Cash vs Margin account with Interactive brokers

S

SL100

Guest
Hi,

I noticed while applying for an Interactive Brokers account that if you chose chose a Cash account it seemed to restrict the countries you can trade in.

I contacted them and was told: "You will have to select Reg T margin to be able to trade in different countries".

In other words a margin account as opposed to a Cash account.

I would rather avoid margin accounts as they seem more complicated without any clear benefit for my relatively simple needs.

Does the response from IB above sound correct and am I wrong to be avoiding a margin account?

Cheers,

Mick
 
Unless you know exactly what you are letting yourself in for I'd recommend staying away from margin accounts. Don't have any experience with Interactive brokers, but find it strange that they only allow buying in foreign markets on margin.
I use Keytrade and am able to buy on numerous EU and North American markets
 
Just because you select a Reg T margin account doesn't mean you have to trade on margin - only use your own funds !
 
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