does that mean i will need to submit application twice?
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Two Accounts with IB Possible?
- Thread starter SuperLimitUser
- Start date
does that mean i will need to submit application twice?
When I have asked this exact question to an IB CSR this month very clearly in details, the CSR says that we cannot do it if those are linked with the Advisor account. You can choose the commission structure (either bundled or unbundled) through the Advisor account. Besides, you cannot access your account through the web-trader. However, if you keep your accounts separated i.e., no way linked with the Family/Advisor account, then you can have different commission structures, trading permissions and even different profiles.Quote from ProgrammerGuy:
Question:
so say you have 2 accounts at IB, account A and account B.
Can account A be under the bundled structure, and account B be under the unbundled structure?
Since someone here said otherwise, I am not sure if the CSR was fully correct in saying that Family/Advisor's sub-account1 and sub-account2 could not have different commission structures.
Different question --
Can one do DTC FOP transfers from one IB account to another?
I noticed that Interactive Brokers, LLC does appear on the FOP withdrawal list.
The specific reason I want to do this is to open a cash account and move ETFs & CEFs where I am expecting a larger year end cap gains distribution. To avoid the risk that those shares are loaned out and receiving a PIL instead of a tax advantaged capital gain. I am perfectly willing to fund a 2nd cash account and pay the inactivity fee (that's small compared to the tax loss). If not, I will move the positions to a different broker in November.
The lack of protection against PILs for tax advantaged distributions is just untenable. (And is one area where other brokers, even payment for order flow guys, do better.)
Can one do DTC FOP transfers from one IB account to another?
I noticed that Interactive Brokers, LLC does appear on the FOP withdrawal list.
The specific reason I want to do this is to open a cash account and move ETFs & CEFs where I am expecting a larger year end cap gains distribution. To avoid the risk that those shares are loaned out and receiving a PIL instead of a tax advantaged capital gain. I am perfectly willing to fund a 2nd cash account and pay the inactivity fee (that's small compared to the tax loss). If not, I will move the positions to a different broker in November.
The lack of protection against PILs for tax advantaged distributions is just untenable. (And is one area where other brokers, even payment for order flow guys, do better.)