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Several Filipino investors have reported difficulties accessing Interactive Brokers (IBKR), a popular international online trading platform, amid unverified reports of a regulatory crackdown.
According to a report by Bilyonaryo.com, PLDT confirmed that it restricted access to the platform following directives from the National Telecommunications Commission (NTC) and the Securities and Exchange Commission (SEC).
As of this writing, neither the SEC nor the NTC has issued an official public advisory on their websites regarding a specific ban on Interactive Brokers.
Users Report Access Restrictions
Discussions on the online forum Reddit (r/phinvest) surfaced recently, with multiple users claiming they could no longer access the IBKR website and mobile application via specific internet service providers (ISPs).
According to the Bilyonaryo report, PLDT acknowledged the restriction was due to regulatory orders. Meanwhile, Globe Telecom has not issued a statement regarding the matter. A screenshot of the IBKR accessed via Globe displays a message stating that Globe blocked the website upon regulator order.
User reports on Reddit suggest the implementation is inconsistent.
- User
Fre3_stated: “I have been using IBKR since last month… However, when I tried logging in today, IBKR (mobile, web, desktop apps) is already blocked by PLDT.” - Others noted that mobile data connections (such as Smart or GOMO) or changing DNS settings reportedly allowed continued access, though these workarounds remain unverified.
The reported restrictions have triggered discussions regarding the financial implications for Filipino investors who prefer international brokers over local “feeder funds.”
On Reddit, a user identified as ChristianKlein-SJP, who claimed to be a financial advisor, shared a Monte Carlo simulation comparing the potential long-term returns of an Irish-domiciled ETF (VWRA) accessed via IBKR against a local feeder fund (SB Global Equity Index).
Alleged Simulation Results (User Data): According to the user’s analysis of 10,000 simulated trials over 30 years:
- Median Outcome: The IBKR portfolio reportedly reached $160,400, compared to $140,300 for the local feeder fund.
- Wealth Erosion: The user argued that opting for the local fund could result in a 12.53% loss of potential wealth (approx. $20,100) due to higher management fees and tax implications.
Note: These figures are based on a user-generated model and have not been independently validated by BitPinas.
Online Sentiment: Frustration and Calls for Action
The lack of a prior public advisory has been a primary source of frustration for the online investing community.
In a thread titled “How do we fight IBKR ban?”, Reddit user QKValderama suggested raising awareness on social media, expressing concern that retail investors are being sidelined.
Another user, stealthandvirgin, expressed dismay at the prospect of being limited to the local stock market:
“If they don’t want us to invest on something profitable (US Stocks)… I feel like [we are being forced] to invest here in PH stocks… I cannot [afford to lose] my money by investing on our… PH stocks.”
Another user noted that their IBKR portfolio had allegedly outperformed the Philippine Stock Exchange index (PSEi), which has seen sluggish growth in recent years.
IBKR Support ‘Unaware’ of Issues, User Claims
While local reports cite a regulatory directive, Interactive Brokers has reportedly not received official communication from Philippine authorities.
Reddit user Chromebug claimed to have contacted IBKR’s customer support regarding the issue. According to the user’s account of the conversation:
- No Notice: The support agent reportedly stated they are “not aware of this issue nor have they been contacted by the SEC or Philippines.”
- No Guarantees: The user claimed the agent could not provide guidance on future policy changes for Filipino clients.
As of press time, Interactive Brokers has not released an official statement confirming any restrictions in the Philippines.
Context: Crackdown on Crypto Exchanges
The current access issues with Interactive Brokers mirror a series of enforcement actions taken by the SEC against other unregistered trading platforms over the past two years.
This article is published on BitPinas: Filipino Investors Report IBKR Trading Platform Blocked in PH
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