Interactive Brokers Account Opening Tutorial: Step-by-Step IBKR Guide from Scratch

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This Interactive Brokers account opening tutorial is tailored for Chinese investors. By following this guide, the online application takes only 10 minutes. Before starting, please prepare the following materials to make the process smoother.

Account Opening Checklist

• ID card (or passport)
• Proof of address
• Mobile phone
• Email address

All materials are very easy to prepare, so you can start with confidence.

Key Points

• Prepare your ID card, proof of address, mobile phone, and email—these are the essential materials for opening an account.
• The account opening process mainly includes four steps: creating an account, filling in personal information, uploading documents, and waiting for review.
• Users in mainland China should choose the IBKR Pro account, as it provides better trading services.
• Signing the W-8BEN form helps non-US residents enjoy tax benefits.
• For the first deposit, you must use a bank account in your own name and include your IB account number and name in Pinyin in the remittance remarks.

Preparation Before Opening an Account

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Before formally starting the online application, thorough preparation can make things twice as effective with half the effort. This section will detail the documents you need and give you a clear understanding of the entire process.

Required Documents and Information

You need to prepare two core documents: proof of identity and proof of address. Ensure all documents are valid and that photos and text are clearly visible.

Special Tip for Mainland China Users If your current residential address exactly matches the address on your ID card, you can directly use your ID card as both identity and address proof, without needing additional address proof documents. In that case, you only need to upload both sides of your ID card.

To help you better understand acceptable document types, please refer to the table below:

If your ID card address does not match your current address, mainland China users can also use the following documents as proof of address:

• Household register (Hukou book)
• Mobile phone bill from the past 12 months
• Copy of bank passbook from the past 12 months

We strongly recommend using a computer for the account opening process, as the larger screen provides a smoother experience when filling in information and uploading files.

Overview of the Complete Account Opening Process

Understanding the full process helps you better plan your time. The entire online application is mainly divided into the following steps:

1. Create Account: Visit the official website, enter your email and username to create your login account.
2. Fill in Information: Sequentially enter personal details, contact information, tax information, financial status, and investment experience.
3. Upload Documents: Follow system prompts to upload your prepared identity and address proof documents.
4. Wait for Review: After submitting the application, Interactive Brokers will review your information.

Typically, account review takes 1-3 business days to complete. This entire Interactive Brokers account opening tutorial will revolve around these core steps, providing detailed illustrated guidance.

Interactive Brokers Account Opening Tutorial: Full Illustrated Explanation

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With preparations complete, you can now officially enter the online application phase. This chapter will guide you through the entire process from account creation to submission review with detailed illustrated steps. Please follow our instructions and complete each operation step by step.

Visit the Official Website and Create an Account

First, you need to visit Interactive Brokers’ official website to start the application.

• Official account application page link: https://ndcdyn.interactivebrokers.com/Universal/Application

You can open an account through a referral link, which gives you a chance to receive Interactive Brokers stock rewards. This is a nice account opening benefit.

Account Opening Reward Tip By opening through a referral link and completing a deposit, you have the opportunity to receive up to $1,000 in Interactive Brokers stock. The usual rule is that for every $100 deposited, you get $1 worth of stock. To qualify for the reward, your account assets need to maintain a certain level (e.g., $10,000) for one year. Note that this promotion has restrictions for residents of certain countries or regions.

After entering the page, you need to enter your email, set a username and password, and select your country of residence. Upon completing this step, your Interactive Brokers login account is successfully created.

Fill in Personal and Tax Information

After creating the account, the system will guide you to fill in a series of personal information. Ensure all information you enter exactly matches your ID documents to avoid issues during later review.

You need to provide the following basic information:

• Personal Information: Name, date of birth, citizenship.
• Contact Information: Residential address, mobile phone number.
• Identification: Select your ID document type (e.g., ID card or passport) and enter the document number.
• Tax Identification Number: For mainland China users, this is usually your ID card number.

Please fill in accurately—these details are necessary for account opening and tax compliance.

Declare Financial Status and Investment Experience

Next, you need to declare your financial situation and investment background. Interactive Brokers needs to understand your risk tolerance to provide appropriate product permissions.

This mainly includes the following aspects:

1. Assets and Income: You need to enter your annual income, net worth, and liquid net worth.
   • Net Worth: The total value of all your assets (including real estate, deposits, investments, etc.) minus all liabilities.
   • Liquid Net Worth: Assets that can be quickly converted to cash, such as cash, savings, and stocks, excluding slow-to-liquidate assets like real estate.

   Asset Requirement Tip During application, the system may prompt that your liquid net worth needs to reach at least $20,000. Please fill in according to your actual situation.

2. Investment Objectives: Select your investment purposes, such as “growth,” “speculation,” or “capital preservation.”
3. Investment Experience: You need to declare your trading experience in stocks, options, futures, etc., including years of trading, annual number of trades, and knowledge level. Be sure to fill in honestly, as this directly affects the product trading permissions you receive.

This Interactive Brokers account opening tutorial recommends honestly assessing your experience and not exaggerating to gain advanced permissions.

Select Account Type and Permissions

This is a very critical step in the account opening process, where you need to make several important choices.

1. Account Type: Cash Account vs. Margin Account

• Cash Account: You can only trade with funds you deposit; no leverage or short selling. Suitable for beginners and investors with lower risk preferences.
• Margin Account: You can borrow money from the broker for investing (i.e., use leverage) and short sell stocks. Suitable for experienced investors. For beginners, we recommend starting with a cash account.

