Interactive Brokers - Compliance questions regarding deposits

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JohnnyDoe said:
JohnnyDoe said:
Anyway, while I sympathize with OP, I think that he must have done some big mistake in his opening forms and/or with the account usage. I find IBKR compliance quite easy to deal with and I never had any problems with them even when using the most obscure structures. I am a client since about year 2000.
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I'm about to open an account with them, and wouldn't ve known not to write self-employed as an occupation. Most funds would come from Paypal or from Wise. Any recommendation on how to open the account and not raise flags? How easy is it to withdraw funds later on?
 
Deepbarrels said:
Deepbarrels said:
I'm about to open an account with them, and wouldn't ve known not to write self-employed as an occupation. Most funds would come from Paypal or from Wise. Any recommendation on how to open the account and not raise flags? How easy is it to withdraw funds later on?
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Really IBKR is quite easy to open, just tell them what is your business and don't do anything too stupid like saying you don't have experience with trading or that your net worth is X and then deposit X*10

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JohnnyDoe said:
JohnnyDoe said:
Successful negotiation of everyday life would seem to require people to possess insight about deficiencies in their intellectual and social skills. However, people tend to be blissfully unaware of their incompetence. This lack of awareness arises because poor performers are doubly cursed: Their lack of skill deprives them not only of the ability to produce correct responses, but also of the expertise necessary to surmise that they are not producing them. People base their perceptions of performance, in part, on their preconceived notions about their skills. Because these notions often do not correlate with objective performance, they can lead people to make judgments about their performance that have little to do with actual accomplishment.

Source: “Why People Fail to Recognize Their Own Incompetence” from Current Directions in Psychological Science

In other words: stupid people are too stupid to realize they're stupid.

Bonhoeffer:

Stupidity is a more dangerous enemy of the good than malice. One may protest against evil; it can be exposed and, if need be, prevented by use of force. Evil always carries within itself the germ of its own subversion in that it leaves behind in human beings at least a sense of unease. Against stupidity we are defenseless. Neither protests nor the use of force accomplish anything here; reasons fall on deaf ears; facts that contradict one's prejudgment simply need not be believed- in such moments the stupid person even becomes critical ”“ and when facts are irrefutable they are just pushed aside as inconsequential, as incidental. In all this the stupid person, in contrast to the malicious one, is utterly self-satisfied and, being easily irritated, becomes dangerous by going on the attack. For that reason, greater caution is called for than with a malicious one. Never again will we try to persuade the stupid person with reasons, for it is senseless and dangerous.
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Dunning-Kruger. I read the study in 1999. A former professor sent it to me because I disliked "those" people - Thanks for sharing this. I needed to laugh.
 
bigbite100 said:
bigbite100 said:
Hey guys, they keep asking stupid questions. Now they would like bank statements of all banks which made deposits to the account from the last 6 months to check the source of funds. I dont trust them anymore. What will happen if they somehow decide they cant explain the source of funds? Will they just close the account and pay out the money or will they keep it?
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So, what happened? How did you solve this issue?
 
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