Interactive Brokers Wiki

What are the advantages and disadvantages of buying stocks, ETFs and other instruments through Interactive Brokers? In this article you will find a comprehensive review about this broker. At the same time, in this article you can also find instructions on how to open an account, how to close orders in Interactive Brokers, and how to activate settings that are especially beneficial for Slovaks and Czechs.

What is the biggest advantage of Interactive Brokers (IB)? That we, as Slovaks and Czechs, can open up to them.
In July 2021, there was a change in IB fees. Interactive Brokers has eliminated the Activity Fee, which was a monthly fee of $10 per month. Today, Interactive Brokers is one of the most advantageous brokers with which Slovaks, Czechs and Europeans can open an account (buying shares or ETFs usually costs up to 2 Euros per transaction)

In this article, you will find a detailed review for Interactive Brokers as well as instructions and sub-instructions for this broker.

Tip: This guide is longer and comprehensive. You'll want to come back to it occasionally. Therefore, you can save it and read it several times .

Tips for specialized IB articles (Sub-guides)

Interactive content

A basic comparison of Interactive Brokers versus the competition

From our point of view, Interactive Brokers has long been one of the best brokers for buying shares and ETFs, if the client wants to buy shares or ETFs for at least €100 per trade. At the same time, it is suitable for people who want to trade Indices, Commodities, FOREX, options, investment certificates or other financial derivatives with or without leverage. At the same time, this broker is also suitable for automated trading.

From our point of view, most Slovaks today, when looking for a broker, choose a broker from the trio of XTB, Lynx and Interactive Brokers.

Do you want to find out if a broker other than Interactive Brokers is more beneficial for you?

Check out our big broker comparison. In it, we compare Interactive Brokers, Lynx, Etoro, Fio, Degiro, Revolut, Finax and EIC. At the same time, we also have an article where we directly compare Interactive Brokers, Lynx and XTB.

This article also contains two sub-guides

Interactive Brokers Logo

Who is Interactive Brokers (IB) for?

IB is suitable for anyone who knows English. From the point of view of the price of transactions (Purchase and sale of securities), Interactive Brokers is one of the low-cost and interesting brokers.

Interactive Brokers is a large international giant that came to Slovakia, therefore most Slovak or smaller European companies cannot compete with it either in terms of security or fees.

Advantages of IB in a nutshell

Disadvantages of IB in a nutshell

Why don't you see Interactive Brokers in ads and broker comparisons?

How is it possible that we have never seen an advertisement for Interactive Brokers on Slovenská TV, we have not seen an advertisement for it on the Internet, and it is usually missing in comparisons of stock brokers. You may be wondering: Is Interactive Brokers even safe when they don't write about it anywhere?

Reasons why IB is not in the comparisons

How Interactive Brokers is promoted

How Interactive Brokers and Lynx differ

The Interactive Brokers system is robust and allows, among other things, to "repaint your system" and provide it to other brokers under their own brand. Brokers who use most of the IB system are called Introducing Brokers. The most famous of these introducing brokers in Slovakia is Lynx. Therefore, the Lynx system contains an almost complete IB platform.

If you register an account in Lynx

Fees - The biggest difference between Lynx and Interactive Brokers

Other differences

When does Lynx pay and when does Interactive Brokers pay off?

Can I register Interactive Brokers if I have Lynx?

( First prerequisite for Interactive Brokers – Not having a Lynx account )

If you have a Lynx account, you may be denied account registration with Interactive Brokers. Lynx, as a broker using the IB platform, has set the conditions so that if you want to open an Interactive Brokers account, you can register it up to 6 months after canceling the Lynx account.

If you want to have a Lynx and Interactive Brokers account at the same time, I recommend:

If IB detects that you also have a Lynx account, you may receive the following email:

Interactive Brokers Cancellation for Lynx

Interactive Brokers Security and Guarantees

We would divide the guarantees of this broker into three parts

Interactive Brokers offers one of the highest security that a broker can offer

Guarantees of the states of the broker's seat

Interactive Brokers is regulated by the highest financial authorities of various states such as

Interactive Brokers has several stockbroker licenses in the European Union, namely IBIR (IB Ireland), IBLU (IB Luxembourg) and IBCE (IB Central Europe in Hungary). In case of IB bankruptcy, you will receive state guarantees depending on which IB branch you will have an account with. Slovaks only have an account in IBIR (Ireland).

