How to Open Interactive Brokers Account (Updated) - Step by Step Guide

[@ZietInvests]

🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ ziet.link/25-know-more-about-IBKR If you found this video helpful, it would do our team a great pleasure if you can check out Interactive Brokers (with the link above), as we will receive a very tiny kick back - we promise to make more and higher quality videos for all of you ❤ Have a nice day ahead!

[@tranfozinvestor]

done with the click. btw i am trying to use the cryto function, do u have a video about how to set it up?

[@nurhidayat2333]

awesome ziet, for the next tutorial, please do deposit MYR with bank transfer via wise method

[@ZietInvests]

@@tranfozinvestor thank you so much! i dont trade crypto myself tho

[@ZietInvests]

@@nurhidayat2333 here you go! kzbin.info/www/bejne/borIdYdopNFkgZIsi=LLYjsiElKNXHZfU1

[@welson9922]

15:46 The better way to reduce the amount of currency conversion fee charged is to convert MYR to USD in Wise first, then deposited the converted USD to IBKR in IBKR. The difference is around 2-3% which can be a lot depending on how much you deposit.

[@drbenirusani]

Hi Welson9922 good tip I just gave you a thumbs up.! May I ask a Question: I heard we could also fund IBKR account by opening up a CIMB account in Singapore. So Step 1) we transfer our RM from CIMB Malaysia to CIMB Singapore. Step 2) We transfer from CIMB Singapore into IBKR (which should be free?) -- just that not sure better to transfer in SGD or in USD. What do you think -- do we save any additional fee by using this method?

[@bryanohweijun]

I would love to see a detailed IBKR Vs MoomooMY comparison video 🤩

[@ZietInvests]

Coming very very soon! (Editing now!!)

[@makeitbreakitan39]

Very well made video, helpful. Thanks have a great day.

[@guilhermesousa227]

thanks man, great content!

[@ZietInvests]

Glad you liked it!

[@walidcheikh9053]

Hi Ziet. I love your content, and I became a regular follower of your videos. Keep the high quality work. I have a question for you, which I had searched over the internet, but I always find contradicting answers. Distributing etfs are kind of obvious. However, accumulating ones, how do they work in details? Some say that acc etfs "dividends" are reinvested into the fund, and thus increasing shareholders amount of shares. Some others say that number of shares never changes unless you buy more, but only the price of a share increases because of the reinvestment of the fund into itself. Do you have some detailed answer about this? Maybe you can make a video about it, since no one youtube explains accumulating etfs reward mechanism really. Maybe you can take Ishares core S&P 500, CSPX and IDUS as examples, since US finds are only distributing. From Morocco I send best wishes for your investment journey.

[@gideonmsanifu7586]

Beautiful video. I had tried opening earlier and failed. But you have helped me

[@tradetrialwiyono]

this is video i am looking for. auto subscribed. thanks from Indonesia

[@wayti5759]

Thank you very much for this video. I appreciate your work! Keep uploading more about IBKR and Stocks😊

[@celinederosa9366]

Great job, thank you!

[@ZietInvests]

Glad it was helpful!

[@hello2lol54]

ur such a legend

[@chengdesiree]

Thank you Ziet! You are so helpful. Appreciate your content. Subscribed!

[@ZietInvests]

Awww thank you so much desiree!

[@singjoocheong5683]

Hi Ziet, Buying fractional shares means we can't select outside rth, would it result in us being unable to buy the shares after placed a buy order?

[@runfayu6476]

Hi Ziet, Thank you for the video, would like to check with you that I want to open IBKR account, I am Chinese but have been worked In Singapore for few years and now still working In Singapore, how to fill in the address, tax residency, work information? like the address, I fill in the one from my China ID or fill in the Singapore one, same as tax residency?

[@limintandiono7747]

How to withdraw our trading fund? To wise or to our local banks?

[@ВикторЗаиченко-ч3щ]

Thanks you, your expication was very clear and in my opinion best that I saw! Thanks you!!!❤❤❤

[@ZietInvests]

Glad it was helpful!!

