Interactive Brokers Account Application Guide

Copyright © Beyond Insights Sdn. Bhd., 2015.

Interactive Broker Live Account Application Guide

*Take note of the following requirement before applying the account. IB target high volume traders and therefore it has minimum Liquid net worth requirement of USD50,000 and Annual Net Income of at least USD45,000 to be qualified to trade Options, Forex and Futures.

This additional requirement is not required for CFD (other than the USD10,000 minimum to open account). 1) To apply Interactive Broker Live Account, go to:

https://www.interactivebrokers.com/Universal/servlet/marketing.referralWelcome?rid=5582

2) You will be directed to this website. Select “Individual”

3) You will then see this page, Click on “ProTrack Application”.

Click here

Click here

https://www.interactivebrokers.com/Universal/servlet/marketing.referralWelcome?rid=5582


4) You will see this page, Click on “Start Application” .

5) Fill up the following form. Remember your Username & Password!!

Keep it in a safe place (as many people tends to forget initially) You can create a separate email account for all your brokers live trading communications including account statements, etc, so that it does not mix up with your personal mails for better tracking if you have many personal mails.

Username must include 6 lower case letters & 3 different numbers

Password must include o At least 1 alphabet character o At least 1 numeric character o Must be 6-8 characters (no space)


6) After you complete the above form, the following will appear below the above form:-

Select “Stocks, Options, Futures, Forex, Bonds”, so that you can trade both Stocks & CFD (even if you do not meet the minimum requirement for trading Options & Futures). You can add CFD in the configuration later. If you select “CFDs and Metals only” then it will restrict you to only trade CFD and Metals (E.g. Gold & Silver). The application process is simpler but your account will end up opened under IB, UK and it’s a different process to waive the tax.

7) You will get an email from Interactive Brokers with a “Confirmation number”.

Enter that Confirmation Number in the box below.

nicole123

[email protected]

Key in the confirmation number you received from email here.

Select Individual

Select this if you don’t have any account with IB

Click Continue


8) You will then get this confirmation. Please print it out.

9) Take note of these instructions below. DO NOT USE the browser back button.

nicole123


10) Fill up the form below.

Take note that “Last Name” is actually your “Surname” and “First Name” is your given name. E.g. for a Chinese Name: “Tan Lee Ling”, First Name = Lee Ling Last Name = Tan


Enter the 3 security questions.

Click on “Others”

Enter “Beyond Insights”

Select “Others”


11) Fill up the information below For Malaysians, it’s best to use National Identity Card (IC) for Legal Identification Number rather than Passport since Malaysian passport expires every 5 years and the number changes. Take note that Unemployed, maybe subjected to limitations in financial instruments or strategy that can be traded. You will need to enter Net worth and other source of income information in this case to support it.


12) Select the Base Currency for your account. If you are primarily trading the US market, then it’s better to open a USD base currency account. You can always change this later.

Take note that, to change the base currency in the future, you need to close all your positions first, then submit a request to IB to change the base currency.

13) You need to fill up this W8-BEN form. It’s to declare that you are NON-US citizen or PR so that you will

not be subjected to US Tax rules.

Select “Individual”

Enter Your Address

Fill in your Full Name.

Leave other fields blank.


Type in your name exactly as the one on the left of the box to serve as online Signature.

Enter Resident Country

Tick this.

Lee Ling Tan

Type your name here


14) Read the questions below and answer accordingly. 15) Select “Req T Margin” account so that you have the flexibility to trade on margin. Click on the “?”

besides the Account type to understand more on the various Account Type.

Choose the appropriate Net Worth and Net Income. Take note that IB focus on high volume traders and therefore it has minimum Liquid net worth requirement of USD50,000 and Annual Net Income of at least USD45,000 to be qualified to trade Options, Forex and Futures. No minimum criteria were specified for Stocks & CFD.