There are guarantees in case of bankruptcy of the broker

Please note that Interactive Brokers is a very large international broker with a relatively low probability of bankruptcy (Described in points below). If Interactive Brokers gets into trouble, it will likely be because many other banks and later states will also be in trouble. In the event that the entire financial system collapses and states have problems, clients will probably only have these state guarantees on paper.

Guarantees of a broker as a securities trader

Did you know that even with the standard license of the Securities Dealer (OCP) for the Slovak OCP, the broker needs to keep his own money separate from the client's money? Therefore, if a Slovak owns a bond, his security is deposited with a depository (usually a bank) and the broker can buy, sell, hold and charge fees to the client, but cannot appropriate his bond deposited with the depository.

Interactive Brokers takes this protection even further

You can see the details here. The article concerns the UK branch of Interactive Brokers. A similar article will probably be created for clients in the IBIR branch.

Other Interactive Brokers Guarantees

Business guarantees include, for example

Sustainability of the broker

If you are interested, I recommend to look at Interactive Brokers stock on Google (Ticker IBKR) and also look at the IB brokers page for investors.

https://investors.interactivebrokers.com/ir/main.php

Interactive Brokers minimum deposit

Interactive Brokers offers two types of accounts - Cash and Margin

For a Cash account:

For Margin account :

Interactive Brokers Fees

IB offers standard clients to choose between two types of transaction fee system - Tiered and Fixed commissions.

Fixed / Tiered Commissions

For most clients investing in smaller amounts, we recommend Tiered Commissions, as they have a smaller minimum transaction fee (each purchase / sale of a security). In practice, the purchase of US shares for 1000 USD will cost approximately 1 USD, the purchase of EUR shares up to 2 EUR.

GOLD TIP: set up TIERED FEES at Interactive Brokers

Attention, Fixed fees are preset for new accounts. Therefore, we recommend changing them to Tiered immediately after registering an account. You can also change the Fixed / Tiered fee scheme in the Interactive Brokers account settings.

Tiered commissions

Fixed Commissions

Currency conversion fees

When converting currency, your fee consists of two parts

The difference between changing the currency Cash vs. Margin account

The cash account has automatic currency conversion , when every purchase is automatically converted to the Forex rate in your chosen domestic currency (EUR, CZK, USD). The Forex rate in IB is an interbank exchange rate with almost no surcharge (You only pay a low spread fee). Therefore, even if you are buying USD shares, you are buying them in EUR, and you can exchange currency almost free of charge.

The margin account has separate sub-accounts for each currency . Therefore, in IB you pay a minimum fee for currency conversion of 2 EUR + a smaller fee from the amount of money. In short, €2 extra per transaction compared to a cash account. If you exchange more than €200, the €2 fee becomes negligible.

However, beware of imbalances in your IB accounts, where you have excess money in one currency and lack in another, so you will pay a fee for borrowing money. For example you can have 2000 EUR in IB, you buy shares for 2000 USD, you forget to change the money and it happens that your USD balance is -2000 USD. Then the IB asks for the annual interest (fee, Margin) for borrowing this -2000 USD.

IB uses the FOREX market when changing currency and can provide favorable exchange rates. When changing the amount of about €1000, the fee for changing the currency is around 2.5 USD for a Margin account and around 0.5 USD for a cash account.

Therefore, as an Interactive Brokers client, your total fee for changing currency is low, so you have no reason to deal with another money change using, for example, Revolut or Transferwise

For comparison, if you use the services of Slovak banks to change 1000 EUR to USD, according to their exchange rates, the surcharge for changing the currency will be in the range of 1.5% to 2.5%, i.e. for changing 1000€ you will pay on average around 20€

If you want to buy American stocks and have a margin account, you can change a larger amount of Euros to Dollars at once and buy several American companies with them. Alternatively, do it the other way around, first buy USD shares and then settle the USD debt by swapping to EUR, leaving only a small uninvested USD balance

Archive: What was the Activity Fee

The Activity Fee was like a prepaid credit of $10 per month that you either used to pay transaction fees or forfeited and deducted from your account. The Activity Fee was canceled as of June 1, 2021.

