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Required Minimums

 

Minimum Requirements - Monthly Activity - View our Special Offer


Please Note: The requirements on this page are for brokerage accounts only.
 

If you wish to invest in mutual funds, in an investment company account, you may begin with as little as $100 per month in an automatic investment account. It is super easy to get started! Please call us at 919-719-7200 for more details. It is important to note that managed accounts are different from brokerage accounts. Managed accounts are held fund direct or with Investment Companies are excluded from the fees listed below.


 

For brokerage accounts held at Place Trade, the following monthly minimums apply:

 

Do you* charge Inactivity Fees?

 

Whether or not you are subject to inactivity fees depends on:

 

 

 
  • the type of account that you hold with Place Trade, 
  • where your assets are held (within a brokerage, fund direct or another type of account),
  • the balance held in your account

 

For Example

 

  • If your account is managed by Place Trade but held fund direct or with an investment company (typically in a mutual fund account where no stocks, bonds, options, etc. may be traded) you will generally not be charged for any inactivity fees regardless of the level of your account activity.    

 

  • If you have a traditional brokerage account where you can trade stocks, bonds, options and other traditional brokerage products your account will be held by Place Trade and will be subject to the fees listed below if you do not meet the minimal activity or balance requirements. This fee is waived for the first three full calendar months. Special Offer: Like us on Facebook and follow us on Twitter and we will pay your inactivity fees for at least one year (most likely longer). Fine Print? 

 

  • If your traditional retail brokerage account value is $100,000 or above you will not be subject to a monthly minimum activity fee.

 

 

 

Brokerage Accounts (stocks, bonds, options, mutual fund, ETF, etc. trading):

 

 
     
 

Although Place Trade has been ranked by Barron's Magazine for being one of the Top 3 overall online trading firms and one of the best for frequent traders for 2 years in a row; both our full service and our online trading divisions cater to all levels of traders and investors!

 
     
 

 

 

Regardless of whether or not you are an active professional, an individual trader or an investor that likes to buy and hold for the long run, Place Trade is still the Smart Place for you to reach your investment goals!

For brokerage & trading accounts; our clearing firm requires that each account generate a minimum of commissions per month. In cases where you do not meet their minimum, they will charge you the difference between what you did spend on commissions and their fee (NOT BOTH).

So, you don't want to pay any activity fees, right? Check out our special offer below and see how you can get us to pay your inactivity fee for you!

 

Save even more money with this Special Offer!

 

 
         
   

Like us on Facebook and follow us on Twitter and

we will pay your inactivity fees for at least one year!4

   
         

 

 

 
Please View Fine Print Below 
 

 

 

What happens if I do not reach the minimum level of commissions?*

Accounts generating commissions less than the minimum as stated below in any given month will be assessed the difference as a monthly activity fee.

 

Please note: that the monthly activity fee is based on commissions only, and does not include fees related to third-party assessments such as optional market data subscriptions or order modification/cancellation fees.

 

*All fees are passed directly through by our clearing firm. Place Trade does not receive any part of or benefit from these fees and is therefore not able to remove them for you.

 

Type of Account/Client Type

Activity Fee - Minimum - This assumes NO Activity

(Otherwise, you would only be charged the difference.)

All clients not listed below (Balances < USD 100,000):

Individuals age 25 or younger

Clients with equity balances < USD 2,0002

Financial Advisor and Broker Clients

Maximum USD 10.001  (or non-USD equivalent)

Maximum USD 3.00  (or non-USD equivalent)

Maximum USD 20.00  (or non-USD equivalent)

Maximum USD 10.00 (or non-USD equivalent)

 

 

How to calculate minimums for Individual (non-professional) and Institutional (professional) accounts:

 

Retail (non-professional) brokerage accounts including Individual, joint, retirement, etc.:  

For clients with account balances above USD 100,000, there is no monthly inactivity fee.  For all other retail accounts, the fee is waived for the first 3 months.

 

How will I know if I will be charged an inactivity fee?
(Assuming that my account balance is under USD 100,000 and I have had it for more than 3 months of course.)

 

Did you do any trading (generate any commissions) at all this month?

 

Yes

No

You would be charged the difference between:

Minimum Activity Fee ($10) - Total Commission Paid*

You would be charged $10 for the month by our clearing firm.

 

How much did you pay in commissions this month

 

More than $10

Less than $10

You would not be charged a fee because you covered the minimum.

You would be charged the difference between the required minimum and what you have already paid in commissions this month. Not an additional $10 fee!

*Total commissions paid in the given month 

 

 

How to calculate inactivity fees:

What will I be charged an inactivity fee assuming that I had some activity, however, I did less than $10 in commissions this month?

Actual amount that you will be charged = (Minimum Monthly Requirement of $10) - (Total Commissions Paid this Month)

 

For Example

If you paid $8.85 in commissions this month you would only be charged $1.15 for the balance of the minimum activity fee.

 

For Example

 

In this case, you will NOT be charged the full $10 or an additional $10 above the commissions that you have already paid!!!

You will only be charged for the difference!

 

 

 
   

 

Special Offer Fine Print

   
         
 
 

 

How can I avoid paying inactivity fees?

4Like us on Facebook and follow us on Twitter and we will pay your inactivity fees for at least one year! For a minimum of one year from the date that you open your account, so long as you continue to like and follow us of course, we will pay (reimburse you) for inactivity fees that our clearing firm charges you.

