Is Bankera good for Interactive Brokers

Status
Not open for further replies.
Y

yeongsu

New Member
May 30, 2021
43
0
36
I have an IBKR stock trading account and I'm facing slippage of around 9% in forex conversion while depositing funds and withdrawing profits into my local bank account.
As brokers don't allow deposits from EMIs and third-party payments, I'm kinda confused whether I should open a Bankera account for this purpose or not.
I also considered FV Bank but dropped it from the list as I couldn't find any reliable review about their services.
Main objective is to hold my profits safely in an account where I wont lose any money in form of slippage and also get to spend it freely.
I don't want to form an offshore llc just for stock trading as the company maintenance and taxations are a bit confusing.
If anyone knows any better solution, please comment.
Please and Thanks.
 
Bankera will be perfect for this. You will be able to transfer funds from/to interactive brokers to your personal Bankera IBAN account
 
Depending on your passport and residency.
If you are from high risk country you could get compliance problems and rejecting such deposits.
 
They are good, the banking platform is just very simple if you ask me, too simple.

Toggle signature
Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.
 
uplana said:
uplana said:
They are good, the banking platform is just very simple if you ask me, too simple.
Click to expand...
Click to expand...
Gediminas said:
Gediminas said:
Yes, I use my Bankera account for IBKR.
Click to expand...
Click to expand...
Thank you for your response.
If you don't mind, please tell me about their 3 level of kyc, as I've seen some thread here where people mentioned that they got rejected even after paying €400 something.
 
so other EMIs still work well with Interactive brokers?

Wise.com is not work with IBKR now...
 
I also need a bank account in my name to transfer money from crypto sales to IB (banks in my country don't accept deposits from crypto exchanges).
This comment from two weeks ago implies that IB will reject deposits from Bankera/SpectroCoin (they are based in Lithuania).
Note that Bankera and SpectroCoin are basically the same entity.
Right now, based on the post I linked, I'm looking into Swissquote and Saxe.
Based on other people's comments I already disqualified Wise, Revolut, and N26 as they don't seem to be crypto friendly right now.
 
penitentials said:
penitentials said:
This comment from two weeks ago implies that IB will reject deposits from Bankera/ SpectroCoin (they are based in Lithuania).
Click to expand...
Click to expand...
Yes, I've seen several comments like this. According to an old member, the reason behind IB rejecting EMI transactions is either failure to prove the source of income (money that is being deposited), transacting significantly large amounts or depositing from one bank/emi and withdrawing to another.

penitentials said:
penitentials said:
Based on other people's comments I already disqualified Wise, Revolut, and N26 as they don't seem to be crypto friendly right now.
Click to expand...
Click to expand...
Well, for the crypto part, swissquote seems a good solution for you. Refer to this comment.

However, I'm just looking for a stable solution to deposit and withdraw money to/from IBKR and transfer from that bank/emi to my home country bank account without any problem. And I'm okay with proving valid source, paying required taxes etc.
 
penitentials said:
penitentials said:
This comment from two weeks ago implies that IB will reject deposits from Bankera/ SpectroCoin (they are based in Lithuania).
Click to expand...
Click to expand...

They won't. The deposits will go through, because Bankera allows sending and receiving money to 3rd party (like any other retail bank account). So IBKR wont block that either. I tried it many times. My clients are using it for IBKR as well.

Some of the comments might mislead you wrongly.

Toggle signature
https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!
 
Thanks a lot @Gediminas , so you think a $500,000 transfer from Bankera to IB should go through without issues?
I have my IB account for 5 years and it has assets in about $700,000 if that matters.
Also, does it matter if I use Bankera or SpectroCoin for this?
 
penitentials said:
penitentials said:
Thanks a lot @Gediminas , so you think a $500,000 transfer from Bankera to IB should go through without issues?
I have my IB account for 5 years and it has assets in about $700,000 if that matters.
Also, does it matter if I use Bankera or SpectroCoin for this?
Click to expand...
Click to expand...

Yes, it will go through.

I will PM you to give more details.

Toggle signature
https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!
 
penitentials said:
penitentials said:
Thanks a lot @Gediminas , so you think a $500,000 transfer from Bankera to IB should go through without issues?
I have my IB account for 5 years and it has assets in about $700,000 if that matters.
Also, does it matter if I use Bankera or SpectroCoin for this?
Click to expand...
Click to expand...

Please let us know what will be in result after attempt to sent 0.5 mil with emi to ibrk.
It should rise compliance flags, curious how it would fixed.
 
Sure, I will give an update, will probably take some time.
Note that Bankera is not just an EMI, it gives you a real personal IBAN in your name, so this shouldn't be flagged as a third party deposit.
 
penitentials said:
penitentials said:
Note that Bankera is not just an EMI, it gives you a real personal IBAN in your name, so this shouldn't be flagged as a third party deposit.
Click to expand...
Click to expand...
awesome, but are they a licensed bank or an EMI ?

Toggle signature
Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.
 
Yes, but only in Lituhania and not in EU: Is Bankera Legit?
I actually tried to look them up in the Bank of Lithuania database for licensed bank, and they don't show up there. The reason seems to be according to their website:
"Era Finance Ltd is a registered agent of Pervesk UAB which is an electronic money institution authorised by the Central Bank of Lithuania (Licence No. 17) for the issuing of electronic money and payment instruments"

Pervesk UAB does seem to show up in the Central Bank records.
 
Yeah, bankera is a perfect choice if you use ibkr. I am new to the market but I use both and it is quite comfortable.
 
Status
Not open for further replies.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

Forums

User Menu

Login
Community platform by JohnnyDoe © 2025 JohnnyDoe
  • Width
  • Queries
    12
  • Time
    0.5367s
  • Memory
    14.10MB
Top Bottom