You can create three types of accounts in Invest:
- Self Directed
Self Directed Accounts
These accounts represent a real brokerage account you own. They are kept in sync with your broker by either manually entering (or importing) the transactions you execute on your broker, or by linking using TRADE to automate the process (to learn more about linking your account see the TRADE section here.
Whether you maintain the account by hand or with TRADE, Self Directed Accounts offer many advantages vs. what you get with a broker, such as:
- A consistent, easy to use interface to all your brokerage accounts
- Ability to partition the account into separate Strategies and track performances separately
- Take advantage of the many Invest features to help you record your decisions
Use these accounts to play around with strategies, track performance, or test ideas without using real money. Paper accounts behave just like a Self Directed Account. Identifying accounts as "paper" will allow you to filter out the holdings and transactions so you only see your real accounts.
These accounts are fully managed by Portfolio123 Advisor. They are linked to your real account on Interactive Brokers. With these accounts you can only give instructions to invest in models, which are then executed the following day. To learn more about Advisor Accounts and the investment opportunities they offer please see the Advisor section here.