Orders can easily be allocated across accounts based on specified ratios, and the IB trade blotter is adequate for managing up to 15 accounts. Commissions are quite low, even for a discount broker. With the IB program, data costs are waived so long as a pre-defined number of monthly trades are executed across accounts. This is not meant as an endorsement or infomercial for IB, any similar broker-sponsored program should work equally well. ![]() One way to get started is with the Interactive Brokers (IB) family and friends program, enabling a trader to manage up to 15 accounts without having to register as an investment advisor. Managed accounts provide an ideal way to make this determination, and offer several advantages, centered on simplicity and low operating costs. Managed accountsīefore incurring the significant legal and administrative fees required to set up a business, it's useful for traders to determine whether they have the temperament and attention to detail required to run a business. In this article, we provide an overview of various trading business structures, their benefits and drawbacks. The cost and effort to establish a business can be significant, depending on how the organization is structured and what the objectives are. Setting up an algorithmic trading business can provide the requisite credibility and legal structure to manage institutional funds or cater to high net worth investors. In this detailed post Frank takes a look at the different ways in which an algorithmic trading business can be established-and why you might want to consider it. This is the second in a series of posts written by Frank Smietana, an expert guest contributor to QuantStart.
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