External Fees


BondDesk Fees

DESCRIPTIONADD LIQUIDITY 1REMOVE LIQUIDITY 2
Agencies
< 12 months to maturityUSD 0.10 per bondUSD 0 per trade
12 - 24 months to maturityUSD 0.25 per bondUSD 0 per trade
> 24 months to maturityUSD 0.50 per bondUSD 0 per trade
Treasuries
< 12 months to maturityUSD 0.10 per bondUSD 0 per trade
12 - 24 months to maturityUSD 0.15 per bondUSD 0 per trade
> 24 months to maturityUSD 0.25 per bondUSD 0 per trade
T-billsUSD 2.50 per tradeUSD 0 per trade
Corporate 0-99 bonds
< 6 months to maturityUSD 0.25 per bondUSD 0 per trade
7 - 12 months to maturityUSD 0.50 per bondUSD 0 per trade
13 - 24 months to maturityUSD 0.75 per bondUSD 0 per trade
> 24 months to maturityUSD 1.00 per bondUSD 0 per trade
Corporate 100-249 bonds
< 6 months to maturityUSD 0.19 per bondUSD 0 per trade
7 - 12 months to maturityUSD 0.38 per bondUSD 0 per trade
13 - 24 months to maturityUSD 0.56 per bondUSD 0 per trade
> 24 months to maturityUSD 0.75 per bondUSD 0 per trade
Corporate 250 + bonds
< 6 months to maturityUSD 0.13 per bondUSD 0 per trade
7 - 12 months to maturityUSD 0.25 per bondUSD 0 per trade
13 - 24 months to maturityUSD 0.38 per bondUSD 0 per trade
> 24 months to maturityUSD 0.50 per bondUSD 0 per trade

Notes:

  1. Adding an order to an exchange or ECN’s order book before being executed.
  2. Orders that are immediately executed against an existing bid or offer on an exchange’s or ECN’s order book.

ATS Bond Fees.

ESCRIPTIONADD LIQUIDITY 1REMOVE LIQUIDITY 2
BondsUSD 0.00USD 0.00

Notes:

  1. Adding an order to an exchange or ECN’s order book before being executed.
  2. Orders that are immediately executed against an existing bid or offer on an exchange’s or ECN’s order book.


TWS Desktop

Desktop TWS

Our flagship platform designed for active traders and investors who trade multiple products and require power and flexibility, TWS includes all of our most advanced algos and trading tools, and offers a library of tool- and asset-based trading layouts for total customization.

Typically used by:

Traders and investors who want to take advantage of the full IUR offering, especially high-volume, global traders and those who require in-depth news, technical research and risk analysis tools.



Our real-time monitoring system lets you see the current state of your account at any time to give you the edge you need in changing market conditions.

Account Window

View account balances, margin, funds available for trading, market value and portfolio data for all of your products in the customizable, easy-to-read Account window.

Margin Requirements

Stay on top of your margin requirements with quick-glance summaries of potential deficiencies that help you avoid liquidation, and try “what if” Portfolio Margining to see your margin requirements using the Portfolio Margining system.

Trades

See daily executions as well as net trading activity by symbol in our expandable trade reports.

Watchlists

Create Watchlists to monitor real-time market quotes based on your market data subscriptions. Create, resize and move multiple named Watchlist windows to fit your own trading style.

Alerts

Create real-time alerts based on price, time, margin and volume that notify you of important changes in the market.

Profit and Loss

View P&L on your trading screen and in the Account window.


Our sophisticated risk-assessment technology helps you manage your risk in a dynamic market.Û

TWS Risk Navigator

The TWS Risk Navigator is a real-time market-risk management platform that provides a comprehensive measure of risk exposure across multiple asset classes around the globe.

Model Navigator

Modify pricing assumptions and include them in the model price calculation using this sophisticated option model pricing tool.

Option Analytics

Use the Option Analytics window to see values that reflect the rate of change of an option’s price with respect to a unit change in each of a number of risk dimensions.


Practice your trading skills in a simulated trading environment with a Paper Trading account. Watch how your strategies play out as you develop, practice and perfect the skills you’ll need to trade without risking any of your own money.

  • Test new strategies, products, exchanges, order types with prices and account values determined by actual market conditions – all without risk.
  • Access essential trading tools – real time charts, executions, market depth, option pricing, price risk analytics and more.
  • Learn market dynamics for new exchanges and products.
  • Access a Paper Account statement every day you trade.
  • Test your IB API (Application Program Interface) trading solutions.

  • The TWS PaperTrader works just like your production account. You can use most IBKR order types, trade all instruments available through the TWS, and experiment with almost every aspect of the TWS platform.
  • The PaperTrader interface clearly indicates that you are working in a simulated account. If you do not see this, you are trading in your production account and will be liable for all trades that fill.
  • Trades entered into this paper trading account will not actually execute on any exchange or settle at a clearing house. However, the price of your executions will be determined by real market prices and sizes.
  • Trading permissions, market data subscriptions, base currency, and other account configurations are the same as specified for your regular account.
  • A paper trading account statement will be provided each day and is available by logging into Account Management with your PaperTrader login and accessing the Reports menu.
  • All clients will start with USD 1,000,000 of paper trading Equity with Loan Value, and this equity will fluctuate as if the trades had executed in the real market.
  • You may reset your cash equity at any time by accessing Account Management for your paper trading account and selecting the Trade menu. Your account will be reset to the greater of either USD 100,000 or five times the total equity of the your production account. Note that reset requests should be entered before 16:00 ET in order to take effect for the next business day.

Although the paper trading account simulates most aspects of a production TWS account, you may encounter some differences due to its construction as a simulator with no execution or clearing abilities. These differences include but are not limited to:

  • No support for some order types including: Passive Relative, Auction, RFQ, and Pegged to Market.
  • Fills are simulated from the top of the book; no deep book access.
  • Limited combo and EFP trading.
  • Stops and other complex order types are always simulated in paper trading; this may result in slightly different behavior from a TWS production account.
  • Penny trading for US Options is not supported. You will be able to submit the order but it will not receive a penny fill.
  • The trade simulator will reject the remainder of any exchange-directed market order that partially executes. This may or may not match behavior of a real-world exchange. Market orders received while there is no quote on the opposite side will be held until the market data arrives (i.e. until the first partial fill).
  • Mutual Fund trading is not supported in a paper trading account.


Client Portal

Simple and Intuitive

Our new Client Portal homepage provides a streamlined view of your account that includes all of the information you need.

Key Account Metrics at a Glance

Easily see your essential account information such as your Net Liquidation Value, P&L, Buying Power and more – all in real-time.

Portfolio Performance

Effortlessly track your performance with our easy-to-read cumulative and monthly return charts.

Essential Elements. Efficiently Organized.

We’ve assembled all the important information about your account right on the Client Portal home page to make it simple and easy to monitor and trade your account. See your rate of return, portfolio positions, recent transactions, notifications and messages, portfolio and top news, available cash, and more.


All-in-One

Quick Trade

Easily place orders, manage open orders, and view recent trades from any page in the Client Portal with the slide-out trade ticket.

Notifications and FYIs

Quickly see your new messages, notifications, and FYIs, or contact client services with the notification center.

Tools and Services

Use the Tools menu to quickly access everything you need to manage your account such as funding, reporting, position transfers, and more.


Start Here. Go Anywhere.

Access all the tools and features you need to
monitor and manage your account.

Stay connected to what matters and access the key features and services of your IUR Securities account – all in one place and from any device.

Try Client Portal Today

Start Now


Financing


Interest Charged on Margin Loans

When calculating rates, keep in mind that IUR uses a fixed rate based on the below table for each currency.
The fixed rate on which interest is based may change from time to time without prior notification to clients. Such adjustments are done periodically to adjust for changes in currency rates.

When determining the quoted spread, IUR will factor in the rate provided by our clearing firm, who operate a blended interest rate on margin loan. This blended rate is added to our margin loan rate.

IUR accrues interest on a daily basis and posts actual interest monthly on the third business day of the following month.

CurrencyRate
USD3.5% + Clearing Firm Interest

Reference Benchmark Rates

IUR’s benchmark for each currency is the reference rate around which our credit, debit, stock loan and other interest rate linked calculations are determined. IUR uses a combination of internationally recognized reference rates (such as LIBOR and Fed Funds), bank deposit rates, and dynamic interbank rates determined from foreign exchange and money markets to calculate an IUR Reference Benchmark rate.

CurrencyDescription for Effective Date: Rate
USDReference Benchmark USD0.050%

Earn Market Rate Interest on Your Uninvested Cash Balances

Client accounts are eligible to receive credit interest on long settled cash balances in their securities accounts.
Accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more are paid interest at the full rate for which they are eligible.

Interest accrues and is payable daily. IUR posts the interest payments on a monthly basis on the third business day of the following month.