[@bilkiss_bi]

Great video

[@ZietInvests]

Glad you enjoyed it

[@dianadaurbekova7964]

Hi, thanks for the detailed guide, do I have to indicate my second citizenship?

[@SvenSchuler]

Whee you have to say whether dou alteady have experience, there is always an error message for the years. I chose 3 years. What could be the problem?

[@PENGCHEENSEE]

Hi Ziet, IB requests me to upload supporting document for address, but the thing is the address on my utility bill is different from my NRIC, what should I do?

[@rafnoti6084]

Great video ! 👏👏👏 Please give me some advice. I am from Europe and went through all the procedures to open a margin account, uploaded all the documents, even the water bill with my address, and I waited 2 days for IBKR to inform me that they rejected me and that they could not continue with the account opening. What can I do now, who should I complain to, or should I try again to open another account with IBKR with the same procedure? I am asking for your advice in this regard because now I don't know what to do anymore. If I still cannot open an account with IBKR, which other broker would be good? I am most interested in options trading on the american market. That's what I studied the most, and for the last year I had quite good results on the demo account on IBKR, and now I can't use any of it. Please advise! Thank you very much ! 🙏🙏🙏

[@crysjoseph9597]

Thank you for sharing this. I made an attempt to sign up following your instructions. I had problems scanning the block code so uploaded my photo ID. The next day I wasn't able to access my account. Still can't. What do you suggest that I do?

[@geoffreylee1780]

Can make a comparison video between moomoo and ibkr?

[@yoshiYoishIRL]

moomoo can't do fractional share but can invest in Malaysia stock market. IBKR is the opposite. I recommend using both for their own purpose!

[@ZietInvests]

That video is being edited now! Should be up in the next 2 weeks 😊

[@dginvestor6483]

How about gotrade apps sir can you recommend it or not

[@wcheow81]

how to transfer shares from local bank trading account to IBKR?

[@ZietInvests]

hello, i dont think you can do that because local banks dont allow such bank transfers from a CDS to non-CDS brokerage account (IBKR's)

[@bolthistory6674]

Hi, what happen if I select interactive brokers as someone else instead of institution/charity in wise, can I able to send money to mu IBKR account

[@makeitbreakitan39]

21:07 if someone know the music I want to know please

[@deborah2976]

do they calculate the number of shared traded in a month? if a person trade options..thts like 100 shares each trade

[@nataliexyoutube]

hi i’m 19 this year and i can’t seem to get pass cuz ibkr said ‘Requested investment experience is inconsistent with minimum age required to trade the asset’. what should i do ?

[@absthzaraysff302]

learned alot from ur videos.... can't wait to start the journey.

[@biohackersGlobal]

what are the AMC charges and how much is the minimum amount that must be kept with IBKR?

[@AngelKhor-h7l]

Hi Ziet, can we directly fund HKD to IBKR from WISE?

[@Slayre77]

Hi, what Base Currency would you recommend to set? USD or something else like SGD?

[@AM-kh8wx]

How can i switch my paper account from margin to cash please?

[@enes6100]

Once we have created an account with Interactive Brokers and been approved, how do we log into the account?

[@inquisitiveYT]

I just open a new account via the sg website and when i log in to the new account, it points to the australia website. Is yours also the same?

[@aloysiooliveira3962]

I'm going to trade with 1,000.00 euros in options! What is the best pricing structure?

[@bharani9947]

i want to open account for option seling, what are the box i going to tick pls guide me

[@ZietInvests]

For opening an account to trade options, look out for the box or field asking about your experience level and trading objectives. Also, make sure to check if there’s a margin account option if you need that.

[@bharani9947]

@@ZietInvests thank you.yeah which one is good for option trading cash account or margin account?!

[@frazierkok5795]

Hi Ziet, hope you see this message. I have a question regarding the account ownership of the stock I purchase through InteractiveBrokers. Would it be under my name or would it be under a nominee account? This is important, because I want to participate in the voting of the company shareholders meeting proposals and such. TQVM.

