If you are thinking about connecting your broker account with the Collective2 service, then the very best place you can start is our collective2 review for the full details on this great social and copy trading platform.
With that done, you may be wondering how to make the Collective2 Interactive Brokers connection as an IB user. Look no further. We have all the guidance you need.
Here we will walk you through the entire process step-by-step so you can get connected.
Let’s take a closer look.
Table of contents
How to connect Interactive Brokers with Collective2?
Here is a look at our step-by-step guide if you would like to connect your Interactive Brokers trading account with Collective2:
1. Open your Interactive Brokers account
The very first thing you will need to do is open an account with Interactive Brokers (74-89% of retail CFD accounts lose money). This can be a swift and convenient process and you can also try out the excellent IB demo account which is unlimited and risk-free first.
Once you are ready, you can verify and open your live account. The verification process should only take a couple of days and the minimum deposit with IB is $2,000.
2. Open your account with Collective2
With your Interactive Brokers account open you will not be able to head to Collective2’s site to link up your account. When you open your Collective2 account you can choose between the investor or strategy manager mode. In this tutorial, we are focusing on investors. This can be as simple as following the on-screen instructions and opening the account.
You will then find in the LeaderBoard section, all the strategies of strategy managers that are available to you. You can subscribe to any strategy from the overview page that you feel may be helpful and you can complete the information as requested in the below image.
3. Choose your C2 AutoTrade Plan
The next step once you have subscribed to a particular strategy is to if you wish. You can do this by clicking the notification that appears at the top of your screen on “Set Up AutoTrade”.
From here, simply choose the plan that suits you from the Solo, Standard, Portfolio, and Portfolio Plus options. You can also choose to pay monthly, or annually. Per month, the amounts of money requested are from $49 to $299. Input your payment details and confirm your choice and you are ready to go.
4. Connect your IB Account
With both accounts up and running, it is time to connect them. There are two ways you can connect your IB account with the C2 platform.
Firstly, you could choose to click on the notification that will show ‘Continue to set up the autotrade’, or you can click on “Invest/AutoTrade” in the sidebar and then ‘Control Panel’. Both options are possible and will get you started in no time.
As you can see, In the control panel, you will have the strategies you have subscribed to. Then you just need to click ‘Set up the auto trade on the strategy you want to engage.
You just need to select IB as your broker in the window that will come up as shown here. You then simply insert the number of your IB account. Every account number starts with the letter ‘U’ followed by 7 digits. After that, click ‘next step’.
5. Set up your AutoTrade Settings
By this step, you are almost fully connected. Next, you just need to activate your AutoTrade settings if you wish. Stop Loss, Trade Management, AutoTrade Scaling and Join trade in progress tools can all be activated.
Once you have selected which options to engage here, simply click ‘Turn on AutoTrade’ and you can continue to the next step.
6. Accept the Collective2 T&C
Finally, you just need to accept the Collective2 terms and conditions. You can read and confirm the conditions in your own time before typing ‘I agree’ for each page and selecting ‘Accept and Continue’ as shown below.
You will then be able to Download the form for individuals or organizations, sign them, and send them electronically along with a copy of your ID to the C2 support team for approval. This is typically completed within 24 to 48 hours and you are now fully connected.
Pros of connecting your Interactive Brokers Account to Collective2
Here are a few of the positive points we have found both from the features of IB together with C2, and also the C2 features available.
Features of IB you can enjoy with C2:
IB is an extremely well-regulated broker by both the FCA and CySEC
They are multi-award-winning and a popular choice among traders
Though the minimum deposit is high, they offer an extensive asset range
They are regulated in the US by the NFA
C2 offers one of the best copy trading services in the industry
You have the choice to be a strategy manager or an investor (copier)
It is a subscription-based service that starts from $49 per month
How are the signals in your IB Account shown in the C2 platform?
If you are using the Interactive Brokers’ Trader Workstation (TWS) to place an order in your broker account, then the orders are sent directly from TWS into your C2 system.
This is done without any system delay so your orders will be immediately reflected in C2 thanks to the partnership between IB and the platform.
Collective2 Interactive Brokers – FAQs
What is Collective2?
Collective2 is a copy- social trading platform based on a subscription service model that allows their clients, both strategy managers and investors, to trade through their proprietary platform. The platform is compatible with other platforms and a list of brokers you can connect with.
Can you trust Interactive Brokers?
Yes, you can. Interactive brokers is regulated by top-regulators and they provide safety and transparency to their clients.
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.
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