CurrencyRate
USD0%

Calculations

Step 1

At the end of every day, IUR will obtain the following balances in each currency:

  • Ending Settled Cash balance in the securities account segment
  • Ending Settled Cash balance in the commodities account segment
  • Collateral balance for settled short stock positions
  • Ending Settled Cash balance in the clearing segment
  • Commodity risk margin requirement
  • Adjustment For Securities Deficit

The cash balances are reported on the Daily Statement under Ending Settled Cash. The commodity risk margin requirement is the Maintenance Margin Requirement as reported on the daily Margin Report minus the total commodity option value. The AdjustmentForSecuritiesDeficit is calculated as follows:

Minimum(-Minimum(EndingSettledCash_Securities + EndingSettledCash_of seperate clearing segment,0), EndingSettledCash_Commodities – CommodityRiskMargin)

The purpose of the AdjustmentForSecuritiesDeficit is to determine the value of the excess commodities funds which will be used to offset negative balances in any other segment.

The collateral balance per short stock is calculated by multiplying the prior day’s closing price by an adjustment factor based on the currency, rounding this value up, then multiplying by the number of shares.

For example, the collateral balance on a USD-denominated security would be:

Collateral Balance = (stock A prior day closing price x 102%, rounded up to the nearest 1.00) x (number of shares stock A) + (stock B prior day closing price x 102%, rounded up) x (number of shares stock B)

The adjustments utilized by IUR are as follows:

USD-denominated stock – multiply by 102%, round up to nearest 1.00

Step 2

IUR will obtain the USD-equivalent Net Asset Value in the account, consolidating the equity across the combined clearing accounts where possible. The Net Asset Value (NAV) is reflected in the daily account statement under the same name.

For the purposes of crediting interest on either long settled cash balances or short stock collateral values, accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more are paid interest at the full rate for which they are eligible. Accounts with NAV of less than USD 100,000 (or equivalent) receive interest at rates proportional to the size of the account. For example, an account with a NAV of USD 50,000 earns credit interest at a rate equal to one-half the rate paid by IUR to accounts with a NAV of USD 100,000 or more.

For example, if an account holds

  • Settled Long Cash 370,000 EUR
  • Settled Short Cash (370,000) USD

Calculate the USD-equivalent of the EUR balance = 370,000 x 1.2 = 444,000

Calculate the USD NAV = 444,000 – 370,000 = 74,000

As the account would have NAV less than USD 100,000, a proportionate amount of interest would be paid on the long EUR cash balance. Interest would be debited on the short USD cash balance.

Step 3

IUR calculates an Adjusted Cash Balance for the Securities and separate clearing segments as well an Adjusted Cash Balance for the Commodity segment. This is done using the following formula:

AdjustedCashSecurities+separate clearing segment= EndingSettledCash_Securities + AdjustmentForSecuritiesDeficit + EndingSettledCash_ separate clearing segment – ShortStockCollateralValue

AdjustedCashCommodities = EndingSettledCash_Commodities – CommodityRiskMargin – AdjustmentForSecuritiesDeficit

Step 4

IUR will then determine how much of the AdjustedCashSecurities+ separate clearing segment balance should be applied to each rate tier.

Finally, we calculate the interest using the applicable rates.

No interest will be paid on excess funds in the commodities segment (AdjustmentCashCommodities). In the event negative interest rates apply, interest will be charged on long balances in the commodities segment.
The numberOfDaysInYear are based on industry standards for money market activity.

  • 365: AUD, CAD, CNH/CNY, GBP, HKD, KRW, ILS, INR, NZD, RUB, SGD
  • 360: USD, EUR, CHF, CZK, JPY, SEK, NOK, DKK, HUF, MXN
  • 365: USD cash balances held in a Bank Deposit Sweep Program.

Accruals

Accruals will be posted to the applicable account segment as follows:

If the adjusted cash balances of the security, commodity and separate clearing segments are the same sign (i.e. all positive or all negative), the interest will be paid to the securities and separate clearing segments on pro-rata basis while no interest will accrue on the commodity balance. If the cash balances of the security and separate clearing segments are of opposite sign the interest of the Integrated Investment account will accrue to the segment with the higher balance.

The results of the above calculations are booked to a special “Accrued Cash” sub-account, one for each currency. Accrued Cash has the following features and functions:

  • FUNDS FOR TRADING: accrued cash is applied to trading balances, both positively and negatively.
  • WITHDRAWALS: accrued cash does not affect Settled Cash balances and therefore cannot be withdrawn. Positive accrued cash balances do not increase the available funds for withdrawal. However, negative accrued cash will reduce the funds available for withdrawal. This avoids the problem of having closed accounts with negative balances.
  • PATTERN DAY TRADING: accrued cash does not count toward Pattern Day Trading minimum balance requirements.

Each day, the new calculations for accrued interest are added to the cumulative accrued cash balances from the previous day.

Statements: Whenever the balance of accrued cash exceeds USD 1.00 (or equivalent), we will show the accrual on the Daily Statement. Accruals smaller than USD 1.00 are recorded in the IUR systems but are not reported on the statements.

Final Posting

At the end of the month, or within the first few days of the following month, IUR follows these steps:

  1. IUR recalculates all the interest amounts using the calculations above. The new calculation is usually identical to the original cash accruals but may vary by small amounts due to corrections in settled balances or rates.
  2. IUR determines the cumulative accrued cash for the previous month as the sum of the individual days.
  3. IUR reverses this amount in the Accrued Cash sub-account at the beginning of the following month. For example, if the accrued cash balance for July was positive, we apply a debit charge to accrued cash in early August.
  4. Simultaneously, we book the final interest calculation from Step 1 above to the regular cash account. In effect, Steps 3 and 4 above convert “pending cash” to “actual cash.”
  5. These transactions 2 are reported on the Monthly Statement.

Trade Date versus Settlement Date (or Value Date)

In most large financial transactions, there is a time delay between the date on which the transaction is agreed to, and the date on which it settles, i.e., when the actual payment occurs. In the case of stocks (for example US stocks) there is a two-business day settlement period. If the trade is executed on a Monday, under normal settlement conditions the actual transfer of money occurs on Wednesday. If the trade occurs on Thursday, two-business days later crosses the weekend so normal settlement is the following Monday. Exchange and banking holidays the fall within the settlement period will push back the settlement date.

Why is the Settlement Date Important?

Only settled money is considered for interest rate purposes. When one buys stock, one retains the rights to interest on the money until settlement date. Similarly, sellers only start to receive interest beginning on settlement date.

Settlement Dating is generally a minor consideration for stock, option, and future traders. However, due to the large amounts of capital involved, understanding the concept of Settlement Dating is critical to FOREX and fixed income (bond or money market) traders.

Disclosure:

  1. The new accrued cash shown after the above postings may not be zero. The residual balances reflect the continuing accruals for the first days of the current month. For example, if IUR processes the final interest calculation on August 6, Accrued Cash will still show the activity from August 1 through August 6.
  2. Interest will not accrue or be paid to the commodity segment of the account. Both credit and debit interest will accrue and pay to/from the securities and IBUKL segments.
  3. The calculated interest per tier will be rounded to the nearest 0.01 (or 1 for JPY). Therefore, a calculated interest of USD 0.0051 will be rounded to 0.01.

Example 1: An Easy to Borrow or General Collateral Stock

There are two factors for daily cost/revenues associated with short selling of stocks and bonds at IUR:

  • Borrow Fee
  • Short Sale Proceeds interest paid to you by IUR

Sell Short 100 AAPL

Stock Borrow Fee

TWS shows the following data for AAPL. The Fee rate* column reflects the Borrow Fee the account will be charged and shown on the account statement.

*TWS Fee rates are indicative intraday and may change due to market conditions between trade execution and settlement.

*TWS Fee rates are indicative intraday and may change due to market conditions between trade execution and settlement.

Statement

Value Date
Rates are based on a one-day look-back. The statement above is as of 6/21/2017 with a value date of 6/20/2017. That means the fee is being charged for holding the stock over market close on 6/20/2017.

Price
This is the cash collateral mark used to calculate interest.

Value
Collateral cash value.

Fee Rate (%)
The annualized percentage borrow fee the account is charged.

Borrow Fee
The cash amount the account will be charged to borrow AAPL for 6/20/2017.

Short Sale Proceeds Interest

IUR pays interest on Short Sale Proceeds based on the following schedule, calculated on the total short balance of the account.

The Short Sale Proceeds Interest rate that IUR would pay an account with a short balance of USD 5,000,000 is 0.628% (assuming the benchmark is 1.16%), computed as a weighted average of the tiers.

