Interactive Brokers $IBKR is sending out emails to clients informing them that effective immediately, their crypto positions will be capped to the lesser of 30% of their total account equity or $3M across brokerage and crypto accounts.
It is a terrible time to be an over-levered crypto degen.
Interesting - why any limit?
I had a bad experience with #IBKR. I have a small account with them, (hack off account), and purchased $200 of crypto. They sent me a nastigram and warned me that crypto was "for conenience of customers only", and to cease buying crypto. There was no vioation of the limit. The only thing I may have done was ask on a forum why I could not transfer the balance to a cold wallet.
I responded to them that they advertise all about their website 24/7 easy crypto trading, and I was going to look into reporting to the SEC for false advertising. They deleted my response and sent me back an email encouraging a referral of their platform. What a crass bunch of shysters.
Omg! Great thing you puled the false advertising!
