I'm just wondering if anyone on ET is using the IB Family & Friends Advisor Account set up. Can anyone tell me a little bit about how it works? I'd like to be able to trade two accounts with the same amount in each, (one mine and one a friends) and have any profits or losses distributed equally between the two accounts. Yet only have to enter trades for my own account. Is this type of thing possible? Thanks in Advance. Runningbear
I don't know if Family & Friends allows you to distribute profits but maybe a better source of information would be their website.
this exactly what the ff account with ib will let you do. i am just in the process of setting my ff account up. so far the paperwork has been a pain. they want you to open a new account for each account you plan to trade and then you have to do a transfer but they wont transfer equities only cash.
Pretty much any clearing firm will let you do this with discretionary accounts, at least in the "futures" world. It's called a "breakdown" account and is the same tool used by CTA's. You enter all trades in one account, and then allocate them however you want to the others. Jessie
You can allocate them after the trade is closed?. I.e, you can literally create a losing or winning account by allocation of winning or losing trades after the trade is closed? Re: Jessie, not IB
Thanks for the link Banjo, that told me everything I needed to know. Ironically there is more info available on ET than at the IB website. Runningbear
The Clinton Family and Friends. In the futures industry, for the sake of expedience, they would let local branches issue bunched orders directly to the floor over the phone, (they may still be doing this) and allocate the fills later, sometimes at the end of the day. Guess how Hillary Clinton made a hundred thousand dollars starting with one thousand ? (she claims she read the WSJ almost daily) When the markets were moving limits and got locked limit up the broker would allocate the buys to his favorite clients at the end of the day. This created a riskless trade in a volatile market in the right direction. Since I was not present I have to say I only guess this. But, if you asked some old timers they would say: of course. They are some other ways she could have benefited but I am not going into it.