There were also exceptions to the Activity Fee, for example:

What was the significance of the Activity Fee for Interactive Brokers

Interactive Brokers' decision was that they didn't want to have a lot of small clients. That's why they decided to introduce an Activity Fee.

Benefits of canceling the Activity Fee

Disadvantages of canceling the Activity Fee


IB specialty - Account for every currency and advantageous currency conversion

From our point of view, Interactive Brokers has a very good currency exchange system for both Cash and Margin accounts.

When registering with Interactive Brokers, you determine the base currency of the account (For Slovaks usually Euro, for Czechs CZK).

If you only have Euros in your account, you can buy stocks, ETFs and other securities with Euros only

If you want to buy shares in another currency (for example American or Czech shares), you need to exchange your home currency for another. With such a change, a sub-account for the given currency is automatically created in IB (Margin account) or the money is automatically exchanged for your Forex rate (Cash account).

There is a difference between Margin and Cash account in Interactive Brokers

Margin account: The creation of an IB sub-account for a new currency is automatic

You simply change your money from EUR to USD and a sub-account in USD is automatically created for you. You can buy US stocks and ETF funds with your new USD. The same applies to CZK, PLN, or any other currency

Within the IB Margin account, you can also have many sub-accounts with different currencies.

Cash account: IB uses automatic currency conversion

Choose your home currency (e.g. EUR or CZK). Then all your deposits will be converted to your home currency. If you buy USD shares, IB will use automatic currency conversion and exchange your money at a favorable Forex interbank rate with almost no markup. Therefore, with a cash account, you do not settle sub-accounts, but only settle the account in your home currency. It is easier for beginners.

Is it worth changing the currency at Interactive Brokers or elsewhere?

We recommend currency exchange directly at Interactive Brokers. Systems such as Revolut or Transferwise will not pay you very much (You will save the minimum). We definitely do not recommend changing the currency at the bank, this method is the most expensive.

Tip on how to find out currency exchange fees:

You want to change EUR to USD. Therefore, first change, for example, 1000 EUR to USD, then change the same amount in USD back to Euros. Then you will find out in practice how much the transfer costs you.

Interactive Brokers has a fixed fee of USD 2 for changing the currency on the margin account, and it changes the currency at the Forex rate with almost no markup.

With a Cash account, you can automatically change the currency and exchange money with a Forex rate at almost no surcharge.

Comparison of currency conversion fees

Example:

I have €10,000 in my IB account, I will buy a European ETF for €6,000. I will change the remaining €4,000 to USD. I can use these dollars in the account to buy US stocks and other securities denominated in USD.

Currency conversion usually costs a little more than $2.

Recommendation:

Taxation of dividends - advantage of Interactive Brokers

With brokers, you usually trade either

Every country has different tax laws. At the same time, many countries have cross-signed agreements on the avoidance of double taxation. Altogether, there are dozens to hundreds of exceptions. If a broker wants to offer lower dividend taxation, he must provably distinguish which of his sub-accounts belongs to a citizen of which country. Complying with these regulations costs money, so the broker often does not have the ability to ensure effective taxation of dividends and taxes them at a higher rate.

Many brokers will start taxing US stocks at only 15% tax instead of 30% via the W8-Ben form. This form applies to US stocks only.