[@ZietInvests]

Hello! Your stock with IBKR are (usually) held under a nominee account. This means the stocks are held in the broker’s name, but you still have the beneficial ownership. For participating in shareholder meetings and voting, you can usually request a proxy from them. This is actually the same for any other stock brokers that provide you access to US stocks - hope this helps!

[@frazierkok5795]

Good. I have an account with UOB Kay Hian, and they didn't give a damn when I requested to vote for a proxy. But the voting is just not catered for in their system, I have to pay a few hundred dollars for a snail mail voting process if I insist on voting.

[@behimim2233]

If I'm unemployed and check the employed box wou'nt I be asked to provide my bank statements of the recent months? really hrelpful video by the way.

[@alessioforte5946]

Thank you! - really helpful!

[@yousefabdelsamie5983]

This was very helpful, thank you

[@ZietInvests]

Glad you like it brother!

[@srichandrakumarkathiravell187]

Hi Zeit , can we trade options with IBKR ? Thanks in advance

[@samuelzev4076]

Can i ask since ibkr is your main investment platform whatever happened to trade station, is it still around?

[@ZietInvests]

Hi sam, i already delinked from TSG-IBKR into IBKR long time ago, updated in this video: kzbin.info/www/bejne/eqazm3-Ki9p6bLcsi=x1ztX8p5KRJ2fvbL

[@samuelzev4076]

@@ZietInvests yes that i know but my question is since most investors on TSG have migrated to IBKR, is the TSG platform still available or has it been erased by ibkr?

[@dusmannalinwad]

Thanks 🎉

[@ZietInvests]

You're welcome 😊

[@manuelericmijangos499]

What is the process of requesting permission to trade stock options? Are there any requirements, like having a certain amount of experience trading these instruments, etc.? Thank you very much for this informative video.

[@ZietInvests]

To trade stock options, you’ll usually need to request permission from the broker, and they’ll ask about your trading experience, financial situation, and risk tolerance. It’s mostly to make sure you understand the risks. Some brokers are stricter than others, especially if you're looking to trade more complex options strategies. If you're with Interactive Brokers, you can go through this during setup or adjust it in your account settings. Hope that helps!

[@amira1594-1]

Under the settings/trading section, there is an option for Dividend Election. By default, it is set to "receive cash." Does this matter if someone is only buying accumulating ETFs? It seems you can turn automatic dividend election on or off at the account level only. So its a bit confusing

[@gigan2134]

I don't understand. When I choose my country of citizenship, Interactive brokers app doesn't allow me to put my address of my country of residence (which is different from my country of citizenship). Instead it shows me regions of my country of citizenship to choose as address, which doesn't correspond to my current address. What should I do in this occasion ?

[@lovelymomento8314]

Great Video. Thanks. But, I do have a question. If I want to move USD funds from my Fidelity Account (non-personal account) to IBKR directly, what information do I need from IBKR to set up a new transfer instruction in Fidelity? Do I use Bank Wire as the method? Do I enter "Fidelity" as the Sending Institution?

[@mkmllrc]

Income and Net Worth Requirements for Buying VFIAX or SWPPX on IBKR? What annual net income, total net worth, and liquid net worth should I have to qualify for buying index funds like VFIAX or SWPPX through IBKR? I’m currently unable to trade these funds on the platform, so I’m wondering if there are specific financial requirements or restrictions I might be missing.

[@nancyimran514]

Hi Ziet, I tried to enable Trade in Fractions but it has prompted "Your request to trade Stocks is being processed." But, I have made my account and gotten it approved two days ago. May I know how to troubleshoot this?

[@syedhaziq8444]

HI Zeit Ive started learning trading since i watched your video. I am Malaysian and currently unemployed. I used to have Tax Identification Number in Australia last year and has already moved back to Malaysia for good now. So the question is what should i fill in the tax section? i am thinking of 'unable to obtain TIN'. For extra information, I will be using AUD to start trading.

