ChatSys: This chat is associated with ticket #875895. Please record this number for use in future inquiries. You are currently in room 'General Assistance'.
sik: Is it possible with a Margin account to operate exactly as with a Cash account?
Krishnavanshi G: Hello, this is 'Krishnavanshi G'. Please allow me a moment to read the question you submitted to iBot and I'll respond to you shortly.
Yes you are correct
sik: If I don't want to operate with margins, what should I do differently when making for instance a stock order?
Yesterday I was making some test with the paper account and got these https://i.imgur.com/5xjf4A8.png
Krishnavanshi G: Make sure you have entire cash balance for the stock order you are looking to trade
So it does not use your margin
sik: ok, in that way my account would behave exactly as a Cash one?
Krishnavanshi G: In that manner you can use your margin account as a cash account
sik: How dows SIPC protection differs between a Cash and Margin account?
Krishnavanshi G: No they are treated as same
sik: Is there any reference page you can point me to in this context?
Krishnavanshi G: One moment
sik: I can't load it, can you verify it works for you?
Krishnavanshi G: Yes sir
sik: I verified and also a friend can't load it. I googled part of the URL and find this https://ibkr.info/node/1968
is it the same?
Krishnavanshi G: No problem
Goto our Website http://www.interactivebrokers.com
and search for SIPC in the search tool bar
sik: OK thanks. In case I still want to switch back to a Cash you account you confirm the best option is to create a new account linked to my former margin one, and then delete the margin one?
Krishnavanshi G: Yes you are correct
sik: ok thanks a lot
have a nice day