Step-by-Step Onboarding Process

Begin by initiating a new client account application in the Advisor Portal. Go to your Dashboard or Contacts page, and click “Add Account” (this is often under a plus + icon or in the menu).

• Choose Application Type: The portal will ask how you want to start the application. Select the method appropriate for your situation (as described in the previous section). For example, to send the client an invite, choose Electronic Invitation, or to enter details yourself, choose Semi-Electronic Application.

• Enter Basic Client Info: Provide the required preliminary information for the new account. At minimum, you’ll input the client’s name, email address, and country of residence. (The email is crucial, as it will be used to send the invitation or link the client to the account.) For semi-electronic applications, you as the advisor will create the client’s username which is used for the life of the account. Note this cannot be changed.

• Select Account Type: Next, specify the account type for the client (Individual, Joint, Trust, etc., as discussed earlier). The system will show you the account structure options available based on the client’s region and your advisor registration status. Choose the appropriate type and proceed. (For instance, you might select “Individual” if it’s a single client, or “IRA” if opening a retirement account.) Selecting account type is required during the semi-electronic application but is not a part of the fully electronic - unless the advisor specifically applies a Client Account Template.

• Fill in Application Details: If you opted for a fully electronic invite, at this point IBKR will send the invite to the client and they will fill in the remaining details on their own. You can skip to Step 2 while waiting for the client to complete their part. If you chose a semi-electronic or manual process, the portal will now step you through the full online application form to input the client’s information. This includes personal information, financial profile, regulatory questions, etc., just as the client would see on their end. Take your time to enter everything accurately. The interface is user-friendly and will prompt you for all required fields (like address, employment, investment experience, and so on).

Note: IBKR allows bundling multiple account openings for the same client in one go. For example, if your client wants both an Individual taxable account and an IRA, you can start both applications together and send them as one combined package for the client’s review and e-signature. This is optional, but it can streamline onboarding for clients opening more than one account.

After initiating the application, the client will either receive an email (if fully electronic) to continue the process, or you will have a completed PDF ready for signature (if semi-electronic). In either case, the next step is to gather the necessary documents and approvals to accompany the application.

Gather all required information and documentation from the client to meet IBKR’s account opening requirements. The exact documents needed will depend on the account type (and the client’s circumstances), but generally you will need to collect:

• Proof of Identity: A government-issued photo ID for each account holder. Acceptable IDs include a passport, driver’s license, or national ID card (for U.S. persons, typically a driver’s license or passport). For entity accounts, identity documents for the authorized officers or beneficial owners are required (e.g. IDs for directors or trustees).

• Proof of Address: If the client’s address can not be auto-verified, a document confirming the client’s residential address is required. Common examples are a utility bill or bank statement dated within the last 3 months, showing the client’s name and address.

• Tax Identification: For U.S. clients, a Social Security Number (SSN) is required. Non-U.S. clients should provide a valid national tax ID or equivalent. IBKR will prompt for a W-9 form (for U.S. taxpayers) or W-8BEN form (for non-U.S. persons) within the application to ensure proper tax withholding setup.

• Entity Documents (if applicable): If the account is a Trust or Corporate entity, gather the legal documents establishing the entity. For a Trust, this means the trust deed or trust agreement, as well as identification for the trustee(s) and possibly for the trust grantor/beneficiaries as required. For a Corporation/LLC/Partnership, collect the articles of incorporation or formation, business registration certificate, partnership agreement, or similar charter documents. You’ll also need a resolution or letter authorizing the account opening and identifying who will have trading authority (usually, IBKR provides an online form for this during the application). Additionally, all entities must provide information on controlling persons/beneficial owners (names, addresses, DOB, and social security or national ID numbers for any 25%+ owners, in compliance with CIP/KYC rules).

• Other Supporting Info: The application will ask for things like the client’s employment status and employer address, investment objectives, and financial information (income/net worth) as part of the KYC process. Be prepared to gather those details. If the client is transferring assets from another broker, you might also need their existing account number and a recent account statement from that broker (for ACATS transfers).

