Interactive Brokers Account Types

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

• Individual Account: Best for casual traders, allowing access to over 10,000 assets with no minimum deposit requirement.
• Joint Account: Designed for two account holders, sharing access to the account.
• Trust Account: Managed by a trustee for the benefit of beneficiaries.
• IRA Account: A tax-advantaged retirement account available for U.S. residents.
• Family Office Account: For managing multiple client accounts under one master account.
• Advisor Account: For registered advisors managing client funds, with a master account linked to client accounts.
• Money Manager Account: For professionals managing funds on behalf of wealth managers.
• Broker & FCM Accounts: For registered brokers providing services to clients.
• Proprietary Trading Group Accounts: For organizations with multiple linked accounts.
• Hedge Fund & Mutual Fund Accounts: For managing single or multiple funds under one account.

Each account type has specific features, eligibility requirements, and trading access options, including margin and cash accounts.

Interactive Brokers Broker Account Opening Process

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

• Start the Application:
• Visit the Interactive Brokers website and click on the "Open Account" button.
• Create a username and password, and provide your email address and legal residence.
• Enter Personal Information:
• Fill out your personal details including name, address, marital status, and employment information.
• Indicate your tax residency and provide your Social Security Number or tax identification number.
• Select Account Type:
• Choose the type of account you wish to open (individual, joint, IRA, etc.) and specify whether it will be a cash, margin, or portfolio margin account.
• Regulatory Information:
• Answer questions regarding your financial background, net worth, and investment objectives.
• Fund the Account:
• You can fund your account with cash or transfer from another brokerage. Select your funding method and currency.
• Submit Application:
• Review all information, accept the terms of agreement, and submit your application.
• Approval:
• Most accounts are approved within one to two business days. You can check your application status by logging into your account.
• Start Trading:
• Once approved, you can begin trading on the Interactive Brokers platform.

For detailed information on each account type and the application process, you can visit the Interactive Brokers website.