2. Service Type: IBKR Pro vs. IBKR Lite

Selection Recommendation Since IBKR Lite is only available to US residents, the vast majority of mainland China and other region Chinese users should choose IBKR Pro. IBKR Pro offers better order execution, broader market access, and lower margin rates, making it the preferred choice for professional investors.

3. Trading Permissions

You need to select the financial products and markets you wish to trade. For example:

• Stocks: Select markets in countries you want to trade, such as US, Hong Kong China, Singapore, etc.
• Options/Futures: If you have relevant experience and want to trade derivatives, apply for permissions here. Options trading is usually divided into levels (Level 1-4), with higher levels allowing more complex strategies.

For initial account opening, we recommend selecting stocks permissions only. Other permissions can be applied for and added anytime after the account is activated.

Sign W-8BEN Form and Agreements

As a non-US resident investing in US stocks, you need to sign an important tax document—the W-8BEN form.

What is the W-8BEN Form? This form certifies to the US Internal Revenue Service (IRS) that you are a non-US tax resident. After signing, you can enjoy benefits from the US-China tax treaty, such as exemption from capital gains tax on US stocks and a reduced withholding tax rate on dividends from 30%.

In this step of the Interactive Brokers account opening tutorial, you do not need to manually download or fill out the form. The system will automatically generate the W-8BEN form based on your previously entered information. You only need to carefully verify the details are correct and then electronically sign at the bottom of the page. This greatly simplifies the process.

Upload Documents and Identity Verification

The final step is to upload your identity and address proof documents to complete identity verification.

1. Upload Documents: Follow system prompts to upload the documents you prepared earlier.
   • If your ID card address matches your current address, simply upload photos of both sides of your ID card.
   • If addresses differ, upload your ID card and separate address proof documents (e.g., utility bill or bank statement).
2. Online Verification: Some users may see an option to scan a QR code with their mobile phone for online identity verification (e.g., via Au10tix service). This method uses your phone camera to photograph your document and take a selfie, speeding up the review process.

After completing document upload and submitting the application, your task is done. Now just patiently wait for Interactive Brokers’ review. Review results are usually notified by email within 1-3 business days.

First Deposit Operation Guide

After your account review is approved, the next step is to fund your investment account. The first deposit operation is very simple—just follow the steps below.

Core Principle: Same-Name Account Deposit You must use a bank account in your own name for deposits. This complies with anti-money laundering regulations. Do not use someone else’s bank account, or the remittance will be returned.

Create a Deposit Notification

Before remitting from your bank, you need to log into the Interactive Brokers web portal and create a “deposit notification.” This step informs Interactive Brokers that funds are incoming so they can prepare to receive them.

1. Log into your account, go to the “Transfer & Pay” menu, and select “Deposit.”
2. Select the currency you plan to deposit. Interactive Brokers supports multiple currencies, such as:
   • USD
   • HKD
   • Offshore RMB (CNH)
   • SGD
   • EUR
3. Select “Bank Wire Transfer” as the deposit method and enter the amount you plan to deposit.

Obtain Bank Remittance Instructions

After completing the deposit notification, the system will automatically generate detailed bank remittance instructions. These instructions contain all key information about the receiving bank. You need to accurately record this information for subsequent online banking operations.

Here is an example of instructions for remitting USD to an Interactive Brokers US account:

If you choose to deposit HKD, the recipient will be Interactive Brokers’ Hong Kong entity.

Execute Cross-Border Bank Transfer via Online Banking

After obtaining the instructions, log into your online banking and initiate a cross-border wire transfer. Using a Hong Kong bank online interface as an example, you need to accurately fill in the following:

• Beneficiary Name: Enter the bank name provided by IB, such as Interactive Brokers.
• Beneficiary Address: Enter the bank address provided by IB.
• SWIFT Code: Accurately enter the SWIFT code provided by IB—this is the unique bank identifier.
• Message/Remarks: This is the most critical step, directly affecting whether your funds can be correctly identified.

Important Tip You must strictly follow the format your Interactive Brokers account number / your name in Pinyin in the remittance message or remarks field (usually “Payment Details" or "Comments for Recipient” in English interfaces). For example: U1234567 / ZHANG SAN.

Arrival Time and Common Issues

After completing the bank transfer, funds typically arrive in your Interactive Brokers account within 1-3 business days. If funds do not arrive after this time, you can contact them via the IB portal customer service system and provide a screenshot of your bank transfer receipt for inquiry.

Congratulations! You have now mastered the entire process of opening an IB account from scratch and making your first deposit. Interactive Brokers, as a top global broker, has earned high praise from numerous authoritative institutions.

Take action now—refer to this Interactive Brokers account opening tutorial, click the official link below, and take your first step into global investing!

Official IB Account Opening Link

FAQ

We have compiled some of the most common questions new users have during account opening. We hope these answers help clear your final doubts.

Does IB have a minimum deposit requirement?

The Interactive Brokers Pro account has no official minimum deposit requirement. You can deposit any amount based on your investment plan. However, an account with no assets may incur a small account maintenance fee.

What if my account opening application is rejected?

You will receive an email explaining the rejection reason. The most common reasons are unclear documents or incorrect information. Simply log back into your account, correct the information or re-upload documents as prompted.

Can I open an account using only my ID card without a passport?

Yes. For mainland China users, if your current address matches the ID card address, you can complete the account opening using only your ID card. The system will guide you to upload both sides of your ID card as dual proof of identity and address.