I just opened an account in interactive brokers and it created a UK based account.
In the guide: Why choose Interactive Brokers? - Mustachian Post (aka Marc Pittet) #FIRE #frugalism?
under: 3. Protecting your securities and cash
I see references to SPIC
I was wondering if I need to open an account in Interactive Brokers US to have this protection or does it suffice to have the Interactive Brokers UK account.
Can anyone shine light on this subject?
Thanks in advance
As a Swiss investor, you can’t open an account on IB US. And IB UK has the SIPC protection as well. So, you are all set
You can’t? I remember when I opened an account they asked me if I want to trade crypto or not. When you clicked yes, they said in this case they can’t open an account for me at IB UK but with IB US and Paxos. Eventually I clicked on no because I don’t want to trade crypto and I preferred an account with IB UK, so I don’t know if it actually would have worked if I would have said yes.
Interesting. I never actually tried, but I have been told that IB US was only for US investors.
Thank you for your comments. Indeed it was the crypto options that made me wonder.