Net Cost

The net cost/revenue to short AAPL for an account with USD 5,000,000 in short balances is a credit of 0.378%, or USD 0.15 per day, as illustrated in this chart:


Configuring Your Account


Individual, Joint, Trust, IRA and UGMA/UTMA Accounts

 IndividualsJointTrustIRAUGMA/UTMA
Client DescriptionA single account holder.Two account holders. Can be one of these types: Tenants with Rights of Survivorship, Tenancy in Common, Community Property, or Tenancy by the Entirety.A legally established entity in which assets are held by one party for the benefit of another party.Individual Retirement Account, available to individual US tax residents only.An individual or entity who manages an account for a minor until that minor reaches a specific age. Available to US residents only.
Account DescriptionAssets held in a single account owned by a single account holder.Assets held in a single account owned by two account holders.A single account controlled by a Trustee with Settlors and Grantors.Same as Individuals.Assets held in a single account managed by a single Custodian user.
Trading Access & Account ManagementAccount holder has access to all functions. Can add additional users with a Power of Attorney.Both account holders have access to all functions. Can add additional users with a Power of Attorney.One or more trustees have access to all functions.Same as Individuals.Individual (Custodian) has access to all functions.
MarginCash, Reg T and Portfolio Margin are available.Same as Individuals.Same as Individuals.Same as Individuals.Cash accounts only. Margin is not available.

Friends and Family Accounts

Client DescriptionAn advisor who is exempt from registration and has 15 or fewer clients.
Account DescriptionA master account linked to individual client accounts. The master account is used for fee collection and trade allocations. The advisor can open a single client account for his or her own trading.
Client Markups% of equity, flat fee, % of P&L, fee per trade, and manual billing.
Trading Access & Account ManagementThe advisor has access to trading and most Account Management functions. Clients do not have access to trading but have access to all Account Management functions.
MarginCash, Reg T and Portfolio Margin are available. Each client account is individually margined.

Family Office Accounts

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

Small Business Accounts

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

Advisor Accounts

Client DescriptionAn Individual or Organization Registered Advisor that manages both client administration (Wealth Management) and the client's money (Money Management).
Account DescriptionA 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 ManagementThe 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.
MarginCash, Reg T and Portfolio Margin are available. Each client account is individually margined.
Pre-Trade AllocationsAdvisor(s) can pre-trade allocate cleared trades by account %, % of equity, or % of positions.
Multiple TiersAdvisors 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 DescriptionAn 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 DescriptionA 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 ManagementThe 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.
MarginThe 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 AllocationsSame as Advisors
Multiple TiersNot available.

Proprietary Trading Group Accounts

 PoolSeparate Trading Limit
Client DescriptionA corporation, partnership, limited liability company or unincorporated legal structure.Same as Pool.
Account DescriptionSingle 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 ManagementOne 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.
MarginCash, Reg T and Portfolio Margin are available.Cash, Reg T and Portfolio Margin are available. At trade initiation, each sub account is margined separately. For maintenance and liquidation purposes, all accounts are consolidated.

Compliance Officers

 EmployeeTrack
Client DescriptionAny organization that needs to monitor all or some of their employees' trading activity.
Account DescriptionA single account linked to multiple individual, joint, trust and IRA employee accounts for the purpose of monitoring their trading activity.
Trading Access & Account ManagementTrading is completely controlled by the broker employee with Compliance access to trade activity.
MarginNot applicable.

Administrators

Client DescriptionAny 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 DescriptionA 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 ManagementAn 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.
MarginNot Applicable.

Trading Requirements

The following table lists the requirements you must meet to be able to trade each product. Be sure to read the notes at the bottom of the table, as they contain important additional information. Note the information below is not applicable for India accounts.

Important: To qualify as an a client, you must meet these requirements:

  • `To trade any product, you must have a Good or Extensive Knowledge Level for that product. In the case of Complex & Leveraged Products, you must have a Good or Extensive Knowledge Level for stocks and options and stocks, or take a test.
  • To trade options, futures or Cash Forex, you must have a minimum of two years trading experience with that product or take a test.
  • To trade Bonds, if you are Hong Kong applicant, you must have a minimum of five years trading experience with that product or take a test.
  • To trade Complex & Leveraged Products, you must have a minimum of two years trading experience with stocks and options, or with stocks or options and take a test. Note that UGMA and UTMA accounts are not eligible to trade this product type.
  • Your Net Worth cannot be less than your Liquid Net Worth.
  • To qualify for a Portfolio Margin account, your Net Worth and Liquid Net Worth must each be greater than 100,000 USD.

Stocks, Warrants, Mutual Funds, Bonds (excluding HK applicants) 1

Liquid Net Worth/Income Minimums Age
Account TypeInvestment Objectives>50 or ORG41-5031-4021-30
Cash AccountIncome or
Growth or
Trading Profits or
Speculation or
Hedging
>20,000/Any
(Clients aged 18-21 are eligible to trade stocks
if they meet all other requirements)
Reg T Margin AccountGrowth or
Trading Profits or
Speculation or
Hedging
>20,000/>40,000
Portfolio Margin AccountTrading Profits or
Speculation
>100,000/Any

Bonds (HK applicants) 8

      
Account TypeInvestment Objectives>50 or ORG41-5031-4021-30
Cash AccountIncome or
Growth or
Trading Profits or
Speculation
>100,000/Any>75,000/>50,000>75,000/>45,000>75,000/>40,000
Reg T Margin AccountGrowth or
Trading Profits or
Speculation
>100,000/Any>75,000/>50,000>75,000/>45,000>75,000/>40,000
Portfolio Margin AccountTrading Profits or
Speculation
>100,000/Any>100,000/Any>100,000/Any>100,000/Any
Options, Penny Stocks – (Stocks are automatically selected when you select Options)2, 3, 5

Liquid Net Worth/Income Minimums Age
Account TypeInvestment Objectives>50 or ORG41-5031-4021-30
Cash AccountTrading Profits or
Speculation
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Reg T Margin AccountTrading Profits or
Speculation
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Portfolio Margin AccountTrading Profits or
Speculation
>100,000/Any>100,000/Any>100,000/Any>100,000/Any

Limited option trading is also available with ANY Investment Objective. Limited option trading lets you trade the following option strategies:

  • Long Call or Put
  • Covered Calls
  • Short Naked Put: Only if covered by cash
  • Call Spread: Only European-style cash-settled
  • Put Spread: Only European-style cash-settled
  • Long Butterfly: Only European-style cash settled
  • Iron Condor: Only European-style cash settled
  • Long Call and Put

Cash Forex 4, 5

Liquid Net Worth/Income Minimums Age
Account TypeInvestment Objectives>50 or ORG41-5031-4021-30
Reg T Margin AccountTrading Profits or
Speculation or
Hedging
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Portfolio Margin AccountTrading Profits or
Speculation
>100,000/Any>100,000/Any>100,000/Any>100,000/Any

Futures, Futures Options 6, 7

Investment ObjectivesLiquid Net Worth/Income Minimums Age
Account TypeInvestment Objectives>50 or ORG41-5031-4021-30
Cash AccountGrowth or
Trading Profits or
Speculation 7 or
Hedging
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Reg T Margin AccountGrowth or
Trading Profits or
Speculation 7 or
Hedging
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Portfolio Margin AccountTrading Profits or
Speculation 7
>100,000/Any>100,000/Any>100,000/Any>100,000/Any

Single-Stock Futures 2

Liquid Net Worth/Income Minimums Age
Account TypeInvestment Objectives>50 or ORG41-5031-4021-30
Reg T Margin AccountGrowth or
Trading Profits or
Hedging
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Portfolio Margin AccountTrading Profits or
Speculation
>100,000/Any>100,000/Any>100,000/Any>100,000/Any

Complex or Leveraged Product (CLP)

Liquid Net Worth/Income Minimums Age
Account TypeInvestment Objectives>50 or ORG41-5031-4021-30
Cash AccountTrading Profits or
Speculation or
Hedging
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Reg T MarginTrading Profits or
Speculation or
Hedging
>100,000/Any>75,000/>50,000>50,000/>45,000>20,000/>40,000
Portfolio MarginTrading Profits or
Speculation or
Hedging
>100,000/Any>100,000/Any>100,000/Any>100,000/Any

Notes:

  1. Only applicants with US accounts and US residence can trade Mutual Funds.
  2. If you select only Options or only Single-stock Futures, Stocks will automatically be selected as well.
  3. For Options, in addition to the Years Trading and Trades per Year requirements, your Total lifetime Options trades must equal at least 100. For options, this is defined as stock trades + options trades + futures trades = at least 100 total trades lifetime.
  4. For Cash Forex, in addition to the Years Trading and Trades per Year requirements, your Total lifetime Forex trades must equal at least 100. For Forex, this is defined as stock trades + options trades + futures trades + forex trades = at least 100 total lifetime trades.
  5. Applicants who have completed the teaching exam for Options or Forex are exempt from the two years experience requirement to trade Options or Cash Forex.
  6. If you select Futures Options only, Futures will automatically be selected as well.
  7. The Speculation investment objective requirement does not apply to Futures and Futures Options trading in a Trust account.
  8. HK Applicants who have completed the teaching exam for Bonds are exempt from the five years experience requirement to trade Bonds.

