Portfolios in Scrab can automatically synchronize holdings based on reports received from Interactive Brokers (IBKR).
It's a convenient and safe way to avoid manually entering your stocks and number of shares every time you make any transactions in your brokerage account.
How to connect
Step 1: Enable Third-Party Reports in Interactive Brokers
First, you must allow Scrab to access reports with details of your holdings.
To do so, log in to your IBKR account and then from the Menu, select Reporting (or Performance & Reports), then Third-Party Reports.
Depending on the version of IBKR Portal you use, it can look like this:
Or like this:
Select the gear icon on the Third-Party Reports screen
Then, enable SnapTrade from the list.
SnapTrade is a 3rd party platform allowing Scrab users to easily and securely connect with more than 20 different brokerages.
After clicking Save, you will see a newly created Token and Query ID.
Step 2: Enter Token and Query ID in Scrab
Go to your Portfolio in Scrab and select Interactive Brokers from the list of available institutions.
Provide Token and Query ID:
Step 3: Wait 1 or 2 weekdays
Unfortunately that's how long it takes IBKR to populate information about available accounts.
Step 4: Connect selected brokerage account
Go to Scrab Portfolio you wish to link with brokerage account. Once again select Connect Brokerage. This time you should see name and number of your account(s).
Select the available account to establish the connection.
From now on, Scrab will pull data provided daily by IBKR and update your Scrab Portfolio with it.
Note: Linking a Scrab Portfolio with a brokerage account overwrites its current state in Scrab.
It is recommended to create a new Scrab Portfolio and then connect it to brokerage account, so the current state of your Scrab Portfolio will not accidentally be overwritten.
Is it safe?
Yes, 100% — it doesn't require sharing your account credentials with Scrab or any other third party, only the generated Token and Query ID. We also do not get direct access to your account and rely only on reports provided by Interactive Brokers.
Also, this and all other integrations in Scrab are read-only. Scrab can't make any transactions, open or close any orders, or perform any other actions in your brokerage account on your behalf.
Known limitations
If you enable the service for the first time, the account data may take up to 48 hours, excluding weekends.
Holdings are refreshed daily before the US market opens between 2-6 AM EST.
Transactions done on Friday are available on Monday (no reporting on holidays).
The amount of Available Cash can sometimes be slightly off. This is because of delays observed in the reports provided by IBKR, where recent dividend accruals are not included in the cash balance, even though they have already been paid to the account.