Advisors who use IB

Discussion in 'Professional Trading' started by traderaaa, Feb 3, 2006.

  1. Are there any advisors, RIA or otherwise, here at ET who use Interactive Brokers.

    Starting an advisory as a RIA and wondering if anyone had any experience with them.
  2. I use IB's "friends and family" account to trade for a few people. I find it fairly easy to trade multiple accounts at once in this program. I'm pretty sure that the only difference between the "friends and family" account and a true RIA account is IB limits the former to just 10 clients (or some other limit based on what state you live in). One cool thing about IB is they don't require any kind of documentation for the first 10 clients ... no series 7, no form ADV, nothing! They make it easy to start trading OPM for people with no formal licenses.
  3. I do the exact same thing with a F&F account. I agree with what ceftrader said -- as far as I can tell they're the same except for the fact I didn't need to register.

  4. ChrisM


    I am CTA, trading through IB FA application.
  5. Chris, what is a FA application?

    Are you charging management fees or does IB allow per trade fees.
  6. ChrisM


    Actually my program does not charge management fees however, yes, IB allows fees per trade (which I don`t use).
  7. ChrisM


    BTW - FA - Financial Advisor, which I think might be similar to FF.
  8. dabao91


    Are there any other advisors, RIA or otherwise, here at ET who use Interactive Brokers? Like to hera your comments, experiences, pros or cons using Interactive Brokers's "Finalcial Advisor (FA)" services.
  9. Any one?

    Please share.
  10. How do you make money then?
    #10     Oct 26, 2009