Interactive Brokers Account Types

Interactive Brokers (IBKR) offers a variety of account types tailored to different trading needs. The main account types include:

• Individual Account: Best for casual traders, providing access to over 10,000 assets with floating spreads starting from 0.2 pips and a $2 commission, which decreases with higher trading volumes. There is no minimum deposit requirement, and trades can start from one unit.

• IBKR Pro Account: Ideal for active traders seeking advanced features and competitive pricing. This account has no minimum order size and offers leverage up to 1:50. Commissions start at $0.005 per share with a minimum of $1.

• IBKR Lite Account: Suited for cost-conscious traders, this account offers commission-free trading on U.S. listed stocks and ETFs, with fixed pricing for other markets.

• MAM/PAMM Account: Designed for money managers handling multiple client accounts, offering the same extensive range of assets as individual accounts, with commissions starting at 0.2 pips.

• Joint Account: For two individuals, allowing shared access to the account, but may have legal and tax implications.

• IRA Account: An individual retirement account available only for U.S. residents.

• UGMA/UTMA Account: For custodians of minors who are U.S. residents.

Interactive Brokers Broker Account Opening Process

To open an account with Interactive Brokers, follow these steps:

• Start Application: Go to the Interactive Brokers registration page and click on “Start Application.”

• Create Account: Enter your email address, choose a username and password, and confirm your email.

• Personal Information: Fill in your legal residence, account type, and personal details including name, address, and employment information.

• Investment Objectives: Provide information about your investment goals, net worth, and trading experience.

• Regulatory Information: Answer questions about your financial background and confirm your tax residency.

• Identity Verification: Upload required documents for identity verification, such as a passport or drivers license, along with proof of address.

• Fund Your Account: After submitting your application, fund your account with the required minimum deposit. The minimum is $10,000 for individual accounts, dropping to $3,000 if you are 25 or younger.

• Finalization: Review all provided information, agree to the terms, and submit your application. Most accounts are approved within one to two business days.

• Account Activation: Once your account is funded, it will be fully activated, allowing you to start trading.

For more detailed information on account types and the application process, please refer to the following sources:

• Interactive Brokers Account Types
• Interactive Brokers Account Opening Guide