[@JJ-ee6tm]

Hi Zoey I couldn’t find the open jar option in wise home page, how to put money into wise?

[@mohamednizam8527]

Is there any initial money need to be deposited upon opening act? If I open the act first funding it later is there a penalty?

[@seunlider4006]

which option to choose on purpose of trading if i want to trade Futures ? I know is not only Growth thanks to your video

[@soriyarin718]

Hi Ziet, is it good link IBRK with Wise account? thank you

[@SusanLow-y9j]

Hi, I have opened a sub account with IB. I want to use the sub account for stock trading. From the TWS screen, how do i switch to the sub account or should I log out and log in again in order to use the sub account? Thanks

[@ZietInvests]

Hello Susan, if memory serves me well, you can do it directly from the TWS screen. Just go to the top right corner where your account information is displayed, click on the drop-down menu, and select the sub account you want to use. Hope this helps!

[@hekk_tech5975]

i did not say anything about option trading i guess the chances are zero for beginners to open ikbr for option trading?

[@ZietInvests]

you can always update it in your settings > trading experience

[@Castello-clinic]

dear greetings. i am in Qatar and when trying to fund my wise app it proves impossible because there is no Qatari Riyal currency option. what advice do u have for me

[@mejd000]

HELP HELP !🥴 to open IBKR account , I come from Poland but live (tax also) in Norway . I am confused what polish or norwegian informations put correctly.I have only polish ID

[@aimeedusenge6417]

Hi, I lived in two countries in Europe as well so I understand your confusion; follow this steps : 1. Identification- you have to use your Polish ID and nationally 2. Tax identification: add your Norwegian residential address and confirm that it is you tax residence This way, for dividend payout, Norwegian taxes will be applied to your trades

[@smo5998]

Hi! Very informative vids. But does IBKR has a minimum amount to fund your acct??

[@ZietInvests]

Hello! No minimum funding requirement☺️

[@alikhalil2863]

@@ZietInvests what about PDT rule?

[@Xereous]

Does the deposit into account affects the permissions you get? My application haven't been approved after a day, do i need to wait longer?

[@ZietInvests]

It shouldn't affect, because permissions is tied to your trading experience/income source instead. Give it a little bit more time (1-2 more business days)!

[@soonhengvoon6281]

Hi, can ask apps version to buy fractional shares?

[@ZietInvests]

Yes! IBKR allows fractional shares trading!

[@KokSamWong]

Hi. U recommend moomoo or ibkr ? Moomoo in malaysia macam cannt buy fractional share is it but the interface is more user friendly and easier to fund

[@ZietInvests]

Hi there! Overall i’d prefer IBKR for lower fee (without stamp duty), but moomoo does have its appeal in terms of user interface and localised support in Malaysia (+ licensed by SC Malaysia. Ill have a detailed video comparing both of these uploaded in the next 2 weeks! Stay tuned😁

[@oleksiypopov582]

Ziet, I would appreciate your understanding if you are considering opening an account with IBKR. It is important to mention your tax number from your country of origin. If you do, IBKR will provide relevant information to your country, including all your assets in IBKR. You will then be required to pay tax. Due to my professional background, I am exempt from tax, but I have my TIN. Should I choose to provide my TIN or opt for another option?

[@tteh599]

Hi. With IBKR base currency set at USD (for US stock investment), if we want to invest in SG stock via same IBKR acc, i notice the charges to deposit SGD into IBKR from wise SG wallet is quite high. Any way to solve this? Is it necessary to deposit SGD into IBKR to buy SG stock in the first place? thanks!

[@MrAnajymous]

hi can i trade nasdaq futures from IKBR?

[@ZietInvests]

Yes, you can! Just make sure your account is set up for futures trading and that you've met the necessary requirements for margin and permissions.

