robz83

@Exsertus Hey man, quick question im based in Sydney Australia and Interactive Brokers told me I cant short stocks because they don't accept Australia margin accounts. How did you get around this? (I see you from Melbourne)

Exsertus
Exsertus May 21, 11:07 AM

@robz83 Hi mate. The reason why IB won't offer margin is because they mucked up their lending licence with the ASIC back in 2010. Last I heard, they have re-lodged the application, so I hope it gets sorted soon. I have a corporate trust with an AFSL licence, so I'm exempt from the lending restrictions. Unless you wait it out, that would be the only option. My TD Ameritrade and Schwab accounts have margin access, so you might want to give one of those a go. IB definitely has the best borrows.

robz83
robz83 May 22, 10:28 PM

cool thanks, ill check it out although i think i tried TD and they said they dont accept Aussie clients. might have to check out etrade...thanks for your help

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