Enter the following for Investment Objectives, The first 2 will limit the strategies you can trade. 16) Enter the products you want to trade. Take note that IB has a requirement that you must have

completed at least 100 trades in Stocks, Options, Futures or Bonds (combined) to be approved to trade stocks. You must have stocks permission as well in order to trade options. Typically most brokers require a 2 year Investment experience and a “Good” knowledge before approving options trading account.

After completing the above, click “Save and Continue”.


17) Read and acknowledge the agreement below. Type your name in the box below to serve as online signature. Then Click “Save and Continue”


Lee Ling Tan

Type your name here


18) You will be asked to review your application information. Review it and then click “Save and Continue”.

nicole123 U1230749 Lee Ling Tan

111. Jalan Besar, Ampang, Selangor, 68000 Malaysia


19) Here are the funding instructions. Interactive Brokers has a minimum requirement of USD10,000 to open an account, and they will not process your application until they received the transfer instruction below.

If you want to fund account now, choose “Transfer Cash” to proceed. (You also can choose “Fund My Account Later”, then click “Save and Continue” and proceed to step 21.)

If you choose “Transfer Cash”, you will see the below page.

Choose the transfer method here.

Set Your Bank’s Name as a file name

Make sure you read this before you continue.

Your Bank’s Name

Your Bank’s SWIFT Code To know the SWIFT Code of your bank, here are the reference: http://www.theswiftcodes.com/malaysia/

Your Bank Account Number

http://www.theswiftcodes.com/malaysia/


20) Once you filled up the Wire Transfer instructions above, you will see this notice.

21) You will need to upload a scan copy of your Identity Card and Proof of address (Utility Bill or Bank

Statement with your name & address). Only the following attachment types are accepted: .gif .tiff .tif .jpeg .jpg .png .bmp .pdf

Take note of this.

Click “Save and Continue”.

U1230749 / Lee Ling Tan


22) Click on “Configure Your Account”

Check these 2 boxes to be able to trade Global CFD’s

Only select this if you intend to also trade US Options (You need to fulfill the

minimum criteria as specified earlier) You will need to select Stocks also in order

to trade options.

You can select other boxes that you wanted to trade. Take note each exchange require

additional data feed and additional agreement to be signed.

You can also add them later once your account is approved.


23) Select “Non-Professional” and you will be prompted on 2 more questions below. Click on “I Agree” for both.

24) You will be promoted to subscribe optional research material by different vendors like the following.

Suggest that you do not select the chargeable ones for now. You can choose the FREE ones. You can always add others you need later.


25) This section is to apply for Live Data Feed from the respective Stock Exchanges. Click on North America tab, select the “NASDAQ Equities” & “ NYSE Equities” in order to get Real Time data quote on US Stocks. If you trade Options, you need to select “US Options” After that, click on Global tab, select “Index CFDs (NP,L1)”. Then click “Save and Continue”.


26) Select “Fixed”.


27) Review your account configuration.

Lee Ling Tan

111. Jalan Besar, Ampang, Selangor, 68000 Malaysia

111. Jalan Besar, Ampang, Selangor,

68000 Malaysia

Admin


28) Follow the instructions and Select “I Agree” after reading. Type your name as online signature. Then click “Save and Continue”.

Lee Ling Tan

Type your name here


29) You will be required to acknowledge the various market data agreement and click “I agree” and type your name as online signature. Then Click “Save and Continue”

Lee Ling Tan


30) Interactive Brokers provides an option for you to choose whether you want an extra secure login device as second layer of protection. Take note that when you choose to have that additional device, you will always have to carry it along to be able to login as you will be prompted an additional code when you login, on top of the password. That additional code will only be available if you have the device with you.


31) Here’s the final page that shows that you have completed the Account Configuration portion. Generally, it takes 1-2 business days (based on US time), to get your account approved. We recommend that you print a copy of your application using the “Print Application” button below. *Note: Remember to upload required documents.

While waiting for approval, you can explore the “Trader’s University” on online education from IB. It’s best that you bookmark this link. https://www.interactivebrokers.com/en/index.php?f=3734

https://www.interactivebrokers.com/en/index.php?f=3734

Interactive Brokers Account Application Guide

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