You cannot open an IBKR Lite account in the name of an institution, such as a hedge fund, proprietary trading group or organization (corporation, partnership, limited liability corporation or unincorporated legal structure). IBKR Lite accounts can be opened in the name of natural persons.
Can I open an institutional account under IBKR Lite?
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What account types are offered to applicants?
IBKR offers individual, joint, trust, IRA, UGMA/UTMA, partnership, corporation, Limited Liability Company and unincorporated business account types. The account type available to a given applicant depends upon a combination of their country of legal residence (or formation if an entity) and the desired account structure. Visit our website to view…
What is a Family Advisor or Non-Professional Advisor account?
IBKR's Family Advisor and Non-Professional Advisor solutions let you manage, trade and report on multiple accounts from a single master account. The Family Advisor and Non-Professional Advisor accounts allows you to manage 15 or fewer accounts of varying types under a single login including Individual, Joint, Trust, IRA, UGMA/UTMA, Corporation, Partnership, Limited Liability Company, and Unincorporated Legal Structures. The specific limits vary by jurisdiction and the types of accounts in the structure…
Who is eligible for IBKR Lite?
IBKR Lite is generally offered to direct US clients and any US client of an independent Advisor, including both Cash and Margin type accounts. Direct accounts must be natural persons (i.e. cannot be Legal Entity, Org, etc.). For standalone trust accounts, all trustees/beneficiaries on the account must be natural persons. For trust accounts that are under an advisor, the trustees/beneficiaries may be legal entities…
Can I open a Joint account with more than two account owners?
IBKR offers joint accounts with only two owners. If you wish to open an account with multiple owners in excess of two, you would need to first form a legal entity such as a partnership, corporation, limited liability company or unincorporated business and then submit an application on behalf of that entity. Documentation required of entity accounts includes proof of existence (click…