IB Universal Question
- Thread starter Trader5287
- Start date
I haven't been getting any data from ARCA on the TWS lately.
Anyone else having this same problem?
Anyone else having this same problem?
Help:
I've been using IB for 2 years and really don't want to change but today I was informed that unless I become a RIA, I can't trade the accounts of a select few "clients" that I've worked with for years.
The SEC does not require that I become a RIA since I am only interested in trading for a handfull of people as well as for my own account but IB does.
Does anybody know of a broker who would have the type of account similar to IB that does not require RIA status?
Thanks.
I've been using IB for 2 years and really don't want to change but today I was informed that unless I become a RIA, I can't trade the accounts of a select few "clients" that I've worked with for years.
The SEC does not require that I become a RIA since I am only interested in trading for a handfull of people as well as for my own account but IB does.
Does anybody know of a broker who would have the type of account similar to IB that does not require RIA status?
Thanks.
Help:
I've been using IB for 2 years and really don't want to change but today I was informed that unless I become a RIA, I can't trade the accounts of a select few "clients" that I've worked with for years.
The SEC does not require that I become a RIA since I am only interested in trading for a handfull of people as well as for my own account but IB does.
Does anybody know of a broker who would have the type of account similar to IB that does not require RIA status?
Thanks.
I've been using IB for 2 years and really don't want to change but today I was informed that unless I become a RIA, I can't trade the accounts of a select few "clients" that I've worked with for years.
The SEC does not require that I become a RIA since I am only interested in trading for a handfull of people as well as for my own account but IB does.
Does anybody know of a broker who would have the type of account similar to IB that does not require RIA status?
Thanks.
Hi,
there are some sentences what I didn't get.
Please help me to understand.
"All stocks bought or sold on margin require a minimum of $2,000 in equity.
Stock bought with cash does not have a minimum equity requirement."
Aren't this two sentences in opposite?
what does it mean "marginable stock value" and "non-marginable stock value"?
thanks for your help
there are some sentences what I didn't get.
Please help me to understand.
"All stocks bought or sold on margin require a minimum of $2,000 in equity.
Stock bought with cash does not have a minimum equity requirement."
Aren't this two sentences in opposite?
what does it mean "marginable stock value" and "non-marginable stock value"?
thanks for your help
Alan:
According to Paul Schwartz, Licensing chief in PA, under the 1972 act, section 102 (J) there are certain exclusions to RIA.
What was relayed to me is that I may not advertise, hold letterhead, define myself as an advisor...etc. And I may trade for less than 5 "clients."
Now, IB does not care about this exclusion, and I suppose I can' t blame them, but it does exist. IB currently requires anybody trading for another persons' account to be a RIA.
I gave up my licenses in 1997 to trade for my personal account and have no intention of getting involved with the RIA requirements. I simply have a few old clients that want my help and I'd be happy to do the work.
I have a few ideas and as soon as I get a legal beagle to check them out, I'll post the findings here if thee is still an interest.
According to Paul Schwartz, Licensing chief in PA, under the 1972 act, section 102 (J) there are certain exclusions to RIA.
What was relayed to me is that I may not advertise, hold letterhead, define myself as an advisor...etc. And I may trade for less than 5 "clients."
Now, IB does not care about this exclusion, and I suppose I can' t blame them, but it does exist. IB currently requires anybody trading for another persons' account to be a RIA.
I gave up my licenses in 1997 to trade for my personal account and have no intention of getting involved with the RIA requirements. I simply have a few old clients that want my help and I'd be happy to do the work.
I have a few ideas and as soon as I get a legal beagle to check them out, I'll post the findings here if thee is still an interest.
Def -
I just signed up and got approval for a Universal account. I answreed all the online forms and subscribed to the proper market data. However the TWS still shows as a stock margin acct.
Am I correct in assuming this conversion will take place over the weekend?
I just signed up and got approval for a Universal account. I answreed all the online forms and subscribed to the proper market data. However the TWS still shows as a stock margin acct.
Am I correct in assuming this conversion will take place over the weekend?