Trading an account for someone else with interactivebrokers.

C

cvds16

I am in talks with someone that by the end of the year I would be trading the account for someone else. It is a wealthy individual I have known for like 30 years. I would probably be trading futures of CFD's (since these last might avoid getting him into tax problems; he lives in South-Africa but he is Belgian and Belgian law became less atractive to short term trading). However can I easily set this up though IB ? I've send them an e-mail allready but no reply yet ... I know IB since I used to trade through them in the past but don't have an account with them anymore and never traded through this kinda structure. Is anyone more knowledgeable ? I'd really like to trade to IB since they really seem the most safe ones ... and I want to best for this person ...
 
Open a interactivebrokers friends and faimily account then link it to the individuals IB account. You can link upto 15 accounts to the master.
 
Thanks for this: that was one of the ideas I had. I would prefer a different solution though. The intention is to only trade 1 account. It would be pretty big one.
 
Another thing we would like to do is set limits to the futures I could trade. For example: 2 daxes, 3 gold and so on ... Is that possible ?
 
cvds16 said:
I am in talks with someone that by the end of the year I would be trading the account for someone else. It is a wealthy individual I have known for like 30 years. I would probably be trading futures of CFD's (since these last might avoid getting him into tax problems; he lives in South-Africa but he is Belgian and Belgian law became less atractive to short term trading). However can I easily set this up though IB ? I've send them an e-mail allready but no reply yet ... I know IB since I used to trade through them in the past but don't have an account with them anymore and never traded through this kinda structure. Is anyone more knowledgeable ? I'd really like to trade to IB since they really seem the most safe ones ... and I want to best for this person ...
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Just highly recommend you just call them instead of emailing back n forth unless you're doing the email for documentation purpose just in case you sign up with them and then something they said to you in email really isn't true.
 
well, there is no hurry yet, and I kinda trust ib representatives so there really is no problem there ... we are planning on starting to set things up no earlier than december ... but having some notion allready of where that would lead me would be interesting ... if I don't here from them in the near future I might indeed give them a call ...
 
cvds16, you should still do a friends and family account on IB. This way, if you have any issues, you can call an IB rep and get support for yourself. Everything becomes easier. Furthermore, you never know if you pick up another client...
 
well, I want only clients with minimal over 500.000 € and in total don't want any more than 4.000.000 € in total to play with ... also more clients more headaches most likely ... but indeed maybe I should think about this a little deeper ...
 
I started exactly the way you did, one client, I would log into his IB account and it was a headache. F/F really doesn't cost anything, and makes the whole thing much smoother.
 
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