Is there an annual income requirement to open an IB account?

[Mark_888 1]

I'm currently with CMEG, and I understand I would need to maintain $25,000 in an account with IB to avoid the PDT rule.  But are there any annual income requirements to open an account with IB to trade on margin as a day trader?

I'm asking because on this page it says a Reg T Margin Account has an income minimum of >40,000:  https://investors.interactivebrokers.com/en/index.php?f=4945&p=tradingrequirements

So does this mean to open a margin day trading account with IB I have to have an annual income of $40,000 or more just to open the account?

Edited January 9, 2021 by Mark_888

[Bryan 7]

You did research! If you're under 41 years old, that's what it looks like... Getting a margin account is literally opening a line of credit, so they do a credit check and all of that stuff. Might not get approved if you don't meet that requirement. I haven't been asked what my income is SINCE I've opened my account, but I think I was on the application. I've never seen that page that you posted before.

Bryan W

[Mark_888 1]

I was certainly hoping I was wrong about that requirement.

[Bryan W 50]

On 1/8/2021 at 8:07 PM, Mark_888 said:

I was certainly hoping I was wrong about that requirement.

There are other options that link to DAS... As a BBT member you would have access to special comms with CMEG, if you can only afford a smaller account for now. They also have their own version of DAS with a little lower monthly fee. https://bearbulltraders.com/brokers#CMEG

 

[Mark_888 1]

Thanks, I'm already with CMEG