Two Accounts with IB Possible?

Discussion in 'Interactive Brokers' started by SuperLimitUser, Aug 18, 2007.



  1. does that mean i will need to submit application twice?
     
    #11     Aug 19, 2007
  2. Open Friends and Family Advisor account. You can allocate trades among your accounts.
     
    #12     Aug 19, 2007
  3. nocents

    nocents

    If you open a family/friend advisor account, do you have to pay professional fees (nasdaq)?
     
    #13     Oct 14, 2007
  4. JackR

    JackR

    Not unless you are a true professional. If the accounts are truly friends and family and you are not getting paid the answer is generally no.

    Jack
     
    #14     Oct 14, 2007
  5. GTC

    GTC

    When I have asked this exact question to an IB CSR this month very clearly in details, the CSR says that we cannot do it if those are linked with the Advisor account. You can choose the commission structure (either bundled or unbundled) through the Advisor account. Besides, you cannot access your account through the web-trader. However, if you keep your accounts separated i.e., no way linked with the Family/Advisor account, then you can have different commission structures, trading permissions and even different profiles.

    Since someone here said otherwise, I am not sure if the CSR was fully correct in saying that Family/Advisor's sub-account1 and sub-account2 could not have different commission structures.
     
    #15     Oct 15, 2007
  6. rayl

    rayl

    Different question --

    Can one do DTC FOP transfers from one IB account to another?

    I noticed that Interactive Brokers, LLC does appear on the FOP withdrawal list.

    The specific reason I want to do this is to open a cash account and move ETFs & CEFs where I am expecting a larger year end cap gains distribution. To avoid the risk that those shares are loaned out and receiving a PIL instead of a tax advantaged capital gain. I am perfectly willing to fund a 2nd cash account and pay the inactivity fee (that's small compared to the tax loss). If not, I will move the positions to a different broker in November.

    The lack of protection against PILs for tax advantaged distributions is just untenable. (And is one area where other brokers, even payment for order flow guys, do better.)
     
    #16     Oct 16, 2007