I’m using Interactive Brokers & trade stocks within AU/US markets. I have slightly over a year experience & had some questions about other Australian traders who short stocks in the ASX and the US market.
I spoke to an IB rep who said that they (IB) don’t allow Australian residents to short stocks due to restrictions set out by ASIC with margin loans etc.
So my questions are:
- How does an Australian resident with an individual account with IB, short a an ASX or US Stock? - Are these restrictions only applied to IB? - Does an Australian resident need to open a trust account (for example) to get around this? - Is it easier to open an account with an offshore international broker (ie US based), to get around the above.
