If you’ve been eyeing Interactive Brokers (IBKR) as your go-to platform for trading US and Hong Kong stocks, you’ve probably heard the buzz: account opening just got harder.
For years, IBKR was almost zero-threshold—all you needed was a Chinese ID card, passport, and local phone number. That’s it. Now? Not so simple. Starting August 2025, the rules have changed, and without proof of overseas employment or residence, many investors are hitting a wall.
But don’t panic. In this guide, I’ll walk you through:
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Why IBKR is still worth the hassle.
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The updated account opening process (and where people get stuck).
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The lossless deposit/withdrawal method most investors overlook.
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A few small hacks that could save you headaches later.
Bookmark this one—you’ll thank me when you’re wiring money in or out.
Why IBKR Is Still the Big Dog 🐂
Founded in 1977, listed on Nasdaq in 2007, IBKR isn’t just another shiny app. It’s the clearing house behind many brokerages—yes, even Tiger and Futu run on IBKR licenses when you trade US stocks.
Why people still choose IBKR:
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Ultra-low commissions (tiered or fixed pricing to suit your style).
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Access to 160+ markets and 23 currencies.
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Professional tools for serious traders (though the UI is… let’s say, “engineer chic”).
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Global reputation: trusted in 200+ countries.
Downside? The interface feels like it was built in the ’90s, and for beginners, Tiger or Futu feels much friendlier. But if you want the lowest cost and maximum flexibility, IBKR is still king.
New Account Opening Rules (September 2025 Update)
Here’s the kicker:
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Since August 2025, provide proof of overseas employment or residence. No more “zero threshold.”
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Documents must be in English (or notarized translations).
What you need to prepare:
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App Download: iOS users need a US Apple ID; Android users need Google Play (VPN required).
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Documents: ID card or passport, proof of overseas address, and a phone number that can receive codes.
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Base Currency: Choose USD—it’s simpler for trading and withdrawals.
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Personal Info: Fill everything in English/Pinyin. Employment status and “source of funds” should be filled cautiously.
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Investment Profile: Declare assets of at least $50k if possible.
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Proof of Overseas Address: Now mandatory. (Yes, this is the new bottleneck.)
👉 Tip: If you’re stuck here, many investors are quietly looking for “workarounds.” (I won’t spell them out publicly, but you know where to ask.)
Fixed vs. Tiered Pricing: Which One’s for You?
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Retail (< $50k assets): Fixed pricing. Low-frequency = lower headache.
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Active traders / $100k+ accounts: Tiered pricing. More cost-effective.
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Quants / HFT: Tiered + liquidity rebates = serious cost savings.
Quick summary: Fixed is simpler, tiered is cheaper—but only if you’re trading big or often.
The Secret Sauce: How to Deposit and Withdraw Without Losing Money 💸
Most beginners burn money here. Here’s the lossless way (using HSBC HK as example):
Deposit (into IBKR):
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Generate your unique IBKR receiving account info (account number, SWIFT code, reference notes).
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Log into HSBC app → Add payee (country: HK, bank code: e.g. Citibank 006, account number: IBKR’s).
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Enter your name in Pinyin as the payee.
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Transfer the exact declared amount—don’t forget the IBKR postscript note.
Withdraw (back to HK bank):
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In IBKR, set up withdrawal → Wire transfer → Input your HK bank details (code, SWIFT, account number).
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Fees: First withdrawal monthly = free. After that = $10.
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Arrival: Usually 1–3 working days.
👉 Pro tip: Use HKD or CNH accounts to dodge extra FX conversion fees.
FAQ: Things People Always Ask
1. Can I change my pricing plan later?
Yes—switch anytime in Account Management.
2. Is withdrawing to a Hong Kong bank free?
HKD withdrawals = free. USD withdrawals = $10 after the first free one.
3. What currencies can I use?
22+ currencies including USD, HKD, CNH.
4. How to enable options trading?
Apply in “Trading Permissions,” pass a quick knowledge test, and you’re in.
Final Word
Yes, IBKR’s account opening just got trickier. But once you’re in, you’re trading on the same rails as the pros—with lower fees and broader access than most flashy retail brokers can offer.
If you’re serious about long-term investing in US/HK markets, it’s worth the upfront hassle. Just don’t skip the deposit/withdrawal setup—that’s where most people lose money without realizing it.
Stay disciplined, trade smart, and welcome to the IBKR club.
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