Interactive Brokers Account Opening | How to Open Interactive Brokers Account

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

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

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.