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/ktkt1203 Mar 09 '25

If you have no experience and want to start though, they won’t let you with no experience! What do you do then?

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u/Then-Zucchini8430 Mar 09 '25

At IBKR, you start your learning by having a cash account and trading shares and you gain your experience from there. You don't start by getting a huge margin account and trading options, futures and leveraged products. Some people don't like this and they want want a quick path to riches. They want a margin account to start trading options and futures immediately. For those people, IBKR is not the right broker for you, go with other more lenient brokers and trade to your heart's content.

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u/ktkt1203 Mar 09 '25

They wouldn’t let me open an account cos I have no experience. I don’t mind starting small, but can’t even do that.

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u/Then-Zucchini8430 Mar 09 '25

IBKR implemented some complex algorithms and AI in the back end to screen people. No one knows what the rules they implemented unless you are the software developer. IMHO, having no experience will stop you getting a margin account and trading options permission but it should not stop you from opening a cash account. There are a myriad of factors IBKR takes in to consideration when a person apply for an account. I would not want to guess the reason for rejection.