I tried opening an account at IB and there is a question whether I work for a financial company.
I work for an investment foundation, we sell our own funds to private and institutional clients. However the funds are not managed by us, instead they are managed by a bunch of different, independent asset managers.
The definition from IB is not clear enough for me to tell whether this counts as a financial institution.
They are only sold to pension funds or 3rd pillar clients.
I assume that this whole thing is to avoid that people do front/parallel running of trades or similar prohibited trading practices, because they have some informational advantage/insider information, which is definitely not the case for me.
That’s a great idea, I will try that.
I opened the account in the meantime and it looks like everything got accepted and I’ll be able to trade as soon as my funds arrive there. I asked our compliance officer and he did not receive any communication from IB.
I received a notification from IB with instructions on what I need to send to my conpliance officer. I prepared everything to send it on the following Monday.
Then suddenly I got a notification from IB that the registration is now complete and I can start trading. I asked our compliance officer whether he received anything or not, but he did not receive anything. Maybe they noticed during the process that it doesn’t apply to me.
I was able to transfer money and invest it successfully.
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