IBKR account shut down. Can I open in a different IBKR jurisdiction?

[Frankie]

Due to some stupid mistake my IBKR account got shut down (I tried to open a corporate account, they didn't like it and shut down my personal one).

Can I open a personal IBKR account in a different jurisdiction, for example IBKR Ireland or IBKR Singapore, or will they immediately decline it? What about if I use a different residency?

I have proof of wealth, proof of funds and all of the rest of it.

 

[SCHLOSSFINANZ]

no. Compliance is centralized.
Try Corner Trader

 

[DigitalAffiliate]

Do they not let you hold both a corporate and a personal account? I thought‌ they were ok with that

 

[Martin Everson]

Look elsewhere outside IB and live and learn.

 

[FreedomSearcher]

Which brokers do you recommend?

 

[alley]

It’s really a shame that they’re acting like that. It’s one of the few services‌ that’s actually good and also quite affordable to use.

 

[Martin Everson]

Which markets do you need?‌ What fees are you looking to pay etc?

Obvious one is just to go to‍ Saxobank. But its not as cheap and you don't get the tools you get with⁠ IB.

 

[avalanche]

My two favorites are Exante‌ and Tiger Brokers. I like Exante for minimalist trading interface yet with all basic features‍ needed for trading and Tiger for being based in Singapore and detailed interface with lots⁠ of fund recommendations and financial analysis tools

Another advantage of Tiger is that they offer⁤ access to Singaporean market which is good if you plan to buy Fullerton money market⁣ fund

 

[SCHLOSSFINANZ]

cornertrader.bs
cornertrader.ch
swissquote.ch
xtb.com

 

[bubbledouble]

Do you know if⁤ it requires a company in Singapore to get an account there?

Can we trade worldwide⁣ stocks?

 

[Frankie]

How about if I use an‌ IBKR whitelabel? Who does the compliance, the bank that whitelabels or again the main IBKR?‍ (I suspect then I could open but it will be slightly more expensive)

Just US markets. SAXO is⁣ indeed good.
I just wanted IB as it was cheap and extremely solid, publicly traded,⁢ audited, etc.

Thanks for︄ your recommendation.

As far as︆ I know you don't need a company in SG and you can trade any stocks.︇ I don't have a Tiger broker account but it is on my list.

They are OK with it, but I︊ made a mistake and I guess due to my corporate structure my risk profile suddenly︋ seemed higher (even though it isn't).

Anyway, you live and learn indeed. And the bad︌ thing about IBKR is that there is nobody to talk to, it was an automated︍ decision and that's it.

 

[Piano]

With which ones you have experience‌ ?

 

[Clank]

I would avoid‌ the Swiss ones as they are very expensive and don't provide you anything you can't‍ get in Singapore or Hong Kong. In fact if you are from an EU country⁠ it's worst due to Lugano convention.

 

[SCHLOSSFINANZ]

with all. They‌ are good

 

[avalanche]

You can trade worldwide stocks,‍ it has access to US, AU and EU markets.

I dont know about having account⁠ as company, I only have personal accounts there. And I'm not from Singapore

 

[avalanche]

IBKR do have phone support, a few years ago I reached them⁠ and they helped me regain access to account even though Im not from the US.⁤

 

[lacomaco]

Exante is owned by⁤ individuals, while Saxo is owned by one of the largest Swiss private bank.

 

[avalanche]

Did I say anywhere that Exante is better‍ than Saxo? Not sure why you try to compare them.

 

[Martin Everson]

Saxo bank is still majority Chinese owned (Geely Group). I don't think the bank J. Safra Sarasin Group 70% purchase deal has gone‍ through yet has it?