Euro Pacific Bank

Margin Change — New Calculation: Aug 05, 2021

Effective after the US market close on August 5, 2021, Interactive Brokers1 will begin phasing in a new margin requirement to identify the inherent risk of a portfolio concentrated in three or fewer equity positions.

New Methodology

  • Interactive Brokers will continue to calculate the potential loss for each stock (and its derivatives) by conducting the same stress tests currently in place.
  • The aggregate projected loss for the top three concentrated stocks (and their derivatives) from the above scenarios will be compared to what would otherwise be the aggregate portfolio margin requirement, and the greater of the two will be the margin requirement for the portfolio. This differs from the current approach, which considers the projected loss from two or fewer equity positions.

The increase will be implemented in a series of gradual steps over a 10-business day period, beginning after the US close on August 5, 2021, and concluding after the US close on August 19, 2021, with the increase to initial margins occurring first.

Recommended Actions

As the margin impact is portfolio-dependent, we recommend that you review the full impact to your account prior to, during and following full implementation.

To evaluate the full impact of this proposed change on your margin requirements, please see KB Article 2957: Risk Navigator: Alternative Margin Calculator and utilize the margin mode setting in Risk Navigator, select “Margin 20210820.”

Accounts that are unable to carry a position under this new margin requirement are subject to liquidations to bring the account into margin compliance. Therefore, please make necessary adjustments to your portfolio to comply with Interactive Brokers’ new policy.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

Margin Change — New Calculation: April 12, 2021

Effective April 12, 2021, Interactive Brokers1 will begin phasing in a new margin requirement intended to identify accounts holding a concentrated position in a stock that has has dropped precipitously from recent highs.

New Methodology

  • An alternative stress test will be run, subsequent to the margin calculation currently in place, with the greater of the two becoming the active requirement. Here, each stock and its derivatives will be subject to a stress test that simulates the effect of the underlying stock returning to its highest price level (as measured by its median price in any 5-day period) in the prior year.
  • The greatest loss for the stock and its derivatives, resulting from the above scenarios, will be compared to what would otherwise be the aggregate portfolio margin requirement, and the greater of the two will be the margin requirement for the portfolio.

In order to allow traders to adjust the portfolio and/or capital accordingly, the margin increase will be implemented in a series of gradual steps over a 5-day period, beginning after US close on Monday, April 12,2021, and concluding after the US close on Friday, April 16, 2021.

Recommended Actions

As the margin impact is portfolio-dependent, we recommend that you review the impact to the account prior to and throughout implementation and take the necessary steps to remain margin-compliant and avoid becoming subject to forced liquidations.

To evaluate the impact of this proposed change on your margin requirements, please see KB Article 2957: Risk Navigator: Alternative Margin Calculator and utilize the margin mode setting in Risk Navigator, select “Margin 20210419”.

Accounts that are unable to carry a position under this new margin requirement are subject to liquidations to bring the account into margin compliance.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

Trading Restrictions on Volatile Securities

Summary

We are seeing unprecedented volatility in GME, AMC, BB, EXPR, KOSS and a small number of other U.S. securities that has forced Interactive Brokers1 to reduce the leverage previously offered to these securities and, in certain instances, limit trading to risk-reducing transactions.

Trading Restrictions

January 29, 2021

On January 29, 2021, Interactive Brokers placed the following restrictions:

  • Reduction of the leverage previously offered to these securities and, in certain instances, limit trading to risk reducing transactions.
  • Placement of options on certain of these stocks in closing only, but not restrictions on trading shares in the mentioned companies.

February 1, 2021

On Monday, February 1, 2021, all trading restrictions were lifted on Options in AMC, BB, EXPR GME, KOSS and other options that experienced recent market volatility.

However, the options and their underlying stocks are subject to increased margin requirements2. These margin requirements change based on market conditions and can be viewed in your trading platform prior to submitting an order.

As always, accounts that are unable to meet the new margin requirements will be subject to automated liquidations3 in order to bring the account into margin compliance. Accounts subject to risk-based margin will have their scanning ranges increased in a similar manner.

