Edit: This post has been updated for accuracy and comprehensiveness.
Interactive Brokers has a Trader Referral Program where anyone* is able to refer customers to Interactive Brokers (referral link). In this article, I am going to show you how to apply for their Referral Program.
Disclosure: Some of the links below are affiliate links, meaning, at no additional cost to you, I will earn a commission if you click through to make a purchase.
Who is Eligible for the Refer a Friend Program
Any active Interactive Brokers client whose account have a net liquidation value of at least $2,000 and have placed at least one securities trade.
However, the residents of Japan, Spain and Israel are not eligible to participate in the program. Residents of Canada are eligible to participate as referrers and receive the $200 referral bonus, but are ineligible to earn welcome shares IBKR.
What the Referrer will Receive
For every successful client that you refer, you will receive $200 when the referred client opens an individual, joint, trust or retirement account, funds and maintains a balance of at least USD 10,000 for one year.
Referrers are limited to 15 referrals per year and 30 referrals total.
What the Referred (i.e new client) will Receive
The referred client can earn up to $1000 of IBKR stock. Referred accounts will receive $1 in IBKR shares for every $100 of value (cash or other assets) added to their account for up to $1000 worth of IBKR shares. The average balance must be maintained for at least 1 year for the shares to vest and be accessible.
How to Sign up for the Referral Program
Option 1: Sign up via this referral link
Clicking on the sign up link above will lead to the page as shown where you can enter your personal details to open an Interactive Brokers account.
Option 2: For those who are Interactive Brokers clients
Go to Account Management → Account Settings → Refer a Friend to share the link with your friends.
Bonus to those in Singapore who wants to trade Singapore Equities Markets
On 08 July 2020, Interactive Brokers announced that it has launch a Singapore entity, Interactive Brokers Singapore. That means it can now offer Singapore stocks to investors in Singapore.
It is good news to investors in Singapore wanting to gain access to the local markets because the fees are much lower than the incumbent brokerages. I hope that with the entrance of Interactive Brokers in the equities market (it is already active in the Singapore derivatives prior to this), it will compel the incumbents to lower their fees to increase competitiveness and hence open up the market to more participants.
Effective 1 July 2021, clients will no longer be charged USD 10 for not maintaining a minimum balance or transaction activity. Interactive Brokers’s decision to remove inactivity fees aligns them with industry standards and reflects their ongoing commitment to provide clients with low cost trading solutions.
Interested potential clients can sign up for Interactive Brokers via my referral link here.