Trying to open an Interactive Brokers account

OptionsOptionsOptions said:
  • No there will be no legal repercussions.
  • Credit Cards are the same - if they require $60,000 yearly income then put down you make $60,000 a year. The card will be in the mail within a week.
IMO ...... COVID-19 has made the "Know Your Client" questions worthless. Your financial situation can change very quickly.
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I like your style and this is so true!
 
hajimow said:
$10 per month with minimum data subscription.
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I was only paying $4.50 before I upgraded to Deep Book data the other day. I will be going back to $4.50 likely by next month. Don't think the deep book data is worth it because MM's and others likely manipulate the data anyways. I don't know yet... still figuring it out.
 
I think you purposely do not want to get my point. I did not claim you said that. I said that there would be no point to ask about those metrics if IB wanted to admit anyone and everyone and let them trade whatever product the client chose.

OptionsOptionsOptions said:
Yes ..... I know that.





What did I post that says clients can open accounts with zero income and no wealth?
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:D lmao

CDoubleUU said:
I was only paying $4.50 before I upgraded to Deep Book data the other day. I will be going back to $4.50 likely by next month. Don't think the deep book data is worth it because MM's and others likely manipulate the data anyways. I don't know yet... still figuring it out.
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DiceAreCast said:
I think you purposely do not want to get my point. I did not claim you said that. I said that there would be no point to ask about those metrics if IB wanted to admit anyone and everyone and let them trade whatever product the client chose.
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It's part of regulations that require IB and all brokers to collect the info on income, liquid net worth, trading experience, etc - So they have no choice.

But IB clearly wanted to lower-the-bar for new clients by reducing the minimum new account balance from $10,000 USD to 0.
 
Exactly, and that is why intentionally lying about that information is considered a serious offense. You finally got it.

OptionsOptionsOptions said:
It's part of regulations that require IB and all brokers to collect the info on income, liquid net worth, trading experience, etc - So they have no choice.
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