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Configuring Your Account

Guide to Choosing the Right Account

Individual Accounts

Individuals
Client Description A single account holder.
Account Description Assets held in a single account owned by a single account holder.
Trading Access & Account Management Account holder has access to all functions. Can add additional users with a Power of Attorney.
Margin Cash and Margin are available.

Family Advisor

Client Description A natural person "Head of Family" managing the accounts of up to five family members.
Account Description A master account linked to individual sub accounts. The master account is used for trade allocations.
Trading Access & Account Management The master account has access to trading and most Account Management functions. Sub accounts do not have access to trading by default but have access to all Account Management functions.
Margin Cash and Margin are available. Each sub account is individually margined..

Family Office Accounts

Client Description An individual who is a Family Office Manager.
Account Description Master account linked to multiple client accounts.
Client Markups % of equity, flat fee, % of P&L, fee per trade, and manual billing.
Trading Access & Account Management Family Office Manager can access some or all accounts or functions. Client users can trade and directly fund and view statements.
Margin Cash and Margin are available. Each client account is individually margined.
Pre-Trade Allocations Family Office Manager can pre-trade allocate account %, % of equity, or % of positions.

Small Business Accounts

Client Description A small business corporation, partnership, limited liability company or unincorporated legal structure.
Account Description A single account which holds assets owned by the entity account holder.
Trading Access & Account Management Users can be configured to have some or all trading and Account Management functions.
Margin Cash and Margin are available.

Advisor Accounts

Client Description An Organization Registered Advisor that manages both client administration (Wealth Management) and the client's money (Money Management).
Account Description A master account linked to individual or organization client accounts.The master account is used for fee collection and trade allocations. The advisor can open a single account for his or her own trading. The account can be white branded with the advisor's corporate identity.
Client Markups % of equity, flat fee, % of P&L, fee per trade, and manual billing.
Trading Access & Account Management The advisor has access to trading and most Account Management functions. Organization Advisors can have multiple users, each with access to different functions and jurisdiction over different client accounts. By default, client do not have access to trading, but client trading can be enabled. Clients have access to all Account Management functions.
Margin Cash and Margin are available. Each client account is individually margined.
Pre-Trade Allocations Advisor(s) can pre-trade allocate cleared trades by account %, % of equity, or % of positions.
Multiple Tiers Advisors have the ability to add an Advisor account with clients, a Multiple Hedge Fund account with fund or SMA accounts, or a Separate Trading Limit account (STL) under the master account.

Money Manager Accounts

Client Description An Individual or Organization Registered Advisor that is hired on behalf of another advisor (Wealth Manager) to manage some or all of their client's money.
Account Description A new separate client account is opened for any client for whom a Money Manager manages money. Money Managers can manage money across multiple advisors (Wealth Managers) and their clients.
Client Markups % of equity, flat fee, % of P&L, fee per trade, and manual billing, set by the advisor (Wealth Manager).
Trading Access & Account Management The Money Manager has access to trading only. Assets are moved to the Money Manager client account by the Advisor (Wealth Manager). Organization Money Managers can have multiple trading users, each with jurisdiction over different client accounts.
Margin The Money Manage client account inherits the margin type from the client's Wealth Manager client account. The Wealth Manager and Money Manager client accounts are margined separately.
Pre-Trade Allocations Same as Advisors
Multiple Tiers Not available.

Broker & FCM Accounts

Fully Disclosed
Client Description A Registered Broker or FCM that provides marketing and advice to clients. We provide all other functions, including client registration, trade execution/clearing and reporting.
Account Description A master account linked to an individual or organization client accounts. The master account is used for fee collection. The broker can open a single proprietary trading account. The account can be white branded with the broker's corporate identity.
Client Markups Fee per trade.
Trading Access & Account Management The broker has access most Account Management functions. Brokers can have multiple users, each with access to different functions and jurisdiction over different client accounts. Clients have access to all trading and Account Management functions.
Margin Cash and Margin are available. Each client account is individually margined.
Pre-Trade Allocations Not Available.
Multiple Tiers Brokers have the ability to add an Advisor account with clients, a Multiple Hedge Fund account with fund or SMA accounts, or a Separate Trading Limit account (STL) under the master account.

Proprietary Trading Group Accounts

Pool Separate Trading Limit
Client Description A corporation, partnership, limited liability company or unincorporated legal structure. Same as Pool.
Account Description Single account which holds assets owned by the entity account holder. Multiple, linked accounts all in the name of a single entity. Assets in all accounts are owned by the entity account holder. Each account has its own trading limits and can have its own trading strategy.
Trading Access & Account Management One or more users. Users can be configures to have some or all trading and Account Management functions. Master user(s) are designated and can be configured to have some or all trading and Account Management functions. Sub account users only access to their single account functions.
Margin Cash and Margin are available. Cash and Margin are available. At trade initiation, each sub account is margined separately. For maintenance and liquidation purposes, all accounts are consolidated.

Hedge & Mutual Fund Accounts

Single Multiple Allocation (Give-Up)
Client Description A single fund managed by an investment manager. Multiple funds managed by an investment manager. Multiple co-mingled funds managed by an investment manager. Investment manager maintains individual fund activity function separately or gives up to a third-party prime broker.
Account Description A single account with one or more users. Configuring authorized trader sub accounts adds the ability to maintain multiple sub accounts for different strategies. A master fund admin account linked to multiple individual fund accounts. The master account is used for trade allocations. Individual client accounts can also be opened under the master account. A single allocation account for trade executions that allows for end of day give-up of trades to accounts at third-party prime brokers.
Client Markups Soft Dollars for five different commission tiers available. Same as Single Fund. Same as Single Fund.
Trading Access & Account Management Users can be configured to have some or all trading and Account Management functions. Master fund admin users have access to some or all funds or functions. Each fund can have its own set of users with access to some or all Account Management Functions. Fund investment manager(s) has access to some or all functions.
Margin Cash and Margin are available. Cash and Margin are available. Each fund account is individually margined. Cash and Margin are available. All fund trades are consolidated and margined together.
Pre-Trade Allocations Not Available. Master fund admin users can pre-trade allocate by account %, % of equity, or % of positions. Not Available.
Multiple Tiers Not Available Investment manager has the ability to add an Advisor account with clients, a Multiple Hedge Fund account with fund or SMA accounts, or a Separate Trading Limit account (STL) under the master account. Same as Fully Disclosed Broker.

Compliance Officers

EmployeeTrack
Client Description Any organization that needs to monitor all or some of their employees' trading activity.
Account Description A single account linked to multiple individual and joint employee accounts for the purpose of monitoring their trading activity.
Trading Access & Account Management Trading is completely controlled by the broker employee with Compliance access to trade activity.
Margin Not applicable.

Administrators

Client Description Any organization that provides third-party administrative services to other institution accounts. The services offered by such an organization might include auditing, accounting and legal counsel.
Account Description A single account linked to multiple Advisor, Single or Multiple Hedge Fund, and Proprietary Trading Group accounts for the purpose of providing reporting and other administrative functions to one or more client, fund or sub accounts.
Trading Access & Account Management An Administrator cannot trade and has no access to IB trading platforms. An Administrator logs into Account Management once to perform reporting functions for the multiple client, fund and sub accounts to which he or she is assigned.
Margin Not Applicable.