Information Regarding Australian Regulatory Status Under IBKR Australia


Australian resident clients maintaining an account with Interactive Brokers Australia Pty Ltd (IBKR Australia), which holds an Australian Financial Services License, number 453554, are initially classified as a retail investor, unless they satisfy one or more of the requirements to be classified as a wholesale or professional investor according to the relevant provisions of the Corporations Act 2001. This article outlines how this process is handled by IBKR Australia.

Australian Regulatory Status

All new clients of IBKR Australia default to being classified as a retail investor unless they produce to IBKR Australia the required documentary evidence to allow IBKR Australia to treat them as a wholesale or professional investor. Investors of IBKR Australia will only have their regulatory status change from retail investor to either wholesale or professional investor subsequent to the required documentation being received and approved by IBKR Australia.

What is a Wholesale Investor?

The most common way to be classified as a wholesale investor is to obtain a qualified accountant’s certificate stating that you have net assets or net worth of at least $2.5 million AUD OR have a gross annual income of at least $250,000 AUD in each of the last two financial years. The qualified accountant’s certificate is only valid for two years before it needs to be renewed. You are required to provide IBKR Australia a new qualified accountant’s certificate prior to expiration in order to retain your wholesale investor classification. We have prepared a wholesale investor booklet, including a pro forma certificate for your accountant to complete, that can be downloaded here.

When your qualified accountant certificate expires, you will be re-classified as a retail investor and as a result trading restrictions may be applied to your account, some of which may result in serious consequences, including but not limited to, forced position liquidations and restrictions on your margin account where applicable. As a result, it is imperative that you provide an updated qualified accountant certificate as soon as possible prior to your wholesale status expiring.

What is a Professional Investor?

In order to qualify as a professional investor, you must have an AFSL, be a body regulated by APRA, be a superannuation fund (but not a SMSF) and/or have net worth or liquid net worth of at least $10 million AUD. If you meet ONLY the financial criteria (i.e. net worth or liquid net worth of at least $10 million AUD), you will need to complete and submit to IBKR Australia the professional investor declaration contained within the professional investor booklet that we have prepared, which can be downloaded here. However, if you meet the criteria by virtue of having an AFSL, being a body regulated by APRA, or as a listed company (but not a SMSF), no booklet needs to be submitted.

What about Self-Managed Super Funds (SMSF’s)?

IBKR Australia have decided to treat all SMSF’s as retail investors, notwithstanding that they may meet the requirements to otherwise be classified as a wholesale or professional investor.

What about trusts?

For a trust to be considered as a wholesale investor, all trustees must be considered a wholesale investor based on the tests described above. Similarly, for a trust to be considered as a professional investor, all trustees must be considered a professional investor based on the tests described above. As a result, if at least one trustee is considered retail, the trust is considered a retail trust, regardless of the status of any other trustees (if applicable).


  • For a full list of the disclosure documents and legal terms which govern the services IBKR Australia will make available please refer to our website.

  • For further information on IBKR Australia, click on our Financial Services Guide.

  • For more information or assistance, please contact our Investor Services.