IB Advisor Account Specifications_________________________
Friends & Family Account
Professional Advisor Account
Description
Multiple client accounts established by an
advisor who manages investments for a
small number of people (fewer than 15
advisees or whatever number is used for
exemption in the advisor’s home
state/country).
Multiple accounts managed by a US
Registered Advisor/Commodity Trading
Advisor or Non-US Registered Professional.
Application
Advisor application is fully electronic.
Advisor completes application for client
electronically and sends to customer for
paper signature. Paper application submitted
to IB for approval
Same as Friends & Family Account.
Customer Types
Advisor: Individual, Partnerships, LLCs,
Unincorporated Businesses or Corporations.
Friends & Family: Individual, Joint, Trust,
IRAs, Partnerships, LLCs, Unincorporated
Businesses or Corporations.
Funding
Commissions
Wires and checks in base currency of the
account. Advisor fills out deposit or
withdrawal form for the client. Client sends
(receives) funds to (from) IB.
Stocks: $0.01/Share <= 500, $0.005/Share
>500
Options: $1.00/Contract
Futures: $2.40/Contract
SSF: $1.00/Contract
Same as Friends & Family Account.
Same as Friends & Family Account.
Same as Friends & Family Account.
European and Asian commissions at
comparable rates.
Wrap Fees
Advisor may specify a wrap fee mark-up for
a percent of assets, daily amount and/or a
percent of yearly P&L.
Same as Friends & Family Account.
All non-US advisors may also specify a
commission mark-up. Wrap fee not available
for Canadian Friends & Family accounts.
Account
Minimums
$10/month (or USD equivalent) minimum
in commissions and/or market data fees.
Same as Friends & Family Account.
Customers age 25 and under (student
minimum): $3/month (or USD equivalent)
minimum in commissions and/or market
data fees.
$2000 (or USD equivalent) balance per
account to open. $100 (or USD
equivalent) balance to maintain account.
Market Data
Professional or Non-Professional market
data required.
Professional market data required.
Transfers
Full or partial ACATS entered by advisor
and sent to client for approval. Client then
sends to IB.
Same as Friends & Family Account.
Products
Stocks, options, futures, SSFs and ETFs
around the world.
Same as Friends & Family Account.
Account
Structure
Advisor opens a master account for wrap
fees collection and trading purposes.
Multiple client or sub accounts may be
linked to the master account.
Same as Friends & Family Account.
Trade Entry
Advisor trades through the Trader
Workstation for his or her clients. Trade
allocations may be made by % of total
order or equity. Multiple advisor
employees may trade the client accounts.
Same as Friends & Family Account.
Statements are provided for advisors and
clients directly through the IB web site.
Available for the advisor, each client, and
on a consolidated basis.
Same as Friends & Family Account.
Margin enforcement and position
liquidation occurs on a real-time basis for
each advisor and client account.
Same as Friends & Family Account.
Phone, chat and email.
Professional services phone, chat and email
provided to advisor.
Statements
Margin/Liquidation
Customer Service