[@desireecheng7181]

Hi Ziet, thank you for your videos. I have finally setup my account! I have funded it but whenever I put in a trade, it gets cancelled. I followed all your steps. Maybe the limit is an issue ? How do I determine a fair price to put as the limit ? Thank you!

[@ZietInvests]

Hi Desiree, glad to hear you’ve set up your account! For the limit price, you can check the current market price and set your limit slightly above (for buy orders) or below (for sell orders) to increase the chances of execution. Hope this helps~

[@desireecheng7181]

@@ZietInvests thank you Ziet! Keep up the great work. You’re doing amazing things for us all

[@indupriya9178]

How add Nominee in IBKR account?

[@ZietInvests]

Hi, you can do it through the Client Portal under "Account Settings." Look for the section related to beneficiaries or nominees and follow the instructions there. If you can’t find it, IBKR support can guide you!

[@matthewlewis2223]

Hi is a margin account the same as the ability to use CFD's for stock trading?

[@ZietInvests]

Hi Matt! A margin account and using CFDs for stock trading are similar (related) but not entirely the same. A margin account allows you to borrow money from your broker to buy stocks, giving you leverage. CFDs (Contracts for Difference) are financial derivatives that let you speculate on price movements without owning the underlying asset, also using leverage. Both involve borrowing and leverage, but CFDs are specific to trading contracts rather than actual stocks. Hope this clarifies!

[@khenghuatlim7264]

if scan driving license possible? IC has some risk.

[@ZietInvests]

Can try, but i believe they will ask for national ID 🥹

[@marxcyberian5765]

Hi Ziet Do I still need IBKR if I already got MM? What does Moomoo lack from IBKR? I mean what is the pros and con?

[@drbenirusani]

u can't trade in LSE to avoid US 30% tax

[@shin-shin9790]

So would it be cheaper to fund using CIMB or Wise?

[@ZietInvests]

CIMB SG + Wise definitely cheaper, but by just a small margin. Wise is easier for all intents & purposes

[@palmoniumgaming]

I dont have fund options like you have, I only got the wire thing

[@ZietInvests]

Ahhh how about Wise transfer? Try changing currency to USD

[@vikinesan]

Hi Ziet, I already open new account with IBKR and funded the account. I also have Rakuten trade account with US shares portfolio. Can I transfer my shares from Rakuten trade to IBKR ? I dont wish to sell any shares unless no choice.

[@agneswan958]

Hi Ziet, I am interested in trading options in the US market. How do we do it with IBKR? I am a Malaysian. Thank you.

[@yvonnelee2401]

Hi Ziet, already had Trade station Global still can open IBKR account?

[@Deofinancialchannel]

I have a question. My base currency is Canadian dollars and want to buy US stock. Do I need to converse money one time and use the US money again and again?

[@ZietInvests]

Yup you will need cash in USD to buy US stocks, you can let it auto convert as well but that would be pricey (2 USD each time)

[@ahwai9606]

Hi Ziet, how to request options permission level 2? I keep get error saying finance requirement not met.

[@ZietInvests]

Hi! For options permission level 2, you might need to check your account details or provide additional financial information to meet the requirements. Sometimes it's just about tweaking your application details, can maybe try reaching out to their support team for more specifics!

[@kenjispirit]

Hi Ziet, I have USD currency in a foreign bank account (non-US), is there any better way other than wise? I did check on WISE if I were to add money into wise by "SWIFT" there is a SWIFT fee incurred? Not to mention there may be additional fees from the bank itself?

[@vinashharryragunanan288]

as a non resident of the USA, should i open an account in the USA or Ireland in order to avoid Situs tax in the USA

[@SteelWhiskers]

Hi Ziet, I already have an IBKR paper trading account for a few months and now ready to fund this account. Do I need to open a new account or can I start funding via this paper account? Thanks for the guidance.

[@ZietInvests]

You don’t need to open a new account. You can fund your existing IBKR paper trading account directly! Good luck!

[@gustavoc.pereira7024]

Hi @ZietInvest, my question after watching this video is: Where can I see the details of all other fees after changing to Tiered pricing? Will it be visible in the account statement?

