Everything in this space is written for both types unless a page says otherwise. The
implementation surface is genuinely the same: authentication, the two-firm identity model,
CreateVendorOrder, Transfer, the gRPC streams, the wire scales and the error catalog do not
change because you are an IB. Six things do, and they are listed below.The six differences
Your order surface does not change either way:
CreateVendorOrder, fill-or-kill only, and you are
always the taker.
If your model depends on reusing your existing KYC or on an omnibus account, raise it before you
build. As an ISV neither is available, and as an IB neither is confirmed in writing yet.
What that changes about the build
As an ISV you build the product and the order flow; we own identity and hold the funds. Your compliance surface is mostly presentation, and not double-crediting users at settlement. It is the shortest path to live and the most constrained account model. As an IB you take on a reporting obligation an ISV is never asked for — ten named reports, an NFA/CFTC demonstration, and a risk-monitoring overview. Budget for it as a programme rather than a document. You also own the end-user identity decision and the customer-facing explanation when a market settles, and you may not touch customer money at any point.How to read this space
- Unmarked text applies to you whoever you are. That is most of it.
- Where the IB implementation differs, the page says so in a callout that begins “If you are an IB, this differs.” If you are an ISV, those callouts are not for you and you can skip them.
- Pages with no ISV equivalent are grouped in the sidebar under If you are an IB: You own KYC, Funds handling, Regulatory and Support and escalation for IBs.
Where the IB deltas are
Every callout in the space, so you can work through them in one pass:Next
ISV: start here
The four things that break most ISV integrations, the responsibility split, and the gates to
production traffic.
IB: start here
The same sequence with your responsibility split, your licensing interaction, and the IB
Agreement.