FAQs

 

Next you will see a loading screen like this.

 

Loading Screen

After a while page entitled "Funding & Acknowlegements" will show up. It offers several options for how you would like to fund your account. This page is likely to be different depending on the country in which you reside. In the image shown below, the first five options (in the "Deposit Notification" section) are for when the transfer is initiated from your bank (i.e., you would let the broker know to expect these funds from your bank). The next section ("Inbound Transfer Requests") is for funding methods that are started on the broker's side (i.e., the broker would ask your bank for these funds).

You should initiate a transfer, as this moves your account forward in the account approval process. If you don't initiate a transfer, your account will remain marked as 'incomplete' until you do. When you initiate a transfer, your account becomes tagged as "pending approval", which means someone at IB will look at it shortly. If you know what funding method you're actually going to use, then set that up immediately. Even if you're not ready to transfer money in or you're not sure which method to use, at least setup a "dummy" wire transfer (you can always cancel it or let it expire after your account has been approved).

 

Funding Options

You will need to select the method that you want. If possible, Global AutoTrading recommends that you use "Automated Clearing House" from the "Inbound Transfer Requests" section, as shown in the image below. It involves a one-time setup where the broker will deposit and withdraw a small amount of money to/from your bank account (less than 1$ each). After this setup is done, then you can easily and quickly deposit and withdraw money from your brokerage account. Unlike wire transfers, it's free (well, your bank might charge something for *any* withdrawal, in which case the same charge would most likely apply - you should contact your bank to make sure). If you want to use this approach, choose "Create Instruction" from the dropdown list, and press the continue button at the bottom of the screen.

 

Choosing ACH

When you do so, the next screen will ask you for some information regarding your bank account. Don't forget to check the "ACH Debit & Credit" radio button, and press the continue button. You will then need to wait a few days (typically 2-3 days) for two transactions from the broker to show up in your bank account. When they do, log back in to the account management screen and enter the amounts of the transactions. Then you should be all set to actually transfer at least $5000 from you bank account to your brokerage account, and to let Global AutoTrading start trading for you! Note that that $5000 is your money and you can withdraw it (and close the account) at any time.

 

ACH Instructions

 

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