Financial Advisor How To: Linking Related Client Accounts

Overview: 

Account linkage provides account holders who maintain multiple accounts under a single advisor, the ability to group the accounts together under a single user name. The benefits of account linking include the following:

  • The ability to log into all accounts via a single user name and password;
  • Account accessed using a common security device;
  • Activity fee minimums, when applicable, are determined based on commissions consolidated across the linked accounts;
  • Consolidated reporting of accounts.

While linking may be performed by the client, this article outlines the steps by which an advisor may link accounts on behalf of the client

Steps:

1. Linkage begins by logging into Account Management at the master account level and selecting the Manage Clients, Accounts and then Link Client Accounts menu options.

 

 2. You will then be provided with a drop down list of client which are eligible to be linked. While multiple clients may be linked in a given session, the linkage steps must be completed for a given client before proceeding to another.

 

 

3. After selecting the client to be linked, a list of all of the client's accounts that are eligible to be linked will be presented.  Here, you will be prompted to specify which of the user names is to be retained for future account access. Once the linkage process has been completed, all other user names will be deactivated.

 

4. Next you will be presented with the Account Information page where confirmation of the client's personal information will be performed. In the event the client maintains information which differs among accounts (e.g., residential address), you will be prompted to select that which is accurate and is to be retained following completion of linkage.

 

5. Next, select any or all of the standing banking instructions which will be retained.

 

6. Confirmation of the linkage request is then provided.

 

IMPORTANT NOTES:

  • You must select the client account with the highest level security device.
  • Once the accounts are linked, the unique usernames and passwords for the accounts to be linked with this account will no longer function. The surviving username and password associated with the account will function for all linked accounts.
  • Interactive Brokers will link these accounts on Fridays.
  • Once the accounts are linked, the security devices for the accounts to be linked with this account will no longer function and the device associated with this account will function for all linked accounts. Those device do not need to be returned to IB, as per KB975

Welcome to Interactive Brokers

Overview: 

Now that your account is funded and approved you can start trading. The information below will help you getting
started as a new customer of Interactive Brokers.

  1. Your Money
  2. Configure your account to trade
  3. How to trade
  4. Trade all over the World
  5. Five points to enrich your IB experience

 

1. Your Money
Deposits & Withdrawals General Info. All transactions are administered through your secure Account Management
Deposits
First, you create a deposit notification through your Account Management > Funding > Fund Transfers > Transaction Type: “Deposit” How to create a deposit notification. The second step is to instruct your Bank to do the wire transfer with the bank details provided in your Deposit Notification.
Withdrawals
Create a withdrawal instruction via your secure Account Management > Funding > Fund Transfers > Transaction Type: "Withdrawals" How to create a withdrawal instruction
If you instruct a withdrawal over the Withdrawal limits, it will be considered an exceptional withdrawal and we will therefore need to match bank account holder and IB account. If destination bank account has been used for a deposit, withdrawal will be processed; otherwise, you must contact customer service and provide the documents needed.
Troubleshooting
Deposits: My bank sent the money but I do not see it credited into my IB account. Possible reasons:
a) A fund transfer takes 1-4 business days
b) A Deposit Notification is missing. You have to create it via your Account Management and send a ticket to Customer Service
c) Amending details are missing. Your name or IB account number is missing in the transfer details. You have to contact your bank and ask for the full amending details.
d) ACH initiated by IB is limited to 100k USD in a 7 business period. If you opened a Portfolio Margin account where the initial requirement is 110k, a wire deposit might be the better deposit option to reduce wait time for your first trade. If selecting ACH a wait time of almost 2 weeks or a temporary downgrade to RegT can be possible solutions.
Withdrawals: I have requested a withdrawal but I do not see the money credited to my bank account. Possible reasons:
a) A fund transfer takes 1-4 business days
b) Rejected. Over the max it can be withdrawn. Please check your account cash balance. Note that for regulatory requirements, when the funds are deposited, there is a 3 day holding period before they can be withdrawn.
c) Your bank returned the funds. Probably because receiving bank account and remitting bank account names do not match.

 

2. Configure your account to trade
Difference between Cash and Margin accounts: If you have chosen the FastTrack application, by default your account type is a cash account with US stock permission. If you would like to get leverage and trade on margin, here how to upgrade to a RegT Margin account
Trading Permissions
In order to be able to trade a particular asset class in a particular country, you need to get the trading permission for it via your Account Management. Please note that trading permissions are free. You might however be asked to sign risk
disclosures required by local regulatory authorities. How to Request Trading Permissions
Market Data
If you want to have market data in real-time for a particular product/exchange, you need to subscribe to a market data package charged by the exchange. How to subscribe to Market data
The Market data assistant will help you choose the right package. Please watch this Video explaining how it works.
Customers have the option to receive delayed market data for free by clicking the Free Delayed Data button from a non-subscribed ticker row.
Advisor Accounts
Have a look at the user guide getting started as advisors. Here you see how to create additional users to your advisor account and grant them access and much more.

