Interactive Brokers and Australian Clients

moka2

Established member
529 13
Hi

Any Australian traders who are clients of Interactive brokers in US?
Are you annoyed with the recent issues IB is having with Australian regulators resulting in reduced services to Australian clients?

http://www.bloomberg.com/news/articles/2015-06-24/australia-regulator-blocks-interactive-brokers-currency-trading

I am now one can't even transfer AUD to other currencies upfront within TWS!
Why because IB does not seems to have a OTC forex licence in Australia.
What a mess, a broker as big as IB can't sort out the issues they are having with ASIC! Many foreign owned brokers have Australian licences to name a few Options Express, in Fx = FXCM, Oanda, IG markets , Saxo even betting exchanges like Betfair are here ?(irrespective of initial opposition by local bookmakers and large betting pool operators)

They still don;t offer MArgin T a/c to Australians
Can't trade Single Stock Futures
Can't short stock

IB if you are listening sort out the mess (stop blaming the regulator) or stop taking Australian clients
 

hhiusa

Senior member
2,687 139
Hi

Any Australian traders who are clients of Interactive brokers in US?
Are you annoyed with the recent issues IB is having with Australian regulators resulting in reduced services to Australian clients?

http://www.bloomberg.com/news/articles/2015-06-24/australia-regulator-blocks-interactive-brokers-currency-trading

I am now one can't even transfer AUD to other currencies upfront within TWS!
Why because IB does not seems to have a OTC forex licence in Australia.
What a mess, a broker as big as IB can't sort out the issues they are having with ASIC! Many foreign owned brokers have Australian licences to name a few Options Express, in Fx = FXCM, Oanda, IG markets , Saxo even betting exchanges like Betfair are here ?(irrespective of initial opposition by local bookmakers and large betting pool operators)

They still don;t offer MArgin T a/c to Australians
Can't trade Single Stock Futures
Can't short stock

IB if you are listening sort out the mess (stop blaming the regulator) or stop taking Australian clients
Why not form an American LLC with a foreign qualification? Your market data fees will increase but that is a small price to pay for the streamlined service. I prefer their institutional services.
 
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