AccreditedInvestor
https://[domain]/ws/eca/update
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Update the 'Investor Category' for an existing account.
Who is this applicable for?
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Fully Disclosed Client (Individual, Joint, Retirement, Org, Trust)
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Advisor Client (Individual, Joint, Retirement, Org, Trust)
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Non-Disclosed- NonQI Client (Individual, Joint, Org, Trust)
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Non-Disclosed- QI Client with Trading (Individual, Joint, Org, Trust)
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Non-Disclosed- QI Client with No Trading (Individual, Joint, Org, Trust)
Processing Time
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Requests take 1-2 business days to be reviewed and processed by our Compliance team.
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Use /getAmRequestStatus to check the status of the request.
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Validations
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Individual/Joint/IRA accounts with a net worth of at least $1,000,000 are identified as an Accredited Investor.
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Accredited Investors can update their investor category to Qualified Purchaser or Eligible Contract Participant within IBKR Portal IF their net_worth > 5M USD or equivalent.
Request Parameters
XSD
<xsd:element name="AccreditedInvestor" type="AccreditedInvestor" minOccurs="0" maxOccurs="unbounded" />
<xsd:complexType name="AccreditedInvestor">
<xsd:sequence>
<xsd:element name="QualifiedPurchaser" type="QualifiedPurchaser" minOccurs="0" maxOccurs="1" />
<xsd:element name="EligibleContractParticipant" type="EligibleContractParticipant" minOccurs="0" maxOccurs="1"/>
<xsd:element name="SignedBy" type="xsd:string" minOccurs="0" maxOccurs="unbounded"/>
</xsd:sequence>
<xsd:attribute name="reference_account_id" type="xsd:string" use="required"/>
<xsd:attribute name="status" type="xsd:boolean" use="required"/>
<xsd:attribute name="signature" type="xsd:string" />
</xsd:complexType>
<xsd:complexType name="QualifiedPurchaser">
<xsd:sequence>
<xsd:element name="QualifiedPurchaserDetails" type="QualifiedPurchaserDetails" minOccurs="0" maxOccurs="unbounded"/>
</xsd:sequence>
<xsd:attribute name="status" type="xsd:boolean" use="required"/>
</xsd:complexType>
<xsd:complexType name="QualifiedPurchaserDetails">
<xsd:attribute name="status" type="xsd:boolean" use="required"/>
<xsd:attribute name="code" type="QualifiedPurchaserType" use="required"/>
</xsd:complexType>
<xsd:complexType name="EligibleContractParticipant">
<xsd:sequence>
<xsd:element name="EligibleContractParticipantDetails" type="EligibleContractParticipantDetails" minOccurs="0" maxOccurs="unbounded"/>
</xsd:sequence>
<xsd:attribute name="status" type="xsd:boolean" use="required"/>
</xsd:complexType>
<xsd:complexType name="EligibleContractParticipantDetails">
<xsd:attribute name="status" type="xsd:boolean" use="required"/>
<xsd:attribute name="code" type="EligibleContractParticipantType" use="required"/>
</xsd:complexType>
<xsd:simpleType name="QualifiedPurchaserType">
<xsd:restriction base="xsd:token">
<xsd:enumeration value="InvestmentCompanyAct" />
<xsd:enumeration value="DiscretionaryBasis" />
</xsd:restriction>
</xsd:simpleType>
<xsd:simpleType name="EligibleContractParticipantType">
<xsd:restriction base="xsd:token">
<xsd:enumeration value="DiscretionaryBasis" />
<xsd:enumeration value="HighRisk" />
</xsd:restriction>
</xsd:simpleType>Attributes
|
Name |
Type |
Description |
|---|---|---|
|
reference_account_id |
String |
IBKR account ID of the advisor/broker client account which the Investor Category is being changed for. |
|
SignedBy |
String |
Signature of the Account Holder. SignedBy should be First Name + Middle Initial (If Applicable) + Last Name + Suffix (If Applicable). Data is case and case sensitive. |
|
status |
true false
|
true false |
|
code |
DiscretionaryBasis HighRisk DiscretionaryBasis InvestmentCompanyAct |
Questions to be answered by the account holder in order to process the request. |
Codes
|
Code |
Usage |
Description |
|---|---|---|
|
AccreditedInvestor |
Required |
The answers you provided in your account application indicate that you are qualified as an Accredited Investor (as defined in Rule 501(a) of Regulation D of the Securities Act of 1933). |
