Switching IB Account Status

Discussion in 'Retail Brokers' started by Dustin, Jun 5, 2001.

  1. Dustin

    Dustin

    This question is mainly for def, but if anyone else has an answer please respond.

    I have a futures only account with IB, but now that commissions were lowered for equities I would like to switch the account to either and equity account, or one that allows me to trade both. I just talked with an IB representative and they told me that I have to open a new account.

    Is there any way around this? Can't they just switch the status of the account?
     
  2. I have a futures account with IB and a stock and options account. They do not allow both in one account.
     
  3. WarEagle

    WarEagle Moderator

    Dustin,

    Its true that you have to have seperate accounts, but moving funds between them is a snap. Once you've opened the stock account, you can just transfer funds as needed by logging into your futures account and then selecting the transfer option.

    I would love to see an equity/futures combo account, but I'm sure there is a regulatory trash heap standing in the way.

    Kirk
     
  4. Dustin

    Dustin

    OK thanks guys.
     
  5. def

    def Interactive Brokers

    dustin,
    you pretty much got the reply from the others before I saw this post. Regulatory reasons require the seperate accounts. When going through the opening online, most of your information will be completed for you. I understand that there will eventually be a workstation that will display/trade all of your linked accounts via one screen. I really do not know the time frame on this but it is in the pipeline.