IBKR Compliance

[liroyb]

IBKR opened my account after requiring only bank statement from the account I'm intending to fund the account. No source of wealth/origin of funds check. Is that common? or further check is going to come later on?

 

[JohnnyDoe]

It's ok, as you can only send to/receive from an account of yours they are not supposed to perform all these checks.

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[JackAlabama]

you still indicated⁠ how much you have.
Eventually they will ask you later which they do often. Just⁤ make sure it matches. So dont indicate total wealth 100k and then deposit 1M.

 

[cryptofriendly]

Really? So if I tell them I got⁠ 10M, and just deposit 1Ms from accounts in my name (and if I remember correctly,⁤ one could even deposit crypto at some point), they won't ask any SOF/SOW questions?

Sorry for the stupid questions, I haven't used IB since the COVID crash, but it might⁣ be of use in the future, one never knows. Loved their low margin interest rates⁢ (and they were actually the very reason my account got decimated during the crash).

 

[apres777]

I mean it's⁢ not THAT simple there always can be questions regarding SOF.

Generally speaking though IBKR has︀ been also a great experience for me since years, and never bothered me with pointless︁ request.

 

[JackAlabama]

if you have⁠ paper for 10M then yes.