Here are the instructions to create tailored Interactive Brokers statements delivered to your email.
An investor in today’s world is likely to check how your securities are doing on your mobile phone application.
An old school investor like myself thought that I would just need a desktop login to a web application. However, the financial companies who keep up with the times better cultivated us to appreciate mobile assess.
Yet, some of us would prefer to have an electronic report.
An electronic report of our holdings and our transactions would allow us to snapshot and create a diary of our decisions.
Why do we need to create customized Interactive Brokers reports that send to your email?
Recently, a colleague of mine seek my help on how to create a report that contains only his monthly trade transactions.
For some of us who work in financial firms, we need to disclose our holdings periodically.
Instead of going through the same arduous process of recreating the reports every month by logging into the Interactive Brokers system, a better way is to:
- Create a custom report of my monthly transactions
- Some other portfolio details
- Send to my email
The advantage is that you can create certain filter rules in your email to forward emails with a certain subject to a particular folder for archival.
How to create customized Interactive Brokers reports?
Interactive Brokers is very flexible in that it allows us to create reports that update different aspects of our accounts.
You can just reveal enough, but not too much.
Here is the process.
First login to your Interactive Brokers accounts and go to Reports > Statements.
In the section below, you would see a Custom Statements section. Click on the cross.
Give a name for the statement.
Next, Interactive Brokers allow you to choose which aspect of your account do you wish to include in the report.
I think we can all appreciate the granularity we can customize this.
As a guide, I want to create a report that includes:
- My cash positions
- Deposits and withdrawals made in the month
- Dividend and the withholding tax on the dividends
- Trades done
- Open positions
Next, there are a few options to choose from. I would normally leave the top to the default.
You can choose to deliver a PDF, Html or CSV version on a different periodic basis.
Confirm your selection.
If you managed to complete the instructions, a custom statement would be created.
You can click on the -> button to run and generate the report, which will allow you to see if this is the info you want.
If not, go back and make amendments.
How to send the customized Interactive Brokers report to your email?
With that done, we will now need to set up Interactive Brokers to automatically send us these reports.
At the report statements page, focus on Statements Delivery, then click on the gear button.
Under Monthly Custom Statements Delivery, click the gear button.
Note: you would notice that there are Default Statement Delivery and Daily Custom Statements Delivery sections. Once you learn to configure the settings, you can deliver daily trades and portfolio positions daily to your email. That is Daily Trade Report. You would just need to set it to Email with Attachment.
You should do this. It is quite convenient.
In the configure delivery settings page, set the delivery method to Email, choose whether you wish to encrypt the email.
Check which custom report you wish to deliver (you can deliver multiple) and in what format.
If you have done everything correctly, then you should have set up the custom statements delivery.
Creating tailored reports allow us to mould Interactive Brokers to an experience we prefer.
You can create one where statements are archive to a mail account, in a folder (if your email storage is large enough).
You can make trades and check on your positions on the mobile phone or TWS platform.
And all this at an additional cost of a big fat zero.
This adds to the appeal of Interactive Brokers:
- Low transaction cost with low minimums
- Two different commission schemes to choose from
- Near spot rate currency conversion
- Trade multiple markets in the world
What are some of the custom reports that you find very useful? Perhaps you can share with us.
If you’re looking to trade these stocks I have mentioned, you can open an account with Interactive Brokers. Interactive Brokers is the main low-cost and efficient broker I use and trust to invest & trade my holdings in Singapore, the United States, London Stock Exchange and Hong Kong Stock Exchange. They allow you to trade stocks, ETFs, options, futures, forex, bonds and funds worldwide from a single integrated account.
You can read more about my thoughts about Interactive Brokers in this Interactive Brokers Deep Dive Series starting with how to easily create & fund your Interactive Brokers account.
My Comprehensive Interactive Brokers How-to Guides
Interactive Brokers is a great low-cost brokerage platform that can be the standard broker for you to hold your long-term investments. You have access to various exchanges such as Singapore, the US, Hong Kong, London, European and Canada exchanges. Fully digital-first.
To get started or get familiar, you might want to check out some of my past articles on wealth building with Interactive Brokers. I hope it makes your life easier and brighter.