Note:

  • Interactive Brokers has not restricted your ability to close existing positions in any of the U.S. securities subject to market volatility, and does not plan to do so.
  • The limits are applied to all customers and were not limited to “retail clients” or any other group.

1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

2 Information on Interactive Broker’s margin rules can be reviewed in this article. To monitor your Euro Pacific Trader available margin balance, please read this guide.

3 Interactive Brokers (IB) will liquidate your positions without prior notice until your account complies with margin requirements. IB automatic liquidation of under-margined accounts is designed to protect customers and to protect IB in times of market turmoil.

Margin Change – Risk Calculations: November 19, 2020

Last month, Interactive Brokers1 announced a change to the algorithm used to calculate a portfolio’s concentration risk. Shortly after the announcement, a decision was made to temporarily postpone the algorithm change.

On Friday, November 19, 2020, Interactive Brokers will begin phasing in a new methodology to calculate a portfolio’s concentration risk.

New Methodology

  1. Interactive Brokers will calculate the potential loss for each stock and its derivatives by subjecting them to a stress test which simulates, at a minimum, a price change in the underlying stock of +/- 30%.
  2. The requirement for the stock (and its derivatives) which projects the greatest loss in the above scenario will be compared to what would otherwise be the aggregate portfolio margin requirement, and the greater of the two will be the margin requirement for the portfolio.

How will the new change impact my portfolio?

To evaluate the full impact of this change on your portfolio so that your account may remain margin compliant, please see KB Article 2957: Risk Navigator: Alternative Margin Calculator and from the margin mode setting in Risk Navigator, select “Margin 20201119”.

Accounts that are unable to carry a position under this new margin requirement are subject to liquidations to bring the account into margin compliance.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

Margin Change – Risk Calculations: October 23, 2020

Interactive Brokers1 will begin phasing in a new methodology to calculate a portfolio’s concentration risk, effective Friday, October 23, 2020.

New Methodology

  1. The potential loss for each stock and its derivatives will be calculated by subjecting them to a stress test which simulates, at a minimum, a price change in the underlying stock of +/- 30%.
  2. The requirement for the stock (and its derivatives) which projects the greatest loss in the above scenario will be compared to what would otherwise be the aggregate portfolio margin requirement, and the greater of the two will be the margin requirement for the portfolio.

Timeline of Change

The increase will be phased in over a series of daily increments beginning after the New York close on October 23, 2020, and continuing through trade date October 30, 2020.

How will the new change impact my portfolio?

To evaluate the full impact of this new change on your portfolio and remain margin compliant, please see KB Article 2957: Risk Navigator: Alternative Margin Calculator, and from the margin mode setting in Risk Navigator, select “Margin 20201030.”

Accounts that are unable to carry a position under this new margin requirement are subject to liquidations to bring the account into margin compliance, so we suggest you manage your risk and capital positions accordingly.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

Margin Change – Soft Edge Margining: October 26, 2020

Our brokerage custodian, Interactive Brokers1, is preparing for potential elevated volatility associated with the upcoming United States presidential election on November 3rd, 2020.

What will change?

Soft Edge Margining (SEM) will change temporarily, effective Monday, October 26, 2020. SEM will end 30 minutes prior to a product’s respective close. Currently, SEM ends only 15 minutes prior to a product’s respective close.

What is Soft Edge Margining?

In general, your account is subject to automated liquidation once its equity value falls below the minimum margin requirement. However, Interactive Brokers allows you some leniency prior to a liquidation.

During the trading day, if your margin deficiency is less than 10% of your account’s Net Liquidation Value, it will not be automatically liquidated. In other words, your account will only be liquidated if it falls below the Soft Edge Margin.

This allows your account to be in margin violation for a short period of time. Once your account falls below SEM however, it is then required to meet full maintenance margin and your account will be subject to automatic liquidation to bring it back to margin compliance.

