Multiple IB Accounts on One Platform

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May 30, 2017 at 1:14 am #101643

Nick Radge
Keymaster

There has been considerable discussion about this topic, and as has been stated elsewhere, is what I have done for year but using a Financial Advisor account which is not available for regular retail traders.

The alternate answer is using a Friends And Family (FnF) Master structure. Follow these instructions from Neil Swanson, head of IB Australia:

You need to open the master in a personal name (i.e Neil Swanson not a company name as no longer accepted for FnF master) as this is purely an allocation/header account, not a trading account.

Also, they can only have Friends and Family under the master and are unable to charge fees.

Any client with an existing IB account can open the FnF master and then following they can link up their existing IB account(s), note the master must have all privileges (trading configuration/permissions) as the client accounts for the linking to be accepted.

Please have them use the below instructions application link to open a FnF master. You can send this email to all your students to simplify if easier also.

Friends and Family Master Application

https://gdcdyn.interactivebrokers.com/Universal/servlet/formWelcome?p=100&atype=ADV&ibsrp=39

Ensure to select: ‘Salesperson’ then ‘Neil Swanson’ on the 2nd section of the application when asked:

1) How you heard of IB

2) Who helped you with your account application

This will ensure you have an Australian representative on the account and enable me to assist you going forward.

Neil deals with insto clients only so if you have any queries send them back through here and I will pass them on.

September 13, 2019 at 12:18 am #107017

MichaelRodwell
Member

Hi Nick,

Can you check with Neal how this could be managed for a SMSF account? I currently have one account set up with IB but would like to have a seperate account for my new ASX system.

Thanks

Mike

September 13, 2019 at 12:39 am #110398

MichaelRodwell
Member

after speaking with 4 different people I’ve got to the bottom of it.

for SMSF trading multiple strategies they will allow multiple accounts for the SMSF entity beneath a FnF account.

No need to check with Neal. Persistence with the help like paid off this time

December 22, 2019 at 4:35 am #110399

#REF!McGrath
Participant

Hi Mike

I have an existing SMSF account. I want to set up & fund separately another account to trade a different strategy under the SMSF.

So I would set up a FnF account & then add an additional account? Did you have to supply all the documentation to IB again?

Gavin

December 23, 2019 at 2:04 am #110708

MichaelRodwell
Member

Hey Gavin,

No, I didnt need to provide all the same documentation again. It was pretty painless in comparison to a new account for me but I only recently supplied all the docs anyway.

Neal answered a few of my questions and talked me through it on the phone.

Deal with Neal or someone locally for support.

Cheers

December 23, 2019 at 2:51 am #110709

Nick Radge
Keymaster

It’s Neil btw…

December 26, 2019 at 3:16 am #107018

LeeDanello
Participant

I might be wrong but isn’t it a matter of going to Account Management and doing the following?
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