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ACATS are good but they can have some problems. They take about 2 weeks so there will be no trading during that time. If you are doing investment accounts then it is not a problem. If they are trading accounts then the two weeks may hurt. You must monitor for rejects. IB does not send you...

On the fees see: http://www.interactivebrokers.com/en/accounts/advisors/advisorWrapFees.php?ib_entity=llc Once you are approved as an advisor you can send the application to your client from within the account. It is a feature in Account Management. You can complete the application and...

Suggest you hunt around at www.greencompany.com. They may have something there. I know Robert Green has specific suggestions on how to set up such fees as the various states tax things differently. If I recall during a conference call, to which I was listening but not taking notes, he said...

In meeting your requirements what do you consider a fair commission for options, equities? Jack

Shadow: Go here - http://www.interactivebrokers.com/cgi-bin/jtwsControl.pl?ib_entity=llc Scroll to bottom of "Standalone" section. There is a selection for getting the previous Windows version at the end of that section. As I write it is 856. Jack

10 R/Ts and no platform charge. However, datafeed from them is not free if you want all the standard futures. See : http://www.tradestation.com/fees/platform_fees.shtm Jack

I think that one should also consider the DSL supplier where speed is concerned. The Baby Bells have truly gotten into the digital data business in the past few years. If they carryover their voice practices to the consumer digital area they will monitor trunk capacity versus usage and...

As I recall: Yes. You can transfer the account as is. However, IB will reject the transfer if: 1) There are any unsettled trades (trades done within three days of the ACATS request). Submit the ACATSrequest at the close of business on the settlement date, You can try to finesse...

Trader99: OK. Perhaps different rules apply. I opened the F&F master. Deposited $100 in the Master, then two weeks later established a personal sub-account to which I added in excess of $2,000. Perhaps there are different rules if the establishing account is advising an account with the...

The IRS says: A wash sale occurs when you sell or otherwise dispose of stock or securities (including a contract or option to acquire or sell stock or securities) at a loss and, within 30 days before or after the sale or disposition, you: * Buy substantially identical stock or...

Options are not reported. You must add those trades manually. Jack

IB is not egalitarian. Just look at the margin interest charged and paid, as well as the interest paid on short credit balances. The tier structure is designed to pay more to bigger players. I for one have no problem with that business model. However, the customer with low balances pays more...

Let's say IB has two people tasked to look for short loaners. Now assume that there are 20 requests one day for one stock not on their available list and they are from 20 different customers that consistently short with IB. Further assume one customer requests another stock, and that...

Nothing now except keep records of the time you spend trading. If you live in the US and have a full-time job you'll have to convince the IRS that you trade for a living., e.g., you spent considerable time in your trading business - almost every day the market(s) were open, with short holding...

I use a tax prep software program (TaxCut) but if I remember correctly, you save the sheet so that you have the carryforward amount for use on your next year's return. Jack

It is very difficult for a broker to provide the cost basis side of a Schedule D. Easiest example is a transfer of your account between brokers. A more complex example is acquiring stock via an option exercise. Or adjusting your basis for stock dividends on which you have paid tax already...

Dividends are on 1099-Div Long and Short Term Capital Gains (Co-mingled) are on 1099-B You must break out the long and short term capital gains as well as input your cost basis. A broker cannot always figure out your cost basis for a stock. Easiest example is a transfer of your account...

You need to open an Advisor Account. Fund it with $20. If you have an advisor account it will start with the letter F. That money covers the $10 datafeed fee if you don't get enough trades in the client accounts. If you will be buying additional data ensure there is enough in the account to...

Do you trade individual stocks? If so, how do you pick them? Have you changed your selection criteria? If you've changed your selection based on "market experience" then you may have selected stocks which work for your system. Nothing wrong with that at all, you just must be aware of it...

IBj: I'm confused by these two statements in your otherwise very lucid explanation. Could you explain? Is there a difference in the "tiers" in 5a and the "yourTier" in 5c? Jack