 What's happening traders and investors Alex here and today I'll show you guys how to open an interactive broker's account If you already have an account, I'll also show you guys how to open a sub account Which is what I'm gonna do today because I already have my main trading account So when you're opening an account There's a few things you have to know is just which type of account that you need if you're looking for cash or margin And I'll show you guys the difference between the two So I hope you guys gonna enjoy this video if you do like and subscribe also all the tools that I'm using to date Trade and invest will be linked in the description So if you're looking for brokers canner charts and use feed everything will be linked down below The first thing we're gonna do is head over the website and make sure we are on Individual and we're gonna click individual joint or IRA So when you're on this page, you're gonna see that it's gonna talk about the IB care advantage So of course if you're looking to swing trade or invest in the long-term margin rate is something that's important And they have a really low margin rate So I think it's the lowest one out there But something that's really interesting is this second line over here So that means if you own any small cap that's hard to borrow in general So you're long the position other brokers are gonna be able to lend your shares and you're gonna be profiting So example the lend your shares at 4 cents or 10 cent to someone else You're gonna be receiving a part of the commission So that means by just owning or being along the stock So you're pretty much acting as a broker that's lending shares like the typical small cap brokers So the last one that's interesting is the fractional shares. So it lets you own a percentage of a share So example Amazon is trading at $4,000 a share and you only want to have a $2,000 position So you're able to buy half a share, which is something that's interesting if you have a smaller account So now that we know this what we're gonna do is click open an account and start an application Because I do already have an ID care account I won't be able to do it from here, but I'll do it from inside my account Which is creating a sub account and I'll talk about the trading permission that you want If you want to be a bit more active like a day trader or swing trader or even a long-term investor So if you already have an account or you're looking to open a new account, you're gonna go through the same process So if you already have an account click over here go to account setting is gonna bring you to this page And you're gonna click over here open additional account. I already started to create one So what I'll do is finish my application and when you're on this page, you're gonna see that I'm at regular Tories So that means my permission to trade if you're completely new it's gonna be about you So that's gonna be filling up your basic information your job and all this stuff So I'm in this section the second section and I'm gonna choose a margin account There's no reason to just open a cash account because you can have an margin account and just not use the margin So that's what I would do if I would be you if you have less than $2,000 You want to be opening a cash account because if you open a margin account with less than $2,000 But you're not going to be able to trade with it because to have margin you need over $2,000 So when you selected which account you wanted the cash or the margin over here You're gonna have to choose additional product What I recommend is already choose whatever you think you might trade The reason why is if you don't select it up front Then you're gonna have to apply later and ask to upgrade your permission If you just apply it at first it's just easier So I have about four to five year experience trading stars. So I have extensive knowledge Over year options. I do have extensive knowledge in options because I've traded options in the past And also I read a lot. So if you're familiar with product, even if you haven't traded them a lot You could be considered extensive knowledge and it could upgrade your permission I'm going to choose all north america Because this is what I want and also future same thing note america Any future that is tradable in note america. I just want to make sure I have permissions right away The currency exchange is going to be done automatically and something that you want to enroll is the stock yield and answering program This is the hard to borrow stocks So to be able to lend your shares to other broker or other traders for a profit And then he's going to bring you to the next page, which is the agreement page So it's just going to tell you to agree to whatever you selected in your account I'm not going to show this page because there's all my personal information But overall you pretty much just need to sign at the bottom of the page and click next because we already have the IBQ account they should be approved in one or two days But over here we're gonna have a little questionnaire because they want to know why you're adding an account to your overall account So over here, I'm opening this account because I'm trading options So I want to trade option in this account and we're going to click continue So now the application is submitted So we have to wait a couple days for an answer and after that we'll proceed with funding So the next video I'll do about IBQ It's going to be about funding your account and the different way that you can fund it So thanks for watching. I hope you enjoyed if you do like and subscribe. Let me know what you want to see next