It can be helpful to provide your client with a checklist of documents to prepare. In many cases, the client will directly upload or input this information if they are completing the online application themselves. As their advisor, guide them through what’s needed (ID scans, etc.) so they can have it ready. If you are using the semi-electronic method, you will be responsible for uploading these documents on the client’s behalf via the Advisor Portal interface.

Documentation requirements example: IBKR’s Customer Identification Program requires, at minimum, a valid photo ID for each individual client (or authorized person) and entity formation documents for trusts or businesses. For instance, an individual client would upload a passport or driver’s license, while a corporate client would upload its Certificate of Incorporation along with IDs of its directors. Ensure the names and addresses on these documents match the information provided in the application to avoid delays.

Typical Documents by Account Type: (for quick reference)

Account Type	Key Documents Required
Individual (or Joint)	Government-issued ID for each individual (passport, driver’s license, etc.); Proof of residential address; Tax ID (SSN or national ID). Joint accounts require documents for both owners.
Trust	Trust agreement/deed; ID for Trustee(s) (and possibly for Grantor, if different); Proof of address for Trustee; Trust Tax ID (EIN or equivalent, if applicable).
Corporate/Entity	Articles of Incorporation or formation document; Corporate resolution or authorization letter; IDs for controlling officers and any significant owners; Entity Tax ID (EIN).
IRA (Retirement)	Same personal documents as Individual (ID, address, SSN); Plus any IRA adoption agreement or beneficiary form (these are completed within IBKR’s online IRA application).
Custodial (UGMA/UTMA)	ID for Custodian (parent/guardian); Proof of minor’s identity or age (e.g. birth certificate may be requested); Minor’s SSN; Documentation of custodianship if not a parent (e.g. court order if applicable).

Make sure all documents are legible and not expired. You (or the client) will upload these through the application interface. IBKR’s portal has a section toward the end of the application where you can attach scans or photos of IDs and other docs. The system will indicate which documents are still outstanding via a checklist. Double-check that each required item is provided to prevent the application from getting held up in compliance review.

Once all information is filled in and the necessary documents are collected/uploaded, it’s time to submit the application to IBKR for approval. The submission process will vary slightly based on the onboarding method:

• Fully Electronic Applications: If the client is completing the online application themselves, they will reach a final Submit step after e-signing the agreements with Docusign. At that point, the application is automatically sent to IBKR. As the advisor, you’ll see the new account listed as “Pending Approval” in your Advisor Portal. Ensure the client has completed all steps and clicked Submit. You will get a notification in the portal (and via email) once they do.

• Semi-Electronic / Paper Applications: If you have a signed PDF or paper application from the client (for example, you used the semi-electronic method), you will need to send the signed application to IBKR for processing. This is typically done by uploading the signed document through the Advisor Portal (there is an upload interface in the Pending Applications section), or by faxing it to IBKR’s new accounts team if instructed. Make sure you include any supporting documents (from Step 2) if they weren’t uploaded yet. You may also send the application package via Docusign. Only after IBKR receives these signed forms and all supporting documentation can they proceed with opening the account.

• Bulk/XML Applications: For mass uploads or API-driven applications, once the data is in the system you may still need each client’s sign-off. In practice, bulk uploads will often trigger individual electronic signature requests to each client. Monitor that each client in the batch completes their portion. After that, you or the system will submit the compiled applications to IBKR. The portal’s Pending Applications screen will list each case and its status.

After submission, the application’s status becomes “Pending Approval”. At this stage IBKR’s compliance team will review the application. Your Advisor Portal provides an Application Status page for each pending client where you can see progress. For instance, you might see statuses like “Documents Received – Under Review” or “Action Required – Additional Info Needed.” On the Application Status page you can also perform some final tasks such as initiating funding (see next step) or uploading any extra documents that have been requested. It’s essentially a control panel for that in-process account.

Pro Tip: IBKR will communicate any issues or required additional steps via the Advisor Portal notifications and message center. Thanks to the advisor service model, messages about the account (e.g. needing a clearer copy of an ID, or confirmation of an employment detail) will be sent to you rather than directly to the client in most cases. This allows you to handle it or reach out to the client yourself. Keep an eye on the “Pending Items” or Messages in your dashboard during this period. If something is flagged, resolve it promptly to keep the onboarding moving.

