Interactive Brokers disclosure documentation tsunami


Experienced member
Anyone ever read this stuff? It seems I'm legally obliged to read the whole lot if I want to know what to expect. And not just once - every six months. This is the 3rd time I should have read them in 18 months now.

Surely this would be deemed excessive and if I did end up losing out for some reason and it went to court, they wouldn't be able to say, well it was in the risk disclosure documentation.

  1. Disclosure of Risks of Margin Trading;
  2. Portfolio Margin Risk Disclosure Statement;
  3. Electronic Trading and Order Routing Systems Risk Disclosure Statement;
  4. Risks of After-Hours Trading;
  5. Risk Disclosure Statement For Forex and Multi-Currency Accounts;
  6. Day Trading Risk Disclosure Statement;
  7. Interactive Brokers’ Order Routing and Payment for Order Flow Disclosure;
  8. Risks of Trading Equity Options and Terms and Conditions for Trading Equity Options;
  9. Important Information About U.S. Equity, Options and Futures Exchange Rules;
  10. Disclosure Regarding Interactive Brokers' Procedures for Allocating Equity Option Exercise Notices Assigned by OCC;
  11. Notice Regarding Pre-Arranged Trading on U.S. Futures Exchanges;
  12. Interactive Brokers Disclosure Statement for Bond Trading;
  13. Interactive Brokers LLC General Disclosure on Mutual Funds;
  14. Algorithmic Execution Venue Disclosure;
  15. IB’s Order Handling Procedures on Multiple Canadian Equities Marketplaces;
  16. Important Information About Interactive Brokers Penny Option Pricing System;
  17. FINRA Investor Protection Information Resources (Rule 2267);
  18. Notice Regarding NFA's Basic System;
  19. Customer Consent to Accept Electronic Records and Communications;
  20. Interactive Brokers’ Customer Information Policies and Procedures;
  21. Interactive Brokers Group Privacy Statement;
  22. Interactive Brokers LLC Business Continuity Plan Disclosure;
  23. Client Standing Authorities (applicable to customers from Hong Kong);
  24. Hong Kong Risk Disclosure Statement;
  25. Notice Regarding Related Accounts;
  26. Information on Filing Complaints;
  27. Information about SIPC;
  28. ISE Disclosure for Orders over 500 Contracts;
  29. USA Patriot Act Section 311 Notices
  30. Notice Regarding Phishing Scams; and
  31. IB Financial Statements.
I guess the Interactive Brokers employee who used to be on the forum doesn't log on anymore.

I think I can afford to ignore 24. Hong Kong Risk Disclosure Statement.
It's a crazy amount of documentation to sign off. I opened an account with IB about a month ago and have had no issues so far. Their support is pretty good, despite what you might read on various trading blogs. Commissions are low to boot.
As lawyer I can tell you there's been a lot of litigation against brokers, but also settlements in closed doors, especially regarding SB and CFDs, hence the reason why many brokers working in those areas are advised by counsel to make sure that clients are risk aware. I find it positive that a broker such as IB are reminding clients and investors to read the terms. It's important, and I read mine all the time, though it can be hugely daunting, you need to skim or skip those sections that don't apply, but, borrowing an English phrase: "putting the kettle on" is probably a good start.