Statements are generated on a daily, monthly, and yearly basis for all accounts and are available under Statements in Account Management on our website in HTML format. You may generate statements for multiple dates and linked accounts with one click. You may opt to receive statements by email (unsecure) by choosing this option from Email Statements under Account Management.

A daily statement covers all trading activity occurring during products trading hours. For most products, this coincides with exchanges hours, but for some exchanges this might not be the case (e.g. CME equity and fixed income contracts have different closing hours). Daily statements are generally available by 05:00 ET, and monthly statements by 5 business days after the close of a month under normal business circumstances.

Statement Explanation

Our statements were designed top down, with summary account totals on the top peeling down into greater detail on the bottom. The statement is broken into the following sections:

• Account Information
• Total Equity
• Profit/Loss Summary
• Cash & Accruals
• Positions
• Transactions

1. Account Information

The Account Information summarizes the account names, account number, account type (i.e. Independent Trader, Advisor Master, Broker Consolidated, etc.), Customer Type (i.e. individual, partnership, etc.), Account Capabilities (cash or margin), Trading Permissions (i.e. stock, options, etc.) and the base currency of the account (AUD, CAD, CHF, EUR, GBP, HKD, JPY and USD).

2. Total Equity

The Total Equity section shows you equity balances broken down by product. Because futures settle into cash each night, there is never a futures balance. The equity section is split into your securities account balances (cash, stock, option, warrants, and fixed income) and your commodities account balance (cash). There is also a section for each currency as well as a total translated and summed into your base currency.

3. Profit / Loss Summary

Short term and long term categories are based on US IRS rules. For securities, all profit and losses for securities held for up to one year are considered short-term, for over one year holdings long-term. For commodities all daily profit and losses are divided 60 % long-term, and 40 % short-term.

4. Cash & Accruals

Total Cash
Starting Cash
Client Fees	(A)
Commissions	(B)
Deposits/Withdrawals	(C)
Dividends	(D)
Fees	(E)
Interest	(F)
Net Trades	(G)
Payment in Lieu of Dividends	(H)
Transaction Tax	(I)
Withholding Tax	(J)
Ending Cash	(K)
Ending Settled Cash	(L)
Starting Accrual Balance	(M)	0.00
Change in Accruals	(N)	173.25
Accrual Postings to Cash	(O)	-0.00
Ending Accrual Balance	(P)	173.25

The Total Cash and accrual section shows the change in your cash balance over the statement period. Changes to your cash balance include:

A) Client fee (positive for advisor/broker, negative for clients)
B) Commissions (for advisors/brokers this also includes fees per trade unit)
C) Deposits/Withdrawals
D) Dividends
E) Fees (overnight position fees for unbundled futures, notes, order cancel, withdrawal, telephone order, check, stop payment, bounced check, old statement, bust/adjust, market data, and minimum commission fees)
F) Interest (IB Credit, IB Debit, and Fixed Income)
G) Net Trade (includes all trades in the transaction section excluding commissions and prior day gain/loss from open futures positions)
H) Payment in Lieu of Dividends (If you buy a dividend paying stock on margin and we lend that stock, you don't receive dividends but instead a payment in Lieu of Dividend. This is treated as ordinary income)
I) Transaction Tax (stamp taxes charged in European markets)
J) Withholding Tax (IRS or other tax authority directs us to withhold for a customer)
K) Ending Cash (starting cash plus all the change in cash described above. This balance reflects cash from completed transactions and does not include cash which has not yet been settled by the clearing house.)
L) Ending Settled Cash (The actual delivered or received cash from a clearing house to IB. For US stocks it takes 3 business days to settle, and for US options 1 business day to settle.)
M) Prior period starting balance for accrual interest.
N) Change in accrued interest for the current period. Accruals are a forecast of actual interest for the month. Accrued interest is only posted for monthly amounts over $1, which can be positive or negative.
O) Reversal of accrued interest for the month. Interest which is accrued during the month is "backed-out" and actual interest for the month is posted in the transaction section. Reversals occur once a month, and it should be noted that although interest accruals will be close to the actual interest, they will not always be exactly equal because accruals are a forecast of actual interest.
P) Ending Accrual balance for the period.
As with Total Equity, amounts are segregated into securities and commodities for regulatory purposes, and each currency is displayed and translated/totalled to a base currency.

5. Positions

6. Transactions

The Transactions section shows all the detail behind the Total Cash section. The following table shows some of this detail.

A. Securities & Futures Options Trades

All times on the statement are quoted in Eastern Time (ET).

The Stock trades will be displayed for each currency and sorted by descriptions and then dates. The sum of the stock trade amounts will be reflected in the stock component of Net Trades in the Total Cash section. A similar-looking table will be produced for options, warrants, fixed income and futures options, whose totals will also show in the Net Trades line in the Total Cash section. Commissions will total into the Commission line in the Total Cash section, and taxes will show in the Transaction Tax line. P/L is computed on a First In, First Out (FIFO) cost basis. FIFO cost basis includes the commission of the opening transaction.

Advisor trades which are allocated to client accounts will be shown as executed in the advisor account, and then shown as transferred to each of the individual client accounts.

B. Futures Trades

Futures trades will be displayed for each currency and sorted by description and then date. Futures have a notional value, but not a market value. Each business day, gains and losses are settled into cash and reflected in the Net Trades line in the Total Cash section. As with stocks, commissions are reflected in a separate Commissions line in the Total Cash section, and advisor trade allocations will be shown flowing into and out of the accounts.

In addition, gains and losses for future contracts are held over from the prior day and settle into cash which is also reflected in the Net Trades line in the Total Cash section.

C. Client Fees

The display for client fees which are trade-related shows the revenue (amount charged the client) and the expense (amount charged by IB for the trade). The net revenue is reflected in the Commissions line in the Cash Summary. Advisor client fees which are not trade-related only have a revenue and are reflected in the Client Fees line in the Cash Summary.

D. Other Cash Transactions

Transaction detail is shown for other cash transactions, such as Deposits/Withdrawals, Dividends, Fees, Interest (Revenues & Expenses), Payments in Lieu of Dividends, Transactions Taxes, and Withholding Taxes. All of this detail is shown by currency and translated into the base currency of the account.

If you have any forex trades, they will be included in the transaction section and reflected in your cash balances in the Total Cash section.

In addition, you will see cash movements to/from your securities and commodities accounts. These movements are done automatically, and are done to satisfy margin requirements. In general, we will keep as much cash as possible in your securities account.

Note: Any stock or option symbols displayed are for illustrative purposes only and are not intended to portray a recommendation.