Please note that Interactive Brokers reserves the right to restrict Soft Edge access on any given day and she may eliminate SEM completely in times of heightened volatility. Second, Soft Edge Margin is not displayed in your Euro Pacific Trader.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

Margin Change – US Elections: September 28, 2020

Our brokerage custodian, Interactive Brokers1, is preparing for elevated volatility before and after the 2020 United States presidential election in November. As a result, margin requirements2 on Futures & Derivatives will increase by as much as 35% above normal requirements, starting September 28, 2020.

What instruments are impacted?

Interactive Brokers plans to increase Equity Index Futures & Derivatives margins by the aforementioned 35%. For example, ES futures and similar products based on the S&P 500 index would go from a scanning range of approximately 7% to 9.6%.

These instruments will NOT be impacted, as their margin rates already exceed their futures equivalents:

  • Stocks
  • ETFs
  • Commodities
  • Forex
  • Bonds

Other instruments not mentioned above may also not be affected.

Schedule of Changes

  1. Initial margin requirements: Gradual daily increases from normal levels starting September 28th to a rate that will be 35% higher by October 23rd.
  2. Maintenance margin requirements: Gradual daily increases in a similar manner between October 5th and October 30th.

These new requirements will be implemented daily after the market closes in New York, and will be effective the next trading day.

Based on these new changes, accounts that are unable to meet the new margin requirements will be subject to automated liquidations3 in order to bring the account into margin compliance. Accounts subject to risk based margin will have their scanning ranges increased in a similar manner.

Example

Consider a Reg. T margin account with stock XYZ having an Initial Margin requirement of 50% and a Maintenance Margin requirement of 25%. With the increase fully implemented, the new requirements would be 67.5% Initial and 33.75% Maintenance.

Note: Interactive Brokers may make additional changes to the margin on certain products, or all products, depending on volatility. This includes changes built into the standard margin model as well as any new house margin requirements that may be imposed.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

2 Information on Interactive Broker’s margin rules can be reviewed in this article. To monitor your Euro Pacific Trader available margin balance, please read this guide.

3 Interactive Brokers (IB) will liquidate your positions without prior notice until your account complies with margin requirements. IB automatic liquidation of under-margined accounts is designed to protect customers and to protect IB in times of market turmoil.

Margin Change – Hong Kong Exchanges: September 18, 2020

Interactive Brokers1 will begin to incorporate the following changes to their margin methodology2 calculations for HKFE and SEHK products3, effective Friday, September 18, 2020.

Methodology Update

  1. Risk Scenarios: The Risk Scenarios will be computed based upon Interactive Brokers’ intraday mark price of the underlying stock, instead of previous end-of-day data.
  2. Price Scans: Scanning ranges, which apply to stock or derivative products, will reflect the margin requirement percentage of the underlying stock. For example, if the underlying stock has a margin requirement of 40%, then the price scanning will also reflect 40%.
  3. Volatility Scanning Range: Interactive Brokers will introduce implied volatility scans (at all price levels) in which the volatility is increased/decreased by 15%, 75% for broad-based indexes, and 150% for all remaining classes. Additionally, Interactive Brokers will recognize a given stock-specific implied volatility surface to predict the rate of change for implied volatility under each price scenario. For example, a stock with a daily volatility of 5% is unlikely to see much increase in the implied volatility of its options if the stock drops 10% because it is within its normal range of moves. However, a 10% drop for a stock with a daily volatility of 0.5% will probably experience a ten-fold increase in implied volatility as the volatility increases to 5%. Additionally, Interactive Brokers will apply a stock-specific implied volatility surface to predict the rate of change for implied volatility under each price scenario.

How will these changes impact my portfolio?

The increase will be phased in over a series of daily increments beginning, after the New York close on September 17, 2020 and continuing through trade date September 24, 2020.

To evaluate the full impact of this change on your portfolio so that your account may remain margin compliant, please see this related article and, from the margin mode setting in Risk Navigator, select “Margin 20200924.”

Based on these new changes, accounts that are unable to carry the positions under these new margin requirements are subject to automated liquidations in order to bring the account into margin compliance.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

2 Risk-based margin methodology calculates margin requirements by analyzing the potential worst-case loss a portfolio can suffer over a given period (typically one day). The methodology uses a series of hypothetical market scenarios that reflect changes to underlying price moves and, in the case of options, time decay and changes to implied volatility. However, the market scenarios are static and based upon the previous end-of-day data (Source: Interactive Brokers).

