Interactive broker as personal "bank"

[Martin Everson]

Martin Everson said:
Anyone seen the brexit notice on IB's homepage?

Seems non UK clients using IBUK from EU will need to migrate to one of the new entities in EU i.e either IB Ireland, IB Hungary or IB Luxembourg. Seems IB IE and and IB LU will only offer a max protection of €20,000 and IB HU will offer up to €100,000. Therefore it seems EU clients will be exchanging the $500,000 IBLLC US protection and £50,000 IBUK protection they have now in return for the newer much lower protections.

Is this correct? Anyone got notice of this from IB?
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@jackfrost Are you based in the EU? Does the above IB changes affect you or hsve you heard anything from IB?

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Does anyone know how IB USA sends money to your personal UAE bank account? Does IB have a bank account in UAE and just make a local transfer in one day, or they make SWIFT transfer from their USA/EU/UK/HK bank account that takes several days?