Once you open an account, simply send us an email at service at place trade dot com and we will help you get verified so that you can start saving more money with us today! This offer applies to minimum activity fees (commonly referred to as inactivity fees) only. Please note that Place Trade does not receive any part of the fees that our clearing firm charges and we do not get reimbursed for any of the fees that we pay for you. We pay these fees for you out of our bottom line.

Even if you do not see any fees being charged and then reimbursed, please be sure to keep the equivalent of a minimum USD 10 cash balance in your cash account or USD 10 in excess liquidity in your margin account to cover any minimum activity/inactivity fees that are charged by our clearing firm (before we have the opportunity to reimburse you) to avoid the possibility of automatic liquidation (by our clearing firm) to cover their fees. We have not experienced this before, however, we want to make sure that you are covered just in case as we cannot reimburse you for any potential gains or losses that could have been made or lost due to a margin call made by our clearing firm. We are happy to reimburse you for these fees. Thank you for your understanding and for supporting us online! We appreciate it! 

 

 

 

Other Potential Fees:

In addition to monthly fee minimums, there are other potential fees and required minimums that should be considered prior to opening an account.  

Please note that there are NO platform fees or requirements to purchase Market Data!

 

For Example

  • We do offer subscriptions for many types of market data that you may choose to subscribe to, however, you are not required to subscribe to any market data.
  • In the case that you choose to subscribe (again, you are not required to subscribe), we pass through market data fees from our clearing firm/the exchanges for any real-time market data service in which you subscribe (if you do not subscribe you will not be subject to this potential fee).
  • Customers choosing to subscribe to US non-professional real-time market data will have the USD 10 (or non-USD equivalent) monthly market data subscription fee waived if they spend more than USD 30 (or USD equivalent) in commission for the month.3  
 

One last reminder about Platform & Market Data Fees:  

There are no platform fees and that you do not need to subscribe to market data services in order to use our trading platforms.  While we strongly recommend that you use accurate and up to date information prior to making any investment decisions or placing any orders we do not require that you purchase our services.  You are welcome to get your market data from any source that you choose.  Of course, we cannot be held liable for information provided by third-party vendors that you may use outside of our trading platform.

Take me to the Top!

 

For Investor Accounts that are managed by Place Trade but are held fund direct or under custody at investment companies:

 

Each investment company sets their own minimum requirements to open and maintain an account. Most do not charge inactivity fees. For automatic mutual fund investors, you may be able to start investing with as little as $50 per month. Please give us a call today at 1-800-50-PLACE or 1-919-719-7200 to get started. 

 

Advisors, Institutions, and Brokers: 

Fees are considered on a consolidated basis. The number of accounts under an Advisor, Institution, and Broker structure are multiplied by the USD 10 minimum and compared to the total commissions for all accounts. If the total commissions are greater than the minimum calculation, no activity minimum fee will be applied. If the total commissions are less than the minimum calculation, the minimum fee calculation will be applied to each individual account. 

 

As an example, I have one advisor master account and four client accounts. My minimum is five times USD 10, or USD 50. If all five accounts on a consolidated basis had commissions of USD 60, no minimum would be charged. If the consolidated commissions for all five accounts were USD 40, the USD 10/USD 20 minimum described in the Activity Fee Minimum column would be applied to each account (including advisor and master accounts). 

 

Take me to the Top!

 

 

 

1Waived for the first 3 full calendar months for all accounts. There is no fee for accounts with values above $100,000 or USD equivalent.

 

2Our clearing firm may charge a dormant account fee of up to USD 20 or equivalent for an account that has no activity and the account holder has not contacted Place Trade. We have not seen this happen however they reserve the right to charge this fee.

3Please note: You are not required to subscribe to market data. If you do not subscribe to market data you will not be charged a fee for it regardless of activity. However, if you subscribe to it and you accumulate $30 or more per month in commissions your fee will be waived. If you subscribe to market data and you do less than $30 in commissions in a month then you will pay $10 for that month. You may cancel market data subscriptions at any time however if you have a subscription at any time during a month and you do not meet the minimum $30 level for that month you will be charged a fee for the entire month (whether you cancel it on the first day of the month or the last day or anywhere in between). If you do not think that you will meet the minimum activity please either do not subscribe to it or please unsubscribe from it if you have previously subscribed.  

Inactivity Fees, Market Data Fees, Exchange Fees and IRA Custodial Fees are passed directly through to you from our clearing firm (clearing firm, custodian or exchange in such cases). Place Trade does not receive any portion of these fees or any benefit from these fees and therefore is unable to waive or reimburse these fees for clients. We do not take any part of the credit spread on trades either. In the case where a rebate on a credit spread is available, we rebate that back to you! Please remember that we offer the lowest margin rates and we offer verified best execution saving you even more money every day! 

 

Compare Our Rates vs. Other National Firms

Asia-Pacific Markets           European Markets           North American Markets

 

 

 

 

 

 

 

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Learn more about retirement planning by visiting some of the links below:

Roth IRA

SEP IRA

SIMPLE IRA

Traditional IRA

Qualified Plans

Rollover IRAs

Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


Coverdell ESA

529 College Savings Plans

UGMA/UTMA Accounts