Dividend tax hell in the European Union

EU countries are different. Every country has a different tax system. Therefore, if you want to buy Czech shares, you may be unpleasantly surprised that the dividend tax rate for Czech shares is up to 35%, while the normal rate is 15%. It is similar with Polish, Hungarian or other EU actions. Therefore, in some cases, due to better taxation of dividends, you may be a more advantageous local broker (For example, Czech shares through Fio. You can buy them for 8 EUR, but you have a lower dividend tax rate of 15% and maybe only a SK dividend tax rate of 7%. In Interactive Brokers you can buy them for up to EUR 2, but you will pay a rate of 35% from the dividend of Czech shares. Therefore, calculate what is worth it to you)

Interactive Brokers Tax Rates by State

If the owners of IB accounts own shares, Interactive Brokers deducts tax from the clients when paying dividends from the given shares.
The list of selected countries and withholding tax rates is given below:

Taxation of US dividends:

EU countries:

Conclusion: Interactive Brokers usually has a convenient dividend tax system for most of the world, so you often pay the lowest possible tax rate.

IB specialty – Smart Routing and IBIS own exchange of Interactive Brokers

Securities in IB can be purchased through many different exchanges. The specifics of IB are the IBIS exchange and Smart Routing technology.
Conventional brokers usually offer stocks and ETFs from only a few exchanges in the world. Interactive Brokers is different. It offers actions from tens and hundreds of different stock exchanges of the world. It often happens that the same share is traded on several exchanges, even at different prices. That's why Interactive Brokers takes advantage of this and uses the Smart Routing system for stocks and ETFs

What is the IBIS exchange?

Thanks to IB Smart Routing, you can buy shares and ETFs on the cheapest exchange at the best price

TIP: IBIS is Interactive Brokers' own exchange that fully supports SmartRouting

This is especially true for large technology companies, as they are traded on many stock exchanges around the world. If you decide to buy, for example, Microsoft shares for USD, IB will look at which exchanges this share is traded in USD and where it is the cheapest. So, to my surprise, I bought my first Microsoft shares in USD through Iceland.

Therefore, if you buy shares in USD, for example, you can sell them on any other exchange in the same currency (that is, in USD).

Be careful, however, if you buy a share traded in EUR, you can no longer sell it in USD or another currency.

The largest exchanges available at Interactive Brokers

US stock exchange

EU stock exchanges

EU exchanges that are not in IB

Other stock exchanges of the world

Interactive Brokers enables the purchase of financial instruments on more than 100 exchanges in the world. You can find the entire list at the link below

https://www.interactivebrokers.com/en/index.php?f=1562&p=north_america

TIP for beginners: Choose the IBIS exchange. It is usually the most advantageous

Cash or Margin account in IB

When trading securities, you have the option of using only your own money, or you also have the option of borrowing other people's money. That's why IB has a basic Cash or Margin account

Cash account

Margin account

TIP: You can later switch from a Cash account to a Margin account
(Especially when you learn to work with the IB platform and you will not be in danger of using leverage out of ignorance)

IB specialty - Stock Yield Enhancement Program

If you have an account in IB worth at least 50,000 USD, you can join the Stock Yield Enhancement Program. Thanks to this program, external third-party companies can borrow "your stocks and ETFs" for short-term trading. With this program, you cannot lose your shares and "lose them". On the contrary, you can get extra appreciation for renting them out.

When using this program, it can sometimes happen that your shares are borrowed during the dividend payment date and you will receive Dividend in Lieu money instead of an official dividend. With this dividend, you get your dividend paid not by the company whose shares you own, but by a third party. Therefore, this dividend is subject to different types of taxation.

According to IB statements, they always try to eliminate that their clients receive Dividend in Lieu (PIL dividend).

From our point of view, it is worth participating in the Stock Yield Enhancement Program. If your IB account value is less than USD 50,000, this program is automatically disabled. You can change your participation in this program in the IB account settings

More information about the Stock Yield Enhancement Program

Link: https://ibkr.info/node/1838

More information about Dividend in Lieu

Link: https://ibkr.info/article/2713

IB Specialty - Cash Yield Enhancement Program (Earn Interest on Cash)

Earn Interest on Cash (Formerly Cash Yield Enhanced program) allows you to earn your funds at Interactive Brokers. The interest in IB is derived from the standard interest rates of the central banks in the given currency. The interest rate is usually a bit more favorable than in the bank.
The standard conditions of the automatic program are:

https://www.interactivebrokers.ie/en/accounts/fees/pricing-interest-rates.php

Choosing an Interactive Brokers branch

Interactive Brokers owns branches in several countries. In Europe, we meet with branches of IBUK (Great Britain), IBIR (Ireland), IBCE (Hungary) and IBLU (Luxembourg). The main reason why IB has up to 4 different branches in Europe is EU regulations. Each EU country has slightly different legislation. Some EU countries resemble tax havens (for example Ireland, Cyprus or Hungary).

