I did an account with them to test, it did not so well, as The Poor Swiss mentioned in the article. The third party identity verification is really a pain but once done it’s forgot. Then I had several issue with my account because I used an alias email (like firstname.lastname@example.org) and it’s linked to the username of the account but if you then change the email address the original one use to open the account stay as username. It’s bit strange and not so clean, imagine you use an email account to register and then don’t have access to it anymore, you will always have to login with this old email address, for people using password manager it might not be a problem but for others it might be annoying.
Once all the problem solved and there is this thing about demo portfolio (by default with 100kCHF) that need to be converted to a real one. When you send money to Interactive Brokers with your IB account reference (the one created by Investart for you, in case you already have another one directly from IB, not my case) it will be visible in your IB (read only) account but in my case it was not invested automatically as it’s suppose to be. They had to solve something manually but again it might be due to my email alias issue.
Now I have my money invested and the demo portfolio with 100kCHF is showing my real assets, it’s just strange that in the history I have fake transaction with a value of 0 that buy and sell asset for the demo (when I was selecting my products) and the value history goes suddenly from 100kCHF to my real amount at the time it was converted to a real account.
This all thing with demo account is somewhat confusing and they should make them totally separated. I even though I add to create a new “non-demo” portfolio to start with I end up with a request to open a second real portfolio in IB, not what I want to do at all.
Now it looks like working fine, I have no money to add in the account, it was just a kind of test and a way to have a first step in investing. I’ll see if I keep it open and add money, maybe until I have 100k to switch to a real IB account. By the way I asked what happen if I want to close my account, if I can convert the IB account to a real one directly controlled by me. The answer was not clear but they said I should open an account at IB directly if it’s what I want to.