Does IB require you to have a job if you want to trade, if no, than what do you put in the employment section of your account if you’ve quit your job or are planning on quitting in the near future? Thanks in Advance.
Just say you are working as a freelance of something.... such as translator, designer, coder, hooker, ....etc. I had no issue having an account with TD Ameritrade.
Is that what you put down? How do you know that they will accept that? I just want to know if I need a job to keep trading.... thanks
As a broker, we like truthful responses. If you are currently employed but plan on quitting, you are still employed at the time you apply. If at the time you apply for an account, you are not employed and have no source of income. you can say unemployed or retired, whichever one is accurate. The problem arises when your responses do not make sense. E.g. My income is $100,000/year and I'm unemployed, retired etc. Then we have to ask how the income is generated if you are unemployed or retired. There is no reason not to be accurate on your application. If, as the thread is called, you want to Trade Full time-and you have no other employment, say you are a self-employed investor/trader.
I would not advise going far beyond the truth in answering any of their questions. Employment, income, net worth, etc. Understand that you are entering into a contract. If you ever run into a serious problem with your account and find yourself in a dispute, the broker is going to refer back to your application. No different than, for example, a mortgage or loan application. Wire fraud is not something to be taken lightly.