Only Advisors who are exempt from registration are eligible to open a Friends & Family account. Generally, most jurisdictions require that an advisor have 15 or fewer clients in order to qualify for exemption from registration. However, registration requirements can vary among jurisdictions. For example, advisors residing in the U.S. may be required to register under either State or Federal law if they meet certain criteria (e.g., total assets under management, number of clients, whether they receive compensation, etc.).
For additional information regarding advisor registration requirements, please click here.
Accounts are geared towards professional/active traders and investors; therefore we require the following from customers:
Good or extensive product knowledge for any product you wish to trade.
Prior execution of 100 or more trades (any product).
A minimum equity deposit in cash or stock of USD 10,000 (or USD equivalent) or USD 5,000 for IRA Account (or USD equivalent).
The Progress Bar: The Progress Bar lets you know where you are in the application and how long it should take to complete each section. It shows you the sections you have completed and the section in which you are currently working.
Part I - Master Account Application Process
Create: First we create your account for you using your desired username and password.
Details: Next, you enter information about yourself, the products you wish to trade and your trading qualifications.
Funding: Then you tell us how you intend to fund your account. Note that you are not required to fund your account prior to approval.
Approval: After you complete the first three sections, we review your application for approval. Note that we sometimes require you to provide paper documents before we can complete the approval process.
Configure: In the ProTrack Application, while we review your application, configure the trading permissions and select market data subscriptions. In the FastTrack Application, we configure your trading permissions and market data subscriptions for you based on your selected country.
Agreements: Electronically sign agreements and disclosures, which IB is required to provide.
Complete: Once your account has been funded and activated, you are ready to trade!
You will be notified by email of the results of our applicaiton review. You can also check the status of your application at any time by selecting Finish an Application from the Login menu of our website. Fully completed applications are usually processed within 48 business-day hours under normal business conditions.
Part II - Client Account Application Process
After your Master Account is open and activated, complete the Client Application process as outlined below.
Submit an Application for Each Client Most advisors can submit an application for a client in one of three ways: electronically, semielectronically with paper signature or by paper. All three methods are accessible from Account Management.
Client Account Funding IB offers the same variety of methods to your clients for funding.
Client Application Review and Results Advisors will be notified by email and through the Customer Service Message Center in Account Management of the results of your client's application. IB will also notify your clients via postal mail of these results. Clients whose accounts have been approved will receive a welcome letter which contains instructions on how to access their accounts.
Trade Client Account Once your client funded his or her account and the funds have been credited, you can begin to trade.