
     
  3. abxs

    abxs

    I was kinda hoping for a more constructive answer than this...
     
  4. We can't go back and read the fine print for you.
    Read it for yourself.
     
  5. abxs

    abxs

    I guess I can't anymore now.
     
  6. Trust me, this IS the MOST constructive answer you can get. I submit that when you change your attitude and behavior towards digging into the details BEFORE the questions arise, things will go much, much better for you.
     
  7. TRADERCJ

    TRADERCJ

    I had a similar experience. I had to move my funds out of IB for about a month. When I wanted to move funds back to them, I have to do the whole process again.
    Each broker had different rules. Last time I was with Tradestation they keep the account open for a year after complete funds withdrawal. Scottrade, keep my account open for a years with no funds.
     
  8. djxput

    djxput

    ya happened to me ...
    I didnt take the full funds out persay but ...

    I took enough out and you know how they charge you like 20 or 30$ everymonth for data even if you arnt trading.

    Well that added up over time (forgot how long I went) - and then before I knew it my account was closed down. I think if the account drops below 100$ or is it 250$ not sure best to find out.

    I had to go through the whole app process again.

    I kind of hate it how they charge your account per month even if you arnt trading. 20$ I think
     
  9. mde2004

    mde2004

    I don't get charged but $10/month which is reasonable since the commissions are so low.
     
  10. abxs

    abxs

    Lucky for me there are others who at least give me a decent answer and share some of their experiences.

    And fyi I asked two IB CSR which incidentally both told two different stories... the one said you had to have minimum 100 USD in your account the other one said 300...

    Considering you are so all-knowing perhaps you can shed some light on the matter.
     
    #10     Aug 19, 2007