Interactive Brokers Account Types

Interactive Brokers offers a variety of account types to cater to different trading needs, including:

• Individual Account: Owned and used by a single person.
• Joint Account: Owned and used by two individuals.
• IRA Account: Individual Retirement Account for tax-advantaged retirement savings.
• UGMA/UTMA Account: Custodial account for minors who are U.S. residents.

Key Features:

• IBKR Pro Plan: Lowest cost access to more than 150 markets in 36 countries.
• IBKR Lite Plan: Commission-free trading for U.S. stocks and ETFs, suitable for occasional traders.

Interactive Brokers Broker Account Opening Process

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

• Choose Account Type: Select the appropriate account type based on your trading needs.
• Complete Application: Fill out the online application form with personal information.
• Verification: Your application will be verified, which usually takes a few days.
• Fund Your Account: Once approved, fund your account using a bank transfer or other methods.
• Start Trading: After funding, you can begin trading on the platform.

Requirements:

• Minimum age for margin accounts is 21 years; for cash accounts, it's 18 years.
• Valid identification and proof of residency may be required.

For more details, visit Interactive Brokers.