IBIE branch (Ireland): It is currently the main branch of Interactive Brokers for all clients in the European Union

IBUK branch (Great Britain): Until 2020, most IB clients were under the IBUK branch, because Great Britain was still a member of the European Union and Interactive Brokers could use the broker's international passport and thus open accounts with any citizen of the European Union with a branch in the UK. On 1 January 2021, Brexit took place, and the hardest Brexit concerned financial companies. That's why Interactive Brokers created new branches IBCE and IBIR. The reason why there are currently three IB branches in the EU is from our point of view

IBCE branch (Hungary): This branch in Hungary is being phased out from 08/2024. All clients had the opportunity simply, with a few clicks, to transfer to IBIE (Ireland), i.e. to the main branch of IB in the European Union. The reasons for the cancellation of the IBCE branch from BlueNumbers' point of view are mainly the targeting of the IBCE branch for clients in Central Europe, Ukraine, and Russia. Thanks to the Russia-Ukraine war, from 2022 sanctions on Russia and in the direction of Russia have also increased. As a result, most foreign investors lost their ownership of Russian stocks. As IB can no longer serve clients from Russia due to sanctions, it has decided to gradually cancel the branch in Hungary (IBCE) and move all clients to Ireland. IB will thus significantly save on administrative costs.

IBLU branch (Luxembourg): Currently inactive. Luxembourg used to be a well-known financial center, but today it is losing the benefits of a tax haven and financial companies are moving to other countries

Usually, the client does not have the opportunity to choose under which branch he will be registered. A European citizen automatically comes under the IBIR branch (Ireland). According to his broker's branch, he is covered by Interactive Brokers bankruptcy guarantees (This section is described above in the Broker Security section).

IB specialty - APIs and connections for automated trading

If you are going to trade stocks using automations and trading robots, you will probably be using the IB platform. They offer suitable APIs and data sources necessary for robo trading.

IBKR Lite vs. IBKR PRO

IBKR PRO is a standard Interactive Brokers account for Europeans (including Slovaks). From 6/2021, you do not pay the Activity Fee on IBKR PRO.

IBKR Lite is a free account for clients from the US and India, as a direct competitor to the Robinhood broker. With IBKR Lite, you can trade shares and ETF funds commission-free, with no minimum required deposit and no Activity Fee. However, neither Europeans nor Slovaks can open this account, and there is no point in opening it anymore, since the main advantage of IBKR Lite has been lost - no Activity Fee and IBKR Pro fees for buying shares are very low.

Interactive Brokers specialty - suitable for corporate investing

If you want to invest company money, for example from an s.r.o. or a.s. environment using trading on your own account, Interactive Brokers will be your first choice.

Investing in the stock market through a legal entity is completely different from investing through a natural person. With a legal entity, you cannot use the time test, on the other hand, you can use various tax and accounting optimizations. For example, one of them is to use the investment in shares as a tax expense.

Investing through an s.r.o. is mainly about equipment for paperwork, accounting, tax consulting and tax optimization.

Therefore, if you want to invest company money, our VIP services for entrepreneurs can be very interesting. We can bring you investment-tax-accounting advice on how to better evaluate your company money, get more favorable special types of company loans or get other benefits for entrepreneurs. It's like having an accounting, tax and investment advisor in one person. Savings can be in the thousands of EUR.

Open an account in IB if I am a beginner and want to start investing with a small amount of money?

