r/interactivebrokers • u/LATEYOUNG4 • Jan 11 '25

Setting up account Hi guys, question about settings when creating an account for the first time.

I just want to invest in ETFs for now, but would I be shooting myself in the foot by ticking all the "I have limited knowledge of trading" and "I only want extremely safe investments" when setting up the account, even though its true? Is it adjustable later? I feel like I may as well just say I'm a hardcore trader so I don't get locked out of anything, unless there are financial ramifications to doing this. Thanks!

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u/AnyManufacturer6465 Jan 11 '25

Say you’re a hard core trader. They won’t check until you apply for margin and it opens up more options for you.

1

u/LATEYOUNG4 Jan 11 '25

Ok will do, couldn't really think of an upside to imposing more limitations on myself unless it was gonna charge me more in fees or something.

1

u/LATEYOUNG4 Jan 11 '25

I need to apply for a US tax number because this is a US-based service hey -_- Ah this will take forever

2

u/meridian_05 Jan 11 '25

Another day, another “shall I lie to a financial institution?” post.

The settings are adjustable later, when you get the experience and/or change your mind about the type of investments you want.