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How to upgrade to a Portfolio Margin Account
Are you ready to upgrade to Portfolio Margin?
- Do you have a minimum of USD 110,000 or the USD equivalent equity in your margin account?
- Do you maintain a minimum equity balance of at least $110,000 in your account?
- Are you already approved to trade options?
- If you answered yes then a Portfolio Margin account may be right for you.
Requirements for Portfolio Margin
- Clients who maintain a balanced portfolio of hedged positions could benefit from lower margin requirements and greater leverage using Place Trade's Portfolio Margin account.
- Clients who are currently approved for options trading and who maintain an account minimum of USD 110,000 are eligible to apply for an account upgrade to Portfolio Margin
- Portfolio Margining generally provides for greater leverage,* accounts must report minimum net liquidating equity of at least USD 110,000 to qualify for this margin treatment and USD 100,000 in order to enter margin increasing transactions.
- Portfolio Margin is calculated for cash and equity products only.
Please Note: If you maintain an equity balance that is borderline at the $110,000 mark you will want to watch it very closely as you will return to Reg T Margin if your equity balance falls below this level.
How long does it take to get approved for Portfolio Margin?
Requests for margin upgrades are subject to a Compliance review to ensure that the account holder maintains the appropriate qualifications. This review typically takes between 1 - 3 business days to complete.
How to upgrade to a Portfolio Margin Account in the new Client Portal
- Log into Account Management /the new Client Portal (by clicking here) or from the Login menu on the Place Trade website, then log in using your Place Trade username and password.
- Click Settings > Account Settings (If you manage or maintain multiple accounts, the Account Selector opens. Search for and select the account whose account type you want to change.)
- In the Configuration panel, click the Configure (gear) icon for Account Type. (Continued below)
How to Find and Select Portfolio Margin from the Account Type Menu
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Please note that your view may look slightly different than the picture shown below while we are converting to the new updated version of Account Management.
How to Upgrade from Reg T to Portfolio Margin
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- In the Account Type drop-down, select the type of margin account to which you want to upgrade.
- Cash accounts can upgrade to a Margin account.
- To upgrade to a Portfolio Margin (PM) account, you must be approved to trade options and your account must have at least USD 110,000 (or USD equivalent) in Net Liquidation Value. You should be certain that you can maintain a minimum of USD 110,000 (or USD equivalent) because your account would automatically be converted to a Reg T margin account and subject to liquidation if the value falls below the minimum PM threshold.
- To change your trading permissions as part of this process, select YES.
- Click CONTINUE.
- If you chose to change your trading permissions, the Configure Trading Permissions screen opens. Configure trading permissions and trading programs on this screen and then click CONTINUE.
- Answer the questions on the next screen by selecting YES or NO, and then click CONTINUE.
- If you do not participate in the Secure Login System for two-factor authentication, you will receive an email with a confirmation number. Enter the confirmation number in the field provided and then click CONTINUE.
- Type your name in the Signature field on any risk disclosures that open, and then click CONTINUE.
- Your request is submitted. Click Ok.
How to upgrade to a Portfolio Margin Account in Classic AM
- Log into Account Management (by clicking here) or from the Login menu on the Place Trade website, using your Place Trade username and password.
- Click Manage Account > Settings > Configure Account > Account Type.
- From the Account Type dropdown, select Portfolio Margin.
(Please note that your view may look slightly different than the picture shown below while we are converting to the new updated version of Account Management. You do not need to worry because the basic steps are still the same either way!)
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How to Find and Select Portfolio Margin from the Account Type Menu
How to Upgrade from Reg T to Portfolio Margin
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*Portfolio Margin is a risk-based margin. The amount of leverage that may be available is determined by an algorithm that considers a number of different factors such as the types of securities that you hold, individual margin requirements for each security, level of concentration in your portfolio and more.
Please Note:
Portfolio Margin upgrades are subject to review and may be declined for various reasons including a noted increase in your margin requirements upon upgrade of an account from Regulation T to Portfolio Margin.
Approval may take several days, and you will be notified by email when your request is approved. If the request is declined due to an increase in the margin requirements under Portfolio Margin, you will be informed via a Customer Service Help Ticket and may respond accordingly.
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