Choosing a broker and his fees are only half of investing. The other half is education, your experience and understanding of how the market behaves. Therefore, if you are a complete beginner and just want to try investing, you may be interested in having an account with, for example, broker XTB for education in Slovak / Czech, or Etoro because you can also buy fractional shares in it for a few tens of Euros. When you want to evaluate an amount less than 500 Euros, I recommend not looking only at your profit. If you earn even 10% per year, with an account value of 500 Euros, it will be a profit of only 50 Euros. Much more important are your experience, patience, adherence to your strategy and managing panic in case of market declines.

Nothing prevents you from opening multiple accounts with different brokers for the sake of education and gaining experience.

Our guess is that you will have the majority of funds in Interactive Brokers and other broker accounts will only be "auxiliary"

If you are interested in learning more about investing, take a look

In this section, you will find practical advice on how to proceed when setting up an Interactive Brokers account. When opening an IB account, you can use the Interactive Brokers referral bonus.

How to find the number of recommended accounts within IB

Instructions in steps

How to find, how many friends you have referred to Interactive Brokers

Option to try Interactive Brokers Demo account

With this Demo account, you can see how well you know Interactive Brokers, as well as find out the fees for buying different stocks from different countries. I recommend creating a Demo account via the link

What to watch out for when registering an IB account

We recommend during registration

When registering an account, you will need to enter

We recommend that you see the picture instructions for registering an Interactive Brokers account

This guide can help you deposit money into IB

First steps after logging into Interactive Brokers account

You have created an account in IB, and it has been approved. After logging in, you will see the main screen of your Interactive Brokers account.

Interactive Brokers window after logging in

Interactive Brokers account settings can be found as follows:

Attractive Brokers location of Menu

After unpacking, you will see quite a lot of options, views and settings in the menu. There is no need to be scared, you will get used to them quickly. You won't use much of this menu for a very long time.

How to buy your first stocks and ETFs at Interactive Brokers

The basis is to deposit the first money in Interactive Brokers. We recommend following this guide

How to understand and enter a purchase order in IB

If you want to buy your first stocks and ETFs, look for the ticker or ISIN code of your security through the magnifying glass. If you find it, you can look at the charts to see if you are seeing the right action

Once you have selected a particular stock, click on Buy / Sell and a shopping menu will open on the right.

In this menu you will find

Interactive Brokers Set Order Guide

Determination of Order Type

Interactive Brokers is a platform for professional traders. Therefore, it also allows conditional orders, i.e. buy a share if the condition is met and, for example, the price will be a maximum of xy Eur.

At the same time, it must be remembered that the shares of companies move, that is, they rise or fall. That's why some traders want to buy a share at a lower than standard price (buy with a discount). And that's exactly what the different types of commands below are for

Types of Order Type orders

Interactive Brokers also allows other types of conditional orders for traders. If you are an ordinary person who wants to buy and hold stocks for the long term, we recommend MidPrice, Limit and Market orders.

Interactive Brokers Types of Orders Limit, Market, MidPrice, Market on Close

What does Time-In-Force mean

What does Outside RTH mean?

Interactive Brokers Buying Outside RTH Trading Hours

Profit Taker and Stop Loss

Interactive Brokers Profit Taker and Stop Loss

Order entry and Preview function

Interactive Brokers Sales Order Preview

Currency exchange at Interactive Brokers

Look for the Transfer & Pay section in the menu and in it Tranfer Funds .

Then select the Convert Currency section and select the type and amount of currency you want to change.

If you are changing a new currency for the first time, a sub-account with the new currency will be created for you immediately, with which you can buy new shares. Changing currency in Interactive Brokers is convenient, so you often have no reason to deal with currency changes externally outside of IB.

When changing currency, always click the Preview button to see your conversion fees.

Below in 4 screenshots you will find a short guide to changing the currency. You can find the detailed system in the article below

Interactive Brokers Deposit or Withdrawal
Interactive Brokers Changing Currency Guide
Interactive Brokers Changing Currency Conversion

Change of fees from Fixed to Tiered

If you accidentally clicked on Fixed Fees when signing up, you may be surprised at how expensive Interactive Brokers is. Therefore, I recommend changing the fees from Fixed to Tiered according to the instructions below.