Customer Types

Individual

Available Account Structures:

  • Individual, Joint, Trust, IRA
  • Friends and Family
  • Family Office
  • Advisor
  • Advisor Client (including Friends and Family, Family Office)
  • Broker Client
  • EmployeeTrack 1

Explanation: An account owned and utilized by a single trader or investor. A Single account can be linked to multiple Single or IRA accounts.

Joint

Available Account Structures:

  • Individual, Joint, Trust, IRA
  • Advisor Client (including Friends and Family, Family Office)
  • Broker Client
  • EmployeeTrack 1

Explanation: An account owned and utilized by two individuals. Depending on the laws of your state of residence, there are three types of joint accounts: Tenants with Rights of Survivorship, Tenancy in Common, and Community Property.

Trust

Available Account Structures:

  • Individual, Joint, Trust, IRA
  • Advisor Client (including Friends and Family, Family Office)
  • Broker Client
  • EmployeeTrack 1

Explanation: An account in which the securities are registered in the name of the trust, while a trustee controls the management of the investments. Trusts with more than one trustee will be deemed Professional for market data purposes.

IRA

Available Account Structures:

  • Individual, Joint, Trust, IRA
  • Advisor Client (including Friends and Family, Family Office)
  • Broker Client
  • EmployeeTrack 1

Explanation: Individual Retirement Account. We offer the following types of IRA accounts.

  • Traditional
  • Traditional Rollover
  • Traditional Inherited
  • Roth
  • Roth Inherited
  • Simplified Employee Pension (SEP)
  • Simplified Employee Pension (SEP) Inherited

This account is only available for individual US citizens living anywhere and US resident aliens. An IRA account can be linked to multiple Individual or IRA accounts.

IRA Trust

Available Account Structures:

  • Advisor Client (including Friends and Family, Family Office)

Explanation: An IRA account held at a designated Third Party Trustee. This account is only available as a client account for a U.S Advisor.

UGMA/UTMA

Available Account Structures:

  • Individual
  • Advisor
  • Fully Disclosed Broker

Explanation: An account intended for a custodian of a minor who is a US resident.

Corporation

Available Account Structures:

  • Friends and Family
  • Small Business
  • Family Office
  • Advisor
  • Advisor Client (including Friends and Family, Family Office)
  • Broker
  • Broker Client
  • Proprietary Trading Group
  • Fund
  • EmployeeTrack 1

Explanation: An account in the name of a corporation, managed on the corporation’s behalf by the corporation’s officers or authorized traders.

Partnership

Available Account Structures:

  • Friends and Family
  • Small Business
  • Family Office
  • Advisor
  • Advisor Client (including Friends and Family, Family Office)
  • Broker
  • Broker Client
  • Proprietary Trading Group
  • Fund
  • EmployeeTrack 1

Explanation: An account in the name of a partnership, managed on the partnership’s behalf by the partnership’s officers or authorized traders.

Limited Liability Company

Available Account Structures:

  • Friends and Family
  • Small Business
  • Family Office
  • Advisor
  • Advisor Client (including Friends and Family, Family Office)
  • Broker
  • Broker Client
  • Proprietary Trading Group
  • Fund
  • EmployeeTrack 1

Explanation: An account in the name of a limited liability company (“LLC”), managed on the LLC’s behalf by its officers or authorized traders.

Unincorporated Business

Available Account Structures:

  • Friends and Family
  • Small Business
  • Family Office
  • Advisor
  • Advisor Client (including Friends and Family, Family Office)
  • Broker
  • Broker Client
  • Proprietary Trading Group
  • Fund
  • EmployeeTrack 1

Explanation: An account in the name of an unincorporated business, managed on the business’ behalf by the business officers or authorized traders.

Notes:

  1. You are an employee of a company that participates in IUR’s EmployeeTrack program.

Available Base Currencies

Your base currency determines the currency of translation for your statements and the currency used for determining margin requirements. Base currency is determined when you open an account. Customers who hold a margin account may change their base currency at any time through Account Management.

Cash accounts can have multi-currency (MULT) capability and can trade non-base currency products. 1

 

AbbreviationDescription
AUDAustralian Dollar
CADCanadian Dollar
CZKCzech Koruna
CHFSwiss Franc
DKKDanish Krone
EUREuro
GBPBritish Pound
HKDHong Kong Dollar
HUFHungarian Forint
INR1Indian Rupee
ILSIsraeli Shekel
JPY1Japanese Yen
MXNMexican Peso
NOKNorwegian Krone
NZDNew Zealand Dollar
RUBRussian Ruble
SEKSwedish Krona
SGDSingapore Dollar
USDUnited States Dollar

 

You are not restricted from making deposits and withdrawals in any one of the aforementioned non-base currencies. 2

Account Types

When opening your account you have a choice of Cash, Margin, IRA Margin or Portfolio Margin account types. For more specific information on margin calculations, see our Margin Requirements page. The following table provides a quick-glance comparison of these accounts. View the account type page from the links above for more details.

Stocks and Warrants

Margin: Margin is calculated on a real-time basis. Immediate position liquidation if minimum maintenance margin requirement is not met. Purchase and sale proceeds available immediately. US securities regulations require a minimum USD 25,000 in equity or equivalent to day trade.

IRA Margin: Cannot borrow cash i.e. have a debit balance or short stocks.

Cash (including IRA accounts): Account must have enough cash to cover the cost of stock plus commissions. Shorting not allowed. Cash from the sale of stocks is available three business days after the trade date. Account may trade in different currencies but must have the settled cash balance to enter trades. When authorizing market, relative and VWAP orders, a 5% cash cushion is required to compensate for market movements.

Portfolio Margin1: Margin is calculated on a real-time risk basis. Immediate position liquidation will occur if the minimum maintenance margin requirement is not met. Purchase and sale proceeds available immediately. US securities regulations require a minimum USD 110,0003 or equivalent for this account. If your account drops below USD 100,000, Reg T margin requirements will apply.

Bonds

Margin: Margin is calculated on a real-time basis. Immediate position liquidation if minimum maintenance margin is not met. Shorting Treasuries not allowed. Purchase and sale proceeds available immediately.

IRA Margin: Cannot borrow cash i.e. have a debit balance or short stocks.

Cash (including IRA accounts): Account must have enough cash to cover the cost of bonds plus commissions. Shorting not allowed. Cash from the sale of bonds is available three business days after the trade date.

Portfolio Margin1: Same as Margin account type.

Mutual Funds

Margin: Margin is calculated on a real-time basis. Immediate position liquidation if minimum margin requirement is not met. Cash required to meet variation margin requirements. Non-US futures options are available to US legal residents.

IRA Margin: Cannot borrow cash i.e. have a debit balance or short stocks.

Cash (including IRA accounts): Account must have enough cash to cover the cost of funds plus commissions. Cash from the sale of funds is available one business day after the trade date. Only available to US legal residents.

Portfolio Margin1: Same as Portfolio Margin requirements for stocks.

Stock and Cash Index Options

Margin: Margin is calculated on a real-time basis. Immediate position liquidation if minimum maintenance margin requirement is not met. Purchase and sale proceeds available immediately. To purchase options the entire premium plus commissions must be deposited. To sell options and other strategy-based combos, the margin requirements and commissions must be covered. US Securities regulations require at least 25,000 USD in equity or equivalent to day trade. Option market value may never be used for the purpose of borrowing funds.

IRA Margin: Cannot borrow cash i.e. have a debit balance or short stocks. For information on combination strategies that require borrowing and consequently are not available, see the Reg T Margin IRA column on the Options Margin Requirements page.

Cash (including IRA accounts): Full payment required for all call and put purchases. Covered call writing is allowed, but the underlying stock must be available and is then restricted. Naked put writing is allowed, but the funds must be available and then are restricted. Cash from the sale of options is available one business day after the trade date.

Portfolio Margin1: Same as Portfolio Margin requirements for stocks.

Currency Conversion

Margin: Borrowing in one currency to purchase another currency without leverage is allowed, but margin haircuts will be applied on a real-time basis.

IRA Margin: Never allowed to borrow currencies.

Cash (including IRA accounts): Cash from Forex transactions is available two business days after trade date. Never allowed to borrow currencies.

Portfolio Margin1: Same as Margin account type.

Cash Forex

Margin: Borrowing to establish a position (trading Forex) is allowed. Additional qualifications must be met and additional trading permissions are required for Cash Forex.

IRA Margin: Never allowed to borrow currencies.

Cash (including IRA accounts): Cash from Forex transactions is available two business days after trade date. Never allowed to borrow currencies.

Portfolio Margin1: Same as Margin account type.

Notes:

  1. Portfolio Margin accounts are not available for IUR Canada customers due to IDA restrictions.
  2. Please note that for commodities, including futures, futures options and single stock futures, “margin” refers to the amount of cash that must be put up BY THE CLIENT as collateral to support a transaction, in contrast to margin for securities which refers to the amount of cash a client borrows from IUR.
  3. Accounts with IURPrime services require a minimum of USD 1,000,000 or USD equivalent.

