How to open a business account with Interactive Brokers in Hong Kong?

Settling your own business in Hong Kong? With its vibrant port city and strong international connectivity, Hong Kong offers great opportunities for businesses to thrive. Entrepreneurs looking to maximize their profits need to ensure their funds are working hard through smart investments and efficient currency management.

Interactive Brokers (IB) provides a platform for businesses to invest in global markets, including stocks, options, futures, currencies, bonds, and funds. Some also use IB for foreign currency exchange or as an offshore account. This article will guide you through opening a business account with IB, covering features, fees, and requirements, and also introduce Wise, a non-bank alternative for managing international finances with zero monthly fees.

Table of contents

Features of an Interactive Brokers business account Fees Who can open an Interactive Brokers business account? What documents do I need to open an Interactive Brokers business account? How to open an Interactive Brokers business account? Step 1: Create a new account Step 2: Fill information about your organization Step 3: Submit your application and upload all the documents Final Step: Fund Your Account How long does it take to open an Interactive Brokers business account? What is the Customer service phone number of Interactive Brokers in Hong Kong?

Features of an Interactive Brokers business account

Let’s break down the basics first, so what is Interactive Brokers (IB) anyway?

Interactive Brokers is a leading global electronic securities trading firm based in the United States. Founded in 1978, the company went public in 2007 under the stock ticker IBKR. The platform provides access to over 150 markets serving clients from over 200 countries and territories, making it a popular choice for both personal and business traders worldwide. You can apply for different account options to suit various types of businesses, including small businesses. Many people also use this platform to do research and learn how to trade, while some businesses use IB to exchange foreign currencies or as an offshore account.

Now, let’s take a look at what kind of features you can expect when you open a business account with IB HK:¹

• Low Cost: IB is among the lowest-cost brokers in the market
• Comprehensive Market Access: You can access the global market from a single unified platform to more than 150 markets in 36 different countries. This includes US stocks and ETFs.
• Innovative Technology: Powerful trading platforms and tools for managing client assets access through desktop, mobile, web and API.
• Highly Secured: IB HK is regulated by the Hong Kong Securities and Futures Commission, and also is a member of the SEHK and the HKFE.
• Access to Foreign currencies: You can either invest in either “Spot Currencies” or just simply use the "Convert Currency" function to exchange between currencies.

As a global stock trading platform, IB lets you to trade in 26 currencies² in the list below:

Currency Code	Currency Name	Currency Code	Currency Name
USD	United States Dollar	MXN	Mexican Peso
AED	United Arab Emirates Dirham	MYR	Malaysian Ringgit
AUD	Australian Dollar	NOK	Norwegian Krone
CAD	Canadian Dollar	NZD	New Zealand Dollar
CHF	Swiss Franc	PLN	Polish Zloty
CNH	Chinese Yuan	SAR	Saudi Riyal
CZK	Czech Koruna	SEK	Swedish Krona
DKK	Danish Krone	SGD	Singapore Dollar
EUR	Euro	TRY	Turkish Lira
GBP	British Pound Sterling	TWD	New Taiwan Dollar
HKD	Hong Kong Dollar	ZAR	South African Rand
HUF	Hungarian Forint
ILS	Israeli New Shekel
JPY	Japanese Yen
KRW	South Korean Won

Fees³

IB HK doesn’t charge your business account any ticket charges, custodial fees, technology, software, platform or reporting fees. There aren’t any minimum commission for account maintenance fee or inactivity fee either. But you do still have to pay for some other fees like:

Commission fees

The most common fees might be the commissions on your investment. The commission fees are calculated based on two charging methods: fixed or tired. Commissions below are for U.S. markets:

Type of investment	Commission fees
Stocks/ETFs	Fixed or Tiered Pricing Tiered 0.0005 to 0.0035 USD per share 0 USD on No Transaction Fee ETFs Fixed 0.005 USD per share 0 USD on No Transaction Fee ETFs
Options	Fixed or Tiered Pricing Tiered: 0.15 USD to 0.65 USD per contract Fixed: 0.65 USD per contract
Futures	Fixed or Tiered Pricing Tiered: 0.25 USD to 0.85 USD per contract. Fixed: 0.85 USD per contract
Spot Currencies	Tiered Pricing only 0.08 to 0.20 basis points * Trade value per order
Bonds	Tiered Pricing only 10 basis points * Face value per order

Withdrawing money fees

When withdrawing money, the fees will depend on the currency you choose and how you’d like to receive your funds. IBKR allows one free withdrawal request per calendar month. After the first withdrawal, IBKR will charge fees for any subsequent withdrawal. Here’s a quick breakdown of the fees if you want to receive through your bank wire/transfer:

Bank Wire/Transfer:

Currency Code	Amount	Currency Code	Amount
USD	10 USD	MXN	100 MXN
HKD	95 HKD	AED	18 AED
CAD	12 CAD	CHF	11 CHF
CZK	300 CZK	DKK	30 DKK
EUR	8 EUR	GBP	7 GBP
HUF	6,000 HUF	ILS	30 ILS
NOK	50 NOK	PLN	40 PLN
RUB	330 RUB	SEK	50 SEK
TRY	120 TRY	ZAR	200 ZAR
AUD	15 AUD	CNH	60 CNH
SGD	15 SGD	NZD	15 NZD
JPY	1,600 JPY (for IB-JP customers: 1,760 JPY incl. tax)

While these are the fees charged by IB, the platform does not display any third-party fees. Additionally, your bank may apply its own processing fees, so the final amount you receive could be slightly different.

