Registered Brokers and FCMs

Fully Disclosed Broker

• Fully disclosed brokers provide their clients with customer service and marketing. Broker clients can electronically trade or the broker may input trades for the client.
• Clients open accounts electronically.
• Broker user(s) may enter proprietary trades in the master account and can view/modify other broker users’ trades.
• Clients deposit funds and submit withdrawal requests to/from Interactive Brokers directly.
• Broker user(s) are each assigned a set of User Access Rights (trading, funding, report management, account administration, and user management) as well as jurisdiction over a group of master and/or client accounts.
• Client commissions are charged and transferred to the master account; trade commissions are paid from the master account.

Non-Disclosed Broker

• Non-disclosed brokers provide their clients with customer service, marketing, a registration process, and cashiering functions. Interactive Brokers does not know the identity of any individual client. Broker clients can electronically trade or the broker may input trades for the client.
• Brokers configure client accounts based on information provided during their application process.
• Clients can view statements, create a Paper Trading account, and change password.
• Broker user(s) may enter proprietary trades in the master account and can view/modify other broker users’ trades.
• Broker user(s) deposits all funds in the master account and transfers funds between the master and client accounts.
• Broker user(s) are each assigned a set of User Access Rights (trading, funding, report management, account administration, and user management) as well as jurisdiction over a group of master and/or client accounts.
• Client commissions are charged and transferred to the master account; trade commissions are paid from the master account.
• Non-US brokers must be registered as a QI with the IRS.

Omnibus Broker

• Omnibus brokers provide their clients with customer service, marketing, a registration process, cashiering functions, trade entry, and individual client account record keeping. All trades are combined in a consolidated account, and the broker must enter all client trades.
• Omnibus brokers indicate buy/sell and open/close flags on each trade. Based on this indicator, the trade is placed in the proper long/short account.
• Clients do not have access to electronic trading or Account Management functions.
• Broker user(s) deposits all funds in the master account for trading and may transfer funds between the master and proprietary trading accounts.
• Broker user(s) are each assigned a set of User Access Rights (trading, funding, report management, account administration, and user management) as well as jurisdiction over a group of master and/or client accounts.
• Client commissions are charged and trade commissions are paid from the master account.
• Non-US brokers must be registered as a QI with the IRS.