Does Brokerage account opening taking too long these days?

T

TradeTune

Hi all,

I applied for new account to IB on 25th march and i got approval on 27th march.

I applied for new account with a very famous company that i believe doesn't have half as much accounts as IB, on 5th April and they tell me it's Due to a recent increase in applications !!!

How they have increase in applications possible? Just trying to clear my head.
 
TradeTune said:
Hi all,

I applied for new account to IB on 25th march and i got approval on 27th march.

I applied for new account with a very famous company that i believe doesn't have half as much accounts as IB, on 5th April and they tell me it's Due to a recent increase in applications !!!

How they have increase in applications possible? Just trying to clear my head.
More...

A lot of companies are currently running with low staff due to the virus we are currently dealing with so yes it could take longer than usual, i don't see a problem in that since these are extreme conditions (including extraordinary market conditions) for everyone and a delay in application approval or customer support should be expected now.
 
I assume you’re not talking about Lightspeed but we are VERY busy. Between the market volatility and people stuck at home there is a surge of interest in trading.

TradeTune said:
Hi all,

I applied for new account to IB on 25th march and i got approval on 27th march.

I applied for new account with a very famous company that i believe doesn't have half as much accounts as IB, on 5th April and they tell me it's Due to a recent increase in applications !!!

How they have increase in applications possible? Just trying to clear my head.
More...
 
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Market crashed and everyone and their dog wanted to buy at some discount. That and people here about others making a killing on very lucky puts and everyone wants in.

Know a couple finance/investing Reddits for Canadians has been filled with people frustrated with the big banks opening accounts or Questrade. Don’t think it helped that it all hit around tax time as well which I assume is a busier time.
 
Metamega said:
https://investors.interactivebrokers.com/ir/main.php

Believe he probably pulled from one of the documents there. Can’t open them on my iPhone but you can view a lot of information through there investor relations.
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right ...thank you
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Robert Morse said:
I assume you’re not talking about Lightspeed but we are VERY busy. Between the market volatility and people stuck at home there is a surge of interest in trading.
More...

Bob, what is your current turn around time, if all goes, well from application submission to full permissions?
 
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