InteractiveBrokers + Seychelles IBC -> account closure
- Thread starter Jelda
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do you have any suggestion for a broker offering the same kind of features than IB that would accept an offshore company?
Saxo Bank's brokerage account has a good coverage, incl. acceptance of some IBCs, if the beneficial owner(s)' residencies aren't too spicy. You need to acquire a LEI number if planning to register your entity for trading with Saxo... about $100 a year to maintain it.
@Patrick846
And if Saxo gives bullocks, try Swiss Quote. Specifically swissquote.ae (UAE). Could be wrong here, but that branch seems like a purpose-built container for spicier client profiles to offer some compliance-related relief to the Swiss parent.
Enjoy!
And if Saxo gives bullocks, try Swiss Quote. Specifically swissquote.ae (UAE). Could be wrong here, but that branch seems like a purpose-built container for spicier client profiles to offer some compliance-related relief to the Swiss parent.
Enjoy!
I guess this is the reason for recent actions of IB: Interactive Brokers to pay $38 million in penalties to U.S. regulators
You opened an account with EPB i.e a crap EMI with a banking license and still keep it open in 2020...lol. Firstly the bank is opaque and you know next to nothing about the financials or ownership of the bank. Secondly the bank was compromised some years ago i.e see thread on EPB data leak. Thirdly if you are using it to avoid CRS your screwed. So I hope your not using it to hide money as your about to get a rude awakening if you are.
Don't do this....lol.
Read the banks terms and conditions first which may cover crypto activity and if in doubt ask them. A suck it and see approach to banking today is not advised.
Read the banks terms and conditions first which may cover crypto activity and if in doubt ask them. A suck it and see approach to banking today is not advised.
Depends on which IB entity your using. Protection can range from garbage€20k protection in case of IB Lux entity to the much greater protection for IB US. I would not say any broker is 100% reliable as IB has had problems as recent as negative oil price saga. See below thread about deposit insurance.
https://www.offshorecorptalk.com/th...rs-and-brexit-lower-account-protection.31731/
Depends what you are looking for and your situation as everybody is different and we all want different︀ things from a broker. If you want a cheap discount broker that's available to most︁ people globally then IB is a good proposition.
https://www.offshorecorptalk.com/th...rs-and-brexit-lower-account-protection.31731/
Depends what you are looking for and your situation as everybody is different and we all want different︀ things from a broker. If you want a cheap discount broker that's available to most︁ people globally then IB is a good proposition.
This does not sound correct at all. You should be able to fund your IB from any account in your name.
https://investmentmoats.com/money/fund-withdraw-interactive-brokers-account/
https://investmentmoats.com/money/fund-withdraw-interactive-brokers-account/
as I said some time ago, they do an enhanced due diligence with funds from banks in high risk jurisdictions and can reject them lol but they actually don't block your account unless they think you are doing something shady like money laundering or securities fraud
https://www.finra.org/sites/default/files/2020-08/Interactive-brokers-awc-081020.pdf
Since 2013, Interactive Brokers’ business has grown dramatically. In addition to having grown in size – in terms of numbers of customer accounts and securities and money transactions 2 executed – it has also grown in scope. In particular, the Firm has significantly expanded its relationships with foreign financial institutions (“FFIs”), for whom the Firm performs clearing services, including hundreds of FFIs located in high-risk jurisdictions. From January 2013 through September 2018 (the “Relevant Period”), however, Interactive Brokers failed to develop and implement an anti-money laundering (“AML”) program reasonably designed to match its growth.
Since 2013, Interactive Brokers’ business has grown dramatically. In addition to having grown in size – in terms of numbers of customer accounts and securities and money transactions 2 executed – it has also grown in scope. In particular, the Firm has significantly expanded its relationships with foreign financial institutions (“FFIs”), for whom the Firm performs clearing services, including hundreds of FFIs located in high-risk jurisdictions. From January 2013 through September 2018 (the “Relevant Period”), however, Interactive Brokers failed to develop and implement an anti-money laundering (“AML”) program reasonably designed to match its growth.
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