Trading OPM with IB

[smbtnt]

Need some advice regarding 'OPM trading' from experienced members.

We (4 traders) intend to trade an account funded by a pool of investors, what would be the best way of setting this up on the broker side? Preferred broker is interactivebrokers.

Ideal setup is having the clients opening accounts in their own name, this would form 'a master account' which can be accessed by the traders.

Is this a viable setup?

 

[Cotton]

http://institutions.interactivebrokers.com/en/accounts/advisors/advisorsMain.php?ib_entity=inst

and if you don't qualify as professional (which you should if trading OPM):

http://www.interactivebrokers.com/en/pagemap/pagemap_account_indiv.php

 

[smbtnt]

We are not professionals.

Is this requirement only in the US?

We are not based in the US.

 

[DHOHHI]

I trade some money for others. I don't use IB though. I'm set up with MB Trading. Having the individuals set up the account in their own name was the route we went with the individuals granting me trading authorization. There's about one page of legal stuff on the Limited Trading Authorization form.

And when you actually trade you can use the MAT (Managed Account Trading) feature to buy/sell in any (all) of the accounts you're managing.

 

[blobmorse]

We can do that. http://www.victorsecurities.com/ ask for Bob Morse

 

[marklucas]

Which country are you based in, is the fund based in, are the clients based in?

Quote from smbtnt:

We are not professionals.

Is this requirement only in the US?

We are not based in the US.