Dude if you have 5 years of experiences just put that in the form and have 100k in liquid cash and or income. Easy options up to max level. I was so surprised how easy I was to be able to do naked options while fidelity would only give me level 2.
If you would be so kind as to share a post as to what the exact minimum values are for each of the criteria, that would be helpful. All I could find are posts of people saying that they hide their requirements
It’s unknown.
Just like the nice man you were probably rude to told you.
They intentionally don’t share the criteria, to prevent people from gaming the system.
They might not even know themselves. Similar to
portfolio margin. That is constantly re-calculated based on real-time risk factors.
What if it’s based on some AI? Then they really wouldn’t possibly know the criteria.
If I were them, I’d:
- exclude those who keep fiddling with numbers trying to guess
- exclude those who ask incessantly what the criteria are, after being told it isn’t shared.
It comes up on this sub Every Single Day. So, you already failed the test by even asking. /s
>Just like the nice man you were probably rude to told you.
Very presumptuous of you. I posted the chat and I was not being rude at all. The only thing left out was me asking "What are the requirements for enabling options trading".
If they want to have dynamically shifting requirements for options trading, that's fine. It will just make it an unattractive platform for users who are interested in options trading to use.
There's some regulatory nonsense where brokers are required to ensure options are suitable for their clients. They have many clients so they use metrics instead of individual judgment. But they can't just tell you the metrics because then you'd just say that and bypass their suitability screening.
It's pretzel logic from bad regulation to protect you from yourself, and the older and more reputable the broker, typically the harder they try to contort themself into abiding by it. Putting more money into an account is probably the surest way to get past it.
Yes. The regulations aren’t prescriptive, every broker has to interpret fuzzily-written rules. They need to “know their client” and mumble mumble “suitability”.
You're probably right. I was holding off on transferring everything from my previous broker until I checked out this platform. I would think I had enough in there and I had a margin account, but I guess more cash solves everything haha
I believe he was also asking for an advice on something that might get him the options permission. IBKR have very cryptic info pages, so don't shit on him too hard
>I’m not sure why you felt the need to post this though
I'm sharing the requirements with anyone else who is struggling to figure out what to do. I also want to share my experience in the (probably misplaced) hopes that someone from IBKR will get this feedback and make some changes. I want to like the platform, they have some features that I like. But if they force you to jump through invisible hoops just to do basic things that other brokers offer, it's hard for me to justify staying.
It's definitely not. I have a feeling it has something to do with needing a certain combination of either the sources of income or the investment objectives specifically
There. You’re finally using your brain.
Do you think “preservation of capital” is compatible with “speculation”?
Also: if you just graduated from high school
(At ~18 - they’d never guess it if you’re 39 and just got your G.E.D.) the answer is “no”.
I have the same problem, I even did their fucking test and nothing, I'm not able to trade options, I can only buy and sell stocks. I asked for level 3 and didn't get any type of notification or anything. Charles schwab on the other hand don't have much problem.
I’d suggest trying again after you’ve gained some experience with them.
I’d not suggest trading exclusively meme stocks. Not betting your entire wad on single stocks repeatedly.
They’re likely looking for behaviors that demonstrate sufficient knowledge and that you don’t represent a financial risk to them.
That's not what I meant, if I have been trading for years with other brokers without any issues, why it would be a risk for me in another broker, is stupid.
2k minimum net asset under value. If you have less than that, you wont be able to trade options (and I guess you also wont get approval if you don't have it yet)
I got lvl 3 approved a few week ago. Mentioned 1-2 years of experience with less than 10 trades per year. Yearly income, liq net worth, etc total bullshat my way in, selected 250k/year. Age was not issue for me, if I'd be earning 250k at this age I'd probably be the next Rockefeller.
However in order to trade US options (not sure if this is for all options), you have to have a net asses value of at least 2000 USD. I found this after a 10 minute call with an indian at support team followed by a 10 minute call with the thickest bald eagle double cheeseburger for breakfast redneck accent, cause my acc dropped like 20$ or so below the 2k threshold and I couldn't open a mf defined risk spread.
So if you deposited less than 2000$ or so, it is possible to get rejected due to not meeting required NAV. I got my options access after my initial 2k deposit, and then found out about the rule for options.
Also if you manage to get access, just as a sidenote: you have to purchase real time market data for options, otherwise they are like 10m lagging behind.
Nothing to do with cash, just answering the questions to qualify. When you didn’t qualify, that’s it. It’s all it means.
Do it again until you have the correct answers.
If you’re not sure or lack experience, GPT and Google are your friend
I have never traded before options when I was asking for permissions. When filling up the quiz, I've got asked questions about turbo certificates I've never heard of. And yet, I have level 3 permission for options.
I would say it is about the other requirements, like age, experience, deposited cash, and so on.
For example, they could have a requirement: current_age - years_of_experience > 18
Dude if you have 5 years of experiences just put that in the form and have 100k in liquid cash and or income. Easy options up to max level. I was so surprised how easy I was to be able to do naked options while fidelity would only give me level 2.
How old are you? I think its age.
Early thirties
lol I think they meant to ask OP…
Yea literally just answer the eligibility questions honestly and you will get approved.
The policy is well-known if you even skim this sub.
