Interactive Brokers moving out of the UK

Hello there,

I just found out IK decided to move out of the UK for Ireland, Ungary and Luxemburg. I don’t know yet which one we’d be affected to, as swiss investors. After reading the new conditions of the Luxemburg one, my biggest troubles and worries are:

-Apparently the assets were insured under american law (for stocks) or british law (for options and else?), means the US government would protect a vast amount of our assets (until 300’000 usd? very unsure about it). I read in the conditions that now everything goes under Luxemburg law, which covers only 20’000 euros (which seems ridiculusly low? Is that only in specific cases per each company whose stock you own? Am I mixing up informations there?). The Hungary based system covers 100’000 euros, obviously.
-We can’t trade OTC metals anymore? Why is that?
-Will you still trust IK and stay with them after the migration?

Thanks for your insights, best greetings
Nekabo

Please use the search function in this forum the topic was already discussed. Switzerland is not part of the EU and stays with IBKR UK

3 Likes

ok thanks. I’m new here and didn’t know this function.

Hi, logged on the blog for the same reason. I cannot seem to find the original post even with the search function; could anyone be so kind to link it?
Thanks!

3 Likes

Thank you! That’s reassuring :muscle:t3:

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