3 HKFE: Hong Kong Futures Exchange; SEHK: Hong Kong Stock Exchange.

Where can I find my tax forms?

Tax Reporting

Form 1042-S reports to the IRS any US Source Income earned by non-US persons and entities subject to US withholding tax, which includes interest, dividends, and other fees/payments on your account for the year. You may receive multiple 1042-S forms reporting different types of income.

Learn more about US Source Income here.

Where to Access

Currently, the primary tax form available for viewing is Form 1042-S. To access and print your tax forms, log in to your Euro Pacific Trader Client Portal, and then click Reports > Tax > Tax Forms inside the Menu.

How do I transfer my securities to another broker?

The purpose of this article is to assist you transfer positions from your Euro Pacific Trader brokerage account to another broker of your choice.

Disclaimer

  • Only equities (stocks, ETFs, and bonds) are eligible for transfer
  • Your receiving brokerage account’s account name must match your account name with us, i.e. first party
  • We cannot guarantee that your receiving broker supports all of your securities
  • A standard transfer fee will be applied

Transfer Process

1. Gather your transfer details

We will need:

  • Receiving broker’s name
  • Account name at receiving broker
  • Account number at receiving broker
  • Receiving Broker’s email address
  • Assets to be transferred (Name, Symbol, Quantity)

2. Submit your request

After gathering the information above, please create a case inside your eBanking stating your request and include/attach your information compliance pre-approval.

3. Transfer initiated with your broker

Interactive Brokers1, our brokerage custodian, will initiate contact with your receiving broker. Transfer times vary greatly, depending on how responsive your receiving broker’s transfer department can communicate with Interactive Brokers. The average transfer takes 1-2 weeks.

Please notify your receiving broker and do not trade while your transfer is pending.

After you have completed your transfer form, please refrain from buying or selling equities, to prevent complications during the securities transfer. Please also notify your receiving broker that Interactive Brokers will be contacting them to initiate the securities transfer.

4. Check the status of your transfer

Interactive Brokers may or may not notify us when the transfer is complete, so we recommend that you check your receiving brokerage account periodically for the securities.


1Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.

For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.

LAST UPDATED: MARCH 11, 2024

August 29, 2022: Euro Pacific Bank liquidation has commenced. Please read our formal instructions here as it is time-sensitive.

September 2, 2022: Update on pending transactions, brokerage, and account migration.

September 8, 2022: Qenta has emailed a welcome letter to all EPB clients. You can read a copy of it here.

September 16, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 28, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 30, 2022: Update on bank liquidation, pending transactions, and migration of assets to Qenta Inc.

October 8, 2022: Update on opt-out deadline for EPB clients who do not wish to migrate their account to Qenta Inc..

October 14, 2022: Customer Update & Townhall.

October 21, 2022: Update on Opt-out deadline - Extended.

November 01, 2022: Mutual funds & outgoing wire requests update.

December 05, 2022: Migration & liquidation update.

December 16, 2022: Comprehensive FAQ is published.

January 27, 2023: Correspondent bank update.

March 8, 2023: Migration & liquidation update.

March 31, 2023: Migration & liquidation update.

April 20, 2023: Liquidation update- Action required.

May 05, 2023: Migration & Liquidation update.

May 31, 2023: Migration & Liquidation update.

June 17, 2023: Receiver's report.

June 23, 2023: Migration & Liquidation update.

July 20, 2023: Migration & Liquidation update.

September 01, 2023: Migration & Liquidation update.

September 22, 2023: Report & Communication Portal.

September 22, 2023: Report & Communication Portal.

November 20, 2023: Progress Report (Opt-out Only).

November 21, 2023: Migration Update (Opt-in Only).

February 02, 2024: Migration & Liquidation update.

February 19, 2024: Migration & Liquidation update.

March 03, 2024: Migration & Liquidation update.

March 11, 2024: Receiver's Reports.