Interactive Broker Opening: Account Minimum?

[hoihoi]

Hi guys,

I've been learning about the importance of investing for the past few months and I really want to start my journey this year.
I'm thinking of opening an account with Interactive Broker as I read they recently got rid of their 10,000 USD minimum last July.

However, when looking around their website, it seems like this restriction is still in place...
https://www.interactivebrokers.co.jp/en ... count-info

"Initial Deposit of Funds and Shares
Minimum of 1 million JPY is required to open IBSJ accounts. Minimum of 10,000USD is required to open IBLLC accounts. You would need to do an international wire transfer for funding IBLLC accounts, but JPY can be accepted. Please note you will not be able to do an international wire transfer from Mizuho accounts. You may deposit shares instead of funds of the same amount. However, if there are no transactions after 3 months, you will be charged inactivity fee of 10USD."

It seems like I can chat with them if I start the application process, but I don't want to start the process, mess up and sign up for something when I may not be able to comfortably deposit 10,000 USD upfront. Again, I know asking IB would be best, but I read somewhere on this forum how someone started their IB opening process recently.

Could anyone fill me in whether this restriction is still in place for residents of Japan? I am US citizen and I have no plans of returning to the States (been living here for seven, eight years now).

Thank you in advance

[Viralriver]

I've had an account since last year with 0 JPY. I also confirmed with them via email that there is no minimum, and no charges for keeping the account in its current state.

[jpjawa]

This is a bit of a necro-post, but man, trying to open an IB account is quite the hassle. Even if the supposed account minimum is $10,000, they won't even let you set up an account with anything less than $20,000 in liquid assets. Apparently some people lie on that question, which really doesn't seem like a good way to try to keep your investing above board. I've been doing a ton of reading and would love to start investing for the future, but having pretty much the only brokerage willing to touch US expats throw up such high barriers to entry is pretty depressing.

[hoihoi]

Thank you guys for the response! It seems like there are other issues with IBKR now, but there is no minimum

[TokyoBoglehead]

Thank you guys for the response! It seems like there are other issues with IBKR now, but there is no minimum

Have you followed the updates? Japanese residents are all being migrated to IBSJ.

https://www.interactivebrokers.co.jp/en ... hp?f=50716

Initial Required Minimum for IB-JP account
JPY 1,000,000

https://www.interactivebrokers.co.jp/en ... hp?f=50721

This is all still influx though. This fee could disappear now as it states IBJP not IBSJ.....

[hoihoi]

Good point about the fees. I will call and check about the fee requirements for IBSJ...