  • Margin accounts have the ability to trade in all available countries.
  • IRA accounts can have cash or margin trading permissions, but margin accounts are never allowed to borrow cash (have a debit balance) as per US IRS regulation.

Client Account Minimums and Activity Fees

  PRO
Account MinimumsUSD 0.00
Account Maintenance FeesUp to USD 10 based on activity
Will be equal to zero if:
  • Greater than USD 100,000 in average equity for a calendar month or

  • USD 10 in commissions generated in a calendar month.

If your Pro account does not meet these criteria, we may charge an activity fee as described below.

Account StructureMonthly Activity Fee 2Waiver

Single Accounts, Individuals and Small Businesses


Monthly Activity Fee = 0 if monthly commissions are equal to or greater than USD 10.

If monthly commissions are less than USD 10,
Standard Activity Fee = USD 10 – commissions.

Example:
Monthly commissions = USD 6
Standard Activity Fee = USD 10 – USD 6
Standard Activity Fee = USD 4


The first three full calendar months 7or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)

or

Total assets for all related accounts8 > [(number of related accounts) * (USD 100,000)]
Average Equity Balance is less than USD 2,000 3or

A balance is maintained in a closed account
Monthly Activity Fee = 0 if monthly commissions are equal to or greater than USD 20.

If monthly commissions are less than USD 20,
Activity Fee = USD 20 – commissions.

Example:
Monthly commissions = USD 11
Activity Fee = USD 20 – USD 11
Activity Fee = USD 9


Not applicable.
Accounts (employee) linked to an EmployeeTrack accountMonthly Activity Fee = USD 3.

If monthly commissions are less than USD 3,
Activity Fee = USD 3 – commissions.

Example:
Monthly commissions = USD 2
Activity Fee = USD 3 – USD 2
Activity Fee = USD 1


The first three full calendar months 7or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)

or

Total assets for all related accounts8 > [(number of related accounts) * (USD 100,000)]
Client is age 25 or underMonthly Activity Fee = 0 if monthly commissions are equal to or greater than USD 3.

If monthly commissions are less than USD 3,
Activity Fee = USD 3 – commissions.

Example:
Monthly commissions = USD 1.25
Activity Fee = USD 3 – USD 1.25 Activity Fee = USD 1.75


The first three full calendar months 7

or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)

or

Total assets for all related accounts8 > [(number of related accounts) * (USD 100,000)]

Account StructureMonthly Activity Fee 2Waiver

Linked Accounts


Monthly Activity Fee = 0 if consolidated monthly commissions are at least equal to (number of accounts x USD 10).

Example:
Two linked accounts
Monthly consolidated commissions minimum requirement is 2 x USD 10 = USD 20
Account 1 monthly commissions = USD 20
Account 2 monthly commissions = USD 0
No Activity Fee charged on either account.


The first three full calendar months 7or

Total assets for all related accounts8 > [(number of related accounts) * (USD 100,000)]

Account StructureMonthly Activity Fee 2Waiver

UGMA/UTMA Accounts


Monthly Activity Fee = 0 if
monthly commissions are equal to at least USD 10.If monthly commissions are less than USD 10,
Standard Activity Fee= USD 3
The first three full calendar months 7or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)

or

Total assets for all related accounts8 > [(number of related accounts) * (USD 100,000)]

Account StructureMonthly Activity Fee 2Waiver

Advisor, Friends and Family, Family Office, and Hedge Fund Investment Accounts


Advisor Master Account

There is no Activity Fee for the Master Account.
N/A
Advisor Client Accounts5,6

Monthly Activity Fee = 0 if consolidated monthly commissions are less than the Required Minimum, the standard minimum activity fee will be applied to each account, proportionally on an account-by-account basis as described below.

To calculate the Required Minimum, multiply the total number of open client accounts during the month by 10.
  1. Calculate the group's total commission minimum shortfall by adding the standard minimum activity fee for each account and then subtracting the commission generated.
    Deficit for the Group of Client Accounts = Maximum ([total minimum charge for all client accounts*] – [total commissions for all client accounts], 0)
    *The standard minimum activity fees are applied to each account based on the criteria such as age, Net Liquidation Value, etc., as shown in the Single Accounts, Individuals and Small Businesses section.

  2. Calculate the total shortfall for each account individually using the standard minimum activity fees.
    Client Account Deficit = Maximum ([standard minimum charge] – [account's commissions], 0)

  3. Determine the group's commission minimum shortfall by summing each client's commission shortfall
    Total Deficit for All Client Accounts = Sum ([Client Account Deficit]);

  4. Calculate the weighting which will apply to each account.
    Weighted Client Account Deficit = [Client Account Deficit] / [Total Deficit for All Client Accounts].

  5. Apply the weighting to each account to determine its prorated portion of the minimum activity fee.
    Proportionally Charged Monthly Activity Fee = [Weighted Client Account Deficit] * [Deficit for the Group of Client Accounts]


Each client account cannot be charged more fees than the required minimum. That is, if an account meets the required minimum of USD 10, it cannot be charged fees > USD 10. The resulting minimum fees charge for each account = Minimum ([Proportionally Charged Monthly Activity Fee], [Client Account Deficit])
If after performing the consolidated calculation, it is determined that fee must be charged on an account-by-account basis, then the following waivers will be applied to each client account:

The first three full calendar months 7or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)

or

Total assets for all related accounts8 > [(number of related accounts) * (USD 100,000)]
Separate Trading LimitMonthly Activity Fee = 0 if
consolidated monthly commissions are at least equal to (number of accounts4 x USD 10).

Example:
STL has 12 sub accounts, number of Accounts = 13
Monthly consolidated commissions minimum requirement is 13 x 10 = USD 130




If the monthly consolidated commissions are less thanthe required minimum, an activity fee is charged on an account-by-account basis using the Standard Activity Fee calculation described above. 5, 7
If after performing the consolidated calculation, it is determined that fee must be charged on an account-by-account basis, then the following waivers will be applied to each client account:

The first three full calendar months 7or

Accounts whose Net Liquidation Value >= USD 100,000 (or non-USD equivalent)

or

Total assets for all related accounts8 > [(number of related accounts) * (USD 100,000)]

Notes:

  • To trade a margin account you must maintain at least USD 2,000 or non-USD equivalent. For details on margin requirements, see the Margin page.
  • Pattern Day Traders have higher minimum requirements, which are defined in the Day Trading section of margin requirements.
  • Individual (employee) accounts linked to an EmployeeTrack account have no minimum balance requirement.

Friends and Family Accounts

Client DescriptionAn advisor who is exempt from registration and has 15 or fewer clients.
Account DescriptionA master account linked to individual client accounts. The master account is used for fee collection and trade allocations. The advisor can open a single client account for his or her own trading.
Client Markups% of equity, flat fee, % of P&L, fee per trade, and manual billing.
Trading Access & Account ManagementThe advisor has access to trading and most Account Management functions. Clients do not have access to trading but have access to all Account Management functions.
MarginCash, Reg T and Portfolio Margin are available. Each client account is individually margined.

Family Office Accounts

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

Small Business Accounts

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

Advisor Accounts

Client DescriptionAn Individual or Organization Registered Advisor that manages both client administration (Wealth Management) and the client's money (Money Management).
Account DescriptionA 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 ManagementThe 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.
MarginCash, Reg T and Portfolio Margin are available. Each client account is individually margined.
Pre-Trade AllocationsAdvisor(s) can pre-trade allocate cleared trades by account %, % of equity, or % of positions.
Multiple TiersAdvisors 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 DescriptionAn 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 DescriptionA 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 ManagementThe 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.
MarginThe 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 AllocationsSame as Advisors
Multiple TiersNot available.

Proprietary Trading Group Accounts

 PoolSeparate Trading Limit
Client DescriptionA corporation, partnership, limited liability company or unincorporated legal structure.Same as Pool.
Account DescriptionSingle 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 ManagementOne 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.
MarginCash, Reg T and Portfolio Margin are available.Cash, Reg T and Portfolio Margin are available. At trade initiation, each sub account is margined separately. For maintenance and liquidation purposes, all accounts are consolidated.

Compliance Officers

 EmployeeTrack
Client DescriptionAny organization that needs to monitor all or some of their employees' trading activity.
Account DescriptionA single account linked to multiple individual, joint, trust and IRA employee accounts for the purpose of monitoring their trading activity.
Trading Access & Account ManagementTrading is completely controlled by the broker employee with Compliance access to trade activity.
MarginNot applicable.

Administrators

Client DescriptionAny 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 DescriptionA 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 ManagementAn 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.
MarginNot Applicable.

QQQQ

QQ2Q2

Client accounts are held at a FINRA broker-dealer that is independent of IUR Capital LLC. Client account statements and their performance information are generated by the broker-dealer/clearing firm and are believed to be accurate however IUR cannot guarantee the accuracy or completeness.