 

3. How to trade
The Trader's University is the place to go when you want to learn how to use our Platforms. Here you will find our webinars, live and recorded in 10 languages and tours and documentation about our various Trading Platforms.
Trader Workstation (TWS)
Traders who require more sophisticated trading tools can use our market maker-designed Trader Workstation (TWS), which optimizes your trading speed and efficiency with an easy-to-use spreadsheet interface, support for more than 60 order types, task-specific trading tools for all trading styles, and real-time account balance and activity monitoring. Try the two models
TWS Mosaic: for intuitive usability, easy trading access, order management, watchlist, charts all in one window or
TWS Classic: the Advanced Order Management for traders who need more advanced tools and algos.
General Description and Information / Quick start guide / Usersguide
Interactive Tours: TWS Basics / TWS configuration / TWS Mosaic
How to place a trade:  Video Classic TWS / Video Mosaic
Trading tools: General Description and InformationUsers guide
Requirements: How to install Java for WindowsHow to install Java for MAC / Port 4000 and 4001 needs to be open
Login TWSDownload TWS
WebTrader
Traders who prefer a clean and simple interface can use our HTML-based WebTrader, which makes it easy to view market data, submit orders, and monitor your account and executions. Use the latest WebTrader from every browser
Quick Start Guide / WebTrader User's Guide
Introduction: Video WebTrader
How to place a Trade: Video WebTrader
Login WebTrader
MobileTrader
Our mobile solutions allow you to trade your IB account on the go. The mobileTWS for iOS and the mobileTWS for BlackBerry are custom-designed for these popular models, while the generic MobileTrader supports most other Smart phones.
General Description and Information
Order Types Order Types available and Description / Videos / Tour / Users guide
Paper Trading General Description and Information / How to get a Paper Trading Account
Once your paper account is created, you can share the market data of your real account with your paper trading account: Account Management > Manage Account > Settings > Paper trading

 
4. Trade all over the World
IB accounts are multi-currency accounts. Your account can hold different currencies at the same time, this allows you to trade multiple products around the world from a single account.
Base Currency
Your base currency determines the currency of translation for your statements and the currency used for determining margin requirements. Base currency is determined when you open an account. Customers may change their base currency at any time through Account Management.
We do not automatically convert currencies into your Base currency
Currency conversions must be done manually by the customer. In this video you can learn how to do a currency conversion.
In order to open a position denominated in a currency that you do not have in your account, you have two possibilities:
A) Currency conversion.
B) IB Margin Loan. (Not available for Cash Accounts)
Please see this course explaining the mechanics of a foreign transaction.

 

5. Five points to enrich your IB experience
1. Contract Search
Here you will find all our products, symbols and specifications.
2. IB Knowledge Base
The Knowledge Base is a repository of glossary terms, how-to articles, troubleshooting tips and guidelines designed to assist IB customers with the management of their IB accounts. Just enter in the search button what you are looking for and you will get the answer.
3. Account Management
As our trading platforms give you access to the markets, the Account Management grants you access to your IB account. Use Account Management to manage account-related tasks such as depositing or withdrawing funds, viewing your statements, modifying market data and news subscriptions, changing your trading permissions, and verifying or changing your personal information.
Log In Account Management / AM Quick Start Guide / AM Users Guide
4. Secure Login System
To provide you with the highest level of online security, Interactive Brokers has implemented a Secure Login System (SLS) through which access to your account is subject to two-factor authentication. Two-factor authentication serves to confirm your identity at the point of login using two security factors: 1) Something you know (your username and password combination); and 2) Something you have (an IB issued security device which generates a random, single-use security code). As both knowledge of your username/password and physical possession of the security device are required to login to your account, participation in the Secure Login System virtually eliminates the possibility of anyone other than you accessing your account.
How to Activate your Security Device / How to Obtain a Security Code Card / How to return Security device
In case you forgot your password or lost your security code card, please call us for immediate assistance.
5. Statements and Reports
Easy to view and customize, our statements and reports cover all aspects of your Interactive Brokers account. How to view an Activity Statement 

 

Option Strategy Lab

General overview of the Option Strategy Lab

TWS Order Presets: Primary Order Fields

Brief video on Presets that are relevant to your Primary Order

Cloud Watchlists

Overview: 

This article explains how to setup Cloud Watchlists.

Background: 

It is now possible to synchronize the watchlists on your mobile devices with the watchlists of Trader Workstation on your computer. You will no longer need to worry about adding same tickers over and over again. The Cloud Watchlists feature is available in Trader Workstation build 936 and higher. Once the Cloud Watchlists have been enabled, they can be then imported in mobileTWS using the "Import" option from the Configuration menu.

