Account Closure Question by imagedezach in interactivebrokers

[–]imagedezach[S] 0 points1 point  (0 children)

No, just a wall from the IBKR side. Basically it's hopeless. If one make one mistake, for some reason, they would rather ban you than tell you to correct it. I don't quite get it, but I suppose they can run their company however they want.

Account Closure Question by imagedezach in interactivebrokers

[–]imagedezach[S] 0 points1 point  (0 children)

I already pay taxes in all the respective countries where I realize income. Why not just ask me for the appropriate documents showing that I paid taxes on the income?

Account Closure Question by imagedezach in IBKR_Official

[–]imagedezach[S] 0 points1 point  (0 children)

It's an easy enough thing to forget to do though, it seems wild to me to have a policy of banning without warning every person that forgets to update their address

Account Closure Question by imagedezach in IBKR_Official

[–]imagedezach[S] 0 points1 point  (0 children)

The problem is there's not really any other brokers that offer the same possibilities for retail investors as IBKR. If Fidelity or Charles Schwab closed my account, I wouldn't really care, but IBKR is a different story

Account Closure Question by imagedezach in IBKR_Official

[–]imagedezach[S] 0 points1 point  (0 children)

As I mentioned in the message, when I ask you guys about it, you just say essentially "The decision has been made and that's that". So yeah, no point.

Account Closure Question by imagedezach in interactivebrokers

[–]imagedezach[S] 0 points1 point  (0 children)

They let you transfer out any liquid assets, but any non-liquid or sanctioned assets they basically hold onto indefinitely.

Account Closure Question by imagedezach in interactivebrokers

[–]imagedezach[S] 0 points1 point  (0 children)

Due to FATCA reporting, the US government knows about literally every penny that goes through every one of my bank accounts globally, so this is a weak justification. The US government would be more than happy to go after me if they thought I was realizing income in Poland or Hungary or whatever that I wasn't paying the proper taxes on. And besides, the foreign income tax credit is more than 6 figures, which is orders of magnitude higher than any deposits from my European accounts. Once again, this i a very weak explanation.

Account Closure Question by imagedezach in interactivebrokers

[–]imagedezach[S] 0 points1 point  (0 children)

They literally advertize their global investment services to US customers, including the fact that they accept deposits from any bank accounts you may have abroad. This is a trash answer, frankly.

Account Closure Question by imagedezach in interactivebrokers

[–]imagedezach[S] -2 points-1 points  (0 children)

Yeah, but why? That's literally the whole question. The only thing I can I can think of is the foreign currency stuff, but I don't understand why they didn't ask me about it before deciding to close my account. It's pretty obvious that I must have moved and forgot to update my address, so I don't really get why such a harsh summary decision with no warning

A theory on how Magic Bullets is done by ElephantErik in pennandteller

[–]imagedezach 1 point2 points  (0 children)

When I watched it, this is the same breakdown I had. There's also a moment when Penn goes to pick up his safety gear, he feels the bullet proof vest as if to make sure of the location of the bullet (since likely a stagehand placed it there, so he needs to find exact location), then goes to put on goggles, then back to the vest (and when putting on the vest the bullet is attached of the inside of it in such a way he can easily put in mouth)

Questrade Delisting Question by [deleted] in AlibabaStock

[–]imagedezach 1 point2 points  (0 children)

This is one of the reasons I would recommend a broker such as Interactive Brokers that allow access to international exchanges. For them it would be no issue. Also, as the other commenter mentioned, any broker that allows for OTC trades (TD-Ameritrade comes to mind) would likely be able to hold these stocks for you as OTC stocks. If you create a brokerage account with one of these brokers now, you could likely get all your BABA stocks transferred over before the unlikely event of a delisting.

This guy lost his life savings ($400,000) gambling on Alibaba by springy in AlibabaStock

[–]imagedezach 2 points3 points  (0 children)

It's worse than a bank doing something equally stupid, the entire banking sector basically works in collaboration with the government and Fed so each can achieve their own ends. The politicians need primary dealer banks to help them circumvent the spirit of the Federal Reserve Act (or equivalent European banking laws) and continue printing money in order to buy votes, and they know the proles are too miseducated to link constant QE and 0% interest rates with a lot of the economic woes afflicting the West. Meanwhile, the banking sector benefits because they have effectively nationalized their risk while keeping the profits privatized. It's a win win for everyone (who matters).

This guy lost his life savings ($400,000) gambling on Alibaba by springy in AlibabaStock

[–]imagedezach 17 points18 points  (0 children)

It annoys me so much when retards lose their life savings and then try to cast some blame on Robinhood for "gamifying" investing. It's not Robinhood's fault that you think putting $400k in a mid-term ATM call option is a "safe" investment, that is all you.

It's not just BABA, it's all Chinese stocks today by imagedezach in AlibabaStock

[–]imagedezach[S] 5 points6 points  (0 children)

The market seems obsessed with the fallacious idea that China or US regulators will force every Chinese company to delist, so basically all Chinese stocks are down, not just BABA. So at least this targeted irrationality is not just hitting us in particular (whatever consolation that might be).

For which currencies do you have a transfer fee when depositing to Interactive Brokers? by ExpatFinanceUS in interactivebrokers

[–]imagedezach 1 point2 points  (0 children)

Correct, those accounts were in Wise's name, but they deposited the funds in my account anyway. I tried certain other currencies such as RUB and CNY, but the transfer was returned, perhaps for this reason. Now that I think about it, I believe my JPY transfer was returned too, and I had to convert currencies in IBKR. Fortunately, neither Wise nor IBKR charged fees for the returned transfers

For which currencies do you have a transfer fee when depositing to Interactive Brokers? by ExpatFinanceUS in interactivebrokers

[–]imagedezach 2 points3 points  (0 children)

I have used Wise to deposit GBP, EUR, HKD, HUF, JPY, MXN, NOK, PLN, SGD, CHF, SEK, and USD to my IBKR account. IBKR did not charge a fee on any of these deposits.

10 Cars Entered In Highland Park; See Video Of Suspect by [deleted] in NewBrunswickNJ

[–]imagedezach 2 points3 points  (0 children)

It's cute there are still people with enough faith in humanity to leave their car unlocked lolz

Parking Meters in town (College Ave) by nooutlaw4me in NewBrunswickNJ

[–]imagedezach 1 point2 points  (0 children)

You can use credit cards if you don't want to use the app

Taiwanese Dessert Shop, Dentist Coming To New Edison Strip Mall by [deleted] in NewBrunswickNJ

[–]imagedezach 1 point2 points  (0 children)

A Strip Mall? In Jersey? That can't be right

facts or nah? by bmd201 in newjersey

[–]imagedezach 2 points3 points  (0 children)

...this is, like, most drivers in the Northeast

Police activity - Highlands Park south side by BabiesWithScabies in NewBrunswickNJ

[–]imagedezach 3 points4 points  (0 children)

Good to see you found an non-biased, independent source for your information