FinancialInformation

  • Provide the net worth, liquid net worth, and annual net income of the applicant.

  • Fully Disclosed Client (Individual, Joint, Retirement, Org, Trust)

  • Advisor Client (Individual, Joint, Retirement, Org, Trust)

  • Individual: AccountHolder

  • Retirement: AccountHolder

  • Joint: JointHolders

  • Org: Organization

  • Trust: Trust

There are two options for providing FinancialInformation:

Option 1:Provide an absolute value.

    • Any value over 100 is considered as absolute. Error will be triggered IF the value is less than 100.

    • If absolute number is provided:

      • System converts the data provided in the FinancialInformation node using the base_currency specified within the <Account> node to a range ID.

      • When validating the FinancialInformation against the IBKR’s Financial Minimum our system uses the lower bound value for the range_id

        • Our system converts lower bound value of the range_id from base_currency to IB Currency to validate eligibility for requested capabilities.

          • IB Currency

            • IBLLC = USD

            • IB-UK = GBP

            • IB-CE, IB-IE = EUR

            • IB-HK = HKD

            • IB-AU = AUD

            • IB-CAN = CAD

    • The SOIQuestionnaire will be assigned IF the below conditions are met:

      1. EmploymentType = UNEMPLOYED, RETIRED, HOMEMAKER, STUDENT, or INTERN

      2. annual_net_income > $20,000 OR annual_net_income / net_worth > 20%

      This task is assigned if the net income is higher than expected for applicant’s employment status. IBKR will require the applicant to provide an explanation of the source of their taxable net income.

  • XSD

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    <xsd:element name="FinancialInformation" Use="Required" minOccurs="1" maxOccurs="1" />
    <xsd:sequence>
     <xsd:attribute name="net_worth" type="Non-negative integer value" use="required" />
     <xsd:attribute name="liquid_net_worth" type="Non-negative integer value" use="required" />
     <xsd:attribute name="annual_net_income" type="Non-negative integer value" use="required" /> 
    </xsd:sequence>
    <xsd:element name="SOIQuestionnaire" type="details" use="optional" />
    <xsd:attribute name="details" type="String" use="Required" />

    Parameters

    Name

    Type

    Description

    net_worth

    Non-negative integer value

    The total value of all assets you own, less what you owe (including all mortgages and debts).

    Your Net Worth cannot be less than your Liquid Net Worth.

    If absolute value is provided, minimum value accepted is 101; maximum value accepted is 50000001

    liquid_net_worth

    Non-negative integer value

     

    The total value of any assets you own that can be quickly converted into cash.

    If absolute value is provided, minimum value accepted is 101; maximum value accepted is 5000001

    annual_net_income

    Non-negative integer value'

     

    The total amount of your earnings for one year minus any taxes or other deductions taken from your pay. These other deductions could include health insurance, retirement contributions, court ordered judgements or support payments.

    If absolute value is provided, minimum value accepted is 0; maximum value accepted is 1000001

    details

    String

    Maximum of 350 Characters. Provide Description of Sources of Income.

  • Copy
    Absolute Value
    <FinancialInformation net_worth="700000" annual_net_income="250000" liquid_net_worth="300000" >
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    SOIQuestionnaire 
    <EmploymentType>UNEMPLOYED</EmploymentType>
    </AccountHolderDetails>
    <FinancialInformation annual_net_income="10000" liquid_net_worth="50000" net_worth="75000">
    <SOIQuestionnaire details="test description here" />
    <SourcesOfWealth>
     <SourceOfWealth percentage="100" source_type="SOW-IND-Allowance" is_used_for_funds="true"/>
     <SourceOfWealth description="Enter Description Here="SOW-IND-Other" is_used_for_funds="false"/>
    </SourcesOfWealth>

Option 2: Provide an interval range (range_id)

    • Eligibility for Trading Permissions and Account Type (Cash, Margin, Portfolio Margin) is validated against Financial Information Provided. Financial Minimums

    • For Applications submitted to IBKR via XML, FinancialInformation is collected in the currency which is associated with the IBKR entity.

    • When validating the FinancialInformation against the IBKR’s Financial Minimum our system uses the lower bound value for the range_id.

      • Our system converts lower bound value of the range_id from base_currency to IB Currency to validate eligibility for requested capabilities.

        • IB Currency

          • IBLLC = USD

          • IB-UK = GBP

          • IB-CE, IB-IE = EUR

          • IB-HK = HKD

          • IB-AU = AUD

          • IB-CAN = CAD

    • range_id can only be used for the following currencies:

    • AUD  GBP  KRW PLN USD
      CAD  HKD  MXN RUB  
      CHF  ILS  SEK SGD  
      EUR  JPY NZD TRY  

    • The SOIQuestionnaire will be assigned IF the below conditions are met:

      1. EmploymentType = UNEMPLOYED, RETIRED, HOMEMAKER, STUDENT, or INTERN

      2. annual_net_income > $20,000 OR annual_net_income / net_worth > 20%

      This task is assigned if the net income is higher than expected for applicant’s employment status. IBKR will require the applicant to provide an explanation of the source of their taxable net income.

  • XSD

    Copy 
    <xsd:element name="FinancialInformation" Use="Required" minOccurs="1" maxOccurs="1" />
    <xsd:sequence>
     <xsd:attribute name="net_worth" type="range_id" use="required" />
     <xsd:attribute name="liquid_net_worth" type="range_id" use="required" />
     <xsd:attribute name="annual_net_income" type="range_id" use="required" /> 
    </xsd:sequence>
    <xsd:element name="SOIQuestionnaire" type="details" use="optional" />
    <xsd:attribute name="details" type="String" use="Required" />

    Parameters

    Name

    Type

    Description

    net_worth

    range_id: Pull directly using /getEnumerations 'FIN_INFO_RANGES'

     

    The total value of all assets you own, less what you owe (including all mortgages and debts).

    Your Net Worth cannot be less than your Liquid Net Worth.

    liquid_net_worth

    range_id: Pull directly using /getEnumerations 'FIN_INFO_RANGES'

     

    The total value of any assets you own that can be quickly converted into cash.

    annual_net_income

    range_id: Pull directly using /getEnumerations 'FIN_INFO_RANGES'

     

    The total amount of your earnings for one year minus any taxes or other deductions taken from your pay. These other deductions could include health insurance, retirement contributions, court ordered judgements or support payments.

     

     

    details

    String

    Maximum of 350 Characters. Provide Description of Sources of Income.

  • Copy
    range_id
    <FinancialInformation net_worth="6" annual_net_income="3" liquid_net_worth="4" >
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    SOIQuestionnaire 
    <EmploymentType>UNEMPLOYED</EmploymentType>
    </AccountHolderDetails>
    <FinancialInformation annual_net_income="5" liquid_net_worth="2" net_worth="2">
    <SOIQuestionnaire details="test description here" />
    <SourcesOfWealth>
     <SourceOfWealth percentage="100" source_type="SOW-IND-Allowance" is_used_for_funds="true"/>
     <SourceOfWealth description="Enter Description Here="SOW-IND-Other" is_used_for_funds="false"/>
    </SourcesOfWealth>