FAQ

Funding

You may only transfer funds from an account that bears your name exactly. Transferring funds from an account under a different name will cause the funds to be rejected.


Speed to Arrive: 4 – 7 business days depending on your bank

Cost: Free*

Account Credit Speed:  4 business days after arrival

Detailed Instructions: Link to Instructions

Special Conditions: The ACH deposit limit is $100,000 over seven business days. Only available for US currency deposits in an account in your name at a US bank. ACH transfers can be initiated at your bank or via Account Management. Customers initiating the transfer from Account Management must be enrolled in the security device program.

Important: If you plan to initiate the transfer at your bank, you must first create a deposit notification online in Account Management. This is to ensure that your funds are credited to the correct account without delay.

*We do not charge any fee to receive deposits by any method including ACH transfers. Check with your bank about possible outgoing ACH transfer fees.


Speed to Arrive: Depends on the speed of the mail service you choose to use. Overnight delivery carriers may be used.

Cost: Free

Account Credit Speed: Cashiers checks/certified checks are credited immediately upon arrival. Personal checks are credited to your account after 7 business days.

1) How to Make Out Your Check

  •  The check must be payable to Interactive Brokers LLC
  • The check must be drawn from an account in your name
  • Write your Account Number on the check (you can use the memo line)
  • Sign and date your check

2) Create a Deposit Notification Online in Account Management

3) Send in Your Check Along with the Printed Confirmation

  • The mailing address is on the confirmation you printed

Speed: Same Day (When sent from a U.S. Bank), 2-3 business days (International banks)

Cost: Free. We do not charge any fee to receive deposits by any method including wire transfers. Check with your bank about possible outgoing wire transfer fees.

Account Credit Speed: Credited to your account immediately on arrival

Detailed Instructions: Video Instructions

Overview: Sending a wire is the fastest way to fund your account. Create a deposit notification online in Account Management prior to initiating the transfer of funds. We have to know whats headed our way! After that, you must contact your bank directly to initiate the transfer. Specific wire instructions will be provided to you during the deposit notification process and vary based on the currency being sent. Click here for a list of funding currencies.


Your financial advisor can request a withdrawal on your behalf, however the advisor can only use the banking instructions which you have created in Account Management.
Note that checks will only be made payable to the client, and electronic transfers will be made only to an account in the client’s name.

The answer is the same for Traditional and Roth IRAs:

  • If you are under 50 years of age at the end of 2014: $5,000
  • If you are 50 years of age or older before the end of 2014: $6,500

Keep in mind that your IRA contribution can not be more than the amount of your taxable compensation for 2014. Your contribution can be split between a Traditional and a Roth IRA, but having both types of accounts does not increase the amount you can contribute. Also, rhe maximum contribution to a Roth IRA and the maximum deductible contribution to a Traditional IRA may be reduced depending upon your modified adjusted gross income (modified AGI). Lean more at at the IRS website.


Here are the currencies that you can use to fund your account:

 

AUD, CAD, CHF,

CNH, CZK, DKK,

EUR, GBP, HKD,

HUF, INR, JPY,

MXN, NOK, NZD,

SEK, SGD, USD

 

Note that deposits improperly routed to a bank account that has not been designated to accommodate deposits in your selected currency may be rejected or automatically converted to the local currency based on the policies of the bank. As we are unable to assume the risk of such errors, be sure to provide your bank with the correct routing instructions displayed when your Deposit Notification is created.


New Accounts

Yes. Please click here for a list of countries where our services are available.


Once all account application materials have been received, the application will be reviewed and a decision will be made to either accept or decline the account. An email will be sent to the applicant informing them of the decision. In addition, you may log into Account Management to view your latest status.

If you no longer work at the employer where your 401(k) was set up, you are eligible to convert your 401 (k) into an IRA account. This is usually a smart move because investment choices within a 401(k) are typically very limited and may have higher fees compared to the wider universe of strategies and funds that can be used in an IRA account.

To roll over a 401(k) into an IRA, first open an IRA account on our website. Once your IRA account is open, you should contact your 401(k) provider and instruct them to send a check for the entire value of your 401(k). The check should be made payable to Interactive Brokers LLC and should reference your account name and your IRA account number. Learn more about check deposits here.

However, we can not manage 401(k) accounts if you are still at your employer and contributing to it.

 

 


Yes, but there’s no commitment to keep your account open for any particular period of time. The contract is simply to clarify what each party’s responsibilities are. You can cancel at any time without a penalty.

Here’s a copy of our Investment Advisory Agreement (contract).


You can close your account with anytime without penalty. Simply give us a call or send us an email. We will sell any open positions and all your funds will be available for withdrawal to your bank within 3 business days.


General

Yes. Customer securities accounts at are protected by the Securities Investor Protection Corporation (“SIPC”) for a maximum coverage of $500,000 (with a cash sublimit of $250,000) and under an excess SIPC policy with certain underwriters at Lloyd’s of London for up to an additional $30 million (with a cash sublimit of $900,000) subject to an aggregate limit of $150 million. Futures and options on futures are not covered. As with all securities firms, this coverage provides protection against failure of a broker-dealer, not against loss of market value of securities.

For the purpose of determining an Interactive Brokers LLC customer account, accounts with like names and titles (e.g. John and Jane Smith and Jane and John Smith) are combined, but accounts with different titles are not (e.g. Individual/John Smith and IRA/John Smith).

SIPC is a non-profit, membership corporation funded by broker-dealers that are members of SIPC. For more information about SIPC and answers to frequently asked questions (such as how SIPC works, what is protected, how to file a claim, etc.), please refer to the following websites:

http://www.SIPC.org
http://www.finra.org/InvestorInformation/InvestorProtection/SIPCProtection/index.htm

or contact SIPC at:

Securities Investor Protection Corporation
805 15th Street, N.W. – Suite 800
Washington, D.C. 20005-2215
Telephone: (202) 371-8300
Facsimile: (202) 371-6728


As a registered investment, we are prohibited from posting on our website marketing material that includes any statement by a former or present client that endorses our advisory services or refers to the client’s favorable investment experience with us. This also applies to linking to such a testimonial if one of our clients posts such an endorsement on another website. We’re careful to comply with the regulations regarding this restriction. You’re always free to email us privately at info@pattonim.com or send a message on the contact page.


We have selected Interactive Brokers as our preferred prime broker and custodian of client assets. Interactive Brokers was chosen based on of quality of execution, industry leading trading software platform, and award winning commission rates. Interactive Brokers is the largest electronic broker based on daily average revenue trades.

 

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations.  Interactive Brokers does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Patton Investment Management LLC.   Interactive Brokers provides execution and clearing services to customers.  None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website. For more information regarding Interactive Brokers, please visit www.interactivebrokers.com


No.  A hedge fund is a pooled investment vehicle. While our dynamic trading strategies reflect an approach used by many hedge funds, we are not a pooled investment vehicle; we offer separately managed accounts. In other words, each client has an account in their own name and we manage a personalized portfolio based on their individual goals and risk tolerance.