How many of you have personal accounts at your bank? It's obviously allowed, but I've been told that the compliance people have a tendency to drag their feet when it comes to approving trades for the analysts in banking. I know they would not like us to day trade, but if you were trading options, time can often times be important. What have your experiences been?
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I don't trade options, so I'm a little less time-sensitive in that regard. However, in my experience, I've had trades approved in less than 10 minutes...or it's taken all day.
Problem is (and this subject has been discussed a few times on the forum), while a lot of people go into IB because they love investing, you simply don't have the time to do your homework on stock picks. And the homework you do do in the course of your work obviously puts you in a conflicted position.
So while I still own individual stocks that I've held for a few years, today my trades mainly consist of buying index funds and periodic rebalancing.
And with mutual funds, we (at my bank, at least) don't need approvals to buy or sell. With anything else it's a lot trickier.
i trade options plenty...most banks have a min holding period but that's about it. usually there will be a handful of approved brokers
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