Whether you are new to Place Trade or have been here for years we make funding your account easy! Choose the way that is easiest for you and feel free to call us at 1-800-50-PLACE or 1-800-507-5223 if you need assistance.
You may fund your new account online when filling out the new account application or contact us for other options. You may also roll over your existing account (that is currently held at another firm) to fund your new account at Place Trade. It is super easy to do and we are happy to help you if you need us!
Detailed Funding Reference ~ How to Fund your Online Trading Account(Deposits, Checks, ACH, Wires, Direct Rollovers, Trustee to Trustee transfers and more!) |
How to Fund your Account - Actual Steps
Important Notice Regarding Physical Stock Certificates: Place Trade no longer accepts physical stock certificates (per our clearing firm). All securities must be transferred electronically from your current firm or via the transfer agent issuing the certificate.
Funding Your Account
Deposits
Funding your account is made simple with Place Trade and Interactive Brokers. To deposit funds in your IB account, you must first complete a deposit notification. This will allow the clearing firm to properly identify incoming funds and will ensure your funds retain their originating currency of denomination.
- To complete a deposit notification, visit the Funds Transfer page in Account Management/Funds Management.
- You must contact your bank or Place Trade Financial to complete funds transfers after the completion of a deposit notification.
- Detailed instructions on where or how to send funds will be provided after a deposit notification is completed and received. Instructions may vary.
- Checks or wire transfers absent of the proper deposit instructions will be held by the clearing firm until you are contacted.
Internal Funds Transfers
To make an internal fund transfer, you must complete an Internal Funds Transfer request. You can do this in the Account Management/Funds Management page. Funds that are on hold cannot be internally transferred.
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Account processing will occur within one (1) business day after receipt. Once your account has been approved, cleared funds are required to begin trading. All checks including certified and cashier's checks require a minimum of 5 business days before becoming available for investing. For options trading, a minimum of 7 business days is required.
With the exception of the minimum investment to open an account, Place Trade Financial does not require a minimum balance to be maintained and does not charge maintenance fees for inactive accounts.
Account Minimums (Cash or Equity)
Place Trade Financial requires a minimum (in cash or in equity) investment of: (View information regarding mutual fund account minimums)
$5,000 for All Other Accounts (Example; Individual, Joint, Trust, Corporate and Partnership as well as International brokerage accounts [NON-Retirement Accounts]
$3,000 for Individuals under the age of 26
IRAs and other Qualified Accounts (Example; Traditional IRA, Roth IRA, SEP, SIMPLE, 401(k) or other Retirement Accounts):
$3,000 Minimum Equity Investment
IRA accounts require a $3,000 minimum investment.
View complete information regarding minimum requirements for online trading/brokerage accounts at Place Trade.
Please Note:
Place Trade Clients who have their Mutual Funds held fund direct will not be subject to these minimums.
Minimum Equity may be satisfied with the rollover or deposit of assets held in an account that is transferred to Place Trade or by check or wire transfer of cash to your new account. Clients are encouraged but not required to maintain these levels on existing accounts. (This may change without notice.)
Mutual Fund Accounts - Accounts held Fund Direct
Minimum investments required for mutual funds are set by the individual mutual fund families. Minimums can be as low as $50 a month through an automatic investment program. These funds would be held at the mutual fund company directly and not in a Place Trade brokerage account.
Learn about mutual funds, risks, fees, expenses and more on our mutual fund page and by calling an experienced full service financial professional at 1-919-719-7200 or 1-800-50-PLACE today.
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Place Trade does not require the actual funding of your account prior to the approval of your new account application however our clearing firm does require you to enter information regarding how you plan to fund your account prior to granting approval of you application. To do this, simply fill in the information under the "Fund Account" section of the application. We will not transfer your account or funds prior to approval of your new account.
Place Trade Financial does not accept physical stock certificates. All securities must be transferred electronically from your current firm or the transfer agent issuing the certificate.
For additional information, please visit Funds and Banking Procedures.
All account applications, forms, checks, and correspondences can be mailed to Place Trade Financial:
Place Trade Financial
Attn. New Accounts
4030 Wake Forest Road
Suite 300
Raleigh, NC 27609
Wire Transfers
To view a Video Tutorial or get help please call us at 919-719-7200 today.