Enable the Cloud Watchlists in Trader Workstation

  1. Login into the Trader Workstation
  2. Click on Edit in top menu, then on Global Configuration (or File -> Global Configuration if TWS is in the Mosaic layout)
  3. In the left column of the configuration window, click on Lock and Exit
  4. In the right pane, mark the checkbox "Save watchlists to cloud" (as shown in the screenshot below)
    Enable Cloud Watchlists in the TWS
  5. Click Apply, then OK to close the configuration window

Enable Cloud Watchlists on a mobile device

 

iPhone

  1. After the Cloud Watchlists feature has been enabled in TWS, login into mobileTWS
  2. Upon login, you will be prompted with a screen asking you to try the new feature
  3. Select "Try It", and then select the device/computer to import the watchlist from
  4. If you are not shown the "Try It" prompt, please go to the Configuration menu and select Watchlist Import and select the device/computer to import from
  5. In the Configuration meny, enable the option "Save Cloud Watchlists"

iPad

  1. After the Cloud Watchlists feature has been enabled in TWS, login into mobileTWS
  2. Upon login, you will be prompted with a screen asking you to try the new feature
  3. Select "Try It", and then select the device/computer to import the watchlist from
  4. If you are not shown the "Try It" prompt, tap on "Setup" in top left corner and enable "Save cloud watchlists"
  5. Back in the main screen, in top left section, tap on the Import button and select the device/computer from which to import the Cloud Watchlist

Android mobile or tablet

  1. After the Cloud Watchlists feature has been enabled in TWS, login into mobileTWS
  2. Upon login, you will be shown the Watchlist Import wizard
  3. Select the device/computer from which to import the watchlist
  4. To see the imported watchlists, navigate to Quotes and Charts from the main menu and select an imported watchlist from the dropdown

Please note that it is not possible to sync watchlists from mobileTWS to your desktop TWS.

 

 

 

 

IRA: Retirement Account Resource Center

IMPORTANT NOTE: This article has been customized for use by self-directed Individual Retirement Account (IRA) owners for information purposes only.  Persons are encouraged to consult a qualified tax professional with the investments and elections within the IRA.   IB does not provide tax advice.  For detailed information regarding IRAs, you may consult the IRS Publication 590-A about IRA contributions and the IRS Publication 590-B about IRA distributions.

This resource center provides a central reference point for information concerning the various IRA account types offered by IB. 

Important Notice - Select IRA Tax Reporting for key information with transaction and tax reporting in your IRA.

 

Account Management IRA Reference

Account Management IRA Tab

Beneficiary Options

Charitable Distributions

Conversions to a Roth IRA

Direct Rollovers - How & When

Frequently Asked Questions

Recharacterizations from a Roth IRA

Required Minimum Distributions

Rollover Rules & Conditions

Understanding Tax Forms

 

 

 IRS Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.

How to send documents to IB using your smartphone

Overview: 

Interactive Brokers allows you to send us a copy of a document even if you do not currently have access to a scanner. You can take a picture of the requested document with your smartphone.

Below you will find the instructions on how to take a picture and send it to IB per email with the fllowing smartphone operating systems:

iOS (iPhone)

Android (i.e. Samsung Galaxy, HTC One X, Sony Xperia, Motorola Droid)

Windows Phone (i.e. Nokia Lumia, HTC Titan, Samsung Focus)

 If you already know how to do so, please consult the instructions about the information you will need to send us aside from the document picture. Click HERE - Where to send the email to and what to include in the subject.

iOS
1. Press the power button to turn your iPhone screen on. Tap, hold and slide upwards the
Camera icon on the bottom right of your screen then drag it upwards to access the Camera.

slide up from the lock screen to take a picture

- If you do not have the Camera icon, you may access the Camera app from the home screen
of your iPhone.
2. Place your iPhone above the document and take the desired portion or page of the document
and tap on the Camera button (designated with 1 on the below illustration - Fig. 3) to take a
photo. Then you need to access the picture - tap the image in the lower left-hand corner (number 2 in the
illustration)

Tap here to take a picture

3. Exit to the home screen by pressing the round Home button on the face of the iPhone.
4. Open the Photos app
5. Next, tap the album ‘Camera Roll’. Make sure that the picture is clear and the document
is well legible, if it isn’t, please repeat the previous two steps.
6. Touch once the picture to make the menus appear and tap the share icon
designated with 1 in the illustration below.

Share button iOS

5. Select the first option - Email Photo. Please consult the following instructions for the next step - what address you should send the picture to and what else to include aside from the document, HERE.
Note: to send emails your phone has to be configured for that. Please contact your email
provider if you are not familiar with this procedure.


