IB futures: trading permissions

riddle

Member
67 4
I feel a bit silly having to ask this :eek: , but...
How do I go about convincing IB to allow me to trade futures? I'm not sure that I want to, but I would like the option. So far, whenever I select 'US futures' on the trading permissions page, I get:
Failed to satisfy acount criteria

Your request cannot be processed as you don't satisfy the financial and trading experience requirements for the account type, or your objectives are not appropriate for the type of account.
Please review your financial and trading information


On the financial/investment information page, I've selected income, growth, profits and speculation, (leaving off preservation of capital). I've claimed 15 years experience, extensive knowledge. I've lied about my net worth and income too! In short, I've done all I can think of, and still no go.

Now I know that there are lots of people trading futures with IB who aren't millionaires. So what does it take?
Thx,
Steve
 

GreyingSurfer

Active member
173 0
Steve,

You do have to take a little multiple choice test before they will let you trade futures. I can't remember how you get to it, but I seem to remember they made it pretty obvious what you had to do.
 

Hittfeld

Well-known member
437 12
And you should not only have claimed 15 yrs experience -with stocks only, but also (for example) 5 years options, 2 years futures including fitting no. of trades. If you haven`t got any experience with futures they won`t let you get it at their firm.

Hittfeld
 

osho67

Well-known member
407 3
Do they tell you before you send the funds?
 

osho67

Well-known member
407 3
Can one go to account management and tick the permissions you want. I think I did that for options.
 

riddle

Member
67 4
Thanks everyone. It looks like Hittfeld had the missing piece: number of years trading commodities. That allowed me to do their little quiz. Now I'll see if they approve the change. And whether I have the guts to actually go for it.
Steve
 
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