Interactive Brokers Account Opening | How to Open Interactive Brokers Account

Pros

Cons

  • Individuals, joint, trust, IRA, and UGMA accounts
  • Various account types
  • Fully digital registration
  • Fast opening
  • Minimum deposit is $0
  • Account fees on some account types

Introduction

Interactive Brokers is a US-based broker founded in 1978. It’s basically a forex and CFD broker and has a wide variety of other trading instruments. It’s also regulated by top-tier FCA, the Financial cConduct Authority.

Countries Available

Interactive Brokers is available in over 200 countries including USA, Japan, Italy, and more.

There are some countries that you can’t open an account from which have unstable political or economic backgrounds like North Korea.

 

The following table shows the countries that you can open an Interactive Brokers account from:

Interactive Brokers Available Countries

Albania

Algeria

American Samoa

Andorra

Angola

Anguilla

Antarctica

Antigua and Barbuda

Argentina

Armenia

Aruba

Australia

Austria

Azerbaijan

Bahamas

Bahrain

Bangladesh

Barbados

Belgium

Belize

Benin

Bermuda

Bhutan

Bolivia

Bosnia and Herzegovina

Botswana

Brazil

British Indian Ocean Territory

British Virgin Islands

Brunei Darussalam

Bulgaria

Burkina Faso

Cambodia

Cameroon

Canada

Cape Verde

Cayman Islands

Chad

Channel Islands and Jersey

Chile

China

Colombia

Comoros

Cook Islands

Costa Rica

Cote D’Ivoire

Croatia

Curacao

Cyprus

Czech Republic

Denmark

Djibouti

Dominica

Dominican Republic

East Timor

Ecuador

Egypt

El Salvador

Equatorial Guinea

Eritrea

Estonia

Ethiopia

Faeroe Islands

Falkland Islands (Malvinas)

Fiji

Finland

France

French Guiana

French Polynesia

Gabon

Gambia

Georgia

Germany

Ghana

Gibraltar

Greece

Greenland

Grenada

Guadeloupe

Guam

Guatemala

Guernsey

Guinea

Guinea-Bissau

Guyana

Haiti

Holy See

Honduras

Hong Kong Special Administrative Region of China

Hungary

Iceland

India

Indonesia

Ireland

Isle of Man

Israel

Italy

Jamaica

Japan

Jordan

Kazakhstan

Kenya

Kiribati

Korea

Kuwait

Kyrgyzstan

Lao People`s Democratic Republic

Latvia

Lebanon

Lesotho

Liberia

Liechtenstein

Lithuania

Luxembourg

Macao Special Administrative Region of China

Madagascar

Malawi

Malaysia

Maldives

Mali

Malta

Marshall Islands

Martinique

Mauritania

Mauritius

Mayotte

Mexico

Micronesia, Federated States of

Monaco

Mongolia

Montenegro

Montserrat

Morocco

Mozambique

Namibia

Nepal

Netherlands

Netherlands Antilles

New Caledonia

New Zealand

Nicaragua

Niger

Niue

Norfolk Island

Northern Mariana Islands

Norway

Occupied Palestinian Territory

Oman

Pakistan

Palau

Panama

Papua New Guinea

Paraguay

Peru

Philippines

Pitcairn

Poland

Portugal

Puerto Rico

Qatar

Republic of Moldova

Republic of North Macedonia

Reunion

Romania

Russian Federation

Rwanda

Saint Helena

Saint Kitts and Nevis

Saint Lucia

Saint Pierre and Miquelon

Saint Vincent and the Grenadines

Samoa

San Marino

Sao Tome and Principe

Saudi Arabia

Senegal

Serbia

Seychelles

Singapore

Slovakia

Slovenia

Solomon Islands

South Africa

Spain

Sri Lanka

Suriname

Svalbard and Jan Mayen Islands

Swaziland

Sweden

Switzerland

Taiwan (Republic of China)

Tajikistan

Thailand

Togo

Tokelau

Tonga

Trinidad and Tobago

Tunisia

Turkey

Turkmenistan

Turks and Caicos Islands

Tuvalu

Uganda

Ukraine

United Arab Emirates

United Kingdom

United Republic of Tanzania

United States

United States Virgin Islands

Uruguay

Uzbekistan

Vanuatu

Venezuela

Viet Nam

Wallis and Futuna Islands

Western Sahara

 

Account Types

Interactive Brokers has different account categories available like:

  • Individual, Joint, Trust, IRA and UGMA/UTMA Accounts
  • Friends and Family Accounts
  • Family Office Accounts
  • Small Business Accounts
  • Advisor Accounts
  • Money Manager Accounts
  • Broker and FCM Accounts
  • Proprietary Trading Group Accounts
  • Hedge & Mutual Fund Accounts
  • Compliance Officers
  • Administrators
  • Institutional Hedge Fund Investors

Each of the previous accounts has its own features and relative fees and commissions.

Interactive Brokers also provides a demo account with 0 fees if you want to experience the trading platform with no risk.

Interactive Brokers also provides a demo account with 0 fees if you want to experience the trading platform with no risk.

There’s an option to join the Interactive Brokers affiliate partner program if you want as well.

Min Deposit

For a lot of accounts, Interactive Brokers does offer a minimum deposit of $0.

How to Open Account

You can open an Interactive Brokers account in minutes through these steps:

  1. Enter your name, email, phone number, and country of residence.
  2. Enter some personal information like your city and profession.
  3. Choose the account type, platform, and base currency.
  4. Add your trading preferences.
  5. Provide a proof of your identity and the country of residence.
  6. Fund your account and start trading.

Interactive Brokers Account Opening | How to Open Interactive Brokers Account

Interactive Brokers – Account opening

Notes:

  • Due also to the requirements of the regulatory bodies that supervise Interactive Brokers, it is necessary that in order to operate with your account you send them a proof that proves your identity and another proof that proves your current address :
  • Identity document : You must send a copy of your ID, your passport or driving license . It has to be an official document that clearly shows your identity and that it is valid (the document you send cannot be expired). You can scan any of these documents and send it in PDF, JPG, GIF, or take a photo with your mobile if it is more comfortable for you. In any case, the image must have good quality and be completely readable, otherwise it may give you problems to verify it.
  • Proof of address : This is to send a document that shows your current address . You will have to send a recent utility bill (not exceeding 3 months) for electricity, water, gas, landline or Internet (many brokers do not accept, for example, mobile phone bills). You can scan and send it in PDF, JPG, GIF, or take a photo with your mobile. Like the previous document, all the data must be legible and have sufficient quality.

FAQs

  1. How long does it take to verify my account?
  • It takes about 2 to 3 weeks to verify your Interactive Brokers account.
  1. Can I open more than one trading account?
  • Yes, you can create a linked account and log into Account Management, you can perform any action, such as modify trading permissions or transfer funds, for a specific linked account.
  1. Does Interactive Brokers allow bot trading?
  • Yes, it does.
  1. Does Interactive Brokers give a bonus?
  • Yes, Interactive Brokers will give you a bonus of up to $200 if you refer a friend that opens an account and maintains a balance of at least $10,000 for one year.
  1. Does Interactive Brokers allow scalping and hedging?
  • Yes, Interactive Brokers does.
  1. Does Interactive Brokers has a swap-free account?
  • No, Interactive Brokers does not have an islamic account.
  1. When will my demo account expire?
  2. Can I login to the same account through different devices?
  • Unfortunately, Interactive Brokers does not support logging in to your account from different devices. You should log out from one of them to login to another.
  1. Does Interactive Brokers accept payments from third parties?
  • No, the payments should be under your name only.

 



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