How to get Margin Account with IB

[Zappy Jones 0]

Hi just looking for some clarity on this. 

I just got set up to go live with DAS and IB. I noticed I can't short and looked on IB's policies. So do I really need $110,000 to be able to do short trades? 

[Matt Callaway 5]

I can short with less than $110,000. Where did you see this at?

[Zappy Jones 0]

1 hour ago, Matt Callaway said:

I can short with less than $110,000. Where did you see this at?

Hey Matt,

So I noticed I couldn't short any stocks and found out that I need to have a Margin account in order to do shorts. "Short sales are not allowed in cash-type accounts"

https://ibkr.info/node/232#:~:text=Short%20sales%20are%20not%20allowed%20in%20%22Cash%22%20type%20accounts.&text=The%20supply%20and%20demand%20of,clearinghouse%20on%20any%20given%20day.

 

I then went to see how to change my cash account to a margin account. That's where I saw the $110,000 requirement to change my account to a margin account.

https://ibkr.info/node/280

Though re-reading it sounds like there are 2 types of margin accounts and perhaps the regular margin does not require the $110,000. I am contacting IB.

 

Thanks for taking time to chat with me on this Matt!