How long to open an a/c with IB?

This is a discussion on How long to open an a/c with IB? within the Brokerages forums, part of the Commercial category; Hi all Am in the middle of the account opening process and am already cheesed off with them. The 'newaccounts.uk' ...

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Old Sep 8, 2003, 11:23pm   #1
 
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How long to open an a/c with IB?

Hi all

Am in the middle of the account opening process and am already cheesed off with them. The 'newaccounts.uk' email address that they give on the web site doesn't seem to work, so I eventually faxed my personal id stuff to them (which goes to Switzerland I think) Still haven't heard from them for a few days so sent an email to them via their contact IB page - no reply so far. I know they are cheap but I am really worried about what happens if I open an acount and then have a problem and cant communicate with them?

So now I dont know whether I'm just being impatient or they haven't received my fax or something else is wrong. How long did it take you guys to get an account up and running with them?
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Old Sep 8, 2003, 11:43pm   #2
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It took about 2 weeks for me before I was able to trade. I only trade US stocks and have tested the speed at which I would be able to close a trade if I was unable to do so online and needed to call their trading desk and it was less than 60 seconds from identifying a problem to talking to ther trading desk which is not bad in my view.

Opening the account is a pain but worth it in the long run.


Cheers


Paul
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Old Sep 9, 2003, 12:06am   #3
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Have to say mine was really really quick. Sent the details off ( all by email ), had a reply back the next day confirming account open. Wired the money, was up and running with 7 working days.
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Old Sep 9, 2003, 12:26am   #4
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Took me even less time than rossored. Everything was extremely efficient and done either by e-mail or on the site. Much quicker and easier than sending off forms by post. The account was funded by wire from the natwest and up and running without difficulty or delay.

Seems to me the main problem is many applicants for accounts either don't read the instructions or, if they do, don't follow them!
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Old Sep 9, 2003, 5:53am   #5
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Maybe you failed the exam !!

My application was very quick - within a week.
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Old Sep 9, 2003, 8:00am   #6
 
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waytogo started this thread Rossored & Oldun - do you remember what the email address was that you used?

Also on one of their website pages there is a Q&A which says that stops on the Nasdaq are activated when either the bid or offer price is reached, rather than the last traded price - anyone notice this happening on any other exchanges or does this only apply to the Nasdaq?

PS I passed the exam - it wasn't that difficult!
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Old Sep 9, 2003, 8:24am   #7
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I just went through the .co.uk IB address for the application, but I'm afraid I never had to email them directly because the process went so smoothly. All the stuff I emailed off to them (passport, d/l etc) just went via the application process, so I dont know the email address, sorry.

Dont know about your other question, I dont trade the nas

Cheers,

RR

Edit : actually I just remembered sending an email to them about some additional funds i wired, that email went to help@interactivebrokers.com and I got a reply within 4 hours so my email client says!
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Old Sep 9, 2003, 8:29am   #8
 
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Technically, a stop should be activated on bid or offer but we used to give clients the option if we were in touch.
Re IB I was up and running in about a week. I appear to have dealt with newaccounts.uk@interactivebrokers.co.uk

Good luck
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Old Sep 9, 2003, 9:35am   #9
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My understanding of "Stop" orders is that you have the option as to how they are triggered as shown in the attached image unless I have misunderstood it. Basically you can choose which method you want of the options given.


Cheers


Paul
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Old Sep 9, 2003, 9:41am   #10
 
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waytogo started this thread Thanks guys

Oatman - thats the email address I've used and everything I've sent to them either with or without attachments has been bounced back to me, so I don't know whats happening there.

I'm sure that when I traded the FTSE with Easy2trade the stop was activated on last traded price, so I hope its the same with IB
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