How easy to open a new IB account compare to other brokers? (1=easiest, 10=hardiest)
- Thread starter dabao91
- Start date
This is an interesting Poll: some people find it easy while others most difficult.
You would think that most people would average in the middle. The key is the statement "Compared to other brokers": With that phase it would appeared more difficult is correct seeing that opening a regular account at the other brokers is quite easy.
You would think that most people would average in the middle. The key is the statement "Compared to other brokers": With that phase it would appeared more difficult is correct seeing that opening a regular account at the other brokers is quite easy.
Hmm... let's see. You're coming onto an anonymous internet forum, posting anonymously, in a manner that is 100% guaranteed to get no results whatsoever. Why? Please advise.
Or maybe it's the case that you really think that IB is going to look at this thread and change the account opening procedures based on you and your three aliases? Do you understand how big a firm IB is? Please advise.
IB is far from perfect. I just think it's a huge waste of time and bandwidth to complain about this, of all things. What do you care how long it takes you to open an account? If it took you so long, why in the hell didn't you vote with your feet, instead of opening 4 more accounts? If it took you so long and it was such a hassle, why in the hell did you recommend the service to your friends? Please advise, since this makes no sense. Maybe you're just having a bad week trading?
Opening an account at IB was completely seamless for me, 3 separate times. Never a hitch.
Still waiting for an answer to this post. Maybe you missed it.
It is clear that there are people on here who are incompetent - these are the people that post 'IB screwed me' and then it turns out that they made some mistake. No doubt in my mind that people who have trouble with IB account opening procedures messed up their application in some way. They weren't able to follow instructions and so their account opening was delayed.
Again, don't get me wrong. IB will screw you over in a second if you don't know how to defend yourself. This kind of whiny crap, whining about how hard it is to open an account, isn't the problem. The problem is that here in Canada, there is no competition in this segment, specifically providers of Universal accounts.
I want CIPF protection for my accounts. Just ask Refco bagholders what they thought about Canada, once they found out that Canadian customers were covered. That's why I opened an IB account for short term trading.
OK. Just want to make thing clear. The reason I came to ET to post this poll is that I have a Friend and Family advisor master account with IB and I manage some other accounts under such master account. The comments from my family and friends indicated to me that it is not that easy (for them) to ONLINE open IB accounts.
But this does not necessary mean that it is easier to open a new account in other brokers, compare to IB. (I do not know, either way).
This does not necessary mean my family and friends are not smart enough (or too smart) to go through the online new account open procedure (or in other direction).
And this does not necessary means IB online new account open procedure has any room (or has no room) for improvement. It may turn out that it is perfect already and no improvement is necessary.
I am not come here to bash IB. Far from it. In fact, I like IB. I want IB to improve their ONLINE account open procedure (if there is any room for improvement). If fact, I also posted other poll, title: CTA/CPO/RIA/FF advisor, would you like IB to support MONTHLY automatic bill?
http://elitetrader.com/vb/showthread.php?s=&threadid=109839 You can see that, I want IB to be better in future⦠to enhance their existing feature â¦â¦â¦â¦â¦â¦
In future, I would like my family and friends to tell me that it is very easy to open an IB account compare to other brokersâ¦â¦â¦â¦â¦â¦..
Only when ET members can freely express their view (in either directions) we can have a better life â¦â¦â¦.â¦â¦â¦â¦â¦â¦..
Cheers to every one â¦â¦â¦â¦â¦
Wish every one has a nice Thanksgiving evening & week â¦â¦â¦â¦â¦â¦
DISCLAIMER: I am NOT a registered CTA/CPO/RIA. I ONLY manage my family and friends accounts. I am NOT interest to manage other accounts. I am NOT associated with ET in any way, except I am a member who comes here to learn and to contribute. I am NOT associated with IB in any way, except I use IB as my executing FCM to trade for myself and my friends and family accounts.
But this does not necessary mean that it is easier to open a new account in other brokers, compare to IB. (I do not know, either way).
This does not necessary mean my family and friends are not smart enough (or too smart) to go through the online new account open procedure (or in other direction).
And this does not necessary means IB online new account open procedure has any room (or has no room) for improvement. It may turn out that it is perfect already and no improvement is necessary.
I am not come here to bash IB. Far from it. In fact, I like IB. I want IB to improve their ONLINE account open procedure (if there is any room for improvement). If fact, I also posted other poll, title: CTA/CPO/RIA/FF advisor, would you like IB to support MONTHLY automatic bill?
http://elitetrader.com/vb/showthread.php?s=&threadid=109839 You can see that, I want IB to be better in future⦠to enhance their existing feature â¦â¦â¦â¦â¦â¦
In future, I would like my family and friends to tell me that it is very easy to open an IB account compare to other brokersâ¦â¦â¦â¦â¦â¦..
Only when ET members can freely express their view (in either directions) we can have a better life â¦â¦â¦.â¦â¦â¦â¦â¦â¦..
Cheers to every one â¦â¦â¦â¦â¦
Wish every one has a nice Thanksgiving evening & week â¦â¦â¦â¦â¦â¦ DISCLAIMER: I am NOT a registered CTA/CPO/RIA. I ONLY manage my family and friends accounts. I am NOT interest to manage other accounts. I am NOT associated with ET in any way, except I am a member who comes here to learn and to contribute. I am NOT associated with IB in any way, except I use IB as my executing FCM to trade for myself and my friends and family accounts.
It's all about Know Your Client. The less you know the more difficult it will be to fill out the required information.
It's all about Know Your Client. The less you know the more difficult it will be to fill out the required information.
Complete agreed with your idea "Know Your Client".
But, this is nothing to do with âKnow Your Clientâ rule. Image this â¦â¦. You are a FF advisor, you instruct IB (through master account) to send an âinvitation emailâ to your friend and family to open an account. Such email contains a âspecialâ link. Your friend and family click such link to start the procedureâ¦. You are in your city and your friend and family may be in other cities, States or even in other countriesâ¦â¦ They are the one (not you) who have to complete the online open procedure from START to END virtually alone doing that............................... You may (may not) be with them in the process â¦â¦â¦â¦.
They open a "client" account (per IB's trem), they are not open a "traditional" account. They are not the one who trade/manage their account. You (as a FF advisor) is the one who trade/manages the account. In general, since they do not "trade/manage" their own account, they could be (but not necessary) less familiar (or sophistical) than the one how opens a "traditional" account and trade/manage such account for them self.
I assume that very FF advisor of IB may have some interest to see such online open procedure can become as simple as possible â¦. But again, it may turn out that nothing can be improved â¦â¦..â¦â¦â¦â¦â¦.
For those who may question me why I did not post this poll in IB message board, here is the link ------.............--
http://www.interactivebrokers.com/cgi-bin/discus/board-auth.pl?lm=1195407918&file=/5/52014.html Posted on Sunday, November 18, 2007 - 12:45 (two days ago!)
Ok...I see your point. But if IB doesn't require your "clients" to fill out the required info what happens if you trade the accounts to zero? Who is responsible? You or IB?
Berkshire Securities Inc. financial advisor Ian Thow invested his clients money very badly and Berkshire Securities Inc. ended up repaying some of the clients.
Ian Thow enjoying his clients money.
Story Here