Account statements generated by the broker-dealer are net of commissions and fees which includes a tiered annual management fee of 1.00% – 1.75% based on account size typically deducted on annual basis by the clearing firm for IUR. The tiered annual management fee schedule may differ for new accounts. Where performance fees are applicable, the standard fee is 20%. These are calculated at year end and are based on annual capital gains in the account.

IUR manages and advises segregated client accounts and does not operate or market any form of private or public fund of its own and you should not assume that any of the information included in this presentation relates to the operation or marketing of a fund. IUR does not make any claim of being GIPS compliant. There has been no change in key personnel in the last 3 years. Client accounts are held at a FINRA broker-dealer that is independent for IUR Capital LLC. Past performance is not indicative of future results.

For a full description of IUR Capital LLC and our investment advisory operations, please request our ADV Part 2 brochure which is provided to all prospective clients.

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  • Long Call Spread
  • Long Put Spread
  • Covered Call
  • Cash-Secured Put
  • Put Credit Spread
  • Call Credit Spread
  • Calendar Spread
  • Protective Put
  • Straddle / Strangle
  • Condor

Most Actively Used Option Strategy

Credit Spread

  • Minimum term: None
  • Suggested Holding Period: > 1 Year
  • Liquidity: Daily
  • Annual Management Fee: 1.00% - 1.75%
    (Tiered based on account size). Excludes Transaction
    costs
  • Account minimum: US $50,000
  • Performance Fee: 20% (Qualified Clients Only)
  • Currency: $USD
  • Advisors: IUR Capital LLC
  • Regulatory Status: Registered Investment Advisor
  • Firm CRD 153630

SPY ETF (S&P 500
Index ETF) IWM ETF (Russell 2000 Index ETF)

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  • Gareth Ryan, IUR Founder & Managing Director
  • Founded IUR in 2007
  • Began career as a currency trader for a proprietary trading firm in London
  • Previously with an equities/options broker-dealer with a focus on retail and institutional client trading
  • Regular guest on Bloomberg TV, FOX Business

  • IUR advises on exchange-traded options product for retail/institutional investors.
  • These include – Index ETF’s, Commodity ETF’s, Currency ETF’s and Fixed Income ETF’s in addition to individualsecurities.
  • We operate our options positions across a basket of underlying securities for the options account.
  • Total number of open positions will vary based on several key factors, including account size.
  • The IUR Options Advisor Account is available for individual, joint, IRA and trust/corporate accounts.
  • IUR operate all client accounts on a state-of-the-art automated online advisor platform. No client funds are held directly by IUR.

  • Continuous risk monitoring on ALL options positions by IUR.
  • Options account exposure management – Predefined risk/return scenario for each position.
  • Position sizing – Determine limits at the outset of net size for each position
  • Stop-losses and position volatility
  • No uncovered call/put positions.


Options are leveraged products and involve risk. The value of investments and the return to investors may increase or decrease. IUR provide no guarantee of any returns. This information is being provided to you solely for information purposes and should not be reproduced. Prior to engaging in options strategies, investors should read and understand the document “Characteristics and Risks of Standardised Options” available through the Options Industry Council (OIC). IUR client accounts are held with a FINRA clearing firm independent of IUR. This document is not an offer or a solicitation of an offer to buy or sell any security and IUR will not accept liability for any trading decisions resulting from or related to this information, data or analysis.

None of the information provided should be relied upon for the maintenance of books and records for tax, accounting, financial or regulatory reporting.

IUR Capital LLC is a Registered Investment Advisor (RIA) with the Securities and Exchange Commission. Firm CRD 153630. IUR Capital Ltd headquarters are at Third Floor, Lansdowne House, 57 Berkeley Square, London, W1J 6ER, United Kingdom.

Open An Account

To open an account or for a full description of IUR Capital LLC and our investment advisory operations, please request our ADV Part II brochure below which is provided to all prospective clients.



    NREW HOME


    Lite is the hassle free way to trade in the US and other eligible countries.

    We offer unlimited, commission-free trading on US exchange-listed stocks and ETFs,2 as well as low cost access to global markets without required account minimums or inactivity fees.

    If that is not reason enough, we pay competitive interest on your idle cash balances, let you earn extra income in our Stock Yield Enhancement Program and offer low financing rates for borrowing against your account.

    Start on the path to financial freedom with an Lite account.

    A Powerful Suite of Trading Platforms

    IBKR Lite Clients have access to Client Portal, our simple to use online account management and trading platform, and IBKR Mobile, our robust mobile trading app that gives you the freedom to trade your account on-the-go from the palm of your hand. In addition, our flagship Trader Workstation (TWS) is available for active traders and investors who trade multiple products and require power and flexibility.


    Create SophisticateTrading Strategies

    OptionTrader is our proprietary trading tool for executing speculative trades or building complex, multi-leg orders to hedge a position.
    From a single screen, users can:


    A Robust Set of Tools for Evaluating and Trading Options

    Our comprehensive product suite of tools and algorithms help investors design option strategies that
    manage risk, produce income and generate capital appreciation.

    Options Portfolio

    Our algorithm analyzes the risk/return profile of multiple options trading strategies to deliver low-cost trading solutions.

    Options Portfolio continuously and efficiently scours market data for low-cost option strategies to bring a portfolio in line with user-defined objectives for the Greek risk dimensions (Delta, Gamma, Theta and Vega).


    Options Analytics

    Manipulate key option pricing criteria – including price, time and implied volatility – and visualize the impact on premiums.

    Display the respective risk scenarios – Delta, Gamma, Theta and Vega – for call and put options for the current time period through expiration


    Probability Lab

    Use this tool to redefine the price and volatility outlook for an underlying stock or
    ETF, and identify potentially profitable options strategies, based on that view.

    Calculate, visualize and adjust the profit potential of complex
    combination trades with just a few mouse clicks.



    Pricing


    Our transparent pricing for stocks, ETFs (Exchange Traded Products, or ETPs) and warrants includes our low broker commission, plus exchange, regulatory, and clearing fees. In cases where an exchange provides a rebate, we pass some or all of the savings directly back to you.1

    In the event that IUR receives a rebate for executing a trade in a Regulation NMS stock at a market-maker, dark pool, or with a liquidity provider in the IUR ATS, IUR will pass the full amount of that rebate to customers as a venue rebate.

    Commission per Share
    US Stocks, ETFs, ETPs and WarrantsMinimum per OrderMaximum per Order
    Broker-Assisted Trades
    USD 0.0050USD 1.001.0% of trade value
    Online Pricing +$25.00 service charge

    Commission-Free ETFs

    ProductVolumeCommission per Share
    Aberdeen Standard ETFsAnyUSD 0.00 4
    ACSI ETFsAnyUSD 0.00 4
    AGF Investment ETFs
    AnyUSD 0.00 4
    Cambria ETFsAnyUSD 0.00 4
    Eaton Vance NextShares Exchange-Traded Managed FundsAnyUSD 0.00 4
    Global X FundsAnyUSD 0.00 4
    Hull Tactical ETFsAnyUSD 0.00 4
    Infrastructure ETFsAnyUSD 0.00 4
    Legg Mason ETFsAnyUSD 0.00 4
    O’Shares ETFsAnyUSD 0.00 4
    Reality Shares ETFsAnyUSD 0.00 4
    Salt Financial ETFsAnyUSD 0.00 4

    Clearing Fees (per share)

    NSCC, DTC Fees USD 0.00020 6

    Transaction Fees

    Transaction Fees 3Volume (per month)
    Stocks, ETFs, ETPs, Warrants, Rights, Voting Trust CertificatesUSD 0.0000207*Value of Aggregate Sales
    NYSE Pass-Through Fees IUR Commissions *0.000175
    FINRA Pass-Through Fees IUR Commissions *0.00056
    FINRA Trading Activity Fee USD 0.000119 * Quantity Sold 5

    Trade Allocation Minimum Commissions

    We charge a minimum fee for US stock trades allocated by Advisors to their clients. Advisors can choose to charge the allocation minimum fee to their master account or to the client account.

    By default, the allocation minimum is charged to the client account unless there is a specific rate arrangement between the client and the master account.