Who can open an Interactive Brokers business account?²

You must meet these requirements to open an IB business account:

Age Requirements:

• Be 21 years or older to open a margin account.
• Be 18 years or older to open a cash account.

Organisational Requirement:

• The account must be registered under an organization such as a business, corporation, partnership, limited liability company (LLC), or unincorporated legal structure.
• The organisation must trade its own capital (proprietary trading).

What documents do I need to open an Interactive Brokers business account?

In order to open an IB business account, you will need the following information to complete the application:

• Tax and contact information of the organization.
• Personal and contact information of the Authorized Person on this account.
• Documents proving the existence of your organization.
• Bank account information.

If the entity is NOT a U.S. publicly-traded company or registered with a U.S. financial regulatory agency, you will need the following for each 10% or greater shareholder:⁴

• Name;
• Date of birth;
• Address;
• Phone;
• Country of citizenship or formation of entity;
• US Social Security Number or ID number if not a US citizen (Driver's License, Alien Identification Card, Passport or National Identity Card).
• Estimated Net Worth (excluding value of residence);
• Estimated Liquid Net Worth (excluding value of residence).
• Annual Net Income;
• Total Assets;
• Bank or third-party broker account numbers for funding purposes, plus routing number for check deposits.

These documents are the standard requirement. Depending on each case, IB might need you to submit extra paperwork.

How to open an Interactive Brokers business account?

Here are some general steps you can follow to open a business account with IB for free:

Step 1: Create a new account

Access to the IB’s free account website to create your account. You will need to provide your email address, a username, and create a password for the account. A verification email will be sent to your inbox immediately after this.

Step 2: Fill information about your organization

You will be taken to the next page where you can select an account type

You can choose your account type as “Business/Organization” under “Institutional Accounts tab.” Answer two questions about the owner of your business. Choose your region and select “Start Application.”

You’ll be asked to enter details about your organization, including the name, description, business purpose, tax information, source of wealth, and other relevant information.

In many cases, if your descriptions about this business are too vague, IB representatives might need to reach you to ask for more details. That’s why: Be as detailed as possible in your business description to avoid any delays in processing.

After filling in the details, you'll encounter a few yes/no regulatory questions based on your business information. Answer these as applicable.

It may take some time to complete the form, but don’t worry—your progress will be saved automatically, so you can return and finish it later.

Step 3: Submit your application and upload all the documents

Once you've filled out all the information, carefully review your application and read through the “Terms and Conditions” on the final page. After reviewing, click “Submit” to proceed.

On the last page, you’ll see a list of the documents required to complete the account opening process. Upload all necessary files to finalise your account.

Final Step: Fund Your Account

Once your application is approved, you can fund your account and start trading!

How long does it take to open an Interactive Brokers business account?

After you complete your application, IB will review your eligibility. It might take a few days to fully use your accounts.

It is worth noting though, the actual processing time may vary if special circumstances arise. If you're the main contact person, be sure to monitor the status of your application.

What is the Customer service phone number of Interactive Brokers in Hong Kong?

If you need assistance, you can contact Interactive Brokers' customer service in Hong Kong at +852 3107 8868.

Now you have everything you need to set up a business account with Interactive Brokers (IB). IB is a strong choice for businesses looking to generate profits from their funds. The account creation process is entirely online, but please note that it may take some time for IB to process your request.

So while you can use IB to deposit and exchange foreign currencies and then withdraw funds to other offshore accounts. It may not be the most efficient way due to its long and complicated opening procedures. Plus, only specific users are allowed to initiate third-party withdrawal requests,meaning it’s not that straightforward to transfer money to pay overseas suppliers or employees.

To save your time and money, you can conveniently open your Wise Business account online and manage your money using the Wise app or any web browser. Wise lets you send money at real-time mid-market exchange rates in 40+ currencies to more than 70 countries. Many payments made with Wise are instant or arrive in an hour and you can pay up to 1,000 people in one click, so it is also rather efficient - you can always run your business around the clock! Wise is also supervised by different financial institutions around the world, so your business money is safe.

Here are the great features that come with a Wise Business account:

• Free self-service account setup: Open your account online in minutes with no monthly fees and start enjoying hassle-free payment services right away.
• Manage global funds with ease: Get paid in 23+ currencies in one account, including local account numbers for 8+ major currencies, so you can receive local transfers for free.
• No hidden exchange rate markups: All fees are transparent, with real-time market exchange rates, and fees as low as 0.26%. Save more on every transaction.
• Instant cross-border payments: Send moeny to 140+ counrties. Quick processing — over 60% of remittances arrive within 20 seconds. Track your payments in real-time.
• Easily handle bulk payments: Upload a CSV file and the system will process up to 1,000 payments at once. You can also integrate Wise’s API for fully automated payment workflows.
• Professional invoicing tool: Create and send invoices, add your account details or payment links, making payments simpler and quicker.
• Boost team collaboration: Add team members to your account, work together on payments, download statements, and track transactions more efficiently.

It’s quick and easy to open a Wise Business account, with a fully digital application, verification and on-boarding process. Sign up today to experience an efficient cross-border payment platform that helps streamline your business operations and improve your company’s competitiveness.

Get started with Wise Business

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Sources used for this article:

1. Interactive Brokers - Small Businesses
2. Interactive Brokers - Trade Global Currencies with Direct Access to Interbank Quotes
3. Interactive Brokers - Other fees
4. Interactive Brokers - What You Need for the Application

Sources last checked on 11-Feb-2025.

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Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.