Interactive Brokers Account Types

Interactive Brokers offers a variety of account types tailored to different trading needs. The available accounts include:

• Individual Account: Ideal for casual traders, providing access to over 10,000 assets with no minimum deposit requirement. Commission starts at $2 per trade with floating spreads from 0.2 pips.

• IBKR Pro Account: Best for active traders seeking advanced features. Commission per share starts at $0.005 with a minimum of $1, and no minimum order size.

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

• MAM/PAMM Account: Designed for money managers handling multiple client accounts, offering similar asset access as individual accounts with additional fees for profitable positions.

• Joint, Trust, IRA, and UGMA/UTMA Accounts: These accounts cater to specific needs such as joint ownership, retirement savings, and custodial accounts for minors.

Each account type has specific features, trading access, margin availability, and commission structures tailored to the trader's profile.

Interactive Brokers Broker Account Opening Process

Opening an account with Interactive Brokers is straightforward and involves the following steps:

• Visit the Website: Go to the Interactive Brokers website and click on "Open an Account".

• Create an Account: Fill in the required information to create a username and password, and verify your email address.

• Complete the Application:

• Provide personal information including your name, address, and employment details.
• Choose the type of account (Individual, Joint, Retirement, etc.) and specify the account type (Cash or Margin).
• Answer questions regarding your tax residency and investment experience.

• Regulatory Information: Fill out details related to your net worth and annual income, along with your investment objectives.

• Upload Documents: Provide proof of identity and address, such as a passport and utility bill.

• Fund Your Account: You can fund your account via bank transfer or check. There is no minimum deposit for most accounts, but margin accounts require a minimum of $2,000.

• Approval Process: Once all documentation is submitted, the account approval process typically takes 1-2 business days.

By following these steps, you can successfully open an account with Interactive Brokers and start trading across various global markets.