Interactive Brokers, as a globally renowned Internet plus brokerage firm, has attracted many mainland investors with its catchy slogan "One Click, Global Access". Its business covers a wide range of assets, including stocks, options, futures, foreign exchange, and even cryptocurrency trading, earning it the title of "Swiss Army Knife of the Financial World". However, this "cross-border financial player" has frequently stepped on compliance red lines when expanding into the mainland market.

   In November 2024, the Hong Kong Securities and Futures Commission issued a restriction notice directly targeting Interactive Brokers, freezing assets worth up to HKD 91 million due to suspected market manipulation and fraudulent activities in its client accounts. Earlier, Interactive Brokers had also been condemned by regulators for "unauthorized trading" and other irregularities, exposing "funnel-like loopholes" in its risk control system.

   Despite Interactive Brokers' claim of being regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), mainland Chinese investors should be wary of the risk of "regulatory arbitrage". Its business model conflicts with domestic regulations such as the "Foreign Exchange Management Regulations" and the "Pilot Measures for Cross-border Securities Investment". For instance, providing cross-border account opening services to mainland residents without approval is suspected of bypassing domestic capital account controls.