Trying to open an Interactive Brokers account

Really did not expect so many answers of the same kind to this question. Quite shocking. The same guys who run penny accounts and trade micro futures advise a beginner to commit wire fraud and lie on financial account opening documentation? What you guys are recommending is loan application fraud which is a serious crime. This guy might apply for a margin account and lying about income and net worth is as clear as day defined as serious fraud.and what you guys are doing is aiding and abetting. You might yourself be in trouble if anyone got a hold of your IP address. Pretty stupid advise in my book.

Wow. Are you all infected with the covid bug or something? What has this website turned into?
 
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Just because one guesses that brokers in the U.S. don't confirm; doesn't mean that they won't confirm already-established accounts in the future. Nor does it mean that they don't confirm in other countries.

Just because one guesses that there'll be no penalties for the fraud in the U.S. doesn't mean that penalties won't change in the future. Nor does it mean that there'll be no penalties in other countries.
 
userque said:
Just because one guesses that brokers in the U.S. don't confirm; doesn't mean that they won't confirm already-established accounts in the future. Nor does it mean that they don't confirm in other countries.

Just because one guesses that there'll be no penalties for the fraud in the U.S. doesn't mean that penalties won't change in the future. Nor does it mean that there'll be no penalties in other countries.
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True, I am guessing he will be fine as long as he doesn't do something stupid with his account (i.e. that the broker gets into shit for), that's why I pointed out e.g. margin trading being unsuitable. Can't guarantee it.

DiceAreCast said:
Really did not expect so many answers of the same kind to this question. Quite shocking. The same guys who run penny accounts and trade micro futures advise a beginner to commit wire fraud and lie on financial account opening documentation? What you guys are recommending is loan application fraud which is a serious crime. This guy might apply for a margin account and lying about income and net worth is as clear as day defined as serious fraud.and what you guys are doing is aiding and abetting. You might yourself be in trouble if anyone got a hold of your IP address. Pretty stupid advise in my book.

Wow. Are you all infected with the covid bug or something? What has this website turned into?
More...

Might be a cultural difference. Where I come from we solve things without lawyers foremost.
 
hajimow said:
You will have less than 25K so you will not be able to day trade so your commission will be less than $30 per month and then IB will charge your date fee. IB is almost perfect but not for everyone.
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What is the " DATE FEE" you mentioned at IB ? and do you know how much it is the fee $$ ?
 
Where I come from we are first and foremost honest and truthful. Could be just me and my family though, who knows...

Snuskpelle said:
True, I am guessing he will be fine as long as he doesn't do something stupid with his account (i.e. that the broker gets into shit for), that's why I pointed out e.g. margin trading being unsuitable. Can't guarantee it.



Might be a cultural difference. Where I come from we solve things without lawyers foremost.
More...
 
DiceAreCast said:
Really did not expect so many answers of the same kind to this question. Quite shocking. The same guys who run penny accounts and trade micro futures advise a beginner to commit wire fraud and lie on financial account opening documentation? What you guys are recommending is loan application fraud which is a serious crime. This guy might apply for a margin account and lying about income and net worth is as clear as day defined as serious fraud.and what you guys are doing is aiding and abetting. You might yourself be in trouble if anyone got a hold of your IP address. Pretty stupid advise in my book.

Wow. Are you all infected with the covid bug or something? What has this website turned into?
More...

Honestly, it's too hard to check.

Some investor says his Networth is such and such and is comprised of Comic Books, Automobiles, Stamps etc with Bitcoin being the Liquid net worth portion. You think Interactive Brokers is going to send some appraisers to find out?

friggin wire fraud. Gimme a break dude. Every client i had when working for a broker, there was honestly no checks unless they wanted to invest in something Like a Hedgefund that is meant for accredited investors.
 
DiceAreCast said:
Where I come from we are first and foremost honest and truthful. Could be just me and my family though, who knows...
More...

Presumably, since it boils down to individual circumstances if you can afford 100% honesty. "Can't invest/trade because networth not 20k hurr durr" is inane logic that perpetuates inequality differences.

That said, there may be better brokers more suitable than IB for OP, suggestions have already been placed in thread by other people.
 
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