Interactive Brokers offers a full suite of robust reporting software for Introducing Brokers to pull standard statements, create custom reports, enable automatic statement delivery, and provides access to IBKR’s PortfolioAnalyst.
Most of the reporting features are accessed from the Performance & Reports menu in the Broker Portal. Selecting Statements from the menu opens the main reporting page where brokers can use the tabs across the top to access Statements, Flex Queries, Advisor Reports, Other Reports, and Tax documents.
Use the blue pill at the top of the page to select the account or group of accounts the report will be run for. To generate any of the Default Statements, click the blue Run arrow and select the period, date, format, and language for the report.
If the default statements do not meet the broker’s needs, the broker can create custom reports which can be edited, deleted, or run at any time. Click the plus sign in the right corner of the Custom Statements panel to configure a new report.
The broker can enter a name for the report and select the sections to be included, such as Commission Details and Trades. Select any desired Section and Delivery Configurations and click Continue to review the custom report before clicking Create. The newly created report will be reflected in the Custom Statements panel.
Both Default and Custom Statements can be enabled for automatic delivery to the broker. However, the broker can only configure the Default Statements to be delivered directly to the client.
The Statements Delivery panel configures the delivery of the report to the broker user, whereas the Client Statements Delivery panel configures reports to be sent directly to the client.
The Flex Queries tab allows the broker to configure highly customized reports that are XML, CSV, or Text formatted statement files that let the broker specify the exact data fields and the order in which the fields appear on the report. A Flex Query is different from the default Activity Statement or a Trade Confirmation Report because brokers can customize a Flex Query at the field level, allowing the broker to include and exclude detailed field information. Customized Activity Statements only allows the broker to include and exclude entire sections.
For example, the Broker can create a custom Activity Flex Query by clicking the plus sign in the upper right corner of the Activity Flex Query panel. Enter a name for the query and select from the sections to be included, such as Open Positions. Once a section is selected, a window will appear where the broker can select the data columns to include in the report by checking the boxes to the left.
The broker can change the order that the data fields are displayed in the report by clicking and dragging the three horizontal lines to the right. Once the sections and data columns have been selected, the broker can enter the desired delivery and general configuration settings for the report. Click Continue to review the Flex Query before clicking Create.
Similar to Custom Statements, the Flex Queries can be enabled for automatic delivery to the broker.
PortfolioAnalyst is a powerful analytical tool housed within Broker Portal that consolidates, tracks and analyzes the client’s complete financial performance. Clients can link their external investment, checking, savings, annuity, incentive plan, and credit card accounts to understand their current financial state and plan for the future. The PortfolioAnalyst reports can be used to compare the client’s portfolio allocation and performance to over 300 benchmarks. If a standard benchmark does not provide an adequate basis for comparison, Brokers can also create custom benchmarks with multiple indexes or by weighting multiple ETFs.
For more information on the PortfolioAnalyst and its reporting capabilities, please see the dedicated Traders’ Academy course on PortfolioAnalyst. Additionally, there are educational resources for PortfolioAnalyst integrated directly within the Portal on the Education Center tab.
Groups & Householding
As mentioned earlier, reports can be run for a single client account at a time or for a group, or household, of accounts. Introducing Brokers can manage their groups from the Home Page and by selecting the Groups tab. Existing groups can be edited or deleted.
Brokers can create a new group by clicking the plus sign in the upper right corner, entering a name for the Group, and selecting if it is a private group. Private groups will only be visible and editable by the user that created it, whereas public groups are visible to all users on the master broker account. Afterwards, the broker can click Add/Edit Group Members to select the client accounts to be included in the group.
In addition, for accounts that meet the criteria, Brokers can create Households where one member is selected as the head of household, and that member can log in with their username to view reporting and account details for all accounts within the household. Please note that accounts linked within a household will remain separate, segregated customer accounts. Householding simply allows the head of household read-only access to reporting and certain account information for the other accounts in the household.
To view or create households, click the blue Manage Households button towards the upper right of the Groups screen. To add a new household, click the plus sign and enter a name for the household. Add the accounts similar to creating a new group and click Continue.
Once the new Household request is submitted electronically, the Establish Head of Household form will need to be completed. If changes are made to an existing household, the Change Head of Household form will need to be completed.
Broker Exception Reports
In addition to the highly customized reports already accessible in the Broker Portal, IBKR also provides Introducing Brokers with the following Broker Exception Reports:
- Incoming Stock Transfer Report: A list of any securities transfers that were transferred into a client account from an external source.
- Small and Micro-Cap Trade Blotter: A list of trades done by the broker’s client accounts where the share price was less than USD 5.00.
- Customer Information Change Report: A list of all informational changes the clients of a broker made on the previous day, including address changes.
- Top 40 Accounts: A list of the top 40 clients with the largest PNL gains and commissions.
*Note this report is not currently generating and is being re-written.
- Cashier Transaction Blotter: A list of deposits and withdrawals for the broker’s client accounts.
- Foreign Bank Certification Review Report: A list of any client accounts that have declared themselves to be foreign banks.
- OFAC and World Check Reports: This includes checks against the global sources from OFAC and World Check, as well as OFAC and World Check Reports that have occurred and were processed in the last 21 days for each open cleared sub account of the Introducing Broker master account.
- Account Information and CIP Opening Document Reports: The account information reports are accounts generated for any newly approved client that have been approved between the previous trading day and the day the report is run for. They do not cover existing client accounts that were approved before the broker signed up for the FINRA 4311 reports. Reports include information such as name, address, org info, etc. They include the basic account information, the entities on the account, TWS users with associated entities, and World Check/Equifax Checks if applicable. Opening CIP documents used for AML purposes are provided on the same schedule as the account information reports. These CIP documents if required for an account, may include copies of a driver’s license, passport, utility bills etc.
- Politically Exposed Clients: These reports show any sub accounts of the Introducing Broker master account that are marked as PEP as determined by Compliance. Typically, if an account has an OFAC or World Check positive match for a PEP, Compliance will mark the account as such.
These reports are delivered via secure FTP. To request delivery of these reports, please contact our Sales Engineering team at [email protected].
PortfolioAnalyst & Investing Reporting
Disclosure: Interactive Brokers
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