Anonymous
I need to have a minimum of 10k USD deposit to start an Interactive Brokers account?
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Normally I do not think that there is a minimum deposit requirement? Usually the amount of 10k is for perks like lower commission fees. My understanding is also for SAXO, initial 10k USD is required to open the USD account with them so that you can straight away transfer in USD instead of SGD then they convert to USD at their conversion rate for you. It could be the same for IB!
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Maisul
13 Aug 2020
Youtuber at Google (Channel : Say Do Invest)
I am not sure about interactive brokers but for a normal brokerage account a minium of 3000 would su...
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No, there is no min account deposit for a IBKR Client account aka retail investor account.
More details on their website: https://www.interactivebrokers.com/en/index.php...
Fyi, IBKR does however have monthly activity fees of 10USD/mth (or 3USD/mth if you are 25yrs or younger) if your total account has less than 100k USD.
Thus, I would say IBKR is less suitable for accounts with less than 10k and little trading activity to make up for the monthly activity fee.