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any broker that allows 1 login for multiple accounts
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any broker that allows 1 login for multiple accounts

  #1 (permalink)
Trading Apprentice
new york NY USA
 
Futures Experience: Intermediate
Platform: Tradestation, interactivebrokers
Favorite Futures: stocks
 
Posts: 2 since Mar 2014
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any broker that allows 1 login for multiple accounts

Hello all,
I have an IB account and love interactive Brokers. It allows me to have 1 login where I only click once to buy a stock and all accounts, which are different individuals, will follow the buy order. Problem is interactive brokers only allows 15 accounts under 1 login?

My question is: is there another company that provides such a mechanism?

I am only an individual investor and has no institutional backup.

Please educate and shoot me an email or reply here.

Thanks so much.
stocksguy66
stocksguy66 [AT] yahoo [DOT] com
(account too new to post email)

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  #2 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
Favorite Futures: ES / 6E / 6B / CL
 
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stocksguy66 View Post
Hello all,
Problem is interactive brokers only allows 15 accounts under 1 login?
My question is: is there another company that provides such a mechanism?
I am only an individual investor and has no institutional backup.

I think if you trade more than 15 accounts you are considered Professional and a different price structure for data and broker fees apply.

That may be the reason you can't do that with your current account type.

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  #3 (permalink)
Trading Apprentice
new york NY USA
 
Futures Experience: Intermediate
Platform: Tradestation, interactivebrokers
Favorite Futures: stocks
 
Posts: 2 since Mar 2014
Thanks: 1 given, 0 received

Yes, but


Yes thanks. The thing is I dont want to be registered as a professional because I'm concerned about laws.

So I am seeking a way, such as opening a different account at a different broker or use some software that can bundle accounts together, to trade like an advisor account in IB.

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  #4 (permalink)
Trading for Fun
Nicosia, Cyprus
 
Futures Experience: Advanced
Platform: X_Trader Pro, TWS, CQG, Sierra Charts
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@stocksguy66

You are allowed to have max 15 customers (or $26M AUM) under federal rules. If you have more than 15 customers (or exceed $26M AUM), you have to register as an RIA (registered investment adviser). This is exactly the point with your broker.


Last edited by Alphachase; March 14th, 2014 at 08:09 PM.
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  #5 (permalink)
Elite Member
Manchester, NH
 
Futures Experience: Beginner
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: Stocks
 
Posts: 902 since Jul 2012
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I'm not a lawyer and can't qualify any legal advice, but from what I know:

You can probably achieve some degree of pyramiding of the funds while complying with any look-through provisions, effectively increasing your number of individual "investors". It depends on the distribution of sizes of investments. But the accounting costs generally pile up in this structure and you might as well form a single pooled entity.

Generally, people try to avoid registering as an RIA for as long as they can, even after they go past $100M in hard dollar "AUM". You do so by discounting AUM that does not meet the definition of "regulatory capital" stipulated in Form ADV part 1.

In most case cases, registering as an RIA is a function of business development, not a function of AUM or number of investors. The due diligence checklist of the largest sources of institutional capital (charities, endowments etc.) generally includes SEC registration, so if you are reaching the size where you start to seek institutional capital, you will end up registering as an RIA to get their business. It just happens that this size that I'm speaking of is often in the order of >$100M.

Edit: Regarding the number of investors - the governing law is the 1940 Investment Act. The goal of keeping your number of investors down is to avoid having to register as a mutual fund, which comes with all kinds of compliance issues. If you're not going after institutional capital, you can probably claim exemption under Section 3(c)1, which limits you to 100 investors.

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  #6 (permalink)
Market Wizard
virginia
 
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stocksguy66 View Post
...

I am only an individual investor and has no institutional backup.

Please educate and shoot me an email or reply here.

Thanks so much.
stocksguy66
stocksguy66 [AT] yahoo [DOT] com
(account too new to post email)

there is no good reason for an individual investor to have more than 10 accounts.

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