While the account is pending approval or once it’s approved, you’ll arrange for initial funding of the account. Funding is a critical step – an account may be approved but not fully activated for trading until a minimum funding (if required) is received. Here’s how funding works in IBKR’s advisor setup:

• Funding Methods: IBKR supports a variety of funding methods, including wire transfers, electronic bank ACH transfers (for U.S. accounts), checks (in certain currencies/regions), and full ACATS transfers of assets from another brokerage. The Advisor Portal’s Transfer & Pay section provides all the options and instructions for moving money or assets into the account. You can initiate a deposit notification there. Commonly, for a new client, the simplest method is a wire transfer from the client’s bank. If the client is coming from another brokerage, an ACATS transfer can move all or part of their portfolio into IBKR.

• Advisor vs Client Initiation: For compliance, funding typically must come from the client’s own bank or brokerage account in the same name. As the advisor, you can guide the client on how to do this. The portal lets you send the client funding instructions or create a deposit notification on their behalf. For example, you can generate wire instructions (IBKR will provide a unique reference number and bank details) that the client can take to their bank. You may request transfers on the client’s behalf once the client has signed the full service agreement. Under the streamlined service model, you can input a funding request and the client can approve it via a text message confirmation – a very handy feature.

• Funding Status: After the client initiates the money transfer (or ACATS), you can monitor the progress in the Transfer & Pay > Transaction Status section. IBKR will show when a deposit is received or if an ACATS transfer is in progress. The Advisor Portal will also list any pending funding confirmations. Note that some methods like ACH may take a few business days to clear. The portal provides an overview of all pending and completed fund transfers for both your master account and client accounts.

• Initial Deposit Amount: IBKR generally has no account minimum for standard accounts, but certain account types or situations (like margin accounts or certain currencies) might have minimum funding requirements. Ensure the client’s initial deposit meets any such requirements (if any). As a best practice, have the client fund enough to cover any immediate investments you plan to make plus any fees. If you set up advisor billing (next step) to deduct from the account, make sure there will be sufficient cash.

Once funds are received, IBKR will credit the client account. A new account won’t be able to trade until the funding is in place, so you want to encourage the client to initiate their deposit promptly after approval. The Account Status will update to something like “Funds Received – Account Ready” when everything is set. In the case of ACATS transfers, IBKR will update partial or full transfers in the portal so you can see when positions have arrived.

(IBKR’s website provides a detailed overview of funding methods for reference, covering domestic and international options.)

IBKR’s account approval process can take anywhere from a day to a few days depending on the completeness of the application and documents. During this time, monitor the status through the Advisor Portal:

• Approval Notification: You will receive a notification once the account is approved and opened. The status will change from “Pending” to “Approved” (and a formal account number will be assigned if it wasn’t already). IBKR also sends an email confirmation to both you and the client. At this point, the client will be able to log in to their account (using the credentials set up during the application) and view their account in the IBKR Client Portal, unless you’ve restricted their access (more on that in final setup).

• If Additional Info Is Required: If IBKR needs more information or has issues (for example, a document wasn’t clear or a form is missing), the application status might show as Action Required. You’ll see notes on what is needed. Resolve these quickly – upload any additional documents or corrections via the portal. After resubmission, the clock for approval starts again. The Enhanced Communications means IBKR will usually contact you (advisor) for these fixes rather than bothering the clientinteractivebrokers.com, allowing you to handle it behind the scenes.

• Activation & Trading Access: Once approved and funded, the account is considered active. However, if funding arrives before approval, IBKR will only fully activate the account after both approval and funds clearance are done. You’ll know the account is active when you can see it under your Client Accounts list with an “Open” status and you can view balances. At that point, you can place trades on the client’s behalf (if authorized) or the client can log in and trade (if you permit client trading access).

Before you start trading or scheduling the first review with your client, there are a few final setup tasks to ensure the account is configured to your and your client’s needs. We will cover these next, including setting permissions, branding, and linking fee billing.