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Duration: 5:19

Level: Beginner

In this lesson we will show you what you need to know when you open your account at Interactive Brokers.

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Study Notes:

Welcome to IBKR, this orientation course will assist you with:

Getting Started – We recognize that, should you choose to bring your brokerage account to Interactive Brokers, you will have many questions. We’re here to help answer those questions and to point you in the right direction to help you find the right resource to resolve your issues.

What does IBKR do? – Interactive Brokers is a major electronic online broker with more than a million clients around the world. We offer electronic access to markets allowing customers to trade stocks, options, futures, forex, bonds and more from a single universal account at low and transparent costs using our award-winning Trader Workstation platform.

What do you do? – You might be an individual investing occasionally, or a professional and frequent trader. You might be an institutional investor or allocating on behalf of friends or family. Or you might be running an Advisory business.

What do you need to get up and running?

  1. First, open an account from the IBKR web site
  2. Upon account approval, you will need to fund your account
  3. Learn how to access Trader Workstation and how to configure it
  4. Subscribe to market data
  5. Configure the appropriate trading privileges for asset classes and exchange venues that you wish to trade
  6. Learn how to access your statements and reports
  7. And – If you are an Advisor client, you will want to know how to access manage your clients and prospects using the CRM tools that are a standard feature of your account

None of this is complicated, but as a new client, we want you to understand where you can perform these functions and know what resources are available to help you on this new journey.

IBKR Website – You will find much of the information you need to at, but we want to take time during this Orientation course to make sure you know precisely where to look to find the right information.

In a moment we will talk about the Traders’ Academy, IBKR’s free online courses about the platforms. But let’s first look at the Support page, where many common FAQs have already been answered.

FAQs – Locate the Support section in the navigation bar at the upper right of any page on the website to reveal a dropdown menu. Make your selection. Notice the prominent search bar at the top of the page is designed to answer any questions that you may have, but below that are some of the most common such as:

  1. How do I transfer funds to IBKR?
  2. Is there a minimum deposit required? And:
  3. How do I subscribe to market data.

Click any question to find the solution.

Let’s start with How do I open an Interactive Brokers account? Right in the middle of the page. Clicking here takes you to a neatly laid out page, part of the Frequently Asked Questions (FAQs) database, explaining how to open an account, what you’ll need and next steps.

On the left menu, you will see topic categories listed to help you. Above the question you will see exactly where you are within the category menu. In this case we have landed under the Category of New Accounts/Applications and Assistance with Application. Notice that this Category has expanded to reveal your location.  You can return to those common questions on the prior page or just follow the Category sections from here.

Look out for hyperlinks for more information about a term or process. Below the body of each response is a section for Additional Information containing links to relevant pages. You’ll want to view any Notes that are mentioned below this section.  At the bottom of the page, you will also find closely related questions and responses to help you navigate to the right answer.

If we navigate back to the common questions on the support page and select How do I transfer funds to IBKR you will see a  Short Video aimed to walk you through the process.

If you are ready to open an account with IBKR, you will see a prominent red button to the upper right of any page. If you already submitted an application, be aware that your account has to be approved and to check on the status of your application, refer to those commonly asked question from the Support page, access How do I open an account and click the link labeled Check on Application Status on the left menu. And if your account is already approved, you might want to test-drive the Trader Workstation platform, see the FAQ for How do I open a paper trading account?

Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Supporting documentation for any claims and statistical information will be provided upon request.

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

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