IB--How Long to Process Application?

A number of good points. I did a check the NFA website; there are a number of offenders, with various crimes, that were eventually accepted for CFTC registration and NFA membership. These are people handling your money and making trading decisions. I can't see how drug-related offenses can be a disqualification for a brokerage account, especially since drug-related offenses are popular on the NFA website.

I do see how financially related offenses can be a problem, especially money-laundering and fraud. One cannot simply lump every offender into a single category and say they can't open a brokerage account. Anyway, we will see once IB makes a decision. I am surprised that no one from IB has chimed in on the subject.
 
Quote from jwcapital:

So, according to you...
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I hope your cousin's analytical skills are better than yours. Nothing in Bob111's post suggests that he was saying what you imply. Maybe you should go back and read the posts again.

Secondly, you may find IB's risk management protocols to be 'ridiculous'. I have a feeling that they know a bit more about the subject than you do. Regulatory conditions change and companies are forced to adapt. If IB felt that it was in their best interest to retroactively check for past convictions and shut down those who have them, don't you think they would do it? They'd do it in a heartbeat without a second thought for 1-lot pikers.
Quote from jwcapital:
That thread deals with financial and moral turpitude related crimes. My cousin's is non-violent, non-financial drug-related, and he received probation. So, obviously, he is not a danger to society nor is he dishonest.
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If you have a criminal record, you face potential consequences. If you were wrongly convicted you can fight to have your record expunged.

By the way, every crime involves a moral or ethical transgression.
 
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