I have a corporate account where I do day trading, swing trading, position trading and investing. I would like to break it down into 2 accounts, one for day and swing trading and one for position trading and investing. But it has to be under the same corporate entity. Can this be done? I'm aware there are subaccounts, but for instance, if I create a subaccount, would I be able to transfer my positions to it without having to liquidate them? Furthermore, is there a way to name the accounts (I would like to name them by the strategy that they are using)
Yes you can do that. The main account is an F account at IB. The sub accounts are of type U. You can freely move funds (cash) between the accounts and also transfer positions as long as the originating and target account are in the same account holder name. And no, you can't name the accounts yourself. The account ids are generated by their system.how you yourself name your accounts is up to you but you can't specify the name and won't see it in TWS.
Tks. What about IB's "account alias", this seems to be what I'm looking for in terms of 'naming' the account. I'm going for the psychological effects of separating trading and investing
Why not call one account "Short-term quickies", and the other "Stay in for the ride, come hell or highwater?" Or something to that effect.
Yeah. I'm naming one "Trades, unless its a loss then transfer it to the other one" and the other "BTFD plays and stocks im bagholding"
Oh right, I stand corrected on this. Yes you can create an alias for each sub account and that alias will show up in your account statements and even better, if you log in with your master account id you even see those sub account aliases in TWS. But you need to log in with your master account id and from there you can choose which sub account you want to trade and see the matching alias in TWS. Hope this helps.
You can do that at any well established broker. I have multiple live accounts with Forexchief and transfer funds from one to the other.