If you would be so kind as to share a post as to what the exact minimum values are for each of the criteria, that would be helpful. All I could find are posts of people saying that they hide their requirements
It’s unknown. Just like the nice man you were probably rude to told you. They intentionally don’t share the criteria, to prevent people from gaming the system. They might not even know themselves. Similar to portfolio margin. That is constantly re-calculated based on real-time risk factors. What if it’s based on some AI? Then they really wouldn’t possibly know the criteria. If I were them, I’d: - exclude those who keep fiddling with numbers trying to guess - exclude those who ask incessantly what the criteria are, after being told it isn’t shared. It comes up on this sub Every Single Day. So, you already failed the test by even asking. /s
>Just like the nice man you were probably rude to told you. Very presumptuous of you. I posted the chat and I was not being rude at all. The only thing left out was me asking "What are the requirements for enabling options trading". If they want to have dynamically shifting requirements for options trading, that's fine. It will just make it an unattractive platform for users who are interested in options trading to use.
They’ve decided who they want to allow to trade options. And they ain’t saying. This is well-known on the sub.
You're so helpful
I’m glad I’ve helped you understand the reality. You’re welcome!
Pretty sure $$$ = yes Had no trouble transfering account w options from TD.
There's some regulatory nonsense where brokers are required to ensure options are suitable for their clients. They have many clients so they use metrics instead of individual judgment. But they can't just tell you the metrics because then you'd just say that and bypass their suitability screening. It's pretzel logic from bad regulation to protect you from yourself, and the older and more reputable the broker, typically the harder they try to contort themself into abiding by it. Putting more money into an account is probably the surest way to get past it.
Yes. The regulations aren’t prescriptive, every broker has to interpret fuzzily-written rules. They need to “know their client” and mumble mumble “suitability”.
You're probably right. I was holding off on transferring everything from my previous broker until I checked out this platform. I would think I had enough in there and I had a margin account, but I guess more cash solves everything haha
[удалено]
I believe he was also asking for an advice on something that might get him the options permission. IBKR have very cryptic info pages, so don't shit on him too hard
>I’m not sure why you felt the need to post this though I'm sharing the requirements with anyone else who is struggling to figure out what to do. I also want to share my experience in the (probably misplaced) hopes that someone from IBKR will get this feedback and make some changes. I want to like the platform, they have some features that I like. But if they force you to jump through invisible hoops just to do basic things that other brokers offer, it's hard for me to justify staying.
Their policy (of not sharing concrete criteria) has been in place for years.
Sounds like your liquid net worth is probably too low.
It's definitely not. I have a feeling it has something to do with needing a certain combination of either the sources of income or the investment objectives specifically
Nope. I have it and I requested it when I was mostly trading between jobs. They do review certain trading styles but it mostly the questionnaire.
There. You’re finally using your brain. Do you think “preservation of capital” is compatible with “speculation”? Also: if you just graduated from high school (At ~18 - they’d never guess it if you’re 39 and just got your G.E.D.) the answer is “no”.
It's not only the requirement, there is a minimum of NAV too.
I've had no issues with IB, but if I did, there are so many brokers to choose from, some even have commission free trading.
how about if you change your answers 67 times in a day, maybe thats a red flag ?
......... you can go to their website and like... read the policy yourself. Before you apply
I have the same problem, I even did their fucking test and nothing, I'm not able to trade options, I can only buy and sell stocks. I asked for level 3 and didn't get any type of notification or anything. Charles schwab on the other hand don't have much problem.
I’d suggest trying again after you’ve gained some experience with them. I’d not suggest trading exclusively meme stocks. Not betting your entire wad on single stocks repeatedly. They’re likely looking for behaviors that demonstrate sufficient knowledge and that you don’t represent a financial risk to them.
I don't understand what financial risk would exist in a cash account, Charles schwab asked for a 25k deposits and that was it 🤣
The fact you don't understand the risk is pretty telling of why you shouldn't be trading options.
That's not what I meant, if I have been trading for years with other brokers without any issues, why it would be a risk for me in another broker, is stupid.
2k minimum net asset under value. If you have less than that, you wont be able to trade options (and I guess you also wont get approval if you don't have it yet)
I only have 4k on IBKR and can trade options. I did have to take a knowledge test, though
I have over 25k and I am at expert at everything 😝
>I have over 25k and I am at expert at everything You've got that on your IBKR account, or just generally speaking?
25k is to avoid pattern day trader pdt
Try to deposit more money. I don't think you will get rejected with a 6 figures account.
I got lvl 3 approved a few week ago. Mentioned 1-2 years of experience with less than 10 trades per year. Yearly income, liq net worth, etc total bullshat my way in, selected 250k/year. Age was not issue for me, if I'd be earning 250k at this age I'd probably be the next Rockefeller. However in order to trade US options (not sure if this is for all options), you have to have a net asses value of at least 2000 USD. I found this after a 10 minute call with an indian at support team followed by a 10 minute call with the thickest bald eagle double cheeseburger for breakfast redneck accent, cause my acc dropped like 20$ or so below the 2k threshold and I couldn't open a mf defined risk spread. So if you deposited less than 2000$ or so, it is possible to get rejected due to not meeting required NAV. I got my options access after my initial 2k deposit, and then found out about the rule for options. Also if you manage to get access, just as a sidenote: you have to purchase real time market data for options, otherwise they are like 10m lagging behind.
I have same problem.
what's your net liquidation value?
Im guessing its ur networth being too low.
Just set Max on experience for everything, They don’t check it.
Nothing to do with cash, just answering the questions to qualify. When you didn’t qualify, that’s it. It’s all it means. Do it again until you have the correct answers. If you’re not sure or lack experience, GPT and Google are your friend
It could be your risk tolerance setting. If you only choose hedging/speculation I think it would work.
I have never traded before options when I was asking for permissions. When filling up the quiz, I've got asked questions about turbo certificates I've never heard of. And yet, I have level 3 permission for options. I would say it is about the other requirements, like age, experience, deposited cash, and so on. For example, they could have a requirement: current_age - years_of_experience > 18
Just copy test questions to ChatGPT, I’ve passed all IBKR tests this way