V. 22:5 (82-83): Quick Scans: Universal Account by Jayanthi Gopalakrishnan

Quick Scans: Universal Account by Jayanthi Gopalakrishnan

With globalization the focus of so much discussion in recent times, it may not be a bad idea to take advantage of a global marketplace. As more exchanges become accessible due to the expansion in electronic exchanges, global participation certainly has become a possibility, and brokers are not far from bringing these markets to your desktop. For example, Interactive Brokers (IB) now offers its Universal Account trading platform. This account enables you to trade stocks, futures, options, futures on options, and exchange-traded funds (ETFs) on 40 market centers in 13 different countries. What is even more attractive is that you can trade these products from around the world through one account, which can be opened in one currency. If you wish to trade products that are denominated one of seven other major currencies, IB will automatically create a margin loan in the non-base currency, or if you prefer to take on the security risk, it will allow you to make a foreignexchange trade. There are some restrictions, but these are clearly described at www.InteractiveBrokers.com.