Hey guys, just got my BB IB offer and one of the conditions in the letter is that I close all my trading / securities accounts which I think is fair / standard. I was just wondering how those in IB then invest? Assuming without a trading account you can't even buy SPY. Do you invest in non-equity securities like bonds?
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Just dump it into your tax efficient pension , easiest and best way
I'd be pretty shocked if you were not allowed to have ANY kind of discretionary trading account. I think you just have to move to an approved platform and they will monitor your trades. You need pre-authorization to make any trades and sometimes there's a minimal hold period (a month in my case). But first of all invest in your 401k. I would just chuck it mostly in an index fund; you're young so can be close to 100% equities.
makes sense yeah def will review my contract thanks for the insight
During my banking days (BB tech coverage) I could not trade anything. I believe the official policy was nothing in tech sector and needed approval on anything else with a 30 day holding period. MD didn’t want to deal with the hassle tho and we couldn’t trade anything. 🤷♂️
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