bad credit rating, can i open IB account, im in UK

[max7]

hi

i have a bad credit rating and would like to open an account with Interactive Brokers, does anybody know if this would be a problem and if i can open an account with them. i heard that some brokers in UK do a credit check before opening an account.

many thanks

 

[Splitlink]

I have an account with them but I can't remember any problems like that. They question you more on your knowledge of the fact that you know what you are doing. This is done by a system of marking boxes and, if you don't answer what they want, they repeat it so that you have to.

Then, as soon as they get the money, you are off!

Just try it. There is no harm done by getting a refusal, is there?

 

[max7]

Thanks Splitlink

did you have any bad credit rating?

i know i could try, but i may have an other option, i have residence in another country so may be i could apply from there and avoid credit checks here. i dont know. or may have to put up with family or friends account if no choice, i really want account with IB.

by the way, i would like to trade US stocks, have you ever had problems with IB? i heard a lot of complaints albeit mainly from forex traders, may be they were unprepared and overtrading newbies.
but good traders say IB are good.

many thanks

 

[Splitlink]

Thanks Splitlink

did you have any bad credit rating?

i know i could try, but i may have an other option, i have residence in another country so may be i could apply from there and avoid credit checks here. i dont know. or may have to put up with family or friends account if no choice, i really want account with IB.

by the way, i would like to trade US stocks, have you ever had problems with IB? i heard a lot of complaints albeit mainly from forex traders, may be they were unprepared and overtrading newbies.
but good traders say IB are good.

BTW, I am talking about a good 8-9 years ago. Times and rules do change.

many thanks

I must be a good trader, then! Seriously, no problems but getting around the site is a bit difficult to understand, at times. Once you are on the trading platform, no problems.

I stopped because, frankly, I was not good enough, then, and mistakes are expensive. So I went back to spreadbetting, at lower stakes and, although, I am trading well, now, I have had no desire to return to IB.

I have no bad credit rating and, in any case, IB want the money up front. If you go below margin, you are stopped.

 

[max7]

if you can please, what mistakes did you make, just in few words?

 

[Splitlink]

if you can please, what mistakes did you make, just in few words?

That's easy! I said that they were going up and they went down! A contract is the equivalent of 10 quid per point. Remember that before you start.

 

[Lord Flasheart]

the credit check is mainly questions and proof of residency,not a full blown credit check as we know it