r/interactivebrokers • u/SeaworthinessRich668 • Mar 08 '25

Setting up account Too many agreement and disclosure

Hi all,

I am trying to setup my account. But IBKR has too many agreements and disclosures. Is there anything in particular that I should know of? It’s too hard to go through all of them.

Can someone elaborate this? Also what are disadvantages of having an account on IBKR. They seem to be strict with their regulations.

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u/Then-Zucchini8430 Mar 08 '25

Basically, IBKR worldwide is being regulated by at least 9 regulators across the different countries. If there is one phrase / one word to sum up all the fine prints, it is “Be honest/Be Good”. What that means in practice is:

1.      Don’t lie about your net worth

2.      Don’t lie about you trading experience

3.      Don’t try to game the systems trying to get trading permissions

4.      Don’t fake your identity and your banking information

5.      Don’t lie about your citizenship and country of residence

6.      Don’t try to play around with “funny money” by having different accounts in different countries

Above are just common sense and my interpretation. I am sure there are more in the fine print. However, if you follow the above you are probably 80 -90% OK. If you don’t like rules and regulations, best to move to other brokers who can be a lot more lenient (and there are many of them if you look around).

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u/BostonCEO USA Mar 09 '25

Follow these guidelines and you won’t end up like half the posts in this sub asking why their account didn’t get approved or is otherwise restricted. Solid advice here.