IB rejected me, other broker with per share Commish?
- Thread starter longhornxtreme
- Start date
This is kind of silly.. a broker rejecting an application because of the amount of money LOL...
Find me a broker that will turn away a $40K client because it is too much money...
Find me a broker that will turn away a $40K client because it is too much money...
I think the best alternative for having a retail account with small fund under $25k is mbtrading.com
I'm sorry you think I'm immature Rosy... I posted here because ET is how I learned of IB. Sorry if I offended you.
What past liability Bitstream? My 9k I owe on my car loan? (Not trying to be rude, but the only reason I don't pay it off is because the note is at 4.2%)
I came here to ask what is a suitable per share based broker akin to IB... that's all...
What past liability Bitstream? My 9k I owe on my car loan? (Not trying to be rude, but the only reason I don't pay it off is because the note is at 4.2%)
I came here to ask what is a suitable per share based broker akin to IB... that's all...
I think there's your answer. Dental school is WAAAAY expensive. $18k/yr is not going to pay for it, so you're going to be borrowing lots of money. If I were IB, I'd be concerned about signing up someone who is about to incur large amounts of debt.
That aside, I'm not sure I'd want to sign up someone who makes $18k/yr. That tells me they can't even remotely afford to lose, which means they'll probably sue for "not disclosing the risks" when they do.
I feel for you and hope you do find an outlet to trade, but I completely understand IB's take here.
I'm not quite following the whole potential lawsuit issue... oh well...
Sure dental school costs alot of money, but it's really not much more than attending any other state school. As far as I know, IB had absolutely zero knowledge of my future educational plans. While I understand them rejecting me on the grounds that I'm not a 'big account', it's frustrating that I meet their listed account minimums on their website, waited to setup up ACH, and then rejection.
I'm not flaming IB; I understand I don't have 100k to open a new account, I'm only dissappointed.
Sure dental school costs alot of money, but it's really not much more than attending any other state school. As far as I know, IB had absolutely zero knowledge of my future educational plans. While I understand them rejecting me on the grounds that I'm not a 'big account', it's frustrating that I meet their listed account minimums on their website, waited to setup up ACH, and then rejection.
I'm not flaming IB; I understand I don't have 100k to open a new account, I'm only dissappointed.
You're still not getting it. It's not the size of the account, it's mostly about your net worth, career, and gross income. You've stated that your net worth is about 30k after the outstanding liabilities, and no job :eek:
Opening account size is of no concern, as long as you meet the minimums. When I first opened my account with IB, it was $2500. That's $500 more than what I'd put down on their application
No offense to you, but personally, I wouldn't trade with any brokerage firm, that let's you open an account with $30,000 net worth with no job, or verifiable income.
Good luck with your endeavors
IB isn't the only game in town. Plenty of places to put your money and you'll get reasonable commissions, reasonable fills, and reasonable data feed. All without the attitude. If you're a 100K + account, rading tens of thousands of shares a day, IB is probably the right place to be. Other than that, I can't see why anyone would put up with their bullshit.