    Minimum Trade Allocation FeesMinimum (trade value * 0.0005, USD 0.35)
    Example 1

    100 Shares executed at a price of USD 10.00 allocated to two accounts (50/50):
    Allocation Size = 50
    Trade Value = USD 500
    Minimum (500 * 0.0005, USD 0.35) = Minimum (0.25, 0.35)
    New Tiered Commisions Per Allocation = 0.25

    Example 2

    50 Shares executed at a price of USD 100.55 allocated to two accounts (30/20):
    30 Share Allocation Trade Value = USD 3016.50
    Minimum (3016.50 * 0.0005, USD 0.35) = Minimum (1.50, 0.35)
    New Tiered Commission for 30 Share Allocation = USD 0.35

    20 Share Allocation Trade Value = USD 2011
    Minimum (2011 * 0.0005, USD 0.35) = Minimum (1, 0.35)
    New Tiered Commission for 20 Share Allocation = 0.35

    Notes

    1. IUR’s commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in IUR’s Tiered commission schedule may be greater than the costs paid by IUR to the relevant exchange, regulator, clearinghouse or third party. For example, IUR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IUR may be less than the rebates IUR receives from the relevant market. For example, IUR may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients. Average per Share Rebate Amounts for Regulation NMS Stocks are reported on the Rule 606 Quarterly Order Routing Report of the executing broker. To obtain a copy please contact IUR.
    2. Transaction fees are only charged for sell orders.
    3. No exchange, clearing or transaction fees charged.
    4. Maximum USD 5.95 per trade. In the case of partial executions, each execution is considered one trade.
    5. Maximum 0.5% of trade value.
    6. Orders where the commission cap is applied do not count towards the monthly volume tiers.
    7. In the event the calculated maximum per order is less than the minimum per order, the maximum per order will be assessed. For example, a purchase to buy 10 shares of a $0.20 stock will be charged $0.02 (10 shares x 0.0035/share = 0.035 commission, minimum 0.35 per Order, capped at 10 shares x 0.20 x 1% = 0.02). Note, external fees will be added to the IUR commission.

    • Commissions apply to all order types.
    • When using SmartRouting, clients should be aware that IUR may route the order to an exchange with a better quoted price but with substantially higher fees. In particular, clients should understand the ECN charges for removing liquidity when sending marketable orders for low priced stocks (under USD 2.50).
    • All exchange, special and other fees are charged on a per-share basis.
    • In our commission structure, clients may or may not be eligiblble to receive direct credit for rebates paid for certain types of orders executed at various market centers. For example, IUR may receive enhanced rebate payments as a result of exceeding volume thresholds on particular markets, but typically will not directly pass these enhancements to customers. Likewise, IUR does not pass to customers all of the rebates IUR may receive for orders in pink sheet or OTCBB stocks.
    • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
    • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
    • If IUR receives a rebate payment for a pink sheet or OTCBB execution, this rebate is not passed to the clients.
    • Accumulate/Distribute and Scale Orders will be subject to standard IUR Order minimums for each new slice of the algorithm which is submitted.


    Online TradesMinimum Per Order
    Broker-Assisted Trades
    $0 + $0.65 per contractUSD $1.00Online pricing + $25.00 service charge

    Notes

    1. Our commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients may be greater than the costs paid by IUR or the executing broker to the relevant exchange, regulator, clearinghouse or third party. For example, IUR or the executing broker may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IUR or the executing broker may be less than the rebates received from the relevant market. For example, IUR or the executing broker may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients.
    2. The Options Regulatory Fee (“ORF”) is charged by the following exchanges: AMEX, BATS, BOX, CBOE, CBOE2, EDGX, EMERALD, ISE, GEMINI, MERCURY, MIAX, MERCURY, NOM, NASDAQBX, PSE, PHLX.
    3. Fee applies to executions which clear in the “Customer” account with OCC. This will generally include Public Customer and Professional Customer transactions.
    4. Transaction fees are only charged for sell orders.
    5. Only customers who transmit orders through IUR will have access to SmartRouting for US Listed Securities.
    • Commissions apply to all order types.
    • Commissions are not charged for US exercise and assignment.
    • Commissions are not charged for US cabinet buy-to-close trades.
    • IUR and the executing broker considers exchange fees and/or rebates in determining where to route an order. Under certain circumstances, IUR and the executing broker may route a marketable order to an exchange that is not currently posting the national best bid or offer (NBBO) but which may be willing to “step up” and execute the order at the NBBO, in order to avoid or reduce the exchange fee for executing the order. If this routing method is used, the client generally will pay a lower execution fee than client would have otherwise paid. In those cases where the order is routed to an exchange that is not currently posting the NBBO in order to reduce or avoid exchange fees, the executing broker will guarantee the client a fill at the NBBO at the time that order was routed.
    • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders.
    • Order minimums will be applied to the individual legs of a COMBO order.
    • Service charges apply for trades placed through a broker ($25) by phone. Please note calls are recorded for monitoring purposes.
    • Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons.


    Corporate & CDs

    COMMISSIONSMINIMUMMAXIMUM
    0.005%* Face Value (50 bps) 1, 2USD 5.00 per OrderNone

    Treasuries (Bills, Notes, Bonds)

    COMMISSIONSMINIMUM PER ORDERMAXIMUM PER ORDER
    0.005%* Face Value (50 bps) 1USD 5.00 per orderNone

    External Fees

    External fees are passed through at cost. View External Fees

    Notes

      1. 1 basis point=$0.0001
        • Any tiered commission models operated by our executing broker-dealer or clearing firm are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients of any applicable tiered commission schedule may be greater than the costs paid by the executing broker-dealer or clearing firm to the relevant exchange, regulator, clearinghouse or third party. For example, the executing broker-dealer or clearing firm may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by the executing broker-dealer or clearing firm may be less than the rebates received from the relevant market.
        • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
        • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example,if an order for bonds with USD 20,000 Face Value is submitted and 10,000 face value executes, then you modify the order and another 10,000 face value executes, a commission minimum where applicable would be applied to both 10,000 face value executions. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.


    Commissions


    Tirered

    Our transparent Tiered pricing for stocks, ETFs (Exchange Traded Products, or ETPs) and warrants includes our low broker commission, which decreases depending on volume, plus exchange, regulatory, and clearing fees. In cases where an exchange provides a rebate, we pass some or all of the savings directly back to you. 1

    In the event that IB receives a rebate for executing a trade in a Regulation NMS stock at a market-maker, dark pool, or with a liquidity provider in the IB ATS, IB will pass the full amount of that rebate to Tiered-commission customers as a venue rebate.

    Commission per Share
    US Stocks, ETFs, ETPs and WarrantsMinimum per OrderMaximum per Order
    Broker-Assisted Trades
    USD 0.0050USD 1.001.0% of trade value
    Online Pricing +$25.00 service charge

    Commission-Free ETFs

    ProductVolumeCommission per Share
    Aberdeen Standard ETFsAnyUSD 0.00 4
    ACSI ETFsAnyUSD 0.00 4
    AGF Investment ETFs
    AnyUSD 0.00 4
    Cambria ETFsAnyUSD 0.00 4
    Eaton Vance NextShares Exchange-Traded Managed FundsAnyUSD 0.00 4
    Global X FundsAnyUSD 0.00 4
    Hull Tactical ETFsAnyUSD 0.00 4
    Infrastructure ETFsAnyUSD 0.00 4
    Legg Mason ETFsAnyUSD 0.00 4
    O’Shares ETFsAnyUSD 0.00 4
    Reality Shares ETFsAnyUSD 0.00 4
    Salt Financial ETFsAnyUSD 0.00 4

    Clearing Fees (per share)

    NSCC, DTC Fees USD 0.00020 6

    Transaction Fees

    Transaction Fees 3Volume (per month)
    Stocks, ETFs, ETPs, Warrants, Rights, Voting Trust CertificatesUSD 0.0000207*Value of Aggregate Sales
    NYSE Pass-Through Fees IUR Commissions *0.000175
    FINRA Pass-Through Fees IUR Commissions *0.00056
    FINRA Trading Activity Fee USD 0.000119 * Quantity Sold 5

    1. IBKR’s Tiered commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in IBKR’s Tiered commission schedule may be greater than the costs paid by IBKR to the relevant exchange, regulator, clearinghouse or third party. For example, IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients. Average per Share Rebate Amounts for Regulation NMS Stocks are reported on the Interactive Brokers Rule 606 Quarterly Order Routing Report. Click here to view copy of the Report.
    2. Volume tiers are applied based on monthly cumulative trade volume summed across all US and Canadian stock and ETF shares at the time of the trade. Only shares that are traded while under the Tiered pricing structure will count towards the monthly volume. Share volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 500,000 US shares in a month, your IB Tiered fees would be:
      • 300,000 shares at USD 0.0035
      • 200,000 shares at USD 0.002
    3. Transaction fees are only charged for sell orders.
    4. No exchange, clearing or transaction fees charged.
    5. Maximum USD 5.95 per trade. In the case of partial executions, each execution is considered one trade.
    6. Maximum 0.5% of trade value.
    7. Orders where the commission cap is applied do not count towards the monthly volume tiers.
    8. In the event the calculated maximum per order is less than the minimum per order, the maximum per order will be assessed. For example, a purchase to buy 10 shares of a $0.20 stock will be charged $0.02 (10 shares x 0.0035/share = 0.035 commission, minimum 0.35 per Order, capped at 10 shares x 0.20 x 1% = 0.02). Note, external fees will be added to the IB commission for those on the Tiered commission structure.