Click through to Account Settings as shown in the image below

Interactive Brokers Account Settings Menu Location

You can find the IBKR Pricing Plan in the settings

Interactive Brokers Location Tiered Fixed Pricing Fee

You change the type of fees from Fixed to Tiered

Interactive Brokers Tiered Fixed Fees Location

How to activate the purchase of fractional shares

You can also buy fractional shares at Interactive Brokers. It is especially interesting when buying more expensive companies such as Amazon or Tesla.

You can activate the purchase of only fractional / fractional US shares

You need to buy European stocks and ETFs in whole units

You need to activate fractional share trading.

Instructions for activation:

What to do when you can't trade stocks, bonds, options, ETFs

You can trade instruments in IB only if you meet EU regulations and write that you have enough experience to trade them. Therefore, find the Account Settings section again as in the chapter above. This time you will scroll down and you will find the Trading Experience & Permissions section.

You fill in your experience with the instruments you want to trade. If you complete your experience and meet the minimum requirements needed to trade these instruments, these instruments will be unlocked for you and you will be able to trade them.

Interactive Brokers Setting Stocks Bonds ETF trading permissions

Opening a sub-account to an existing account in Interactive Brokers

You can also open additional sub-accounts for the IB account. You can use sub-accounts, for example, when you need to create separate accounts for your family members or children. Again, you are the primary administrator of these accounts as well, and this account is yours for tax purposes.

Procedure:

  1. Log in to IB under your account
  2. Find the character icon (at the very top corner) and click on manage account
  3. On the manage account tab, find the Configuration section (left column)
  4. In the Configuration section, click Open Additional Account
  5. Then choose to create a New brokerage account and then an Individual Account
  6. You fill out a similar application as when registering an Interactive Brokers account for the first time. However, this application is significantly shorter because a lot of data is copied from your first IB account
  7. After approval, you will be able to switch between your IB accounts

Step 2:

Interactive Brokers Changing Between More Accounts

Step 3 and 4:

Interactive Brokers Opening New Second Account

Export of transactions from IB / Lynx for tax reporting purposes

You will definitely need a statement of transactions and portfolio in Interactive Brokers, for example, in situations

BREXIT and statements from Interactive Brokers and Lynx

If you had IB or Lynx even before Brexit (ie in 2020), and subsequently agreed to migrate to a new country, you will have a new account number in Interactive Brokers / Lynx. Therefore, for the needs of a statement of transactions for the past year, you need to view the history of your original account as well.

A typical mistake people make is that they look at the history of their migrated account and see nothing there. They don't know they need to switch to their old IB / Lynx account.

To obtain a tax statement, we recommend following this Lynx guide (IB has the same)

Login to IB via multiple devices

Most people will have Interactive Brokers as an app on their mobile. You will probably mainly trade through a computer web browser (You can see better charts). You can view your account simultaneously on several devices . At the same time, only one of your devices has the right to trade. Therefore, if you want to trade, choose the device through which you want to trade.

At the same time, if you need, you can set up multiple users for one account in IB, while each user has different login data and password.

Interactive Brokers Settings Add More Users for One Account

Detailed instructions for Interactive Brokers belonging to this page

How to get your special questions answered

Surely, while reading the article or later, you have come up with questions to which you still cannot get an answer.

You can find the answers in the articles:

Ask your questions in our Facebook group

BlueNumbers free bonus:

You can also write your questions as a comment under this article

If you have a question and want to contact us directly, write to us.

During paid consultations, you can get answers and support, such as:

BlueNumbers bonuses when opening an Interactive Brokers account

Referral notices

BlueNumbers tips for the referral link

How to find the number of recommended accounts within IB

Instructions in steps

Interactive Brokers Count Referred Friends and Accounts

Do you like this Interesting Brokers Wiki tutorial?

You can assist us by sharing this article with your friends and other people who are looking for such a guide.

BlueNumbers articles are spread mainly by your referrals and your sharing.

Thanks to your support, we can add new and interesting articles to the portal and provide them free of charge

Warning: Investing in the financial markets involves risks. Your total loss may exceed your total deposit.

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Tutorials for Interactive Brokers

Parts of the Stocks and ETFs investment series

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