AI Can Now Access Your Brokerage Account — But Experts Warn of Risks

Last month, Interactive Brokers introduced a feature that lets users connect external AI tools — including ChatGPT, Claude and Grok — directly to their trading accounts. Moomoo launched a similar capability in April, calling it 'Moomoo API Skills.' In a blog post, the company described the feature as giving AI the 'eyes' to watch the market, 'ears' to catch the news, and 'hands' to execute trades, transforming a simple chatbot into a real digital trader. For retail investors who already turn to AI for stock picks, the integration removes the friction of manually pasting portfolio data into chatbots.

The benefits are real. Once linked, an AI assistant can access positions, cash balances, trade history, margin availability and risk exposures in real time. Users can ask questions and receive personalised answers grounded in their actual holdings. Bryan Chan, solutions lead at wealth advisory firm Providend, says the AI can 'hold your full account picture alongside broader market context in a single conversation.' Both IBKR and Moomoo require user confirmation before any trade is placed, maintaining a human-in-the-loop safeguard.

But the risks, according to experts, go beyond AI giving bad stock advice. Gary Ang, founder of AI advisory firm Quaintitative and former AI risk lead and investment risk head at the Monetary Authority of Singapore, warns that the bigger danger is not the 'obviously dumb answers' but 'wrong ones that sound plausible.' AI may reference outdated financial statements, pull figures from the wrong year, or fabricate information — mistakes that are difficult to spot when they appear credible. Ang also highlights the risk of prompt injection attacks, where hidden malicious instructions embedded within websites or emails trick the AI into executing unauthorised actions. 'The moment you connect, a company that isn't your broker can see your holdings, your balances, and your trades,' he says.

Providend's Chan advises investors to treat all AI-generated recommendations with caution. AI tools are not licensed financial advisers, he notes — they do not know your income, obligations, risk tolerance, or life stage. And because AI tends to be agreeable in nature, less experienced investors may be more inclined to chase market trends or trade more than necessary. The experts recommend using AI to understand markets rather than to trade, keeping yourself in the loop for every trade, choosing reputable providers, granting only the least access necessary, and verifying every AI-generated figure independently.

Why it matters for Singapore: Singapore is one of the most active retail trading markets in Asia, with platforms like Moomoo and Tiger Brokers seeing strong adoption among younger investors. The MAS's former AI risk lead weighing in on these developments signals that the regulator is watching closely. As AI access to financial accounts becomes more common, the tension between convenience and investor protection will only intensify, making this an issue that Singapore's retail investors and regulators alike will need to navigate carefully.