    • Commissions apply to all order types.
    • IB’s Tiered fee will be capped at 0.5% of trade value.
    • When using SmartRouting, clients should be aware that IB may route the order to an exchange with a better quoted price but with substantially higher fees. In particular, clients should understand the ECN charges for removing liquidity when sending marketable orders for low priced stocks (under USD 2.50).
    • All exchange, special and other fees are charged on a per-share basis.
    • In the Tiered commission structure, clients may or may not be eligible to receive direct credit for rebates paid for certain types of orders executed at various market centers. For example, IB may receive enhanced rebate payments as a result of exceeding volume thresholds on particular markets, but typically will not directly pass these enhancements to customers. Likewise, IB does not pass to customers all of the rebates IB may receive for orders in pink sheet or OTCBB stocks.
    • Please note that directed API orders cannot use the Tiered fee structure. Smart-routed API orders can use either the Tiered or Fixed structure.
    • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
    • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
    • If IB receives a rebate payment for a pink sheet or OTCBB execution, this rebate is not passed to the clients.
    • Accumulate/Distribute and Scale Orders will be subject to standard IB Order minimums for each new slice of the algorithm which is submitted.


    Lite


    Lite is the hassle free way to trade in the US and other eligible countries.

    We offer unlimited, commission-free trading on US exchange-listed stocks and ETFs,2 as well as low cost access to global markets without required account minimums or inactivity fees.

    If that is not reason enough, we pay competitive interest on your idle cash balances, let you earn extra income in our Stock Yield Enhancement Program and offer low financing rates for borrowing against your account.

    Start on the path to financial freedom with an Lite account.

    Unlimited, Commission-Free Trading

    Lite offers clients unlimited, commission-free trading on US listed stocks and ETFs, with low pricing on other products.3


    No Account Minimums or Inactivity Fees

    Whether you are new to investing or a seasoned investor, you shouldn’t have to pay your broker to hold your money. Lite Clients are not required to maintain account minimum balances and are not charged minimum activity fees.


    Competitive Interest Rates

    Earn competitive interest4 on the idle cash in your account and borrow against your account.


    Earn Extra Income

    Lite Clients can join our Stock Yield Enhancement Program. The Program lets IBKR borrow your fully paid stock in exchange for cash collateral. IBKR then loans the stock and shares half the interest earned with you. However, since it is your stock you can still trade your loaned stock with no restrictions.



    Lite

    Lite is best for retail investors, including financial advisors trading on behalf of their retail clients.1 IBKR Lite provides commission free trading in US exchange-listed stocks and ETFs, low cost access to global markets, no account minimums and no inactivity fees.

    Pro

    Pro is the traditional IBKR plan designed for sophisticated investors. IBKR Pro offers the lowest cost6 access to stocks, options, futures, forex, bonds and funds on over 125 markets in 31 countries.

    FeaturesLitePro
    Commissions
    US Exchange-Listed Stocks / ETFsCommission-free1Fixed or Tiered Pricing
    Other Stocks / ETFsFixed PricingFixed or Tiered Pricing
    OptionsFixed Pricing2Fixed or Tiered Pricing
    FuturesFixed PricingFixed or Tiered Pricing
    Forex
    Tiered PricingTiered Pricing
    BondsTiered PricingTiered Pricing
    Mutual FundsFixed PricingFixed or Tiered Pricing
    Account Fees
    Minimum BalanceUSD 0USD 0
    Maintenance FeeUSD 0Up to USD 10 per month (less commission paid that month)
    Interest Paid on Idle Cash Balances3
    Benchmark minus 1.5% Benchmark minus 0.5%
    Interest Charged for Margin LoanBenchmark plus 2.5%Begins at Benchmark plus 1.5%, with lower rates for higher loan values.4
    Eligible Accounts:
    Retail Investors5
    Institutional Accounts6
    Advisors78
    Introducing Brokers91011
    Account Features:
    Stock Yield Enhancement Program
    FDIC Promontory Program
    Market Data - US Listed Stock/ETFs
    Free non-consolidated, real-time streaming data* for primary exchangesLow-cost data bundles and
    a la carte subscriptions available.
    Market Data - Other Products
    Low-cost data bundles and
    a la carte subscriptions available.
    Low-cost data bundles and
    a la carte subscriptions available.
    Outside Regular Trading Hours12
    07:00 - 20:0004:00 - 20:00
    Trading Technology:
    Client Portal
    Mobile
    IBot
    Trader Workstation (TWS)
    IBKR Web Trader
    IBKR APIs
    Algos1
    Condition Orders &
    Advanced Order Types
    1
    Paper Trading
    Mutual Fund / ETF Replicator
    Risk NavigatorSM
    Back Testing

    Included

    1. IBKR Lite is meant for retail investors, including financial advisors trading on behalf of their retail clients. IBKR reserves the right to reject any IBKR Lite order or series of orders if IBKR determines the order(s) appear to show non-retail trading behavior. At the time an order is rejected, the client will be automatically presented the option to resubmit the rejected order on a Fixed commission basis.
    2. Where available in North America.
    3. Accounts with a NAV of less than USD 100,000 (or equivalent) will be paid at a rate proportional to accounts with a NAV of USD 100,000 (or equivalent) or more. The proportion is determined by the ratio of the account’s NAV to USD 100,000 (or equivalent). The negative rate applied to accounts holding these currencies is the same regardless of account size.
    4. For more information, see ibkr.com/interest
    5. Retail Investors includes individuals, joint, UGMA/UTMA, retirement and trust accounts.
      1. Standalone trust accounts with legal entity trustees are not eligible for IBKR Lite
    6. Institutional Accounts are defined as any hedge funds, proprietary trading group or organizational type accounts
    7. Advisors include all registered financial advisors, non-registered financial advisors, and Friends and Family advisors.
    8. To be eligible for IBKR Lite, advisors must be US domiciled and must have:
      1. Less than 15% of client accounts outside the US
      2. Less than 15% of client equity outside the US
      3. Less than 15% of client accounts as organization accounts
      4. No client accounts from Israel
      5. No partitioned client accounts
      6. No Separate Trading Limits (Proprietary Trading) accounts
    9. Introducing Brokers includes all Fully Disclosed and Non Disclosed accounts.
    10. Introducing Brokers cannot have both IBKR Lite and IBKR Pro clients under the same account structure. Separate accounts structures are required to facilitate.
    11. Introducing Brokers on the IBKR Lite plan cannot support the follow ing type of client sub accounts:
      1. Israel is the country of legal residence of the account holder
      2. Partitioned client accounts
      3. Three-tier hierarchies (no advisor or STL proprietary trading accounts)
      4. OMS clients
    12. Regular trading hours for IBKR Lite and IBKR Pro are 09:30 – 16:00
    • * Excludes pink sheet data.
    • † Will be available in December 2019 for a charge.
    • ‡ Will be available in December 2019.

    We understand your investment needs change over time. You can switch between the IBKR Lite and IBKR Pro plan at any time. Your first three reclassifications are processed on a daily basis while subsequent reclassifications happen on a quarterly basis.

    Margin borrowing is only for sophisticated investors with high risk tolerance.
    You may lose more than your initial investment.

    1. All sell orders are subject to small fees to offset the transactions fees imposed by regulators on the firm. For more information, see ibkr.com/liteinfo
    2. The IBKR Lite pricing plan can only be applied to the following account types: Individual, Joint, Trust and IRA. While investment advisors cannot sign up for IBKR Lite, they are free to encourage their clients to do so if appropriate.
    3. IBKR Lite provides commission-free trades in US exchange-listed stocks and ETFs routed to select market makers. IBKR may charge non-commission related fees. Trades in non-exchange-listed US stocks (e.g., Pink sheet and OTCBB) are subject to IBKR’s standard commission scheduled. For more information, see ibkr.com/liteinfo
    4. Accounts with a NAV of less than USD 100,000 (or equivalent) will be paid at a rate proportional to accounts with a NAV of USD 100,000 (or equivalent) or more. The proportion is determined by the ratio of the account’s NAV to USD 100,000 (or equivalent). The negative rate applied to accounts holding these currencies is the same regardless of account size.
    5. For more information on IBG’s financial strength, see ibkr.com/safety
    6. For more info, see ibkr.com/compare.
    • Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.


    Yes, clients will be liable for the monthly activity fee if they were under the IBKR Pro offering at any time during the month.

    Yes, IBKR Lite clients can use IBKR Mobile.

    There is no free trial account available for IBKR Lite. Once you have opened an IBKR Lite account, you would be eligible to open a paper trading account.

    No, IBKR Lite clients cannot use the WebTrader trading platform.

    For negative rate currencies, IBKR Lite clients will get the same benefit as IBKR Pro clients of not being charged interest on the first tier. However, IBKR Lite clients will be charged on Tier 2 balances at a rate of the IBKR Pro rate minus 1%.

    Let’s take the next step together IUR is committed to helping you..

    Open an Account