[@ZietInvests]

Hi gustav, you should be able to see the breakdown of fees in your account statement under the "activity" section after switching to Tiered pricing. IBKR typically lists all the fees, including commissions and regulatory charges, there.

[@limann8866]

For the tin number when i put alphabet at front it says not valid. When i put nunbers ony it can be accepted. Will it be a problem?

[@mercypena2200]

Ibkr doesn't let me deposit to began trading, please help me ASAP ❤

[@jasonffx01]

Hi Ziet, is the market data free? Been using moomoo since launch but there are some limitation to order type (cannot attach bracket order other than market or limit order) which gives me headache when it comes to execution for scalping. Plan to use ibkr for that purpose.

[@ZietInvests]

Hi jason, yess their market data is free for most US stocks/ETFs and other market (but deeper level data need subscription)

[@P143-x8g]

Hi Ziet, thank you for the guide. If i already put “I’m a student” for the tax residency part, can I still choose “employed” for employment? I have a side hustle provide me month income without having to pay tax.

[@sintoraphael1925]

Is there any minimum amount to invest through IB ?

[@ZietInvests]

Nope! 0!

[@Eye_4_An_Eye]

your title says updated tutorial yet its not. the new version MAKES you choose an experience level before continuing. it wont allow you to go forward without an experience level. and no, choosing 0-1 year doesnt work. i tried. also, before any of that it asks you if you want a lite or pro version. so your tutorial version is outdated or maybe its an american thing. for me in america its asking which account i want, a lite or pro. and also asking my experience level and says options are based on what i choose.

[@macmike205]

Hi, I would like to add the 2nd account with different currency (1st in EUR and 2nd in US). How I choose a currency when I open an additional account?

[@ZietInvests]

Hi Mike, you can select the currency during the 2nd account setup process. Just follow the prompts and choose your desired currency!

[@IDH258]

I would love to do long term investment through interactive brokers. If I buy a few stocks and it tumbles, do I still have those stocks but at their lower price or does the margin level cut me out and I lose everything?

[@VanessaofTheCollectiveBaltazar]

Hello! Can I change the username after creating an IB account online?

[@ZietInvests]

hi vanessa, i believe you cant do that :x

[@ibrahimahmed4809]

Hi sir would you help me how to open account because they rejected please

[@ZietInvests]

Hi ibrahim, try checking with their customer support? They would be more lenient if you approach them for account troubleshooting manually

[@mohanfonseka6256]

Does interactive brokers platform deal real US stock or CFDs?

[@ZietInvests]

Yes they do for both

[@chuvanthuan6363]

Thanks

[@ZietInvests]

No problem!

[@NickGhale]

Hi Ziet, with these configurations, I am unable to request trading permissions to trade bonds

[@ZietInvests]

Thanks for the note Nick, do you mind check with the customer support live chat to get your hands on bonds?

[@mrn900]

Hi Sir, i am from Malaysia, what base currency I must choose?

[@ZietInvests]

Hi, you can go with USD, it doesnt really affect much other than the commission you pay to convert currency (fixed at 2 USD). Hope this helps!

[@RobertWong788]

Hi Zeit, IBKR which mobile app to use?

[@ZietInvests]

Hi Robert, i use the IBKR Mobile, can download from here (scroll down to the bottom): www.interactivebrokers.com/en/trading/tws-mobile.php#trytoday-drop

[@crosundow]

Is it there another app available my current country I'm right now is no available currency in wise😢.

[@ZietInvests]

which country are you from 👀

[@lucynjoroge6737]

Hi @zietinvests what is the difference btw IBKR global vs IBKR mobile? Which one does one get? 🙊

[@ZietInvests]

Hello lucy ~ both are from IBKR yea, "Global" is more beginner friendly and nicer to use, "Mobile" is suitable for everyone + more seasoned users (more trading tools), ultimately you can login to both apps using the same login credentials!