Overview
You may need to open a new IBKR account depending on which IBKR entity carries your existing account and what type of products you intend to trade.
If Your Existing Account is Carried by IB IN
If your existing account is carried by IB IN and:
- You wish to trade Indian products:
- If there is no change in your residential status, then you can continue using the existing IB IN account.
- If your residential status changes from NRI (Non-Resident Indian) to Resident Indian, you are required to close your existing IB IN account and open a new Resident IB IN account. You can deposit or withdraw funds only using a resident Savings bank account.
- You wish to trade on International Markets:
- You are required to apply for a new IBKR account. During the application you can select the markets you wish to trade as “International Markets”. There would be no change in the operations of your IB IN account.
If your existing account is carried by IB LLC and:
- You wish to trade Indian products:
- You are required to apply for new IB IN account. During the application you can select the markets you wish to trade as “India”. There would be no change in the operations of your existing account.
- You wish to trade on International Markets:
- You are required to change your country of residence from current country to “India” in Client Portal.
If Your Account is Carried by Another Entity
If your account is carried by an entity other than IB LLC, you may be required to initiate a new application and request a "full account manual transfer" of eligible assets once your new application has been approved. Whether this step will be required depends upon the country you were residing in as IBKR maintains multiple entities, each of which has been formed to carry client accounts based upon local regulatory requirements and IBKR policies.
Account Approval
All new account approvals will be subject to review of respective entity regulations.