|
QualifiedPurchaser |
Optional |
Qualified purchaser: You may be qualified as a Qualified Purchaser (as defined in Section 2(a)(51) of the Investment Company Act of 1940), which would allow you to participate in certain special programs. Would you like to answer a few questions so Interactive Brokers can determine if you may qualify as an ECP? YES/NO |
|
InvestmentCompanyAct |
Required if QualifiedPurchaser=True |
Are you a natural person who owns at least $5,000,000 in investments (as defined in Rule 2a51-1 under the Investment Company Act of 1940)?YES/NO |
|
DiscretionaryBasis |
Required if QualifiedPurchaser=True |
Are you a natural person who is acting for his own account or the accounts of other qualified purchasers and who in the aggregate owns and invests on a discretionary basis at least $25,000,000 in investments? YES/NO |
|
EligibleContractParticipant |
Optional |
Eligible Contract Participant United States regulations impose restrictions on customers who are not Eligible Contract Participants (ECPs) (as defined in Section 1a(12) of the Commodity Exchange Act), which may limit your trading. Click here to learn more about the benefits of being an ECP. The answers you provided in your account application indicate that you may qualify as an ECP. YES/NO |
|
DiscretionaryBasis |
Required if EligibleContractParticipant = True |
Are you an individual, acting for your own account, who has more than $10,000,000 invested on a discretionary basis? YES/NO |
|
HighRisk |
Required if DiscretionaryBasis= False |
Are you an individual, acting for your own account, who has invested more than $5,000,000 on a discretionary basis and your transaction activity is intended to hedge the risk of other assets you have (or that you are reasonably likely to have)? YES/NO |
Sample
<?xml version="1.0" encoding="UTF-8" standalone="true"?>
<AcctMgmtRequests xmlns="http://www.interactivebrokers.com/schemas/IBCust_import">
<AccreditedInvestor reference_account_id="U1234567" status="true">
<SignedBy>John Smith</SignedBy>
<QualifiedPurchaser status="true">
<QualifiedPurchaserDetails status="true" code="InvestmentCompanyAct"/>
<QualifiedPurchaserDetails status="true" code="DiscretionaryBasis"/>
</QualifiedPurchaser>
<EligibleContractParticipant status="true">
<EligibleContractParticipantDetails status="false" code="DiscretionaryBasis"/>
<EligibleContractParticipantDetails status="true" code="HighRisk"/>
</EligibleContractParticipant>
</AccreditedInvestor>
</AcctMgmtRequests>
|
Name |
Type |
Description |
|---|---|---|
|
Execution_Date |
YYYY/MM/DD HH:MM:SS |
Date/Time which the file was processed by IBKR. |
|
Process_File |
FirmName_YYYY-MM-DD_######.xml |
File name of the request file. |
|
Client |
FirmName |
Name of the Counterparty |
|
Client_Master_Acct |
String |
Master account number |
| AccreditedInvestor | String | Status of the request |
| reference_account_id | String | IBKR account ID of the advisor/broker client account which the request is being submitted for |
| request_status |
PROCESSED ERROR PENDING |
Status of the request |
| message | String | Status of the request. |
| request_id | Non-negative integer | Unique ID which IBKR assigns to the request. The ID can be used to query status request at a later time using //getAmRequestStatus endpoint |
| message | String | Includes details on the status of the request IF status=”PENDING" or "PROCESSED " |
| Pending_Tasks | <Tasks> | Includes pending tasks associated with the info change request IF status=”PENDING" |
| Errors | String | Includes error message if status=”ERROR” |
Sample
<?xml version='1.0' encoding='UTF-8'?>
<Process>
<Execution ECA_XML_Schema_Version="15-Nov-2018">
<Execution_Date>2020/02/20 00:44:38</Execution_Date>
<Process_File>TesterFA_2020-02-20_124438885_761126.xml</Process_File>
<Client>TesterFA</Client>
<Client_Master_Acct>F1234567</Client_Master_Acct>
</Execution>
<AccreditedInvestor reference_account_id="U2088007" request_status="PROCESSED" message="Status of the request" request_id="50813"/>
</Process>
<?xml version='1.0' encoding='UTF-8'?>
<Process>
<Execution ECA_XML_Schema_Version="15-Nov-2018">
<Execution_Date>2020/02/20 00:44:38</Execution_Date>
<Process_File>TesterFA_2020-02-20_124438885_761126.xml</Process_File>
<Client>TesterFA</Client>
<Client_Master_Acct>F1234567</Client_Master_Acct>
</Execution>
<AccreditedInvestor reference_account_id="U2088007" request_status="ERROR" request_id="50813">
<Error>Error Message Here</Error>
</AccreditedInvestor>
</Process>