Android
1. Open your applications list and start the camera app. Depending on your phone model, make or setup it might be called differently.
2. Place your phone over the document and take the desired portion or page of the document and
tap the icon for the camera. (The generic button will look like the one shown below.)

Tap to take a picture
3. Press the Home key to go back to the idle screen. Go back to the apps list and start the Gallery
application. On some phones it may be called Pictures or Photos.
4. Open the album called Camera or All pictures. The last image in either of those should be the
document you just took a picture of. Tap the screen once to bring up the buttons and tap the share
icon, which generically should look as shown below.

Share on Android
5. In the sharing menu that will be displayed now tap on Email. Please consult the following instructions for the next step - what address you should send the picture to and what else to include aside from the document, HERE.
Note: to send emails your phone has to be configured for that. Please contact your email
provider if you are not familiar with this procedure.

Send per email

 

Windows Phone
1. Press the camera button in the Desktop menu of Windows phone. (If you do
not see the camera in the desktop menu, please scroll to the right and choose
camera in the listed applications)
2. Take a picture by pressing the trigger button on the side of the phone.
3. Open the picture by scrolling to the left and press the ‘...’ menu item
at the bottom task bar to see the available options.
4. Please choose send and the configured Email account you would like to use.
5. In the upcoming email, please add the destination email address, the
subject and the text you would like to send and press the ‘Send email’ button in
the bottom menu. Please consult the following instructions for the next step - what address you should send the picture to and what else to include aside from the document, HERE.
Note: to send emails your phone has to be configured for that. Please contact your email
provider if you are not familiar with this procedure.


WHERE TO SEND THE EMAIL AND WHAT TO INCLUDE IN THE SUBJECT
The email has to be created observing the below instructions:
1. In the ‘To:’ field type...
a. newaccounts@interactivebrokers.com if your you are a resident of a non-European country
b. newaccounts.uk@interactivebrokers.co.uk if you are a European resident
2. The subject field must contain all of the below:
a. Your account number (it usually has the format Uxxxxxxx, where x are numbers) or your
username
b. The purpose of sending the document. Please use the below convention:
i. PoRes for a proof of residential address
ii. PID for a proof of identity

How to request a Digital Security Card+ (DSC+) replacement

The following steps are required in order to replace a Digital Security Card+ which has been lost, stolen or became inoperable

1. Notify IB Client Services - Contact IB Client Services to obtain a temporary account access (Temporary Code). This service can only be provided via telephone and requires the identity of the account holder to be verified, as detailed in KB70

2. Obtain an Online Security Code Card - Activate an Online Security Code Card, which offers enhanced protection and full Account Management functionality for an extended period of 21 days. Please consult KB1873 should you need guidance for this specific step

3. Request the DSC+ replacement - Once you have completed the Online Security Code Card activation, please remain in the Secure Login System section of your Account Management and order your replacement DSC+ as follows

4. Click on the button Request Physical Device

5. The shipping address will be shown in the device information screen. If your address is outdated or invalid, you can amend it by clicking on Change Address and following the on-screen instructions. If you do not need to update your address, please proceed to step 6.

6. Enter a four-digit numeric  Soft PIN1 for your DSC+. Please make sure to remember the PIN you are typing since it will be necessary to activate and to operate your device. When applicable and desired, you may change the account on which the 20 USD deposit will be kept on hold2.  Click then on Continue

7. The system will show you a summary of your order. Please make sure of the correctness of all the information displayed. Should you need to perform changes, click on the button Back, otherwise submit the request by clicking on Continue

8. You will receive a final confirmation containing the estimated shipment date3. Click on Ok to finalize the procedure

 


Notes

1. For PIN guidelines, please consult KB2269

2. The Security token and the shipment are both free of charge. Nevertheless, when you order your device, we will freeze a small amount of your funds (20 USD).  If your device is lost, intentionally damaged, stolen or if you close your account without returning it to IB, we will use that amount as a compensation for the loss of the hardware. In any other case, the hold will be released once youre device has been returned to IB. More details on KB1861

3. For security reasons, the replacement device is set to auto-activate within three weeks from the shipment date. IB will notify you when the auto-activation is approaching and when it is imminent.

 

References
  • See KB1131 for an overview of the Secure Login System
  • See KB2636 for information and procedures related to Security Devices
  • See KB2481 for instructions about sharing the Security Login Device between two or more users
  • See KB2545 for instructions on how to opt back in to the Secure Login System
  • See KB975 for instructions on how to return your security device to IB
  • See KB2260 for instructions on activating the IB Key authentication via IBKR Mobile
  • See KB2895 for information about Multiple 2Factor System (M2FS)
  • See KB1861 for information about charges or expenses associated with the security devices
  • See KB69 for information about Temporary passcode validity

 

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